M.A.D. Architecture: 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.
M.A.D. Architecture
Largest movements
- Stocks and contracts -€343,406
down €343,406 (-100%), from €343,406 to €0
- Tangible fixed assets +€192,157
up €192,157 (+33.8%), from €569,259 to €761,416
of which Land and buildings: +€298,304
- Profit (loss) carried forward -€60,419
down €60,419, from €55,441 to -€4,979
- Debts after one year -€60,234
down €60,234 (-10.0%), from €600,797 to €540,563
- Other debts -€9,545
down €9,545 (-7.3%), from €131,359 to €121,815
- Trade debts -€9,372
down €9,372 (-21.4%), from €43,756 to €34,384
- Gross operating margin -€170,380
down €170,380, from €166,208 to -€4,172
- Financial charges -€18,080
down €18,080 (-50.6%), from €35,753 to €17,673
- Taxes -€12,033
down €12,033 (-98.2%), from €12,248 to €216
- Other operating charges +€7,551
up €7,551 (+143%), from €5,272 to €12,823
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 | €924,087 | €787,546 | -€136,541 | -14.8% |
| Fixed assets | 21/28 | €569,259 | €761,416 | +€192,157 | +33.8% |
| Tangible fixed assets | 22/27 | €569,259 | €761,416 | +€192,157 | +33.8% |
| Land and buildings | 22 | €379,201 | €677,505 | +€298,304 | +78.7% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Other tangible fixed assets | 26 | €190,058 | €83,911 | -€106,147 | -55.8% |
| Current assets | 29/58 | €354,828 | €26,130 | -€328,698 | -92.6% |
| Stocks and contracts in progress | 3 | €343,406 | €0 | -€343,406 | -100% |
| Stocks | 30/36 | €343,406 | €0 | -€343,406 | -100% |
| Amounts receivable within one year | 40/41 | €0 | €7,567 | +€7,567 | |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | - | €7,567 | +€7,567 | |
| Cash at bank and in hand | 54/58 | €9,592 | €13,039 | +€3,447 | +35.9% |
| Deferred charges and accrued income | 490/1 | €1,829 | €5,524 | +€3,694 | +202% |
| Total equity and liabilities | 10/49 | €924,087 | €787,546 | -€136,541 | -14.8% |
| Equity | 10/15 | €107,441 | €45,021 | -€62,419 | -58.1% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €0 | -€2,000 | -100% |
| Distributable reserves | 133 | €2,000 | €0 | -€2,000 | -100% |
| Profit (loss) carried forward | 14 | €55,441 | -€4,979 | -€60,419 | |
| Amounts payable | 17/49 | €816,646 | €742,524 | -€74,122 | -9.1% |
| Amounts payable after more than one year | 17 | €600,797 | €540,563 | -€60,234 | -10.0% |
| Financial debts | 170/4 | €600,797 | €540,563 | -€60,234 | -10.0% |
| Amounts payable within one year | 42/48 | €214,376 | €199,458 | -€14,919 | -7.0% |
| Current portion of amounts payable after more than one year | 42 | €26,834 | €32,756 | +€5,922 | +22.1% |
| Trade debts | 44 | €43,756 | €34,384 | -€9,372 | -21.4% |
| Suppliers | 440/4 | €43,756 | €34,384 | -€9,372 | -21.4% |
| Taxes, remuneration and social security | 45 | €12,427 | €10,503 | -€1,924 | -15.5% |
| Taxes | 450/3 | €12,427 | €10,503 | -€1,924 | -15.5% |
| Other amounts payable | 47/48 | €131,359 | €121,815 | -€9,545 | -7.3% |
| Accrued charges and deferred income | 492/3 | €1,473 | €2,504 | +€1,031 | +70.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,767 | €27,536 | -€1,231 | -4.3% |
| Other operating charges | 640/8 | €5,272 | €12,823 | +€7,551 | +143% |
| Gross operating margin | 9900 | €166,208 | -€4,172 | -€170,380 | |
| Operating profit (loss) | 9901 | €132,169 | -€44,531 | -€176,700 | |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €35,753 | €17,673 | -€18,080 | -50.6% |
| Recurring financial charges | 65 | €35,753 | €17,673 | -€18,080 | -50.6% |
| Profit (loss) for the period before taxes | 9903 | €96,416 | -€62,204 | -€158,620 | |
| Income taxes | 67/77 | €12,248 | €216 | -€12,033 | -98.2% |
| Profit (loss) for the period | 9904 | €84,168 | -€62,419 | -€146,587 | |
| Profit (loss) for the period to be appropriated | 9905 | €84,168 | -€62,419 | -€146,587 |
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.