MASTER BOOT RECORD: 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 BOOT RECORD
Largest movements
- Tangible fixed assets -€6,848
down €6,848 (-3.8%), from €178,634 to €171,786
- Cash +€2,428
up €2,428 (+6.9%), from €35,255 to €37,683
mainly Depreciation (+€6,848) and Receivables within one year (+€79)
- Profit (loss) carried forward -€4,444
down €4,444 (-7.7%), from €58,020 to €53,576
- Depreciation -€2,265
down €2,265 (-24.9%), from €9,113 to €6,848
- Gross operating margin +€680
up €680 (+23.3%), from €2,923 to €3,603
- Other operating charges +€511
up €511 (+134%), from €382 to €893
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 | €215,946 | €211,448 | -€4,499 | -2.1% |
| Fixed assets | 21/28 | €178,634 | €171,786 | -€6,848 | -3.8% |
| Tangible fixed assets | 22/27 | €178,634 | €171,786 | -€6,848 | -3.8% |
| Land and buildings | 22 | €178,634 | €171,786 | -€6,848 | -3.8% |
| Current assets | 29/58 | €37,312 | €39,661 | +€2,349 | +6.3% |
| Amounts receivable within one year | 40/41 | €2,057 | €1,978 | -€79 | -3.8% |
| Trade receivables | 40 | €1,876 | €1,978 | +€103 | +5.5% |
| Other amounts receivable | 41 | €182 | - | -€182 | |
| Cash at bank and in hand | 54/58 | €35,255 | €37,683 | +€2,428 | +6.9% |
| Total equity and liabilities | 10/49 | €215,946 | €211,448 | -€4,499 | -2.1% |
| Equity | 10/15 | €215,414 | €210,970 | -€4,444 | -2.1% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €57,395 | €57,395 | = | 0.0% |
| Distributable reserves | 133 | €57,395 | €57,395 | = | 0.0% |
| Profit (loss) carried forward | 14 | €58,020 | €53,576 | -€4,444 | -7.7% |
| Amounts payable | 17/49 | €532 | €477 | -€55 | -10.3% |
| Amounts payable within one year | 42/48 | €532 | €477 | -€55 | -10.3% |
| Taxes, remuneration and social security | 45 | - | €5 | +€5 | |
| Taxes | 450/3 | - | €5 | +€5 | |
| Other amounts payable | 47/48 | €532 | €472 | -€60 | -11.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,113 | €6,848 | -€2,265 | -24.9% |
| Other operating charges | 640/8 | €382 | €893 | +€511 | +134% |
| Gross operating margin | 9900 | €2,923 | €3,603 | +€680 | +23.3% |
| Operating profit (loss) | 9901 | -€6,572 | -€4,138 | +€2,434 | +37.0% |
| Financial charges | 65/66B | €280 | €306 | +€26 | +9.3% |
| Recurring financial charges | 65 | €280 | €306 | +€26 | +9.3% |
| Profit (loss) for the period before taxes | 9903 | -€6,852 | -€4,444 | +€2,408 | +35.1% |
| Profit (loss) for the period | 9904 | -€6,852 | -€4,444 | +€2,408 | +35.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,852 | -€4,444 | +€2,408 | +35.1% |
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 22 October 2026 via checked.be.