MASTER CHIPS: 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 CHIPS
Largest movements
- Receivables within one year -€123,259
down €123,259 (-34.7%), from €354,963 to €231,704
of which Trade receivables: -€99,401
- Cash +€96,746
up €96,746 (+163.5%), from €59,162 to €155,907
mainly Net result for the year (+€180,158) and Receivables within one year (+€123,259)
- Stocks and contracts +€62,000
up €62,000 (+28.2%), from €220,000 to €282,000
- Tangible fixed assets -€9,419
down €9,419 (-17.8%), from €52,861 to €43,442
of which Furniture and vehicles: -€11,778
- Deferred charges and accrued income +€8,321
up €8,321 (+101.1%), from €8,233 to €16,554
- Reserves +€145,158
up €145,158 (+50.7%), from €286,426 to €431,584
- Other debts -€39,132
down €39,132 (-52.7%), from €74,311 to €35,179
- Trade debts -€34,650
down €34,650 (-23.3%), from €148,550 to €113,901
- Debts after one year -€30,590
down €30,590 (-42.3%), from €72,385 to €41,795
- Tax, wage and social debts -€9,436
down €9,436 (-26.7%), from €35,304 to €25,868
of which Taxes: -€9,708
- Staff costs +€28,713
up €28,713 (+36.0%), from €79,797 to €108,510
- Gross operating margin +€22,723
up €22,723 (+6.4%), from €356,720 to €379,443
- Taxes +€14,169
up €14,169 (+29.7%), from €47,727 to €61,896
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 | €695,219 | €729,608 | +€34,389 | +4.9% |
| Fixed assets | 21/28 | €52,861 | €43,442 | -€9,419 | -17.8% |
| Tangible fixed assets | 22/27 | €52,861 | €43,442 | -€9,419 | -17.8% |
| Plant, machinery and equipment | 23 | €1,412 | €3,771 | +€2,359 | +167.1% |
| Furniture and vehicles | 24 | €51,449 | €39,672 | -€11,778 | -22.9% |
| Current assets | 29/58 | €642,358 | €686,165 | +€43,808 | +6.8% |
| Stocks and contracts in progress | 3 | €220,000 | €282,000 | +€62,000 | +28.2% |
| Stocks | 30/36 | €220,000 | €282,000 | +€62,000 | +28.2% |
| Amounts receivable within one year | 40/41 | €354,963 | €231,704 | -€123,259 | -34.7% |
| Trade receivables | 40 | €316,979 | €217,578 | -€99,401 | -31.4% |
| Other amounts receivable | 41 | €37,985 | €14,127 | -€23,858 | -62.8% |
| Cash at bank and in hand | 54/58 | €59,162 | €155,907 | +€96,746 | +163.5% |
| Deferred charges and accrued income | 490/1 | €8,233 | €16,554 | +€8,321 | +101.1% |
| Total equity and liabilities | 10/49 | €695,219 | €729,608 | +€34,389 | +4.9% |
| Equity | 10/15 | €305,026 | €450,184 | +€145,158 | +47.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €286,426 | €431,584 | +€145,158 | +50.7% |
| Distributable reserves | 133 | €286,426 | €431,584 | +€145,158 | +50.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €390,192 | €279,424 | -€110,768 | -28.4% |
| Amounts payable after more than one year | 17 | €72,385 | €41,795 | -€30,590 | -42.3% |
| Financial debts | 170/4 | €72,385 | €41,795 | -€30,590 | -42.3% |
| Amounts payable within one year | 42/48 | €317,807 | €237,629 | -€80,178 | -25.2% |
| Current portion of amounts payable after more than one year | 42 | €59,642 | €62,395 | +€2,753 | +4.6% |
| Financial debts | 43 | €0 | €286 | +€286 | |
| Credit institutions | 430/8 | - | €286 | +€286 | |
| Other loans | 439 | €0 | - | = | |
| Trade debts | 44 | €148,550 | €113,901 | -€34,650 | -23.3% |
| Suppliers | 440/4 | €148,550 | €113,901 | -€34,650 | -23.3% |
| Taxes, remuneration and social security | 45 | €35,304 | €25,868 | -€9,436 | -26.7% |
| Taxes | 450/3 | €28,303 | €18,595 | -€9,708 | -34.3% |
| Remuneration and social security | 454/9 | €7,001 | €7,273 | +€272 | +3.9% |
| Other amounts payable | 47/48 | €74,311 | €35,179 | -€39,132 | -52.7% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €79,797 | €108,510 | +€28,713 | +36.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,008 | €14,104 | +€1,095 | +8.4% |
| Other operating charges | 640/8 | €473 | €1,462 | +€989 | +209.1% |
| Non-recurring operating charges | 66A | €251 | €0 | -€251 | -100.0% |
| Gross operating margin | 9900 | €356,720 | €379,443 | +€22,723 | +6.4% |
| Operating profit (loss) | 9901 | €263,191 | €255,367 | -€7,824 | -3.0% |
| Financial income | 75/76B | €1,454 | €816 | -€638 | -43.9% |
| Recurring financial income | 75 | €1,454 | €816 | -€638 | -43.9% |
| Financial charges | 65/66B | €17,831 | €14,130 | -€3,701 | -20.8% |
| Recurring financial charges | 65 | €17,831 | €14,130 | -€3,701 | -20.8% |
| Profit (loss) for the period before taxes | 9903 | €246,813 | €242,053 | -€4,760 | -1.9% |
| Income taxes | 67/77 | €47,727 | €61,896 | +€14,169 | +29.7% |
| Profit (loss) for the period | 9904 | €199,087 | €180,158 | -€18,929 | -9.5% |
| Profit (loss) for the period to be appropriated | 9905 | €199,087 | €180,158 | -€18,929 | -9.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.