MASTER BUSINESS: what changed
Two fiscal 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 BUSINESS
Largest movements
- Tangible fixed assets -€899
down €899 (-1.6%), from €56,875 to €55,976
of which Plant, machinery and equipment: -€899
- Other debts -€3,549
no longer reported in 2025 (was €3,549)
- Profit (loss) carried forward +€2,920
up €2,920 (+43.0%), from -€6,791 to -€3,871
- Purchases and services -€17,231
no longer reported in 2025 (was €17,231)
- Gross operating margin +€8,921
up €8,921, from -€1,660 to €7,262
- Other operating charges +€398
up €398 (+13.1%), from €3,046 to €3,443
- Taxes -€276
no longer reported in 2025 (was €276)
- Depreciation -€136
down €136 (-13.1%), from €1,034 to €899
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.
Cash bridge derived
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 | €58,758 | €58,129 | -€629 | -1.1% |
| Fixed assets | 21/28 | €56,875 | €55,976 | -€899 | -1.6% |
| Tangible fixed assets | 22/27 | €56,875 | €55,976 | -€899 | -1.6% |
| Land and buildings | 22 | €55,218 | €55,218 | = | 0.0% |
| Plant, machinery and equipment | 23 | €1,657 | €758 | -€899 | -54.2% |
| Current assets | 29/58 | €1,882 | €2,152 | +€270 | +14.3% |
| Amounts receivable within one year | 40/41 | €860 | €1,134 | +€274 | +31.8% |
| Other amounts receivable | 41 | €860 | €1,134 | +€274 | +31.8% |
| Cash at bank and in hand | 54/58 | €40 | €4 | -€35 | -88.9% |
| Deferred charges and accrued income | 490/1 | €983 | €1,014 | +€31 | +3.2% |
| Total equity and liabilities | 10/49 | €58,758 | €58,129 | -€629 | -1.1% |
| Equity | 10/15 | €55,209 | €58,129 | +€2,920 | +5.3% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,791 | -€3,871 | +€2,920 | +43.0% |
| Amounts payable | 17/49 | €3,549 | - | -€3,549 | |
| Amounts payable within one year | 42/48 | €3,549 | - | -€3,549 | |
| Other amounts payable | 47/48 | €3,549 | - | -€3,549 | |
| Non-recurring operating income | 76A | €15,572 | - | -€15,572 | |
| Goods, raw materials, services and sundry goods | 60/61 | €17,231 | - | -€17,231 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,034 | €899 | -€136 | -13.1% |
| Other operating charges | 640/8 | €3,046 | €3,443 | +€398 | +13.1% |
| Gross operating margin | 9900 | -€1,660 | €7,262 | +€8,921 | |
| Operating profit (loss) | 9901 | -€5,740 | €2,920 | +€8,660 | |
| Financial charges | 65/66B | €28 | - | -€28 | |
| Recurring financial charges | 65 | €28 | - | -€28 | |
| Profit (loss) for the period before taxes | 9903 | -€5,768 | €2,920 | +€8,687 | |
| Income taxes | 67/77 | €276 | - | -€276 | |
| Profit (loss) for the period | 9904 | -€6,044 | €2,920 | +€8,963 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,044 | €2,920 | +€8,963 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.