GLOBAL MAD: 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.
GLOBAL MAD
Largest movements
- Receivables within one year +€8,482
up €8,482 (+55.4%), from €15,321 to €23,803
of which Trade receivables: +€4,891
- Cash +€6,397
up €6,397 (+92.3%), from €6,935 to €13,332
mainly Net result for the year (+€7,910) and Tax, wage and social debts (+€5,172)
- Tangible fixed assets -€2,267
down €2,267 (-45.5%), from €4,978 to €2,711
of which Furniture and vehicles: -€1,667
- Deferred charges and accrued income +€1,147
new in 2025: €1,147
- Profit (loss) carried forward +€7,910
up €7,910 (+35.5%), from €22,294 to €30,203
- Tax, wage and social debts +€5,172
new in 2025: €5,172
- Other debts +€747
up €747 (+170%), from €440 to €1,187
- Turnover +€71,344
up €71,344 (+90.3%), from €78,984 to €150,328
- Staff costs +€68,928
new in 2025: €68,928
- Gross operating margin +€64,235
up €64,235 (+256%), from €25,066 to €89,301
- Purchases and services +€7,109
up €7,109 (+13.2%), from €53,918 to €61,027
- Taxes +€6,249
up €6,249 (+3,983%), from €157 to €6,406
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 | €27,234 | €40,993 | +€13,760 | +50.5% |
| Fixed assets | 21/28 | €4,978 | €2,711 | -€2,267 | -45.5% |
| Tangible fixed assets | 22/27 | €4,978 | €2,711 | -€2,267 | -45.5% |
| Plant, machinery and equipment | 23 | €950 | €350 | -€600 | -63.2% |
| Furniture and vehicles | 24 | €4,028 | €2,361 | -€1,667 | -41.4% |
| Current assets | 29/58 | €22,256 | €38,282 | +€16,026 | +72.0% |
| Amounts receivable within one year | 40/41 | €15,321 | €23,803 | +€8,482 | +55.4% |
| Trade receivables | 40 | €14,329 | €19,220 | +€4,891 | +34.1% |
| Other amounts receivable | 41 | €992 | €4,583 | +€3,591 | +362% |
| Cash at bank and in hand | 54/58 | €6,935 | €13,332 | +€6,397 | +92.3% |
| Deferred charges and accrued income | 490/1 | - | €1,147 | +€1,147 | |
| Total equity and liabilities | 10/49 | €27,234 | €40,993 | +€13,760 | +50.5% |
| Equity | 10/15 | €23,794 | €31,703 | +€7,910 | +33.2% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Capital | 10 | €1,500 | €1,500 | = | 0.0% |
| Issued capital | 100 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €22,294 | €30,203 | +€7,910 | +35.5% |
| Amounts payable | 17/49 | €3,440 | €9,290 | +€5,850 | +170% |
| Amounts payable within one year | 42/48 | €3,440 | €9,290 | +€5,850 | +170% |
| Trade debts | 44 | €3,000 | €2,930 | -€70 | -2.3% |
| Suppliers | 440/4 | €3,000 | €2,930 | -€70 | -2.3% |
| Taxes, remuneration and social security | 45 | - | €5,172 | +€5,172 | |
| Taxes | 450/3 | - | €5,172 | +€5,172 | |
| Other amounts payable | 47/48 | €440 | €1,187 | +€747 | +170% |
| Turnover | 70 | €78,984 | €150,328 | +€71,344 | +90.3% |
| Goods, raw materials, services and sundry goods | 60/61 | €53,918 | €61,027 | +€7,109 | +13.2% |
| Remuneration, social security and pensions | 62 | - | €68,928 | +€68,928 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,572 | €2,267 | +€694 | +44.2% |
| Other operating charges | 640/8 | - | €3,602 | +€3,602 | |
| Gross operating margin | 9900 | €25,066 | €89,301 | +€64,235 | +256% |
| Operating profit (loss) | 9901 | €23,494 | €14,504 | -€8,990 | -38.3% |
| Financial income | 75/76B | - | €28 | +€28 | |
| Recurring financial income | 75 | - | €28 | +€28 | |
| Financial charges | 65/66B | €287 | €216 | -€71 | -24.7% |
| Recurring financial charges | 65 | €287 | €216 | -€71 | -24.7% |
| Profit (loss) for the period before taxes | 9903 | €23,207 | €14,316 | -€8,891 | -38.3% |
| Income taxes | 67/77 | €157 | €6,406 | +€6,249 | +3,983% |
| Profit (loss) for the period | 9904 | €23,050 | €7,910 | -€15,140 | -65.7% |
| Profit (loss) for the period to be appropriated | 9905 | €23,050 | €7,910 | -€15,140 | -65.7% |
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 19 October 2026 via checked.be.