M.A.D. Enterprise: 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. Enterprise
Largest movements
- Tangible fixed assets +€31,586
up €31,586 (+363%), from €8,712 to €40,298
of which Furniture and vehicles: +€34,453
- Receivables within one year +€9,606
up €9,606 (+31.6%), from €30,403 to €40,009
of which Trade receivables: +€6,345
- Cash +€8,456
up €8,456 (+94.2%), from €8,975 to €17,431
mainly Debts after one year (+€22,304) and Net result for the year (+€18,850)
- Deferred charges and accrued income +€2,544
new in 2025: €2,544
- Financial fixed assets +€1,250
up €1,250 (+36.2%), from €3,450 to €4,700
- Debts after one year +€22,304
up €22,304 (+73.5%), from €30,349 to €52,653
- Profit (loss) carried forward +€17,650
up €17,650, from -€17,650 to €0
- Current portion of long-term debt +€6,220
up €6,220, from €0 to €6,220
- Tax, wage and social debts +€3,189
up €3,189 (+65.1%), from €4,903 to €8,092
of which Taxes: +€2,680
- Trade debts +€2,949
up €2,949 (+79.7%), from €3,701 to €6,650
- Gross operating margin +€15,172
up €15,172 (+77.3%), from €19,622 to €34,794
- Depreciation +€4,587
up €4,587 (+81.7%), from €5,615 to €10,202
- Taxes +€1,744
new in 2025: €1,744
- Other operating charges +€1,451
up €1,451 (+118%), from €1,233 to €2,685
- Financial charges +€910
up €910 (+129%), from €707 to €1,618
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 | €51,540 | €104,982 | +€53,442 | +104% |
| Fixed assets | 21/28 | €12,162 | €44,998 | +€32,836 | +270% |
| Tangible fixed assets | 22/27 | €8,712 | €40,298 | +€31,586 | +363% |
| Plant, machinery and equipment | 23 | €7,801 | €4,934 | -€2,867 | -36.8% |
| Furniture and vehicles | 24 | €911 | €35,364 | +€34,453 | +3,783% |
| Financial fixed assets | 28 | €3,450 | €4,700 | +€1,250 | +36.2% |
| Current assets | 29/58 | €39,378 | €59,984 | +€20,606 | +52.3% |
| Amounts receivable within one year | 40/41 | €30,403 | €40,009 | +€9,606 | +31.6% |
| Trade receivables | 40 | €30,400 | €36,745 | +€6,345 | +20.9% |
| Other amounts receivable | 41 | €3 | €3,264 | +€3,261 | +129,423% |
| Cash at bank and in hand | 54/58 | €8,975 | €17,431 | +€8,456 | +94.2% |
| Deferred charges and accrued income | 490/1 | - | €2,544 | +€2,544 | |
| Total equity and liabilities | 10/49 | €51,540 | €104,982 | +€53,442 | +104% |
| Equity | 10/15 | -€2,222 | €16,628 | +€18,850 | |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €10,428 | €11,628 | +€1,200 | +11.5% |
| Distributable reserves | 133 | €10,428 | €11,628 | +€1,200 | +11.5% |
| Profit (loss) carried forward | 14 | -€17,650 | €0 | +€17,650 | |
| Amounts payable | 17/49 | €53,762 | €88,354 | +€34,592 | +64.3% |
| Amounts payable after more than one year | 17 | €30,349 | €52,653 | +€22,304 | +73.5% |
| Financial debts | 170/4 | €30,349 | €52,653 | +€22,304 | +73.5% |
| Amounts payable within one year | 42/48 | €23,413 | €35,572 | +€12,160 | +51.9% |
| Current portion of amounts payable after more than one year | 42 | €0 | €6,220 | +€6,220 | |
| Trade debts | 44 | €3,701 | €6,650 | +€2,949 | +79.7% |
| Suppliers | 440/4 | €3,701 | €6,650 | +€2,949 | +79.7% |
| Taxes, remuneration and social security | 45 | €4,903 | €8,092 | +€3,189 | +65.1% |
| Taxes | 450/3 | €4,351 | €7,031 | +€2,680 | +61.6% |
| Remuneration and social security | 454/9 | €552 | €1,061 | +€509 | +92.3% |
| Other amounts payable | 47/48 | €14,809 | €14,611 | -€198 | -1.3% |
| Accrued charges and deferred income | 492/3 | - | €128 | +€128 | |
| Non-recurring operating income | 76A | - | €1,383 | +€1,383 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,615 | €10,202 | +€4,587 | +81.7% |
| Other operating charges | 640/8 | €1,233 | €2,685 | +€1,451 | +118% |
| Gross operating margin | 9900 | €19,622 | €34,794 | +€15,172 | +77.3% |
| Operating profit (loss) | 9901 | €12,774 | €21,907 | +€9,133 | +71.5% |
| Financial income | 75/76B | €21 | €305 | +€284 | +1,323% |
| Recurring financial income | 75 | €21 | €305 | +€284 | +1,323% |
| Financial charges | 65/66B | €707 | €1,618 | +€910 | +129% |
| Recurring financial charges | 65 | €707 | €1,618 | +€910 | +129% |
| Profit (loss) for the period before taxes | 9903 | €12,088 | €20,594 | +€8,506 | +70.4% |
| Income taxes | 67/77 | - | €1,744 | +€1,744 | |
| Profit (loss) for the period | 9904 | €12,088 | €18,850 | +€6,762 | +55.9% |
| Profit (loss) for the period to be appropriated | 9905 | €12,088 | €18,850 | +€6,762 | +55.9% |
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 24 October 2026 via checked.be.