MASTERHOUSE: 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.
MASTERHOUSE
Largest movements
- Receivables within one year +€10,108
up €10,108 (+120%), from €8,398 to €18,506
- Cash -€6,367
down €6,367 (-85.2%), from €7,477 to €1,109
mainly Receivables within one year (-€10,108) and Stocks and contracts (-€3,000)
- Tangible fixed assets -€3,658
down €3,658 (-32.2%), from €11,355 to €7,697
- Stocks and contracts +€3,000
new in 2025: €3,000
- Trade debts +€1,586
up €1,586 (+163%), from €973 to €2,558
- Tax, wage and social debts +€695
up €695 (+6.8%), from €10,202 to €10,897
of which Taxes: +€695
- Profit (loss) carried forward +€421
up €421 (+4.7%), from -€9,022 to -€8,601
- Gross operating margin +€6,294
up €6,294 (+351%), from €1,794 to €8,087
- Depreciation -€3,054
down €3,054 (-45.5%), from €6,712 to €3,658
- Financial charges -€159
down €159 (-4.9%), from €3,267 to €3,108
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 | €27,343 | €30,312 | +€2,969 | +10.9% |
| Fixed assets | 21/28 | €11,355 | €7,697 | -€3,658 | -32.2% |
| Tangible fixed assets | 22/27 | €11,355 | €7,697 | -€3,658 | -32.2% |
| Plant, machinery and equipment | 23 | €11,355 | €7,697 | -€3,658 | -32.2% |
| Current assets | 29/58 | €15,989 | €22,615 | +€6,627 | +41.4% |
| Stocks and contracts in progress | 3 | - | €3,000 | +€3,000 | |
| Contracts in progress | 37 | - | €3,000 | +€3,000 | |
| Amounts receivable within one year | 40/41 | €8,398 | €18,506 | +€10,108 | +120% |
| Trade receivables | 40 | €8,398 | €18,506 | +€10,108 | +120% |
| Cash at bank and in hand | 54/58 | €7,477 | €1,109 | -€6,367 | -85.2% |
| Deferred charges and accrued income | 490/1 | €114 | €0 | -€114 | -100% |
| Total equity and liabilities | 10/49 | €27,343 | €30,312 | +€2,969 | +10.9% |
| Equity | 10/15 | €8,933 | €9,354 | +€421 | +4.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €12,955 | €12,955 | = | 0.0% |
| Distributable reserves | 133 | €12,955 | €12,955 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€9,022 | -€8,601 | +€421 | +4.7% |
| Amounts payable | 17/49 | €18,411 | €20,958 | +€2,548 | +13.8% |
| Amounts payable within one year | 42/48 | €18,411 | €20,958 | +€2,548 | +13.8% |
| Trade debts | 44 | €973 | €2,558 | +€1,586 | +163% |
| Suppliers | 440/4 | €973 | €2,558 | +€1,586 | +163% |
| Taxes, remuneration and social security | 45 | €10,202 | €10,897 | +€695 | +6.8% |
| Taxes | 450/3 | €8,202 | €8,897 | +€695 | +8.5% |
| Remuneration and social security | 454/9 | €2,000 | €2,000 | = | 0.0% |
| Other amounts payable | 47/48 | €7,236 | €7,503 | +€267 | +3.7% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,712 | €3,658 | -€3,054 | -45.5% |
| Other operating charges | 640/8 | €704 | €760 | +€55 | +7.9% |
| Gross operating margin | 9900 | €1,794 | €8,087 | +€6,294 | +351% |
| Operating profit (loss) | 9901 | -€5,623 | €3,670 | +€9,292 | |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €3,267 | €3,108 | -€159 | -4.9% |
| Recurring financial charges | 65 | €3,267 | €3,108 | -€159 | -4.9% |
| Profit (loss) for the period before taxes | 9903 | -€8,889 | €562 | +€9,451 | |
| Income taxes | 67/77 | €133 | €141 | +€8 | +6.3% |
| Profit (loss) for the period | 9904 | -€9,022 | €421 | +€9,443 | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,022 | €421 | +€9,443 |
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.