MASTER PROF: 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 PROF
Largest movements
- Tangible fixed assets -€25,116
down €25,116 (-32.5%), from €77,275 to €52,159
of which Furniture and vehicles: -€24,901
- Receivables within one year +€11,933
up €11,933 (+33.5%), from €35,670 to €47,604
of which Trade receivables: +€19,070
- Stocks and contracts +€7,380
up €7,380 (+3.1%), from €240,710 to €248,090
- Debts after one year -€18,188
down €18,188 (-49.6%), from €36,654 to €18,467
- Profit (loss) carried forward +€8,603
up €8,603 (+14.7%), from €58,558 to €67,161
- Current portion of long-term debt +€6,572
up €6,572 (+3.3%), from €198,152 to €204,724
- Gross operating margin -€4,410
down €4,410 (-8.0%), from €54,922 to €50,512
- Financial income -€3,164
down €3,164 (-100.0%), from €3,164 to €0
of which Non-recurring financial income: -€3,119
- Depreciation -€2,326
down €2,326 (-8.5%), from €27,442 to €25,116
- Taxes -€1,459
down €1,459 (-37.6%), from €3,876 to €2,417
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 | €356,963 | €353,783 | -€3,180 | -0.9% |
| Fixed assets | 21/28 | €78,925 | €53,809 | -€25,116 | -31.8% |
| Tangible fixed assets | 22/27 | €77,275 | €52,159 | -€25,116 | -32.5% |
| Plant, machinery and equipment | 23 | €257 | €43 | -€214 | -83.3% |
| Furniture and vehicles | 24 | €77,018 | €52,116 | -€24,901 | -32.3% |
| Financial fixed assets | 28 | €1,650 | €1,650 | = | 0.0% |
| Current assets | 29/58 | €278,038 | €299,974 | +€21,936 | +7.9% |
| Stocks and contracts in progress | 3 | €240,710 | €248,090 | +€7,380 | +3.1% |
| Stocks | 30/36 | €240,710 | €248,090 | +€7,380 | +3.1% |
| Amounts receivable within one year | 40/41 | €35,670 | €47,604 | +€11,933 | +33.5% |
| Trade receivables | 40 | €26,244 | €45,314 | +€19,070 | +72.7% |
| Other amounts receivable | 41 | €9,426 | €2,290 | -€7,136 | -75.7% |
| Cash at bank and in hand | 54/58 | - | €2,320 | +€2,320 | |
| Deferred charges and accrued income | 490/1 | €1,657 | €1,960 | +€303 | +18.3% |
| Total equity and liabilities | 10/49 | €356,963 | €353,783 | -€3,180 | -0.9% |
| Equity | 10/15 | €66,618 | €75,221 | +€8,603 | +12.9% |
| 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 | €58,558 | €67,161 | +€8,603 | +14.7% |
| Amounts payable | 17/49 | €290,345 | €278,562 | -€11,783 | -4.1% |
| Amounts payable after more than one year | 17 | €36,654 | €18,467 | -€18,188 | -49.6% |
| Financial debts | 170/4 | €36,654 | €18,467 | -€18,188 | -49.6% |
| Amounts payable within one year | 42/48 | €253,691 | €260,095 | +€6,404 | +2.5% |
| Current portion of amounts payable after more than one year | 42 | €198,152 | €204,724 | +€6,572 | +3.3% |
| Financial debts | 43 | €17 | - | -€17 | |
| Credit institutions | 430/8 | €17 | - | -€17 | |
| Trade debts | 44 | €27,485 | €25,918 | -€1,567 | -5.7% |
| Suppliers | 440/4 | €27,485 | €25,918 | -€1,567 | -5.7% |
| Taxes, remuneration and social security | 45 | €3,876 | €2,878 | -€998 | -25.7% |
| Taxes | 450/3 | €3,876 | €2,878 | -€998 | -25.7% |
| Other amounts payable | 47/48 | €24,160 | €26,574 | +€2,415 | +10.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,442 | €25,116 | -€2,326 | -8.5% |
| Other operating charges | 640/8 | €1,718 | €1,294 | -€424 | -24.7% |
| Gross operating margin | 9900 | €54,922 | €50,512 | -€4,410 | -8.0% |
| Operating profit (loss) | 9901 | €25,762 | €24,103 | -€1,660 | -6.4% |
| Financial income | 75/76B | €3,164 | €0 | -€3,164 | -100.0% |
| Recurring financial income | 75 | €45 | €0 | -€45 | -99.2% |
| Non-recurring financial income | 76B | €3,119 | - | -€3,119 | |
| Financial charges | 65/66B | €12,849 | €13,082 | +€233 | +1.8% |
| Recurring financial charges | 65 | €12,849 | €13,082 | +€233 | +1.8% |
| Profit (loss) for the period before taxes | 9903 | €16,077 | €11,021 | -€5,056 | -31.4% |
| Income taxes | 67/77 | €3,876 | €2,417 | -€1,459 | -37.6% |
| Profit (loss) for the period | 9904 | €12,200 | €8,603 | -€3,597 | -29.5% |
| Profit (loss) for the period to be appropriated | 9905 | €12,200 | €8,603 | -€3,597 | -29.5% |
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 11 October 2026 via checked.be.