MASTERDEPOT: 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.
MASTERDEPOT
Largest movements
- Cash -€41,986
down €41,986 (-48.3%), from €86,986 to €45,000
mainly Accrued charges and deferred income (-€84,000) and Investment in fixed assets (net) (-€31,410)
- Deferred charges and accrued income -€17,741
down €17,741 (-95.3%), from €18,609 to €868
- Stocks and contracts +€15,000
up €15,000 (+10.4%), from €143,650 to €158,650
- Tangible fixed assets +€10,716
up €10,716 (+7.5%), from €143,615 to €154,331
of which Other tangible fixed assets: +€128,903
- Receivables within one year +€9,452
up €9,452 (+203.9%), from €4,634 to €14,086
of which Trade receivables: +€9,452
- Accrued charges and deferred income -€84,000
down €84,000 (-54.5%), from €154,000 to €70,000
- Profit (loss) carried forward +€41,015
up €41,015 (+39.4%), from €104,130 to €145,145
- Tax, wage and social debts +€15,906
up €15,906 (+19.9%), from €79,787 to €95,694
of which Taxes: +€11,705
- Gross operating margin +€44,799
up €44,799 (+20.3%), from €220,484 to €265,283
- Staff costs +€39,990
up €39,990 (+29.2%), from €136,957 to €176,948
- Depreciation +€14,106
up €14,106 (+214.1%), from €6,589 to €20,694
- Other operating charges +€4,915
up €4,915 (+129.4%), from €3,799 to €8,713
- Taxes -€3,837
down €3,837 (-19.6%), from €19,547 to €15,710
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 | €412,670 | €388,110 | -€24,561 | -6.0% |
| Fixed assets | 21/28 | €158,790 | €169,506 | +€10,716 | +6.7% |
| Tangible fixed assets | 22/27 | €143,615 | €154,331 | +€10,716 | +7.5% |
| Plant, machinery and equipment | 23 | €114,476 | - | -€114,476 | |
| Furniture and vehicles | 24 | €21,281 | €17,569 | -€3,712 | -17.4% |
| Other tangible fixed assets | 26 | €7,859 | €136,762 | +€128,903 | +1640.2% |
| Financial fixed assets | 28 | €15,175 | €15,175 | = | 0.0% |
| Current assets | 29/58 | €253,880 | €218,604 | -€35,276 | -13.9% |
| Stocks and contracts in progress | 3 | €143,650 | €158,650 | +€15,000 | +10.4% |
| Stocks | 30/36 | €143,650 | €158,650 | +€15,000 | +10.4% |
| Amounts receivable within one year | 40/41 | €4,634 | €14,086 | +€9,452 | +203.9% |
| Trade receivables | 40 | €82 | €9,533 | +€9,452 | +11537.5% |
| Other amounts receivable | 41 | €4,552 | €4,552 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €86,986 | €45,000 | -€41,986 | -48.3% |
| Deferred charges and accrued income | 490/1 | €18,609 | €868 | -€17,741 | -95.3% |
| Total equity and liabilities | 10/49 | €412,670 | €388,110 | -€24,561 | -6.0% |
| Equity | 10/15 | €115,290 | €156,305 | +€41,015 | +35.6% |
| Contributions | 10/11 | €9,300 | €9,300 | = | 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 | €104,130 | €145,145 | +€41,015 | +39.4% |
| Amounts payable | 17/49 | €297,380 | €231,805 | -€65,576 | -22.1% |
| Amounts payable within one year | 42/48 | €143,380 | €161,805 | +€18,424 | +12.9% |
| Trade debts | 44 | €18,246 | €20,450 | +€2,204 | +12.1% |
| Suppliers | 440/4 | €18,246 | €8,914 | -€9,331 | -51.1% |
| Bills of exchange payable | 441 | - | €11,536 | +€11,536 | |
| Taxes, remuneration and social security | 45 | €79,787 | €95,694 | +€15,906 | +19.9% |
| Taxes | 450/3 | €64,849 | €76,554 | +€11,705 | +18.0% |
| Remuneration and social security | 454/9 | €14,938 | €19,140 | +€4,202 | +28.1% |
| Other amounts payable | 47/48 | €45,347 | €45,662 | +€314 | +0.7% |
| Accrued charges and deferred income | 492/3 | €154,000 | €70,000 | -€84,000 | -54.5% |
| Remuneration, social security and pensions | 62 | €136,957 | €176,948 | +€39,990 | +29.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,589 | €20,694 | +€14,106 | +214.1% |
| Other operating charges | 640/8 | €3,799 | €8,713 | +€4,915 | +129.4% |
| Gross operating margin | 9900 | €220,484 | €265,283 | +€44,799 | +20.3% |
| Operating profit (loss) | 9901 | €73,139 | €58,928 | -€14,212 | -19.4% |
| Financial income | 75/76B | €288 | - | -€288 | |
| Recurring financial income | 75 | €288 | - | -€288 | |
| Financial charges | 65/66B | €1,694 | €2,202 | +€508 | +30.0% |
| Recurring financial charges | 65 | €1,694 | €2,202 | +€508 | +30.0% |
| Profit (loss) for the period before taxes | 9903 | €71,732 | €56,725 | -€15,007 | -20.9% |
| Income taxes | 67/77 | €19,547 | €15,710 | -€3,837 | -19.6% |
| Profit (loss) for the period | 9904 | €52,185 | €41,015 | -€11,170 | -21.4% |
| Profit (loss) for the period to be appropriated | 9905 | €52,185 | €41,015 | -€11,170 | -21.4% |
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 12 October 2026 via checked.be.