M.A.D.E. SIGNS: 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.E. SIGNS
Largest movements
- Tangible fixed assets +€38,549
up €38,549 (+1246.3%), from €3,093 to €41,642
of which Furniture and vehicles: +€39,142
- Receivables within one year +€24,871
up €24,871 (+17.4%), from €143,310 to €168,181
of which Other amounts receivable: +€24,872
- Cash +€11,040
up €11,040 (+18.4%), from €60,139 to €71,179
mainly Net result for the year (+€55,024) and Debts after one year (+€34,427)
- Reserves +€43,000
up €43,000 (+10.8%), from €399,134 to €442,134
of which Distributable reserves: +€43,000
- Debts after one year +€34,427
new in 2025: €34,427
- Short-term financial debts -€7,618
no longer reported in 2025 (was €7,618)
- Gross operating margin +€9,028
up €9,028 (+12.1%), from €74,454 to €83,482
- Depreciation +€3,621
up €3,621 (+481.5%), from €752 to €4,373
- Taxes -€2,643
down €2,643 (-11.1%), from €23,858 to €21,215
- Financial charges +€1,780
up €1,780 (+128.2%), from €1,388 to €3,168
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 | €614,071 | €690,148 | +€76,077 | +12.4% |
| Fixed assets | 21/28 | €3,093 | €41,642 | +€38,549 | +1246.3% |
| Tangible fixed assets | 22/27 | €3,093 | €41,642 | +€38,549 | +1246.3% |
| Furniture and vehicles | 24 | €40 | €39,182 | +€39,142 | +97855.0% |
| Other tangible fixed assets | 26 | €3,053 | €2,460 | -€593 | -19.4% |
| Current assets | 29/58 | €610,978 | €648,506 | +€37,528 | +6.1% |
| Amounts receivable after more than one year | 29 | €400,000 | €400,000 | = | 0.0% |
| Other amounts receivable | 291 | €400,000 | €400,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €143,310 | €168,181 | +€24,871 | +17.4% |
| Trade receivables | 40 | €3,582 | €3,581 | -€1 | 0.0% |
| Other amounts receivable | 41 | €139,728 | €164,600 | +€24,872 | +17.8% |
| Cash at bank and in hand | 54/58 | €60,139 | €71,179 | +€11,040 | +18.4% |
| Deferred charges and accrued income | 490/1 | €7,529 | €9,146 | +€1,617 | +21.5% |
| Total equity and liabilities | 10/49 | €614,071 | €690,148 | +€76,077 | +12.4% |
| Equity | 10/15 | €494,270 | €537,294 | +€43,024 | +8.7% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €399,134 | €442,134 | +€43,000 | +10.8% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €33,275 | €33,275 | = | 0.0% |
| Distributable reserves | 133 | €364,000 | €407,000 | +€43,000 | +11.8% |
| Profit (loss) carried forward | 14 | €88,939 | €88,963 | +€24 | 0.0% |
| Provisions and deferred taxes | 16 | €15,000 | €15,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €15,000 | €15,000 | = | 0.0% |
| Pensions and similar obligations | 160 | €15,000 | €15,000 | = | 0.0% |
| Amounts payable | 17/49 | €104,801 | €137,854 | +€33,053 | +31.5% |
| Amounts payable after more than one year | 17 | - | €34,427 | +€34,427 | |
| Financial debts | 170/4 | - | €34,427 | +€34,427 | |
| Amounts payable within one year | 42/48 | €101,841 | €100,467 | -€1,374 | -1.3% |
| Current portion of amounts payable after more than one year | 42 | €23,238 | €22,994 | -€244 | -1.1% |
| Financial debts | 43 | €7,618 | - | -€7,618 | |
| Credit institutions | 430/8 | €7,618 | - | -€7,618 | |
| Trade debts | 44 | €12,784 | €9,817 | -€2,967 | -23.2% |
| Suppliers | 440/4 | €12,784 | €9,817 | -€2,967 | -23.2% |
| Taxes, remuneration and social security | 45 | €49,201 | €55,656 | +€6,455 | +13.1% |
| Taxes | 450/3 | €46,301 | €55,656 | +€9,355 | +20.2% |
| Remuneration and social security | 454/9 | €2,900 | - | -€2,900 | |
| Other amounts payable | 47/48 | €9,000 | €12,000 | +€3,000 | +33.3% |
| Accrued charges and deferred income | 492/3 | €2,960 | €2,960 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €752 | €4,373 | +€3,621 | +481.5% |
| Other operating charges | 640/8 | €410 | €268 | -€142 | -34.6% |
| Gross operating margin | 9900 | €74,454 | €83,482 | +€9,028 | +12.1% |
| Operating profit (loss) | 9901 | €73,292 | €78,841 | +€5,549 | +7.6% |
| Financial income | 75/76B | €455 | €566 | +€111 | +24.4% |
| Recurring financial income | 75 | €455 | €566 | +€111 | +24.4% |
| Financial charges | 65/66B | €1,388 | €3,168 | +€1,780 | +128.2% |
| Recurring financial charges | 65 | €1,388 | €3,168 | +€1,780 | +128.2% |
| Profit (loss) for the period before taxes | 9903 | €72,359 | €76,239 | +€3,880 | +5.4% |
| Income taxes | 67/77 | €23,858 | €21,215 | -€2,643 | -11.1% |
| Profit (loss) for the period | 9904 | €48,501 | €55,024 | +€6,523 | +13.4% |
| Profit (loss) for the period to be appropriated | 9905 | €48,501 | €55,024 | +€6,523 | +13.4% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.