MA.DENT: 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.
MA.DENT
Largest movements
- Cash -€45,094
down €45,094 (-62.0%), from €72,726 to €27,632
mainly Receivables within one year (-€40,135) and Contributions, distributions and other (-€12,000)
- Receivables within one year +€40,135
up €40,135 (+76.8%), from €52,280 to €92,415
- Tangible fixed assets +€3,002
up €3,002 (+55.5%), from €5,408 to €8,410
of which Furniture and vehicles: +€3,880
- Other debts -€5,500
down €5,500 (-31.4%), from €17,500 to €12,000
- Profit (loss) carried forward +€3,828
up €3,828 (+43.4%), from €8,811 to €12,639
- Gross operating margin -€18,731
down €18,731 (-36.6%), from €51,210 to €32,479
- Taxes -€15,221
down €15,221 (-67.5%), from €22,565 to €7,344
- Depreciation +€4,941
up €4,941 (+183.1%), from €2,698 to €7,639
- Other operating charges -€614
down €614 (-29.7%), from €2,066 to €1,452
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 | €130,414 | €128,457 | -€1,957 | -1.5% |
| Fixed assets | 21/28 | €5,408 | €8,410 | +€3,002 | +55.5% |
| Tangible fixed assets | 22/27 | €5,408 | €8,410 | +€3,002 | +55.5% |
| Plant, machinery and equipment | 23 | €2,634 | €1,756 | -€878 | -33.3% |
| Furniture and vehicles | 24 | €2,774 | €6,654 | +€3,880 | +139.9% |
| Current assets | 29/58 | €125,006 | €120,047 | -€4,959 | -4.0% |
| Amounts receivable within one year | 40/41 | €52,280 | €92,415 | +€40,135 | +76.8% |
| Other amounts receivable | 41 | €52,280 | €92,415 | +€40,135 | +76.8% |
| Cash at bank and in hand | 54/58 | €72,726 | €27,632 | -€45,094 | -62.0% |
| Total equity and liabilities | 10/49 | €130,414 | €128,457 | -€1,957 | -1.5% |
| Equity | 10/15 | €112,311 | €116,139 | +€3,828 | +3.4% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €101,000 | €101,000 | = | 0.0% |
| Distributable reserves | 133 | €101,000 | €101,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,811 | €12,639 | +€3,828 | +43.4% |
| Amounts payable | 17/49 | €18,103 | €12,318 | -€5,785 | -32.0% |
| Amounts payable within one year | 42/48 | €18,103 | €12,318 | -€5,785 | -32.0% |
| Trade debts | 44 | €603 | €318 | -€285 | -47.3% |
| Suppliers | 440/4 | €603 | €318 | -€285 | -47.3% |
| Other amounts payable | 47/48 | €17,500 | €12,000 | -€5,500 | -31.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,698 | €7,639 | +€4,941 | +183.1% |
| Other operating charges | 640/8 | €2,066 | €1,452 | -€614 | -29.7% |
| Gross operating margin | 9900 | €51,210 | €32,479 | -€18,731 | -36.6% |
| Operating profit (loss) | 9901 | €46,446 | €23,388 | -€23,058 | -49.6% |
| Financial charges | 65/66B | €254 | €216 | -€38 | -15.0% |
| Recurring financial charges | 65 | €254 | €216 | -€38 | -15.0% |
| Profit (loss) for the period before taxes | 9903 | €46,192 | €23,172 | -€23,020 | -49.8% |
| Income taxes | 67/77 | €22,565 | €7,344 | -€15,221 | -67.5% |
| Profit (loss) for the period | 9904 | €23,627 | €15,828 | -€7,799 | -33.0% |
| Profit (loss) for the period to be appropriated | 9905 | €23,627 | €15,828 | -€7,799 | -33.0% |
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 6 October 2026 via checked.be.