Master-Sign: 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-Sign
Largest movements
- Cash -€12,074
down €12,074 (-14.6%), from €82,475 to €70,400
mainly Other debts (-€22,798) and Receivables within one year (-€3,404)
- Tangible fixed assets -€10,040
down €10,040 (-14.7%), from €68,216 to €58,175
of which Other tangible fixed assets: -€8,854
- Receivables within one year +€3,404
up €3,404 (+116.3%), from €2,928 to €6,332
of which Trade receivables: +€3,397
- Other debts -€22,798
down €22,798 (-20.0%), from €113,925 to €91,127
- Profit (loss) carried forward +€3,994
up €3,994 (+13.1%), from €30,580 to €34,574
- Trade debts +€1,746
up €1,746 (+101.4%), from €1,721 to €3,468
- Tax, wage and social debts -€1,653
down €1,653 (-21.5%), from €7,692 to €6,039
of which Taxes: -€1,653
- Gross operating margin -€12,058
down €12,058 (-31.1%), from €38,816 to €26,758
- Taxes +€6,653
up €6,653 (+574.4%), from €1,158 to €7,811
- Other operating charges -€2,364
down €2,364 (-69.4%), from €3,405 to €1,041
- Financial charges +€1,407
up €1,407 (+752.4%), from €187 to €1,594
- Depreciation +€833
up €833 (+7.2%), from €11,514 to €12,347
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 | €158,918 | €140,208 | -€18,711 | -11.8% |
| Fixed assets | 21/28 | €68,216 | €58,175 | -€10,040 | -14.7% |
| Tangible fixed assets | 22/27 | €68,216 | €58,175 | -€10,040 | -14.7% |
| Plant, machinery and equipment | 23 | €2,309 | €1,427 | -€883 | -38.2% |
| Furniture and vehicles | 24 | €3,441 | €3,137 | -€303 | -8.8% |
| Other tangible fixed assets | 26 | €62,466 | €53,612 | -€8,854 | -14.2% |
| Current assets | 29/58 | €90,703 | €82,032 | -€8,670 | -9.6% |
| Stocks and contracts in progress | 3 | €3,509 | €3,509 | = | 0.0% |
| Stocks | 30/36 | €3,509 | €3,509 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €2,928 | €6,332 | +€3,404 | +116.3% |
| Trade receivables | 40 | €2,815 | €6,212 | +€3,397 | +120.7% |
| Other amounts receivable | 41 | €113 | €120 | +€7 | +6.0% |
| Cash at bank and in hand | 54/58 | €82,475 | €70,400 | -€12,074 | -14.6% |
| Deferred charges and accrued income | 490/1 | €1,791 | €1,791 | = | 0.0% |
| Total equity and liabilities | 10/49 | €158,918 | €140,208 | -€18,711 | -11.8% |
| Equity | 10/15 | €35,580 | €39,574 | +€3,994 | +11.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €30,580 | €34,574 | +€3,994 | +13.1% |
| Amounts payable | 17/49 | €123,338 | €100,634 | -€22,705 | -18.4% |
| Amounts payable within one year | 42/48 | €123,338 | €100,634 | -€22,705 | -18.4% |
| Trade debts | 44 | €1,721 | €3,468 | +€1,746 | +101.4% |
| Suppliers | 440/4 | €1,721 | €3,468 | +€1,746 | +101.4% |
| Taxes, remuneration and social security | 45 | €7,692 | €6,039 | -€1,653 | -21.5% |
| Taxes | 450/3 | €7,515 | €5,862 | -€1,653 | -22.0% |
| Remuneration and social security | 454/9 | €177 | €177 | = | 0.0% |
| Other amounts payable | 47/48 | €113,925 | €91,127 | -€22,798 | -20.0% |
| Remuneration, social security and pensions | 62 | €175 | - | -€175 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,514 | €12,347 | +€833 | +7.2% |
| Other operating charges | 640/8 | €3,405 | €1,041 | -€2,364 | -69.4% |
| Gross operating margin | 9900 | €38,816 | €26,758 | -€12,058 | -31.1% |
| Operating profit (loss) | 9901 | €23,722 | €13,369 | -€10,353 | -43.6% |
| Financial income | 75/76B | €15 | €30 | +€15 | +102.6% |
| Recurring financial income | 75 | €15 | €30 | +€15 | +102.6% |
| Financial charges | 65/66B | €187 | €1,594 | +€1,407 | +752.4% |
| Recurring financial charges | 65 | €187 | €1,594 | +€1,407 | +752.4% |
| Profit (loss) for the period before taxes | 9903 | €23,550 | €11,806 | -€11,744 | -49.9% |
| Income taxes | 67/77 | €1,158 | €7,811 | +€6,653 | +574.4% |
| Profit (loss) for the period | 9904 | €22,391 | €3,994 | -€18,397 | -82.2% |
| Profit (loss) for the period to be appropriated | 9905 | €22,391 | €3,994 | -€18,397 | -82.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.