MASTEBO: 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.
MASTEBO
Largest movements
- Cash +€167,897
up €167,897 (+413%), from €40,661 to €208,558
mainly Other debts (+€196,682) and Current portion of long-term debt (+€110,430)
- Tangible fixed assets -€22,233
down €22,233 (-34.0%), from €65,365 to €43,132
- Other debts +€196,682
up €196,682 (+4,592%), from €4,283 to €200,965
- Debts after one year -€120,277
down €120,277 (-26.2%), from €459,183 to €338,906
of which Financial debts: -€450,277
- Current portion of long-term debt +€110,430
up €110,430 (+92.1%), from €119,847 to €230,277
- Profit (loss) carried forward -€39,469
down €39,469 (-100%), from €39,469 to €0
- Gross operating margin -€7,478
down €7,478 (-13.0%), from €57,543 to €50,065
- Taxes -€2,166
down €2,166 (-21.3%), from €10,156 to €7,990
- Other operating charges +€1,042
up €1,042 (+73.6%), from €1,417 to €2,458
- Financial charges +€935
up €935 (+35.9%), from €2,605 to €3,540
- Depreciation +€811
up €811 (+3.8%), from €21,422 to €22,233
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 | €670,815 | €818,779 | +€147,964 | +22.1% |
| Fixed assets | 21/28 | €615,365 | €593,132 | -€22,233 | -3.6% |
| Tangible fixed assets | 22/27 | €65,365 | €43,132 | -€22,233 | -34.0% |
| Furniture and vehicles | 24 | €65,365 | €43,132 | -€22,233 | -34.0% |
| Financial fixed assets | 28 | €550,000 | €550,000 | = | 0.0% |
| Current assets | 29/58 | €55,450 | €225,647 | +€170,197 | +307% |
| Amounts receivable within one year | 40/41 | €9,882 | €12,000 | +€2,118 | +21.4% |
| Trade receivables | 40 | €9,882 | €12,000 | +€2,118 | +21.4% |
| Cash at bank and in hand | 54/58 | €40,661 | €208,558 | +€167,897 | +413% |
| Deferred charges and accrued income | 490/1 | €4,907 | €5,089 | +€182 | +3.7% |
| Total equity and liabilities | 10/49 | €670,815 | €818,779 | +€147,964 | +22.1% |
| Equity | 10/15 | €78,420 | €38,951 | -€39,469 | -50.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €33,951 | €33,951 | = | 0.0% |
| Distributable reserves | 133 | €33,951 | €33,951 | = | 0.0% |
| Profit (loss) carried forward | 14 | €39,469 | €0 | -€39,469 | -100% |
| Amounts payable | 17/49 | €592,395 | €779,828 | +€187,433 | +31.6% |
| Amounts payable after more than one year | 17 | €459,183 | €338,906 | -€120,277 | -26.2% |
| Financial debts | 170/4 | €459,183 | €8,906 | -€450,277 | -98.1% |
| Other amounts payable | 178/9 | - | €330,000 | +€330,000 | |
| Amounts payable within one year | 42/48 | €132,612 | €439,722 | +€307,110 | +232% |
| Current portion of amounts payable after more than one year | 42 | €119,847 | €230,277 | +€110,430 | +92.1% |
| Trade debts | 44 | €232 | €925 | +€693 | +299% |
| Suppliers | 440/4 | €232 | €925 | +€693 | +299% |
| Taxes, remuneration and social security | 45 | €8,250 | €7,555 | -€695 | -8.4% |
| Taxes | 450/3 | €7,400 | €7,555 | +€155 | +2.1% |
| Remuneration and social security | 454/9 | €850 | €0 | -€850 | -100% |
| Other amounts payable | 47/48 | €4,283 | €200,965 | +€196,682 | +4,592% |
| Accrued charges and deferred income | 492/3 | €600 | €1,200 | +€600 | +100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,422 | €22,233 | +€811 | +3.8% |
| Other operating charges | 640/8 | €1,417 | €2,458 | +€1,042 | +73.6% |
| Gross operating margin | 9900 | €57,543 | €50,065 | -€7,478 | -13.0% |
| Operating profit (loss) | 9901 | €34,705 | €25,374 | -€9,331 | -26.9% |
| Financial charges | 65/66B | €2,605 | €3,540 | +€935 | +35.9% |
| Recurring financial charges | 65 | €2,605 | €3,540 | +€935 | +35.9% |
| Profit (loss) for the period before taxes | 9903 | €32,100 | €21,834 | -€10,266 | -32.0% |
| Income taxes | 67/77 | €10,156 | €7,990 | -€2,166 | -21.3% |
| Profit (loss) for the period | 9904 | €21,944 | €13,844 | -€8,100 | -36.9% |
| Profit (loss) for the period to be appropriated | 9905 | €21,944 | €13,844 | -€8,100 | -36.9% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.