Le Madec: 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.
Le Madec
Largest movements
- Stocks and contracts +€654,434
up €654,434 (+2146.6%), from €30,488 to €684,921
- Receivables within one year +€41,067
up €41,067 (+23.4%), from €175,489 to €216,556
of which Trade receivables: +€39,377
- Tangible fixed assets -€17,721
down €17,721 (-22.2%), from €79,647 to €61,926
of which Furniture and vehicles: -€16,651
- Other debts +€808,788
up €808,788 (+109.9%), from €735,981 to €1.5m
- Profit (loss) carried forward -€70,251
down €70,251 (-10.6%), from -€664,090 to -€734,341
- Trade debts -€57,020
down €57,020 (-19.6%), from €290,499 to €233,478
- Gross operating margin -€35,274
down €35,274 (-37.1%), from €95,046 to €59,771
- Staff costs +€7,939
up €7,939 (+8.5%), from €93,531 to €101,470
- Other operating charges -€6,796
down €6,796 (-61.5%), from €11,049 to €4,253
- Depreciation +€6,385
up €6,385 (+51.1%), from €12,506 to €18,890
- Financial charges -€4,368
down €4,368 (-49.3%), from €8,860 to €4,492
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €417,124 | €1,089,301 | +€672,177 | +161.1% |
| Fixed assets | 21/28 | €82,031 | €64,310 | -€17,721 | -21.6% |
| Tangible fixed assets | 22/27 | €79,647 | €61,926 | -€17,721 | -22.2% |
| Land and buildings | 22 | €1,792 | €1,317 | -€475 | -26.5% |
| Furniture and vehicles | 24 | €75,477 | €58,825 | -€16,651 | -22.1% |
| Other tangible fixed assets | 26 | €2,379 | €1,784 | -€595 | -25.0% |
| Financial fixed assets | 28 | €2,384 | €2,384 | = | 0.0% |
| Current assets | 29/58 | €335,093 | €1,024,991 | +€689,898 | +205.9% |
| Stocks and contracts in progress | 3 | €30,488 | €684,921 | +€654,434 | +2146.6% |
| Stocks | 30/36 | €30,488 | €684,921 | +€654,434 | +2146.6% |
| Amounts receivable within one year | 40/41 | €175,489 | €216,556 | +€41,067 | +23.4% |
| Trade receivables | 40 | €173,870 | €213,247 | +€39,377 | +22.6% |
| Other amounts receivable | 41 | €1,618 | €3,309 | +€1,691 | +104.5% |
| Cash at bank and in hand | 54/58 | €129,117 | €120,320 | -€8,797 | -6.8% |
| Deferred charges and accrued income | 490/1 | - | €3,194 | +€3,194 | |
| Total equity and liabilities | 10/49 | €417,124 | €1,089,301 | +€672,177 | +161.1% |
| Equity | 10/15 | -€644,340 | -€714,591 | -€70,251 | -10.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,150 | €1,150 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,150 | €1,150 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,150 | €1,150 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€664,090 | -€734,341 | -€70,251 | -10.6% |
| Amounts payable | 17/49 | €1,061,464 | €1,803,892 | +€742,428 | +69.9% |
| Amounts payable within one year | 42/48 | €1,061,464 | €1,803,892 | +€742,428 | +69.9% |
| Trade debts | 44 | €290,499 | €233,478 | -€57,020 | -19.6% |
| Suppliers | 440/4 | €290,499 | €233,478 | -€57,020 | -19.6% |
| Taxes, remuneration and social security | 45 | €34,984 | €25,645 | -€9,339 | -26.7% |
| Taxes | 450/3 | €15,516 | €5,050 | -€10,466 | -67.5% |
| Remuneration and social security | 454/9 | €19,469 | €20,595 | +€1,127 | +5.8% |
| Other amounts payable | 47/48 | €735,981 | €1,544,768 | +€808,788 | +109.9% |
| Remuneration, social security and pensions | 62 | €93,531 | €101,470 | +€7,939 | +8.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,506 | €18,890 | +€6,385 | +51.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€852 | €0 | +€852 | |
| Other operating charges | 640/8 | €11,049 | €4,253 | -€6,796 | -61.5% |
| Gross operating margin | 9900 | €95,046 | €59,771 | -€35,274 | -37.1% |
| Operating profit (loss) | 9901 | -€21,188 | -€64,842 | -€43,654 | -206.0% |
| Financial income | 75/76B | €118 | €367 | +€249 | +212.0% |
| Recurring financial income | 75 | €118 | €367 | +€249 | +212.0% |
| Financial charges | 65/66B | €8,860 | €4,492 | -€4,368 | -49.3% |
| Recurring financial charges | 65 | €8,860 | €4,492 | -€4,368 | -49.3% |
| Profit (loss) for the period before taxes | 9903 | -€29,930 | -€68,967 | -€39,036 | -130.4% |
| Income taxes | 67/77 | €511 | €1,284 | +€773 | +151.5% |
| Profit (loss) for the period | 9904 | -€30,441 | -€70,251 | -€39,810 | -130.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€30,441 | -€70,251 | -€39,810 | -130.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.