MASTERCARS K: 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.
MASTERCARS K
Largest movements
- Cash +€150,328
up €150,328 (+756%), from €19,875 to €170,203
mainly Short-term financial debts (+€150,000) and Trade debts (+€21,660)
- Stocks and contracts +€52,344
up €52,344 (+82.5%), from €63,485 to €115,829
- Receivables within one year +€7,217
new in 2025: €7,217
of which Other amounts receivable: +€6,633
- Short-term financial debts +€150,000
new in 2025: €150,000
- Trade debts +€21,660
up €21,660 (+260%), from €8,316 to €29,976
- Profit (loss) carried forward +€17,431
up €17,431 (+352%), from €4,959 to €22,390
- Other debts +€16,413
up €16,413 (+20.0%), from €82,226 to €98,639
- Gross operating margin +€22,307
up €22,307 (+235%), from €9,491 to €31,798
- Taxes +€3,555
up €3,555 (+274%), from €1,299 to €4,854
- Depreciation +€3,162
up €3,162 (+184%), from €1,717 to €4,879
- Other operating charges +€2,700
up €2,700 (+181%), from €1,489 to €4,189
- Financial charges +€397
up €397 (+684%), from €58 to €455
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 | €104,797 | €313,708 | +€208,911 | +199% |
| Fixed assets | 21/28 | €18,531 | €17,842 | -€689 | -3.7% |
| Intangible fixed assets | 21 | €82 | €62 | -€20 | -24.4% |
| Tangible fixed assets | 22/27 | €18,449 | €17,780 | -€669 | -3.6% |
| Plant, machinery and equipment | 23 | €1,028 | €2,069 | +€1,041 | +101% |
| Furniture and vehicles | 24 | €9,206 | €8,148 | -€1,058 | -11.5% |
| Other tangible fixed assets | 26 | €8,215 | €7,563 | -€652 | -7.9% |
| Current assets | 29/58 | €86,266 | €295,866 | +€209,600 | +243% |
| Stocks and contracts in progress | 3 | €63,485 | €115,829 | +€52,344 | +82.5% |
| Stocks | 30/36 | €63,485 | €115,829 | +€52,344 | +82.5% |
| Amounts receivable within one year | 40/41 | - | €7,217 | +€7,217 | |
| Trade receivables | 40 | - | €584 | +€584 | |
| Other amounts receivable | 41 | - | €6,633 | +€6,633 | |
| Cash at bank and in hand | 54/58 | €19,875 | €170,203 | +€150,328 | +756% |
| Deferred charges and accrued income | 490/1 | €2,906 | €2,617 | -€289 | -9.9% |
| Total equity and liabilities | 10/49 | €104,797 | €313,708 | +€208,911 | +199% |
| Equity | 10/15 | €10,959 | €28,390 | +€17,431 | +159% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,959 | €22,390 | +€17,431 | +352% |
| Amounts payable | 17/49 | €93,838 | €285,318 | +€191,480 | +204% |
| Amounts payable within one year | 42/48 | €93,838 | €285,318 | +€191,480 | +204% |
| Financial debts | 43 | - | €150,000 | +€150,000 | |
| Other loans | 439 | - | €150,000 | +€150,000 | |
| Trade debts | 44 | €8,316 | €29,976 | +€21,660 | +260% |
| Suppliers | 440/4 | €8,316 | €29,976 | +€21,660 | +260% |
| Advances received on contracts in progress | 46 | €500 | €1,600 | +€1,100 | +220% |
| Taxes, remuneration and social security | 45 | €2,796 | €5,103 | +€2,307 | +82.5% |
| Taxes | 450/3 | €1,744 | €4,854 | +€3,110 | +178% |
| Remuneration and social security | 454/9 | €1,052 | €249 | -€803 | -76.3% |
| Other amounts payable | 47/48 | €82,226 | €98,639 | +€16,413 | +20.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,717 | €4,879 | +€3,162 | +184% |
| Other operating charges | 640/8 | €1,489 | €4,189 | +€2,700 | +181% |
| Gross operating margin | 9900 | €9,491 | €31,798 | +€22,307 | +235% |
| Operating profit (loss) | 9901 | €6,285 | €22,730 | +€16,445 | +262% |
| Financial income | 75/76B | €31 | €10 | -€21 | -67.7% |
| Recurring financial income | 75 | €31 | €10 | -€21 | -67.7% |
| Financial charges | 65/66B | €58 | €455 | +€397 | +684% |
| Recurring financial charges | 65 | €58 | €455 | +€397 | +684% |
| Profit (loss) for the period before taxes | 9903 | €6,258 | €22,285 | +€16,027 | +256% |
| Income taxes | 67/77 | €1,299 | €4,854 | +€3,555 | +274% |
| Profit (loss) for the period | 9904 | €4,959 | €17,431 | +€12,472 | +252% |
| Profit (loss) for the period to be appropriated | 9905 | €4,959 | €17,431 | +€12,472 | +252% |
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 25 October 2026 via checked.be.