MASTER AND CO: 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.
MASTER AND CO
Largest movements
- Stocks and contracts +€145,266
up €145,266 (+66.9%), from €216,982 to €362,248
- Trade debts +€168,405
up €168,405 (+91.5%), from €184,031 to €352,436
- Profit (loss) carried forward -€46,748
down €46,748, from €15,617 to -€31,131
- Debts after one year +€16,608
up €16,608 (+88.1%), from €18,843 to €35,451
- Tax, wage and social debts +€3,816
up €3,816 (+33.5%), from €11,404 to €15,220
of which Taxes: +€9,786
- Turnover -€58,374
down €58,374 (-18.6%), from €314,490 to €256,116
- Gross operating margin -€39,345
down €39,345 (-2,689%), from -€1,463 to -€40,808
- Purchases and services -€33,950
down €33,950 (-10.3%), from €330,874 to €296,924
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 | €235,895 | €377,977 | +€142,081 | +60.2% |
| Fixed assets | 21/28 | €5,737 | €3,992 | -€1,745 | -30.4% |
| Tangible fixed assets | 22/27 | €5,737 | €3,792 | -€1,945 | -33.9% |
| Furniture and vehicles | 24 | €5,737 | €3,792 | -€1,945 | -33.9% |
| Financial fixed assets | 28 | - | €200 | +€200 | |
| Current assets | 29/58 | €230,159 | €373,984 | +€143,826 | +62.5% |
| Stocks and contracts in progress | 3 | €216,982 | €362,248 | +€145,266 | +66.9% |
| Stocks | 30/36 | €216,982 | €362,248 | +€145,266 | +66.9% |
| Amounts receivable within one year | 40/41 | €11,620 | €11,465 | -€155 | -1.3% |
| Trade receivables | 40 | €11,620 | €6,519 | -€5,100 | -43.9% |
| Other amounts receivable | 41 | - | €4,945 | +€4,945 | |
| Cash at bank and in hand | 54/58 | €1,556 | €129 | -€1,427 | -91.7% |
| Deferred charges and accrued income | 490/1 | - | €142 | +€142 | |
| Total equity and liabilities | 10/49 | €235,895 | €377,977 | +€142,081 | +60.2% |
| Equity | 10/15 | €21,617 | -€25,131 | -€46,748 | |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,617 | -€31,131 | -€46,748 | |
| Amounts payable | 17/49 | €214,279 | €403,108 | +€188,829 | +88.1% |
| Amounts payable after more than one year | 17 | €18,843 | €35,451 | +€16,608 | +88.1% |
| Other amounts payable | 178/9 | €18,843 | €35,451 | +€16,608 | +88.1% |
| Amounts payable within one year | 42/48 | €195,435 | €367,657 | +€172,222 | +88.1% |
| Trade debts | 44 | €184,031 | €352,436 | +€168,405 | +91.5% |
| Suppliers | 440/4 | €184,031 | €352,436 | +€168,405 | +91.5% |
| Taxes, remuneration and social security | 45 | €11,404 | €15,220 | +€3,816 | +33.5% |
| Taxes | 450/3 | €5,421 | €15,207 | +€9,786 | +181% |
| Remuneration and social security | 454/9 | €5,983 | €13 | -€5,970 | -99.8% |
| Turnover | 70 | €314,490 | €256,116 | -€58,374 | -18.6% |
| Goods, raw materials, services and sundry goods | 60/61 | €330,874 | €296,924 | -€33,950 | -10.3% |
| Remuneration, social security and pensions | 62 | - | €1,962 | +€1,962 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,634 | €1,945 | +€310 | +19.0% |
| Other operating charges | 640/8 | €567 | €1,449 | +€882 | +155% |
| Gross operating margin | 9900 | -€1,463 | -€40,808 | -€39,345 | -2,689% |
| Operating profit (loss) | 9901 | -€3,665 | -€46,165 | -€42,500 | -1,160% |
| Financial charges | 65/66B | €409 | €583 | +€175 | +42.7% |
| Recurring financial charges | 65 | €409 | €583 | +€175 | +42.7% |
| Profit (loss) for the period before taxes | 9903 | -€4,074 | -€46,748 | -€42,674 | -1,048% |
| Income taxes | 67/77 | €202 | - | -€202 | |
| Profit (loss) for the period | 9904 | -€4,276 | -€46,748 | -€42,472 | -993% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,276 | -€46,748 | -€42,472 | -993% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.