MASTERDAK: 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.
MASTERDAK
Largest movements
- Deferred charges and accrued income +€20,095
new in 2025: €20,095
- Tangible fixed assets -€2,976
down €2,976 (-30.0%), from €9,930 to €6,954
of which Furniture and vehicles: -€5,384
- Receivables within one year +€2,348
up €2,348 (+5.5%), from €42,811 to €45,159
of which Other amounts receivable: +€1,848
- Cash -€2,023
down €2,023 (-61.7%), from €3,278 to €1,255
mainly Deferred charges and accrued income (-€20,095) and Contributions, distributions and other (-€13,369)
- Tax, wage and social debts +€10,828
up €10,828 (+364.0%), from €2,975 to €13,802
- Other debts +€3,963
up €3,963 (+11.5%), from €34,400 to €38,363
- Reserves +€2,460
up €2,460 (+7.6%), from €32,519 to €34,979
of which Distributable reserves: +€2,460
- Gross operating margin +€8,313
up €8,313 (+36.4%), from €22,860 to €31,174
- Taxes +€4,582
up €4,582 (+173.2%), from €2,646 to €7,228
- Financial charges -€3,868
down €3,868 (-40.4%), from €9,569 to €5,701
- Depreciation -€2,064
down €2,064 (-55.3%), from €3,730 to €1,666
- Other operating charges +€365
up €365 (+94.6%), from €386 to €751
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 | €96,018 | €113,463 | +€17,444 | +18.2% |
| Fixed assets | 21/28 | €49,930 | €46,954 | -€2,976 | -6.0% |
| Tangible fixed assets | 22/27 | €9,930 | €6,954 | -€2,976 | -30.0% |
| Land and buildings | 22 | €4,081 | €6,023 | +€1,942 | +47.6% |
| Plant, machinery and equipment | 23 | - | €930 | +€930 | |
| Furniture and vehicles | 24 | €5,384 | €0 | -€5,384 | -100.0% |
| Other tangible fixed assets | 26 | €464 | €0 | -€464 | -100.0% |
| Financial fixed assets | 28 | €40,000 | €40,000 | = | 0.0% |
| Current assets | 29/58 | €46,089 | €66,509 | +€20,421 | +44.3% |
| Amounts receivable within one year | 40/41 | €42,811 | €45,159 | +€2,348 | +5.5% |
| Trade receivables | 40 | €40,275 | €40,775 | +€500 | +1.2% |
| Other amounts receivable | 41 | €2,536 | €4,384 | +€1,848 | +72.9% |
| Cash at bank and in hand | 54/58 | €3,278 | €1,255 | -€2,023 | -61.7% |
| Deferred charges and accrued income | 490/1 | - | €20,095 | +€20,095 | |
| Total equity and liabilities | 10/49 | €96,018 | €113,463 | +€17,444 | +18.2% |
| Equity | 10/15 | €38,719 | €41,179 | +€2,460 | +6.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €32,519 | €34,979 | +€2,460 | +7.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €30,659 | €33,119 | +€2,460 | +8.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €57,300 | €72,284 | +€14,985 | +26.2% |
| Amounts payable within one year | 42/48 | €57,300 | €72,284 | +€14,985 | +26.2% |
| Financial debts | 43 | €405 | €0 | -€404 | -100.0% |
| Credit institutions | 430/8 | €405 | €0 | -€404 | -100.0% |
| Trade debts | 44 | €19,520 | €20,119 | +€598 | +3.1% |
| Suppliers | 440/4 | €19,520 | €20,119 | +€598 | +3.1% |
| Taxes, remuneration and social security | 45 | €2,975 | €13,802 | +€10,828 | +364.0% |
| Taxes | 450/3 | €2,975 | €13,802 | +€10,828 | +364.0% |
| Other amounts payable | 47/48 | €34,400 | €38,363 | +€3,963 | +11.5% |
| Non-recurring operating income | 76A | - | €3,745 | +€3,745 | |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,730 | €1,666 | -€2,064 | -55.3% |
| Other operating charges | 640/8 | €386 | €751 | +€365 | +94.6% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €22,860 | €31,174 | +€8,313 | +36.4% |
| Operating profit (loss) | 9901 | €18,745 | €28,757 | +€10,013 | +53.4% |
| Financial income | 75/76B | €94 | €0 | -€94 | -99.7% |
| Recurring financial income | 75 | €94 | €0 | -€94 | -99.7% |
| Financial charges | 65/66B | €9,569 | €5,701 | -€3,868 | -40.4% |
| Recurring financial charges | 65 | €9,569 | €5,701 | -€3,868 | -40.4% |
| Profit (loss) for the period before taxes | 9903 | €9,269 | €23,057 | +€13,787 | +148.7% |
| Income taxes | 67/77 | €2,646 | €7,228 | +€4,582 | +173.2% |
| Profit (loss) for the period | 9904 | €6,623 | €15,829 | +€9,205 | +139.0% |
| Profit (loss) for the period to be appropriated | 9905 | €6,623 | €15,829 | +€9,205 | +139.0% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.