B-MADE: 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.
B-MADE
Largest movements
- Cash -€45,376
down €45,376 (-80.2%), from €56,605 to €11,230
mainly Net result for the year (-€30,464) and Current portion of long-term debt (-€7,619)
- Receivables within one year +€1,090
up €1,090 (+16.4%), from €6,647 to €7,737
of which Other amounts receivable: +€4,523
- Tangible fixed assets -€1,023
down €1,023 (-9.2%), from €11,091 to €10,068
of which Furniture and vehicles: -€1,009
- Reserves -€25,775
down €25,775 (-58.3%), from €44,230 to €18,455
- Current portion of long-term debt -€7,619
down €7,619 (-58.3%), from €13,061 to €5,442
- Debts after one year -€5,442
no longer reported in 2025 (was €5,442)
- Profit (loss) carried forward -€4,689
new in 2025: -€4,689
- Other debts -€1,446
no longer reported in 2025 (was €1,446)
- Gross operating margin -€26,998
down €26,998 (-3,407%), from -€792 to -€27,791
- Other operating charges -€616
down €616 (-47.7%), from €1,290 to €674
- Depreciation +€546
up €546 (+51.2%), from €1,066 to €1,612
- Taxes -€353
no longer reported in 2025 (was €353)
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 | €84,574 | €39,057 | -€45,517 | -53.8% |
| Fixed assets | 21/28 | €11,091 | €10,068 | -€1,023 | -9.2% |
| Tangible fixed assets | 22/27 | €11,091 | €10,068 | -€1,023 | -9.2% |
| Land and buildings | 22 | €1,147 | €1,026 | -€121 | -10.5% |
| Plant, machinery and equipment | 23 | €1,367 | €1,474 | +€107 | +7.8% |
| Furniture and vehicles | 24 | €8,577 | €7,567 | -€1,009 | -11.8% |
| Current assets | 29/58 | €73,483 | €28,989 | -€44,494 | -60.5% |
| Amounts receivable within one year | 40/41 | €6,647 | €7,737 | +€1,090 | +16.4% |
| Trade receivables | 40 | €5,000 | €1,567 | -€3,433 | -68.7% |
| Other amounts receivable | 41 | €1,647 | €6,170 | +€4,523 | +275% |
| Current investments | 50/53 | €10,000 | €10,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €56,605 | €11,230 | -€45,376 | -80.2% |
| Deferred charges and accrued income | 490/1 | €231 | €23 | -€208 | -90.1% |
| Total equity and liabilities | 10/49 | €84,574 | €39,057 | -€45,517 | -53.8% |
| Equity | 10/15 | €62,830 | €32,366 | -€30,464 | -48.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €44,230 | €18,455 | -€25,775 | -58.3% |
| Distributable reserves | 133 | €44,230 | €18,455 | -€25,775 | -58.3% |
| Profit (loss) carried forward | 14 | - | -€4,689 | -€4,689 | |
| Amounts payable | 17/49 | €21,744 | €6,691 | -€15,053 | -69.2% |
| Amounts payable after more than one year | 17 | €5,442 | - | -€5,442 | |
| Financial debts | 170/4 | €5,442 | - | -€5,442 | |
| Amounts payable within one year | 42/48 | €16,236 | €6,624 | -€9,612 | -59.2% |
| Current portion of amounts payable after more than one year | 42 | €13,061 | €5,442 | -€7,619 | -58.3% |
| Trade debts | 44 | €1,371 | €1,182 | -€189 | -13.8% |
| Suppliers | 440/4 | €1,371 | €1,182 | -€189 | -13.8% |
| Taxes, remuneration and social security | 45 | €358 | - | -€358 | |
| Taxes | 450/3 | €358 | - | -€358 | |
| Other amounts payable | 47/48 | €1,446 | - | -€1,446 | |
| Accrued charges and deferred income | 492/3 | €66 | €67 | +€1 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,066 | €1,612 | +€546 | +51.2% |
| Other operating charges | 640/8 | €1,290 | €674 | -€616 | -47.7% |
| Gross operating margin | 9900 | -€792 | -€27,791 | -€26,998 | -3,407% |
| Operating profit (loss) | 9901 | -€3,149 | -€30,077 | -€26,928 | -855% |
| Financial income | 75/76B | - | €112 | +€112 | |
| Recurring financial income | 75 | - | €112 | +€112 | |
| Financial charges | 65/66B | €638 | €498 | -€140 | -21.9% |
| Recurring financial charges | 65 | €638 | €498 | -€140 | -21.9% |
| Profit (loss) for the period before taxes | 9903 | -€3,787 | -€30,464 | -€26,677 | -704% |
| Income taxes | 67/77 | €353 | - | -€353 | |
| Profit (loss) for the period | 9904 | -€4,140 | -€30,464 | -€26,324 | -636% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,140 | -€30,464 | -€26,324 | -636% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.