Masters in SU: 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.
Masters in SU
Largest movements
- Cash -€15,574
down €15,574 (-51.8%), from €30,065 to €14,491
mainly Net result for the year (-€16,143) and Trade debts (-€1,131)
- Intangible fixed assets -€992
down €992 (-50.1%), from €1,980 to €988
- Tangible fixed assets -€673
down €673 (-59.8%), from €1,125 to €453
of which Furniture and vehicles: -€495
- Deferred charges and accrued income -€519
down €519 (-53.2%), from €975 to €457
- Profit (loss) carried forward -€16,143
down €16,143, from €537 to -€15,605
- Trade debts -€1,131
down €1,131 (-22.0%), from €5,150 to €4,019
- Tax, wage and social debts -€637
down €637 (-85.9%), from €742 to €105
- Gross operating margin -€19,464
down €19,464, from €5,852 to -€13,612
- Taxes -€1,038
no longer reported in 2025 (was €1,038)
- Depreciation -€659
down €659 (-28.3%), from €2,323 to €1,664
- Other operating charges -€168
down €168 (-27.7%), from €605 to €437
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 | €37,920 | €20,009 | -€17,912 | -47.2% |
| Fixed assets | 21/28 | €3,105 | €1,441 | -€1,664 | -53.6% |
| Intangible fixed assets | 21 | €1,980 | €988 | -€992 | -50.1% |
| Tangible fixed assets | 22/27 | €1,125 | €453 | -€673 | -59.8% |
| Plant, machinery and equipment | 23 | €177 | - | -€177 | |
| Furniture and vehicles | 24 | €948 | €453 | -€495 | -52.2% |
| Current assets | 29/58 | €34,816 | €18,568 | -€16,247 | -46.7% |
| Amounts receivable within one year | 40/41 | €3,775 | €3,621 | -€155 | -4.1% |
| Trade receivables | 40 | €3,332 | €2,904 | -€428 | -12.8% |
| Other amounts receivable | 41 | €444 | €717 | +€273 | +61.5% |
| Cash at bank and in hand | 54/58 | €30,065 | €14,491 | -€15,574 | -51.8% |
| Deferred charges and accrued income | 490/1 | €975 | €457 | -€519 | -53.2% |
| Total equity and liabilities | 10/49 | €37,920 | €20,009 | -€17,912 | -47.2% |
| Equity | 10/15 | €28,134 | €11,992 | -€16,143 | -57.4% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €25,597 | €25,597 | = | 0.0% |
| Distributable reserves | 133 | €25,597 | €25,597 | = | 0.0% |
| Profit (loss) carried forward | 14 | €537 | -€15,605 | -€16,143 | |
| Amounts payable | 17/49 | €9,786 | €8,017 | -€1,769 | -18.1% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €9,786 | €8,017 | -€1,769 | -18.1% |
| Trade debts | 44 | €5,150 | €4,019 | -€1,131 | -22.0% |
| Suppliers | 440/4 | €5,150 | €4,019 | -€1,131 | -22.0% |
| Taxes, remuneration and social security | 45 | €742 | €105 | -€637 | -85.9% |
| Taxes | 450/3 | €742 | €105 | -€637 | -85.9% |
| Other amounts payable | 47/48 | €3,894 | €3,894 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,323 | €1,664 | -€659 | -28.3% |
| Other operating charges | 640/8 | €605 | €437 | -€168 | -27.7% |
| Gross operating margin | 9900 | €5,852 | -€13,612 | -€19,464 | |
| Operating profit (loss) | 9901 | €2,924 | -€15,713 | -€18,638 | |
| Financial charges | 65/66B | €496 | €429 | -€67 | -13.5% |
| Recurring financial charges | 65 | €496 | €429 | -€67 | -13.5% |
| Profit (loss) for the period before taxes | 9903 | €2,428 | -€16,143 | -€18,570 | |
| Income taxes | 67/77 | €1,038 | - | -€1,038 | |
| Profit (loss) for the period | 9904 | €1,390 | -€16,143 | -€17,532 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,390 | -€16,143 | -€17,532 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.