MAD CONSULT: 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.
MAD CONSULT
Largest movements
- Cash +€30,752
up €30,752 (+120.9%), from €25,442 to €56,194
mainly Net result for the year (+€34,464) and Depreciation (+€3,393)
- Deferred charges and accrued income +€1,790
new in 2025: €1,790
- Receivables within one year +€1,179
up €1,179 (+10.5%), from €11,260 to €12,439
of which Trade receivables: +€1,210
- Tangible fixed assets +€1,137
up €1,137 (+7.0%), from €16,277 to €17,414
of which Furniture and vehicles: +€2,580
- Reserves +€34,464
up €34,464 (+78.1%), from €44,148 to €78,612
- Gross operating margin +€16,323
up €16,323 (+46.7%), from €34,975 to €51,298
- Taxes +€2,904
up €2,904 (+43.0%), from €6,757 to €9,661
- Depreciation +€1,171
up €1,171 (+52.7%), from €2,222 to €3,393
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 | €52,979 | €87,837 | +€34,858 | +65.8% |
| Fixed assets | 21/28 | €16,277 | €17,414 | +€1,137 | +7.0% |
| Tangible fixed assets | 22/27 | €16,277 | €17,414 | +€1,137 | +7.0% |
| Plant, machinery and equipment | 23 | €8,808 | €7,365 | -€1,443 | -16.4% |
| Furniture and vehicles | 24 | €7,468 | €10,048 | +€2,580 | +34.5% |
| Current assets | 29/58 | €36,702 | €70,424 | +€33,721 | +91.9% |
| Amounts receivable within one year | 40/41 | €11,260 | €12,439 | +€1,179 | +10.5% |
| Trade receivables | 40 | €10,890 | €12,100 | +€1,210 | +11.1% |
| Other amounts receivable | 41 | €370 | €339 | -€31 | -8.4% |
| Cash at bank and in hand | 54/58 | €25,442 | €56,194 | +€30,752 | +120.9% |
| Deferred charges and accrued income | 490/1 | - | €1,790 | +€1,790 | |
| Total equity and liabilities | 10/49 | €52,979 | €87,837 | +€34,858 | +65.8% |
| Equity | 10/15 | €47,148 | €81,612 | +€34,464 | +73.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €44,148 | €78,612 | +€34,464 | +78.1% |
| Distributable reserves | 133 | €44,148 | €78,612 | +€34,464 | +78.1% |
| Amounts payable | 17/49 | €5,831 | €6,226 | +€395 | +6.8% |
| Amounts payable within one year | 42/48 | €5,831 | €6,226 | +€395 | +6.8% |
| Trade debts | 44 | - | €206 | +€206 | |
| Suppliers | 440/4 | - | €206 | +€206 | |
| Taxes, remuneration and social security | 45 | €5,697 | €5,820 | +€123 | +2.2% |
| Taxes | 450/3 | €5,697 | €5,820 | +€123 | +2.2% |
| Other amounts payable | 47/48 | €134 | €200 | +€66 | +49.2% |
| Remuneration, social security and pensions | 62 | €2,072 | €2,032 | -€40 | -1.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,222 | €3,393 | +€1,171 | +52.7% |
| Other operating charges | 640/8 | €593 | €522 | -€71 | -11.9% |
| Gross operating margin | 9900 | €34,975 | €51,298 | +€16,323 | +46.7% |
| Operating profit (loss) | 9901 | €30,088 | €45,351 | +€15,263 | +50.7% |
| Financial income | 75/76B | €1 | €6 | +€6 | +946.7% |
| Recurring financial income | 75 | €1 | €6 | +€6 | +946.7% |
| Financial charges | 65/66B | €1,287 | €1,232 | -€55 | -4.3% |
| Recurring financial charges | 65 | €1,287 | €1,232 | -€55 | -4.3% |
| Profit (loss) for the period before taxes | 9903 | €28,801 | €44,125 | +€15,323 | +53.2% |
| Income taxes | 67/77 | €6,757 | €9,661 | +€2,904 | +43.0% |
| Profit (loss) for the period | 9904 | €22,044 | €34,464 | +€12,419 | +56.3% |
| Profit (loss) for the period to be appropriated | 9905 | €22,044 | €34,464 | +€12,419 | +56.3% |
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 7 October 2026 via checked.be.