IMMO MADEBLAS: 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.
IMMO MADEBLAS
Largest movements
- Stocks and contracts +€231,704
up €231,704 (+97.1%), from €238,653 to €470,357
- Receivables within one year -€33,351
down €33,351 (-58.6%), from €56,901 to €23,550
of which Other amounts receivable: -€31,876
- Cash +€29,777
up €29,777 (+200.0%), from €14,888 to €44,665
mainly Debts after one year (+€189,200) and Trade debts (+€104,382)
- Tangible fixed assets -€11,523
down €11,523 (-43.9%), from €26,226 to €14,704
of which Plant, machinery and equipment: -€6,667
- Debts after one year +€189,200
up €189,200 (+378.4%), from €50,000 to €239,200
- Trade debts +€104,382
up €104,382 (+457.8%), from €22,800 to €127,182
- Profit (loss) carried forward -€69,263
down €69,263 (-85.1%), from €81,418 to €12,154
- Tax, wage and social debts -€17,093
down €17,093 (-97.5%), from €17,534 to €441
- Other debts +€8,781
up €8,781 (+5.4%), from €161,189 to €169,970
- Gross operating margin -€93,428
down €93,428, from €84,164 to -€9,264
- Other operating charges +€35,146
up €35,146 (+36304.5%), from €97 to €35,243
- Depreciation +€4,353
up €4,353 (+60.7%), from €7,169 to €11,523
- Financial charges -€4,102
down €4,102 (-23.7%), from €17,336 to €13,233
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 | €337,441 | €553,447 | +€216,006 | +64.0% |
| Fixed assets | 21/28 | €26,226 | €14,704 | -€11,523 | -43.9% |
| Tangible fixed assets | 22/27 | €26,226 | €14,704 | -€11,523 | -43.9% |
| Plant, machinery and equipment | 23 | €17,687 | €11,020 | -€6,667 | -37.7% |
| Furniture and vehicles | 24 | €8,539 | €3,684 | -€4,856 | -56.9% |
| Current assets | 29/58 | €311,215 | €538,743 | +€227,528 | +73.1% |
| Stocks and contracts in progress | 3 | €238,653 | €470,357 | +€231,704 | +97.1% |
| Stocks | 30/36 | €238,653 | €470,357 | +€231,704 | +97.1% |
| Amounts receivable within one year | 40/41 | €56,901 | €23,550 | -€33,351 | -58.6% |
| Trade receivables | 40 | €1,475 | - | -€1,475 | |
| Other amounts receivable | 41 | €55,426 | €23,550 | -€31,876 | -57.5% |
| Cash at bank and in hand | 54/58 | €14,888 | €44,665 | +€29,777 | +200.0% |
| Deferred charges and accrued income | 490/1 | €773 | €171 | -€602 | -77.9% |
| Total equity and liabilities | 10/49 | €337,441 | €553,447 | +€216,006 | +64.0% |
| Equity | 10/15 | €85,918 | €16,654 | -€69,263 | -80.6% |
| Contributions | 10/11 | €4,500 | €4,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €81,418 | €12,154 | -€69,263 | -85.1% |
| Amounts payable | 17/49 | €251,523 | €536,792 | +€285,269 | +113.4% |
| Amounts payable after more than one year | 17 | €50,000 | €239,200 | +€189,200 | +378.4% |
| Financial debts | 170/4 | €50,000 | €239,200 | +€189,200 | +378.4% |
| Amounts payable within one year | 42/48 | €201,523 | €297,592 | +€96,069 | +47.7% |
| Trade debts | 44 | €22,800 | €127,182 | +€104,382 | +457.8% |
| Suppliers | 440/4 | €22,800 | €127,182 | +€104,382 | +457.8% |
| Taxes, remuneration and social security | 45 | €17,534 | €441 | -€17,093 | -97.5% |
| Taxes | 450/3 | €17,534 | €441 | -€17,093 | -97.5% |
| Other amounts payable | 47/48 | €161,189 | €169,970 | +€8,781 | +5.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,169 | €11,523 | +€4,353 | +60.7% |
| Other operating charges | 640/8 | €97 | €35,243 | +€35,146 | +36304.5% |
| Gross operating margin | 9900 | €84,164 | -€9,264 | -€93,428 | |
| Operating profit (loss) | 9901 | €76,898 | -€56,030 | -€132,928 | |
| Financial income | 75/76B | €477 | - | -€477 | |
| Recurring financial income | 75 | €477 | - | -€477 | |
| Financial charges | 65/66B | €17,336 | €13,233 | -€4,102 | -23.7% |
| Recurring financial charges | 65 | €17,336 | €13,233 | -€4,102 | -23.7% |
| Profit (loss) for the period before taxes | 9903 | €60,039 | -€69,263 | -€129,302 | |
| Income taxes | 67/77 | €419 | - | -€419 | |
| Profit (loss) for the period | 9904 | €59,619 | -€69,263 | -€128,883 | |
| Profit (loss) for the period to be appropriated | 9905 | €59,619 | -€69,263 | -€128,883 |
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 4 October 2026 via checked.be.