MASTER DESIGN: 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 DESIGN
Largest movements
- Cash +€45,233
up €45,233 (+327%), from €13,813 to €59,046
mainly Depreciation (+€33,528) and Other debts (+€29,081)
- Tangible fixed assets -€26,033
down €26,033 (-3.9%), from €666,601 to €640,568
of which Land and buildings: -€18,017
- Provisions -€31,107
down €31,107 (-100%), from €31,107 to €0
- Other debts +€29,081
up €29,081 (+12.9%), from €225,213 to €254,294
- Trade debts +€23,238
up €23,238 (+65.6%), from €35,425 to €58,663
- Profit (loss) carried forward +€21,873
up €21,873 (+44.7%), from -€48,921 to -€27,048
- Debts after one year -€15,288
down €15,288 (-4.5%), from €338,992 to €323,704
- Gross operating margin +€80,211
up €80,211 (+127%), from €63,077 to €143,288
- Financial charges +€48,721
up €48,721 (+583%), from €8,363 to €57,084
of which Non-recurring financial charges: +€48,925
- Write-downs -€31,107
new in 2025: -€31,107
- Staff costs +€12,769
up €12,769 (+29.4%), from €43,375 to €56,144
- Other operating charges +€4,793
up €4,793 (+396%), from €1,211 to €6,004
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 | €1,022,191 | €1,038,955 | +€16,764 | +1.6% |
| Fixed assets | 21/28 | €690,601 | €658,568 | -€32,033 | -4.6% |
| Intangible fixed assets | 21 | €24,000 | €18,000 | -€6,000 | -25.0% |
| Tangible fixed assets | 22/27 | €666,601 | €640,568 | -€26,033 | -3.9% |
| Land and buildings | 22 | €650,230 | €632,213 | -€18,017 | -2.8% |
| Plant, machinery and equipment | 23 | €5,450 | €3,653 | -€1,797 | -33.0% |
| Furniture and vehicles | 24 | €10,921 | €4,702 | -€6,219 | -56.9% |
| Current assets | 29/58 | €331,589 | €380,387 | +€48,798 | +14.7% |
| Amounts receivable within one year | 40/41 | €311,597 | €314,829 | +€3,232 | +1.0% |
| Trade receivables | 40 | €1,457 | €6,689 | +€5,232 | +359% |
| Other amounts receivable | 41 | €310,140 | €308,140 | -€2,000 | -0.6% |
| Cash at bank and in hand | 54/58 | €13,813 | €59,046 | +€45,233 | +327% |
| Deferred charges and accrued income | 490/1 | €6,180 | €6,512 | +€332 | +5.4% |
| Total equity and liabilities | 10/49 | €1,022,191 | €1,038,955 | +€16,764 | +1.6% |
| Equity | 10/15 | €357,681 | €379,555 | +€21,874 | +6.1% |
| Contributions | 10/11 | €320,000 | €320,000 | = | 0.0% |
| Revaluation surpluses | 12 | €85,603 | €85,603 | +€0 | 0.0% |
| Reserves | 13 | €1,000 | €1,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,000 | €1,000 | = | 0.0% |
| Other | 1319 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€48,921 | -€27,048 | +€21,873 | +44.7% |
| Provisions and deferred taxes | 16 | €31,107 | €0 | -€31,107 | -100% |
| Provisions for liabilities and charges | 160/5 | €31,107 | €0 | -€31,107 | -100% |
| Other liabilities and charges | 164/5 | €31,107 | €0 | -€31,107 | -100% |
| Amounts payable | 17/49 | €633,402 | €659,400 | +€25,998 | +4.1% |
| Amounts payable after more than one year | 17 | €338,992 | €323,704 | -€15,288 | -4.5% |
| Financial debts | 170/4 | €338,992 | €323,704 | -€15,288 | -4.5% |
| Amounts payable within one year | 42/48 | €292,410 | €335,696 | +€43,286 | +14.8% |
| Current portion of amounts payable after more than one year | 42 | €19,791 | €17,805 | -€1,986 | -10.0% |
| Trade debts | 44 | €35,425 | €58,663 | +€23,238 | +65.6% |
| Suppliers | 440/4 | €35,425 | €58,663 | +€23,238 | +65.6% |
| Taxes, remuneration and social security | 45 | €11,980 | €4,934 | -€7,046 | -58.8% |
| Taxes | 450/3 | €11,980 | €4,934 | -€7,046 | -58.8% |
| Other amounts payable | 47/48 | €225,213 | €254,294 | +€29,081 | +12.9% |
| Accrued charges and deferred income | 492/3 | €2,000 | €0 | -€2,000 | -100% |
| Remuneration, social security and pensions | 62 | €43,375 | €56,144 | +€12,769 | +29.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,077 | €33,528 | -€549 | -1.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€31,107 | -€31,107 | |
| Other operating charges | 640/8 | €1,211 | €6,004 | +€4,793 | +396% |
| Gross operating margin | 9900 | €63,077 | €143,288 | +€80,211 | +127% |
| Operating profit (loss) | 9901 | -€15,586 | €78,719 | +€94,305 | |
| Financial income | 75/76B | - | €238 | +€238 | |
| Recurring financial income | 75 | - | €238 | +€238 | |
| Non-recurring financial income | 76B | - | €238 | +€238 | |
| Financial charges | 65/66B | €8,363 | €57,084 | +€48,721 | +583% |
| Recurring financial charges | 65 | €8,363 | €8,159 | -€204 | -2.4% |
| Non-recurring financial charges | 66B | - | €48,925 | +€48,925 | |
| Profit (loss) for the period before taxes | 9903 | -€23,949 | €21,873 | +€45,822 | |
| Profit (loss) for the period | 9904 | -€23,949 | €21,873 | +€45,822 | |
| Profit (loss) for the period to be appropriated | 9905 | -€23,949 | €21,873 | +€45,822 |
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 23 October 2026 via checked.be.