Road Masters: 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.
Road Masters
Largest movements
- Deferred charges and accrued income +€10,836
up €10,836 (+534.3%), from €2,028 to €12,864
- Financial fixed assets +€10,000
up €10,000 (+333.6%), from €2,998 to €12,998
- Receivables within one year -€3,876
down €3,876 (-29.0%), from €13,364 to €9,488
- Tangible fixed assets -€3,835
down €3,835 (-34.7%), from €11,064 to €7,229
of which Leasing and similar rights: -€3,450
- Cash +€821
up €821 (+29.1%), from €2,818 to €3,639
mainly Other debts (+€6,906) and Trade debts (+€6,575)
- Profit (loss) carried forward -€7,807
down €7,807 (-6.5%), from -€120,778 to -€128,585
- Other debts +€6,906
up €6,906 (+95.5%), from €7,233 to €14,139
- Trade debts +€6,575
up €6,575 (+7.5%), from €88,094 to €94,669
- Tax, wage and social debts +€5,919
up €5,919 (+26.5%), from €22,319 to €28,238
of which Taxes: +€8,723
- Short-term financial debts +€5,412
new in 2025: €5,412
- Gross operating margin -€28,261
down €28,261 (-62.5%), from €45,231 to €16,970
- Depreciation -€9,076
down €9,076 (-58.9%), from €15,411 to €6,335
- Other operating charges -€6,532
down €6,532 (-54.5%), from €11,981 to €5,449
- Financial charges +€2,897
up €2,897 (+29.0%), from €9,973 to €12,870
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 | €32,272 | €46,218 | +€13,946 | +43.2% |
| Fixed assets | 21/28 | €14,062 | €20,227 | +€6,165 | +43.8% |
| Tangible fixed assets | 22/27 | €11,064 | €7,229 | -€3,835 | -34.7% |
| Plant, machinery and equipment | 23 | €175 | - | -€175 | |
| Furniture and vehicles | 24 | €7,439 | €4,856 | -€2,583 | -34.7% |
| Leasing and similar rights | 25 | €3,450 | - | -€3,450 | |
| Other tangible fixed assets | 26 | - | €2,373 | +€2,373 | |
| Financial fixed assets | 28 | €2,998 | €12,998 | +€10,000 | +333.6% |
| Current assets | 29/58 | €18,210 | €25,991 | +€7,781 | +42.7% |
| Amounts receivable within one year | 40/41 | €13,364 | €9,488 | -€3,876 | -29.0% |
| Trade receivables | 40 | €13,364 | €9,488 | -€3,876 | -29.0% |
| Cash at bank and in hand | 54/58 | €2,818 | €3,639 | +€821 | +29.1% |
| Deferred charges and accrued income | 490/1 | €2,028 | €12,864 | +€10,836 | +534.3% |
| Total equity and liabilities | 10/49 | €32,272 | €46,218 | +€13,946 | +43.2% |
| Equity | 10/15 | -€100,318 | -€108,125 | -€7,807 | -7.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 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 | -€120,778 | -€128,585 | -€7,807 | -6.5% |
| Amounts payable | 17/49 | €132,590 | €154,343 | +€21,753 | +16.4% |
| Amounts payable after more than one year | 17 | €10,804 | €6,743 | -€4,061 | -37.6% |
| Financial debts | 170/4 | €10,804 | €6,743 | -€4,061 | -37.6% |
| Amounts payable within one year | 42/48 | €121,390 | €147,200 | +€25,810 | +21.3% |
| Current portion of amounts payable after more than one year | 42 | €3,744 | €4,742 | +€998 | +26.7% |
| Financial debts | 43 | - | €5,412 | +€5,412 | |
| Credit institutions | 430/8 | - | €5,412 | +€5,412 | |
| Trade debts | 44 | €88,094 | €94,669 | +€6,575 | +7.5% |
| Suppliers | 440/4 | €88,094 | €94,669 | +€6,575 | +7.5% |
| Taxes, remuneration and social security | 45 | €22,319 | €28,238 | +€5,919 | +26.5% |
| Taxes | 450/3 | €2,777 | €11,500 | +€8,723 | +314.1% |
| Remuneration and social security | 454/9 | €19,542 | €16,738 | -€2,804 | -14.3% |
| Other amounts payable | 47/48 | €7,233 | €14,139 | +€6,906 | +95.5% |
| Accrued charges and deferred income | 492/3 | €396 | €400 | +€4 | +1.0% |
| Non-recurring operating income | 76A | €15,376 | €14,000 | -€1,376 | -8.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,411 | €6,335 | -€9,076 | -58.9% |
| Other operating charges | 640/8 | €11,981 | €5,449 | -€6,532 | -54.5% |
| Gross operating margin | 9900 | €45,231 | €16,970 | -€28,261 | -62.5% |
| Operating profit (loss) | 9901 | €17,839 | €5,186 | -€12,653 | -70.9% |
| Financial income | 75/76B | €10 | €18 | +€8 | +80.0% |
| Recurring financial income | 75 | €10 | €18 | +€8 | +80.0% |
| Financial charges | 65/66B | €9,973 | €12,870 | +€2,897 | +29.0% |
| Recurring financial charges | 65 | €9,973 | €12,870 | +€2,897 | +29.0% |
| Profit (loss) for the period before taxes | 9903 | €7,876 | -€7,666 | -€15,542 | |
| Income taxes | 67/77 | €16 | €141 | +€125 | +781.3% |
| Profit (loss) for the period | 9904 | €7,860 | -€7,807 | -€15,667 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,860 | -€7,807 | -€15,667 |
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 9 October 2026 via checked.be.