MASTER-FISCO: 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-FISCO
Largest movements
- Receivables within one year -€10,001
down €10,001 (-29.7%), from €33,696 to €23,695
of which Other amounts receivable: -€12,417
- Cash -€6,234
down €6,234 (-74.7%), from €8,347 to €2,113
mainly Debts after one year (-€15,342) and Trade debts (-€2,659)
- Debts after one year -€15,342
no longer reported in 2025 (was €15,342)
- Trade debts -€2,659
no longer reported in 2025 (was €2,659)
- Profit (loss) carried forward +€1,900
up €1,900 (+10.7%), from €17,708 to €19,608
- Gross operating margin -€8,302
down €8,302 (-67.2%), from €12,355 to €4,053
- Depreciation -€5,350
no longer reported in 2025 (was €5,350)
- Taxes +€1,129
up €1,129 (+122%), from €924 to €2,053
- Financial charges -€197
down €197 (-66.3%), from €297 to €100
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 | €42,044 | €25,808 | -€16,236 | -38.6% |
| Current assets | 29/58 | €42,044 | €25,808 | -€16,236 | -38.6% |
| Amounts receivable within one year | 40/41 | €33,696 | €23,695 | -€10,001 | -29.7% |
| Trade receivables | 40 | €21,279 | €23,695 | +€2,416 | +11.4% |
| Other amounts receivable | 41 | €12,417 | - | -€12,417 | |
| Cash at bank and in hand | 54/58 | €8,347 | €2,113 | -€6,234 | -74.7% |
| Total equity and liabilities | 10/49 | €42,044 | €25,808 | -€16,236 | -38.6% |
| Equity | 10/15 | €23,908 | €25,808 | +€1,900 | +7.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | €6,200 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €12,400 | €12,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | €17,708 | €19,608 | +€1,900 | +10.7% |
| Amounts payable | 17/49 | €18,135 | - | -€18,135 | |
| Amounts payable after more than one year | 17 | €15,342 | - | -€15,342 | |
| Financial debts | 170/4 | €15,342 | - | -€15,342 | |
| Amounts payable within one year | 42/48 | €2,793 | - | -€2,793 | |
| Trade debts | 44 | €2,659 | - | -€2,659 | |
| Suppliers | 440/4 | €2,659 | - | -€2,659 | |
| Taxes, remuneration and social security | 45 | €134 | - | -€134 | |
| Taxes | 450/3 | €134 | - | -€134 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,350 | - | -€5,350 | |
| Gross operating margin | 9900 | €12,355 | €4,053 | -€8,302 | -67.2% |
| Operating profit (loss) | 9901 | €7,005 | €4,053 | -€2,952 | -42.1% |
| Financial charges | 65/66B | €297 | €100 | -€197 | -66.3% |
| Recurring financial charges | 65 | €297 | €100 | -€197 | -66.3% |
| Profit (loss) for the period before taxes | 9903 | €6,708 | €3,953 | -€2,755 | -41.1% |
| Income taxes | 67/77 | €924 | €2,053 | +€1,129 | +122% |
| Profit (loss) for the period | 9904 | €5,783 | €1,900 | -€3,884 | -67.2% |
| Profit (loss) for the period to be appropriated | 9905 | €5,783 | €1,900 | -€3,884 | -67.2% |
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 30 October 2026 via checked.be.