Masters @ Solutions: what changed
Two fiscal 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 @ Solutions
Largest movements
- Cash +€91,692
up €91,692 (+119.2%), from €76,932 to €168,624
mainly Net result for the year (+€48,212) and Deferred charges and accrued income (+€40,956)
- Deferred charges and accrued income -€40,956
down €40,956 (-97.8%), from €41,875 to €919
- Receivables within one year -€24,329
down €24,329 (-49.0%), from €49,688 to €25,359
of which Other amounts receivable: -€18,773
- Current investments -€13,500
down €13,500 (-100.0%), from €13,500 to €0
- Tangible fixed assets -€4,331
down €4,331 (-21.7%), from €19,971 to €15,641
of which Leasing and similar rights: -€3,060
- Trade debts +€16,118
up €16,118 (+186.8%), from €8,627 to €24,745
- Current portion of long-term debt -€6,554
down €6,554 (-100.0%), from €6,554 to €0
- Tax, wage and social debts +€3,769
up €3,769 (+55.1%), from €6,843 to €10,613
- Reserves -€3,699
down €3,699 (-1.9%), from €198,199 to €194,500
of which Distributable reserves: -€3,699
- Turnover +€114,689
up €114,689 (+62.7%), from €182,850 to €297,538
- Gross operating margin +€71,955
up €71,955 (+1567.4%), from €4,591 to €76,546
- Purchases and services +€42,169
up €42,169 (+22.8%), from €184,716 to €226,885
- Taxes +€20,768
up €20,768 (+617.3%), from €3,364 to €24,132
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 | €245,431 | €255,453 | +€10,023 | +4.1% |
| Fixed assets | 21/28 | €61,505 | €58,620 | -€2,885 | -4.7% |
| Tangible fixed assets | 22/27 | €19,971 | €15,641 | -€4,331 | -21.7% |
| Plant, machinery and equipment | 23 | €13,618 | €13,476 | -€142 | -1.0% |
| Furniture and vehicles | 24 | €3,293 | €2,164 | -€1,129 | -34.3% |
| Leasing and similar rights | 25 | €3,060 | €0 | -€3,060 | -100.0% |
| Financial fixed assets | 28 | €41,534 | €42,980 | +€1,446 | +3.5% |
| Current assets | 29/58 | €183,925 | €196,833 | +€12,907 | +7.0% |
| Stocks and contracts in progress | 3 | €1,930 | €1,930 | = | 0.0% |
| Stocks | 30/36 | €1,930 | €1,930 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €49,688 | €25,359 | -€24,329 | -49.0% |
| Trade receivables | 40 | €8,520 | €2,964 | -€5,556 | -65.2% |
| Other amounts receivable | 41 | €41,168 | €22,395 | -€18,773 | -45.6% |
| Current investments | 50/53 | €13,500 | €0 | -€13,500 | -100.0% |
| Cash at bank and in hand | 54/58 | €76,932 | €168,624 | +€91,692 | +119.2% |
| Deferred charges and accrued income | 490/1 | €41,875 | €919 | -€40,956 | -97.8% |
| Total equity and liabilities | 10/49 | €245,431 | €255,453 | +€10,023 | +4.1% |
| Equity | 10/15 | €222,767 | €219,281 | -€3,487 | -1.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €198,199 | €194,500 | -€3,699 | -1.9% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Other | 1319 | €0 | - | = | |
| Distributable reserves | 133 | €198,199 | €194,500 | -€3,699 | -1.9% |
| Profit (loss) carried forward | 14 | €4,568 | €4,781 | +€212 | +4.6% |
| Amounts payable | 17/49 | €22,663 | €36,173 | +€13,509 | +59.6% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €22,025 | €35,358 | +€13,333 | +60.5% |
| Current portion of amounts payable after more than one year | 42 | €6,554 | €0 | -€6,554 | -100.0% |
| Trade debts | 44 | €8,627 | €24,745 | +€16,118 | +186.8% |
| Suppliers | 440/4 | €8,627 | €24,745 | +€16,118 | +186.8% |
| Taxes, remuneration and social security | 45 | €6,843 | €10,613 | +€3,769 | +55.1% |
| Taxes | 450/3 | €6,843 | €10,613 | +€3,769 | +55.1% |
| Accrued charges and deferred income | 492/3 | €638 | €815 | +€177 | +27.7% |
| Turnover | 70 | €182,850 | €297,538 | +€114,689 | +62.7% |
| Non-recurring operating income | 76A | €0 | €0 | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €184,716 | €226,885 | +€42,169 | +22.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,334 | €7,831 | -€1,503 | -16.1% |
| Other operating charges | 640/8 | €1,944 | €1,945 | +€0 | 0.0% |
| Gross operating margin | 9900 | €4,591 | €76,546 | +€71,955 | +1567.4% |
| Operating profit (loss) | 9901 | -€6,687 | €66,770 | +€73,457 | |
| Financial income | 75/76B | €3,561 | €4,192 | +€631 | +17.7% |
| Recurring financial income | 75 | €3,561 | €4,192 | +€631 | +17.7% |
| Financial charges | 65/66B | €842 | -€1,382 | -€2,224 | |
| Recurring financial charges | 65 | €842 | -€1,382 | -€2,224 | |
| Profit (loss) for the period before taxes | 9903 | -€3,968 | €72,345 | +€76,313 | |
| Income taxes | 67/77 | €3,364 | €24,132 | +€20,768 | +617.3% |
| Profit (loss) for the period | 9904 | -€7,333 | €48,212 | +€55,545 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,333 | €48,212 | +€55,545 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.