I-MADRAS: 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.
I-MADRAS
Largest movements
- Tangible fixed assets -€43,220
down €43,220 (-3.4%), from €1.3m to €1.2m
- Debts after one year -€82,177
down €82,177 (-10.7%), from €768,642 to €686,466
- Other debts +€47,786
up €47,786 (+18.8%), from €254,012 to €301,798
- Gross operating margin +€8,782
up €8,782 (+8.6%), from €101,563 to €110,345
- Other operating charges +€6,938
up €6,938 (+1236.7%), from €561 to €7,499
- Financial charges -€5,626
down €5,626 (-20.9%), from €26,882 to €21,256
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 | €1,340,814 | €1,307,229 | -€33,585 | -2.5% |
| Fixed assets | 21/28 | €1,266,063 | €1,222,843 | -€43,220 | -3.4% |
| Tangible fixed assets | 22/27 | €1,264,940 | €1,221,720 | -€43,220 | -3.4% |
| Land and buildings | 22 | €1,264,940 | €1,221,720 | -€43,220 | -3.4% |
| Financial fixed assets | 28 | €1,123 | €1,123 | = | 0.0% |
| Current assets | 29/58 | €74,751 | €84,385 | +€9,635 | +12.9% |
| Amounts receivable within one year | 40/41 | €16,816 | €20,547 | +€3,731 | +22.2% |
| Trade receivables | 40 | €2,494 | - | -€2,494 | |
| Other amounts receivable | 41 | €14,323 | €20,547 | +€6,225 | +43.5% |
| Cash at bank and in hand | 54/58 | €57,934 | €63,838 | +€5,904 | +10.2% |
| Total equity and liabilities | 10/49 | €1,340,814 | €1,307,229 | -€33,585 | -2.5% |
| Equity | 10/15 | €235,036 | €235,047 | +€11 | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €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 | €214,576 | €214,587 | +€11 | 0.0% |
| Amounts payable | 17/49 | €1,105,778 | €1,072,182 | -€33,596 | -3.0% |
| Amounts payable after more than one year | 17 | €768,642 | €686,466 | -€82,177 | -10.7% |
| Financial debts | 170/4 | €768,642 | €686,466 | -€82,177 | -10.7% |
| Amounts payable within one year | 42/48 | €337,135 | €385,716 | +€48,581 | +14.4% |
| Current portion of amounts payable after more than one year | 42 | €80,999 | €82,177 | +€1,178 | +1.5% |
| Trade debts | 44 | €2,125 | €1,734 | -€391 | -18.4% |
| Suppliers | 440/4 | €2,125 | €1,734 | -€391 | -18.4% |
| Taxes, remuneration and social security | 45 | - | €7 | +€7 | |
| Taxes | 450/3 | - | €7 | +€7 | |
| Other amounts payable | 47/48 | €254,012 | €301,798 | +€47,786 | +18.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,120 | €43,220 | -€900 | -2.0% |
| Other operating charges | 640/8 | €561 | €7,499 | +€6,938 | +1236.7% |
| Gross operating margin | 9900 | €101,563 | €110,345 | +€8,782 | +8.6% |
| Operating profit (loss) | 9901 | €56,882 | €59,627 | +€2,745 | +4.8% |
| Financial charges | 65/66B | €26,882 | €21,256 | -€5,626 | -20.9% |
| Recurring financial charges | 65 | €26,882 | €21,256 | -€5,626 | -20.9% |
| Profit (loss) for the period before taxes | 9903 | €30,000 | €38,371 | +€8,371 | +27.9% |
| Income taxes | 67/77 | €115 | €5 | -€110 | -95.7% |
| Profit (loss) for the period | 9904 | €29,885 | €38,366 | +€8,481 | +28.4% |
| Profit (loss) for the period to be appropriated | 9905 | €29,885 | €38,366 | +€8,481 | +28.4% |
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 30 September 2026 via checked.be.