MA-DO: 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.
MA-DO
Largest movements
- Tangible fixed assets -€9,403
down €9,403 (-37.0%), from €25,381 to €15,979
of which Furniture and vehicles: -€9,535
- Receivables within one year -€8,175
down €8,175 (-9.8%), from €83,623 to €75,448
of which Trade receivables: -€18,734
- Cash -€5,254
no longer reported in 2024 (was €5,254)
- Profit (loss) carried forward -€14,245
down €14,245 (-27.2%), from €52,436 to €38,191
- Debts after one year -€13,643
down €13,643 (-79.9%), from €17,076 to €3,433
- Short-term financial debts +€6,563
new in 2024: €6,563
- Current portion of long-term debt +€5,579
up €5,579 (+69.0%), from €8,087 to €13,666
- Trade debts -€3,470
down €3,470 (-46.4%), from €7,475 to €4,005
- Depreciation +€14,246
up €14,246 (+2,053%), from €694 to €14,940
- Other operating charges -€5,814
down €5,814 (-34.7%), from €16,736 to €10,922
- Financial charges +€5,305
up €5,305 (+585%), from €907 to €6,213
- Taxes -€5,229
down €5,229 (-97.6%), from €5,357 to €128
- Gross operating margin -€3,907
down €3,907 (-9.4%), from €41,641 to €37,734
From the 2022 result to the 2024 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2022 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €114,469 | €92,523 | -€21,946 | -19.2% |
| Fixed assets | 21/28 | €25,593 | €16,190 | -€9,403 | -36.7% |
| Tangible fixed assets | 22/27 | €25,381 | €15,979 | -€9,403 | -37.0% |
| Plant, machinery and equipment | 23 | €913 | €1,045 | +€132 | +14.5% |
| Furniture and vehicles | 24 | €24,468 | €14,933 | -€9,535 | -39.0% |
| Financial fixed assets | 28 | €212 | €212 | = | 0.0% |
| Current assets | 29/58 | €88,876 | €76,333 | -€12,543 | -14.1% |
| Amounts receivable within one year | 40/41 | €83,623 | €75,448 | -€8,175 | -9.8% |
| Trade receivables | 40 | €34,370 | €15,636 | -€18,734 | -54.5% |
| Other amounts receivable | 41 | €49,253 | €59,812 | +€10,559 | +21.4% |
| Cash at bank and in hand | 54/58 | €5,254 | - | -€5,254 | |
| Deferred charges and accrued income | 490/1 | - | €885 | +€885 | |
| Total equity and liabilities | 10/49 | €114,469 | €92,523 | -€21,946 | -19.2% |
| Equity | 10/15 | €69,296 | €55,051 | -€14,245 | -20.6% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €52,436 | €38,191 | -€14,245 | -27.2% |
| Amounts payable | 17/49 | €45,173 | €37,473 | -€7,700 | -17.0% |
| Amounts payable after more than one year | 17 | €17,076 | €3,433 | -€13,643 | -79.9% |
| Financial debts | 170/4 | €17,076 | €3,433 | -€13,643 | -79.9% |
| Amounts payable within one year | 42/48 | €28,097 | €34,040 | +€5,942 | +21.1% |
| Current portion of amounts payable after more than one year | 42 | €8,087 | €13,666 | +€5,579 | +69.0% |
| Financial debts | 43 | - | €6,563 | +€6,563 | |
| Credit institutions | 430/8 | - | €6,563 | +€6,563 | |
| Trade debts | 44 | €7,475 | €4,005 | -€3,470 | -46.4% |
| Suppliers | 440/4 | €7,475 | €4,005 | -€3,470 | -46.4% |
| Advances received on contracts in progress | 46 | €5,075 | €5,075 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €7,461 | €4,731 | -€2,730 | -36.6% |
| Taxes | 450/3 | €7,461 | €4,731 | -€2,730 | -36.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €694 | €14,940 | +€14,246 | +2,053% |
| Other operating charges | 640/8 | €16,736 | €10,922 | -€5,814 | -34.7% |
| Gross operating margin | 9900 | €41,641 | €37,734 | -€3,907 | -9.4% |
| Operating profit (loss) | 9901 | €24,211 | €11,871 | -€12,340 | -51.0% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €907 | €6,213 | +€5,305 | +585% |
| Recurring financial charges | 65 | €907 | €6,213 | +€5,305 | +585% |
| Profit (loss) for the period before taxes | 9903 | €23,304 | €5,659 | -€17,645 | -75.7% |
| Income taxes | 67/77 | €5,357 | €128 | -€5,229 | -97.6% |
| Profit (loss) for the period | 9904 | €17,946 | €5,531 | -€12,416 | -69.2% |
| Profit (loss) for the period to be appropriated | 9905 | €17,946 | €5,531 | -€12,416 | -69.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2022 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.