TECHMASTER: 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.
TECHMASTER
Largest movements
- Cash +€36,946
up €36,946 (+238.1%), from €15,520 to €52,466
mainly Receivables within one year (+€24,808) and Net result for the year (+€19,507)
- Receivables within one year -€24,808
down €24,808 (-67.7%), from €36,661 to €11,853
of which Trade receivables: -€21,929
- Deferred charges and accrued income -€7,277
no longer reported in 2025 (was €7,277)
- Tangible fixed assets +€2,138
up €2,138 (+4.2%), from €51,473 to €53,612
of which Land and buildings: +€6,032
- Reserves +€19,507
up €19,507 (+26.4%), from €73,819 to €93,326
- Trade debts -€10,094
down €10,094 (-90.8%), from €11,116 to €1,022
- Current portion of long-term debt -€5,677
no longer reported in 2025 (was €5,677)
- Tax, wage and social debts +€3,266
up €3,266 (+105.1%), from €3,108 to €6,374
- Gross operating margin +€6,978
up €6,978 (+17.8%), from €39,258 to €46,236
- Taxes +€6,527
up €6,527 (+364.1%), from €1,793 to €8,320
- Depreciation +€2,878
up €2,878 (+23.9%), from €12,067 to €14,945
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 | €113,845 | €120,844 | +€6,999 | +6.1% |
| Fixed assets | 21/28 | €51,473 | €53,612 | +€2,138 | +4.2% |
| Tangible fixed assets | 22/27 | €51,473 | €53,612 | +€2,138 | +4.2% |
| Land and buildings | 22 | €10,356 | €16,388 | +€6,032 | +58.3% |
| Plant, machinery and equipment | 23 | €30,082 | €29,903 | -€180 | -0.6% |
| Furniture and vehicles | 24 | €11,035 | €7,321 | -€3,714 | -33.7% |
| Current assets | 29/58 | €62,372 | €67,233 | +€4,861 | +7.8% |
| Stocks and contracts in progress | 3 | €2,914 | €2,914 | = | 0.0% |
| Stocks | 30/36 | €2,914 | €2,914 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €36,661 | €11,853 | -€24,808 | -67.7% |
| Trade receivables | 40 | €33,782 | €11,853 | -€21,929 | -64.9% |
| Other amounts receivable | 41 | €2,879 | - | -€2,879 | |
| Cash at bank and in hand | 54/58 | €15,520 | €52,466 | +€36,946 | +238.1% |
| Deferred charges and accrued income | 490/1 | €7,277 | - | -€7,277 | |
| Total equity and liabilities | 10/49 | €113,845 | €120,844 | +€6,999 | +6.1% |
| Equity | 10/15 | €86,219 | €105,726 | +€19,507 | +22.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €73,819 | €93,326 | +€19,507 | +26.4% |
| Distributable reserves | 133 | €73,819 | €93,326 | +€19,507 | +26.4% |
| Amounts payable | 17/49 | €27,625 | €15,118 | -€12,508 | -45.3% |
| Amounts payable within one year | 42/48 | €27,625 | €15,118 | -€12,508 | -45.3% |
| Current portion of amounts payable after more than one year | 42 | €5,677 | - | -€5,677 | |
| Financial debts | 43 | €7,462 | €7,358 | -€104 | -1.4% |
| Credit institutions | 430/8 | €7,462 | €7,358 | -€104 | -1.4% |
| Trade debts | 44 | €11,116 | €1,022 | -€10,094 | -90.8% |
| Suppliers | 440/4 | €11,116 | €1,022 | -€10,094 | -90.8% |
| Taxes, remuneration and social security | 45 | €3,108 | €6,374 | +€3,266 | +105.1% |
| Taxes | 450/3 | €3,108 | €6,374 | +€3,266 | +105.1% |
| Other amounts payable | 47/48 | €263 | €365 | +€102 | +38.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,067 | €14,945 | +€2,878 | +23.9% |
| Other operating charges | 640/8 | €1,352 | €1,620 | +€267 | +19.8% |
| Gross operating margin | 9900 | €39,258 | €46,236 | +€6,978 | +17.8% |
| Operating profit (loss) | 9901 | €25,839 | €29,672 | +€3,833 | +14.8% |
| Financial income | 75/76B | €155 | - | -€155 | |
| Recurring financial income | 75 | €155 | - | -€155 | |
| Financial charges | 65/66B | €2,043 | €1,845 | -€198 | -9.7% |
| Recurring financial charges | 65 | €2,043 | €1,845 | -€198 | -9.7% |
| Profit (loss) for the period before taxes | 9903 | €23,951 | €27,827 | +€3,875 | +16.2% |
| Income taxes | 67/77 | €1,793 | €8,320 | +€6,527 | +364.1% |
| Profit (loss) for the period | 9904 | €22,159 | €19,507 | -€2,652 | -12.0% |
| Profit (loss) for the period to be appropriated | 9905 | €22,159 | €19,507 | -€2,652 | -12.0% |
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 7 October 2026 via checked.be.