Majstro Invest: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
Majstro Invest
Largest movements
- Stocks and contracts +€193,233
up €193,233 (+40.7%), from €474,700 to €667,933
- Cash +€67,842
up €67,842 (+3,289%), from €2,062 to €69,905
mainly Short-term financial debts (+€179,124) and Other debts (+€96,174)
- Receivables within one year -€26,973
down €26,973 (-80.8%), from €33,375 to €6,402
of which Trade receivables: -€33,085
- Short-term financial debts +€179,124
new in 2025: €179,124
- Current portion of long-term debt -€117,118
down €117,118 (-95.2%), from €123,000 to €5,882
- Other debts +€96,174
up €96,174 (+57.0%), from €168,700 to €264,874
- Debts after one year +€37,000
up €37,000 (+20.4%), from €181,000 to €218,000
- Reserves +€19,430
up €19,430 (+66.1%), from €29,385 to €48,814
- Gross operating margin +€21,536
up €21,536 (+81.0%), from €26,604 to €48,140
- Financial charges -€7,086
down €7,086 (-28.9%), from €24,506 to €17,420
- Taxes +€6,094
up €6,094 (+1,593%), from €382 to €6,477
- Other operating charges +€4,148
up €4,148 (+624%), from €665 to €4,814
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €511,282 | €744,968 | +€233,686 | +45.7% |
| Current assets | 29/58 | €511,282 | €744,968 | +€233,686 | +45.7% |
| Stocks and contracts in progress | 3 | €474,700 | €667,933 | +€193,233 | +40.7% |
| Stocks | 30/36 | €474,700 | €667,933 | +€193,233 | +40.7% |
| Amounts receivable within one year | 40/41 | €33,375 | €6,402 | -€26,973 | -80.8% |
| Trade receivables | 40 | €33,085 | - | -€33,085 | |
| Other amounts receivable | 41 | €290 | €6,402 | +€6,112 | +2,105% |
| Cash at bank and in hand | 54/58 | €2,062 | €69,905 | +€67,842 | +3,289% |
| Deferred charges and accrued income | 490/1 | €1,144 | €728 | -€416 | -36.3% |
| Total equity and liabilities | 10/49 | €511,282 | €744,968 | +€233,686 | +45.7% |
| Equity | 10/15 | €30,385 | €49,814 | +€19,430 | +63.9% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €29,385 | €48,814 | +€19,430 | +66.1% |
| Distributable reserves | 133 | €29,385 | €48,814 | +€19,430 | +66.1% |
| Amounts payable | 17/49 | €480,897 | €695,154 | +€214,257 | +44.6% |
| Amounts payable after more than one year | 17 | €181,000 | €218,000 | +€37,000 | +20.4% |
| Financial debts | 170/4 | €181,000 | €218,000 | +€37,000 | +20.4% |
| Amounts payable within one year | 42/48 | €299,897 | €477,154 | +€177,257 | +59.1% |
| Current portion of amounts payable after more than one year | 42 | €123,000 | €5,882 | -€117,118 | -95.2% |
| Financial debts | 43 | - | €179,124 | +€179,124 | |
| Credit institutions | 430/8 | - | €179,124 | +€179,124 | |
| Trade debts | 44 | €7,815 | €26,623 | +€18,809 | +241% |
| Suppliers | 440/4 | €7,815 | €26,623 | +€18,809 | +241% |
| Taxes, remuneration and social security | 45 | €382 | €650 | +€268 | +70.0% |
| Taxes | 450/3 | €382 | €650 | +€268 | +70.0% |
| Other amounts payable | 47/48 | €168,700 | €264,874 | +€96,174 | +57.0% |
| Other operating charges | 640/8 | €665 | €4,814 | +€4,148 | +624% |
| Gross operating margin | 9900 | €26,604 | €48,140 | +€21,536 | +81.0% |
| Operating profit (loss) | 9901 | €25,939 | €43,327 | +€17,388 | +67.0% |
| Financial charges | 65/66B | €24,506 | €17,420 | -€7,086 | -28.9% |
| Recurring financial charges | 65 | €24,506 | €17,420 | -€7,086 | -28.9% |
| Profit (loss) for the period before taxes | 9903 | €1,433 | €25,906 | +€24,473 | +1,708% |
| Income taxes | 67/77 | €382 | €6,477 | +€6,094 | +1,593% |
| Profit (loss) for the period | 9904 | €1,051 | €19,430 | +€18,379 | +1,749% |
| Profit (loss) for the period to be appropriated | 9905 | €1,051 | €19,430 | +€18,379 | +1,749% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.