The Masterplan: 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.
The Masterplan
Largest movements
- Tangible fixed assets +€27,567
up €27,567 (+503.4%), from €5,476 to €33,044
of which Furniture and vehicles: +€26,463
- Receivables within one year -€22,398
down €22,398 (-71.2%), from €31,473 to €9,075
of which Trade receivables: -€19,099
- Cash -€9,983
down €9,983 (-9.2%), from €108,923 to €98,941
mainly Contributions, distributions and other (-€56,095) and Investment in fixed assets (net) (-€31,324)
- Other debts -€7,434
down €7,434 (-11.7%), from €63,614 to €56,180
- Tax, wage and social debts +€2,417
up €2,417 (+35.6%), from €6,798 to €9,214
of which Taxes: +€2,417
- Gross operating margin -€12,043
down €12,043 (-13.6%), from €88,746 to €76,703
- Depreciation -€2,504
down €2,504 (-40.0%), from €6,260 to €3,756
- Taxes -€2,054
down €2,054 (-11.6%), from €17,765 to €15,710
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 | €146,767 | €142,212 | -€4,555 | -3.1% |
| Fixed assets | 21/28 | €5,476 | €33,044 | +€27,567 | +503.4% |
| Tangible fixed assets | 22/27 | €5,476 | €33,044 | +€27,567 | +503.4% |
| Plant, machinery and equipment | 23 | - | €1,662 | +€1,662 | |
| Furniture and vehicles | 24 | €776 | €27,240 | +€26,463 | +3408.9% |
| Other tangible fixed assets | 26 | €4,700 | €4,142 | -€558 | -11.9% |
| Current assets | 29/58 | €141,290 | €109,168 | -€32,122 | -22.7% |
| Amounts receivable within one year | 40/41 | €31,473 | €9,075 | -€22,398 | -71.2% |
| Trade receivables | 40 | €28,174 | €9,075 | -€19,099 | -67.8% |
| Other amounts receivable | 41 | €3,299 | - | -€3,299 | |
| Cash at bank and in hand | 54/58 | €108,923 | €98,941 | -€9,983 | -9.2% |
| Deferred charges and accrued income | 490/1 | €894 | €1,152 | +€258 | +28.9% |
| Total equity and liabilities | 10/49 | €146,767 | €142,212 | -€4,555 | -3.1% |
| Equity | 10/15 | €74,934 | €74,934 | = | 0.0% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €73,934 | €73,934 | = | 0.0% |
| Distributable reserves | 133 | €73,934 | €73,934 | = | 0.0% |
| Amounts payable | 17/49 | €71,833 | €67,278 | -€4,555 | -6.3% |
| Amounts payable within one year | 42/48 | €70,633 | €65,469 | -€5,164 | -7.3% |
| Trade debts | 44 | €221 | €74 | -€146 | -66.3% |
| Suppliers | 440/4 | €221 | €74 | -€146 | -66.3% |
| Taxes, remuneration and social security | 45 | €6,798 | €9,214 | +€2,417 | +35.6% |
| Taxes | 450/3 | €4,798 | €7,214 | +€2,417 | +50.4% |
| Remuneration and social security | 454/9 | €2,000 | €2,000 | = | 0.0% |
| Other amounts payable | 47/48 | €63,614 | €56,180 | -€7,434 | -11.7% |
| Accrued charges and deferred income | 492/3 | €1,200 | €1,809 | +€609 | +50.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,260 | €3,756 | -€2,504 | -40.0% |
| Other operating charges | 640/8 | €1,093 | €1,062 | -€31 | -2.8% |
| Gross operating margin | 9900 | €88,746 | €76,703 | -€12,043 | -13.6% |
| Operating profit (loss) | 9901 | €81,392 | €71,884 | -€9,508 | -11.7% |
| Financial income | 75/76B | €50 | - | -€50 | |
| Recurring financial income | 75 | €50 | - | -€50 | |
| Financial charges | 65/66B | €64 | €79 | +€15 | +23.1% |
| Recurring financial charges | 65 | €64 | €79 | +€15 | +23.1% |
| Profit (loss) for the period before taxes | 9903 | €81,379 | €71,806 | -€9,573 | -11.8% |
| Income taxes | 67/77 | €17,765 | €15,710 | -€2,054 | -11.6% |
| Profit (loss) for the period | 9904 | €63,614 | €56,095 | -€7,519 | -11.8% |
| Profit (loss) for the period to be appropriated | 9905 | €63,614 | €56,095 | -€7,519 | -11.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.