MB MASTERS: 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.
MB MASTERS
Largest movements
- Cash -€30,066
down €30,066 (-54.9%), from €54,806 to €24,741
mainly Investment in fixed assets (net) (-€19,000) and Receivables within one year (-€16,180)
- Receivables within one year +€16,180
up €16,180 (+23.1%), from €70,059 to €86,239
of which Other amounts receivable: +€15,514
- Tangible fixed assets +€7,016
up €7,016 (+27.3%), from €25,721 to €32,737
- Profit (loss) carried forward +€17,168
up €17,168 (+15.5%), from €110,849 to €128,017
- Trade debts -€13,283
down €13,283 (-93.6%), from €14,192 to €909
- Tax, wage and social debts -€12,176
down €12,176 (-45.8%), from €26,583 to €14,406
of which Taxes: -€16,226
- Gross operating margin -€64,723
down €64,723 (-50.5%), from €128,144 to €63,422
- Taxes -€13,116
down €13,116 (-70.7%), from €18,542 to €5,426
- Depreciation +€4,404
up €4,404 (+58.1%), from €7,579 to €11,984
- Staff costs -€2,726
down €2,726 (-9.3%), from €29,175 to €26,449
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 | €153,124 | €144,832 | -€8,291 | -5.4% |
| Fixed assets | 21/28 | €26,006 | €33,022 | +€7,016 | +27.0% |
| Tangible fixed assets | 22/27 | €25,721 | €32,737 | +€7,016 | +27.3% |
| Furniture and vehicles | 24 | €25,721 | €32,737 | +€7,016 | +27.3% |
| Financial fixed assets | 28 | €285 | €285 | = | 0.0% |
| Current assets | 29/58 | €127,118 | €111,810 | -€15,308 | -12.0% |
| Amounts receivable within one year | 40/41 | €70,059 | €86,239 | +€16,180 | +23.1% |
| Trade receivables | 40 | €15,824 | €16,490 | +€666 | +4.2% |
| Other amounts receivable | 41 | €54,234 | €69,749 | +€15,514 | +28.6% |
| Cash at bank and in hand | 54/58 | €54,806 | €24,741 | -€30,066 | -54.9% |
| Deferred charges and accrued income | 490/1 | €2,253 | €831 | -€1,422 | -63.1% |
| Total equity and liabilities | 10/49 | €153,124 | €144,832 | -€8,291 | -5.4% |
| Equity | 10/15 | €112,349 | €129,517 | +€17,168 | +15.3% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €110,849 | €128,017 | +€17,168 | +15.5% |
| Amounts payable | 17/49 | €40,775 | €15,315 | -€25,460 | -62.4% |
| Amounts payable within one year | 42/48 | €40,775 | €15,315 | -€25,460 | -62.4% |
| Trade debts | 44 | €14,192 | €909 | -€13,283 | -93.6% |
| Suppliers | 440/4 | €14,192 | €909 | -€13,283 | -93.6% |
| Taxes, remuneration and social security | 45 | €26,583 | €14,406 | -€12,176 | -45.8% |
| Taxes | 450/3 | €24,968 | €8,741 | -€16,226 | -65.0% |
| Remuneration and social security | 454/9 | €1,615 | €5,665 | +€4,050 | +251% |
| Remuneration, social security and pensions | 62 | €29,175 | €26,449 | -€2,726 | -9.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,579 | €11,984 | +€4,404 | +58.1% |
| Other operating charges | 640/8 | €1,489 | €2,015 | +€525 | +35.3% |
| Gross operating margin | 9900 | €128,144 | €63,422 | -€64,723 | -50.5% |
| Operating profit (loss) | 9901 | €89,901 | €22,974 | -€66,927 | -74.4% |
| Financial income | 75/76B | €0 | €2 | +€2 | +500% |
| Recurring financial income | 75 | €0 | €2 | +€2 | +500% |
| Financial charges | 65/66B | €230 | €382 | +€152 | +66.2% |
| Recurring financial charges | 65 | €230 | €382 | +€152 | +66.2% |
| Profit (loss) for the period before taxes | 9903 | €89,672 | €22,594 | -€67,078 | -74.8% |
| Income taxes | 67/77 | €18,542 | €5,426 | -€13,116 | -70.7% |
| Profit (loss) for the period | 9904 | €71,130 | €17,168 | -€53,962 | -75.9% |
| Profit (loss) for the period to be appropriated | 9905 | €71,130 | €17,168 | -€53,962 | -75.9% |
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 16 October 2026 via checked.be.