Master Construct Global: 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 Construct Global
Largest movements
- Receivables within one year +€57,792
up €57,792 (+26.9%), from €215,215 to €273,007
of which Trade receivables: +€43,078
- Cash -€9,315
down €9,315 (-92.0%), from €10,131 to €815
mainly Receivables within one year (-€57,792) and Investment in fixed assets (net) (-€11,600)
- Tangible fixed assets +€8,719
new in 2024: €8,719
- Trade debts +€46,930
up €46,930 (+79.4%), from €59,115 to €106,045
of which Bills of exchange payable: +€68,369
- Profit (loss) carried forward +€16,749
up €16,749 (+12.5%), from €133,477 to €150,227
- Tax, wage and social debts -€6,534
down €6,534 (-26.4%), from €24,744 to €18,210
- Gross operating margin -€4,643
down €4,643 (-13.7%), from €33,882 to €29,239
- Depreciation +€2,930
new in 2024: €2,930
- Taxes -€1,330
down €1,330 (-14.2%), from €9,357 to €8,027
- Other operating charges -€1,065
down €1,065 (-44.2%), from €2,410 to €1,345
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €225,396 | €282,542 | +€57,146 | +25.4% |
| Fixed assets | 21/28 | €50 | €8,719 | +€8,669 | +17338.7% |
| Tangible fixed assets | 22/27 | - | €8,719 | +€8,719 | |
| Furniture and vehicles | 24 | - | €8,719 | +€8,719 | |
| Financial fixed assets | 28 | €50 | - | -€50 | |
| Current assets | 29/58 | €225,346 | €273,822 | +€48,476 | +21.5% |
| Amounts receivable within one year | 40/41 | €215,215 | €273,007 | +€57,792 | +26.9% |
| Trade receivables | 40 | €58,623 | €101,701 | +€43,078 | +73.5% |
| Other amounts receivable | 41 | €156,593 | €171,306 | +€14,714 | +9.4% |
| Cash at bank and in hand | 54/58 | €10,131 | €815 | -€9,315 | -92.0% |
| Total equity and liabilities | 10/49 | €225,396 | €282,542 | +€57,146 | +25.4% |
| Equity | 10/15 | €141,537 | €158,287 | +€16,749 | +11.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €133,477 | €150,227 | +€16,749 | +12.5% |
| Amounts payable | 17/49 | €83,859 | €124,255 | +€40,396 | +48.2% |
| Amounts payable within one year | 42/48 | €83,859 | €124,255 | +€40,396 | +48.2% |
| Trade debts | 44 | €59,115 | €106,045 | +€46,930 | +79.4% |
| Suppliers | 440/4 | €34,140 | €12,700 | -€21,440 | -62.8% |
| Bills of exchange payable | 441 | €24,976 | €93,345 | +€68,369 | +273.7% |
| Taxes, remuneration and social security | 45 | €24,744 | €18,210 | -€6,534 | -26.4% |
| Taxes | 450/3 | €24,744 | €18,210 | -€6,534 | -26.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €2,930 | +€2,930 | |
| Other operating charges | 640/8 | €2,410 | €1,345 | -€1,065 | -44.2% |
| Gross operating margin | 9900 | €33,882 | €29,239 | -€4,643 | -13.7% |
| Operating profit (loss) | 9901 | €31,473 | €24,964 | -€6,508 | -20.7% |
| Financial charges | 65/66B | €207 | €188 | -€20 | -9.5% |
| Recurring financial charges | 65 | €207 | €188 | -€20 | -9.5% |
| Profit (loss) for the period before taxes | 9903 | €31,265 | €24,777 | -€6,489 | -20.8% |
| Income taxes | 67/77 | €9,357 | €8,027 | -€1,330 | -14.2% |
| Profit (loss) for the period | 9904 | €21,908 | €16,749 | -€5,158 | -23.5% |
| Profit (loss) for the period to be appropriated | 9905 | €21,908 | €16,749 | -€5,158 | -23.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.