Master in Matching: 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 in Matching
Largest movements
- Receivables within one year +€23,080
up €23,080 (+11.6%), from €198,395 to €221,476
of which Trade receivables: +€21,395
- Stocks and contracts -€6,801
down €6,801 (-64.5%), from €10,551 to €3,750
- Tangible fixed assets +€5,273
up €5,273 (+85.1%), from €6,196 to €11,470
of which Other tangible fixed assets: +€5,745
- Accrued charges and deferred income +€12,068
new in 2025: €12,068
- Reserves +€11,757
up €11,757 (+6.3%), from €185,581 to €197,339
- Tax, wage and social debts -€4,047
down €4,047 (-27.3%), from €14,809 to €10,762
of which Taxes: -€4,047
- Trade debts +€3,189
up €3,189 (+18.3%), from €17,445 to €20,634
- Gross operating margin -€54,625
down €54,625 (-83.0%), from €65,847 to €11,222
- Staff costs -€25,921
down €25,921 (-100%), from €25,921 to €0
- Financial charges -€2,550
down €2,550 (-69.0%), from €3,695 to €1,146
- Other operating charges -€1,816
down €1,816 (-70.6%), from €2,572 to €756
- Depreciation +€1,087
up €1,087 (+68.3%), from €1,592 to €2,679
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 | €219,835 | €242,802 | +€22,967 | +10.4% |
| Fixed assets | 21/28 | €8,936 | €13,557 | +€4,621 | +51.7% |
| Intangible fixed assets | 21 | €2,739 | €2,087 | -€652 | -23.8% |
| Tangible fixed assets | 22/27 | €6,196 | €11,470 | +€5,273 | +85.1% |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €1,408 | €936 | -€472 | -33.5% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Other tangible fixed assets | 26 | €4,788 | €10,534 | +€5,745 | +120% |
| Current assets | 29/58 | €210,900 | €229,245 | +€18,345 | +8.7% |
| Stocks and contracts in progress | 3 | €10,551 | €3,750 | -€6,801 | -64.5% |
| Stocks | 30/36 | €10,551 | €3,750 | -€6,801 | -64.5% |
| Amounts receivable within one year | 40/41 | €198,395 | €221,476 | +€23,080 | +11.6% |
| Trade receivables | 40 | €624 | €22,019 | +€21,395 | +3,429% |
| Other amounts receivable | 41 | €197,771 | €199,457 | +€1,685 | +0.9% |
| Cash at bank and in hand | 54/58 | €1,339 | €2,855 | +€1,516 | +113% |
| Deferred charges and accrued income | 490/1 | €614 | €1,165 | +€551 | +89.7% |
| Total equity and liabilities | 10/49 | €219,835 | €242,802 | +€22,967 | +10.4% |
| Equity | 10/15 | €187,581 | €199,339 | +€11,757 | +6.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €185,581 | €197,339 | +€11,757 | +6.3% |
| Distributable reserves | 133 | €185,581 | €197,339 | +€11,757 | +6.3% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €32,254 | €43,464 | +€11,209 | +34.8% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €32,254 | €31,396 | -€859 | -2.7% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €17,445 | €20,634 | +€3,189 | +18.3% |
| Suppliers | 440/4 | €17,445 | €20,634 | +€3,189 | +18.3% |
| Taxes, remuneration and social security | 45 | €14,809 | €10,762 | -€4,047 | -27.3% |
| Taxes | 450/3 | €14,809 | €10,762 | -€4,047 | -27.3% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | - | €12,068 | +€12,068 | |
| Remuneration, social security and pensions | 62 | €25,921 | €0 | -€25,921 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,592 | €2,679 | +€1,087 | +68.3% |
| Other operating charges | 640/8 | €2,572 | €756 | -€1,816 | -70.6% |
| Non-recurring operating charges | 66A | €21,358 | €0 | -€21,358 | -100% |
| Gross operating margin | 9900 | €65,847 | €11,222 | -€54,625 | -83.0% |
| Operating profit (loss) | 9901 | €14,404 | €7,787 | -€6,617 | -45.9% |
| Financial income | 75/76B | €10,573 | €11,425 | +€851 | +8.1% |
| Recurring financial income | 75 | €10,573 | €11,425 | +€851 | +8.1% |
| Financial charges | 65/66B | €3,695 | €1,146 | -€2,550 | -69.0% |
| Recurring financial charges | 65 | €3,695 | €1,146 | -€2,550 | -69.0% |
| Profit (loss) for the period before taxes | 9903 | €21,282 | €18,066 | -€3,216 | -15.1% |
| Income taxes | 67/77 | €6,307 | €6,309 | +€2 | 0.0% |
| Profit (loss) for the period | 9904 | €14,975 | €11,757 | -€3,217 | -21.5% |
| Profit (loss) for the period to be appropriated | 9905 | €14,975 | €11,757 | -€3,217 | -21.5% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.