MAD agency: what changed
MAD agency
Largest movements
- Cash -€34,731
down €34,731 (-37.0%), from €93,865 to €59,133
mainly Other debts (-€27,997) and Net result for the year (-€7,117)
- Tangible fixed assets -€5,593
down €5,593 (-82.1%), from €6,817 to €1,224
- Receivables within one year +€4,826
up €4,826 (+24.8%), from €19,453 to €24,279
of which Other amounts receivable: +€5,748
- Stocks and contracts -€3,209
down €3,209 (-31.0%), from €10,343 to €7,134
- Other debts -€27,997
down €27,997 (-35.9%), from €77,889 to €49,892
- Profit (loss) carried forward -€7,117
down €7,117 (-25.6%), from -€27,779 to -€34,896
- Tax, wage and social debts -€4,469
down €4,469 (-60.8%), from €7,347 to €2,879
- Gross operating margin -€38,619
down €38,619, from €37,380 to -€1,239
- Taxes -€7,438
down €7,438, from €6,439 to -€999
- Depreciation -€839
down €839 (-13.0%), from €6,432 to €5,593
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €132,355 | €93,506 | -€38,849 | -29.4% |
| Fixed assets | 21/28 | €6,817 | €1,224 | -€5,593 | -82.1% |
| Tangible fixed assets | 22/27 | €6,817 | €1,224 | -€5,593 | -82.1% |
| Furniture and vehicles | 24 | €6,817 | €1,224 | -€5,593 | -82.1% |
| Current assets | 29/58 | €125,538 | €92,283 | -€33,255 | -26.5% |
| Stocks and contracts in progress | 3 | €10,343 | €7,134 | -€3,209 | -31.0% |
| Stocks | 30/36 | €10,343 | €7,134 | -€3,209 | -31.0% |
| Amounts receivable within one year | 40/41 | €19,453 | €24,279 | +€4,826 | +24.8% |
| Trade receivables | 40 | €19,453 | €18,531 | -€922 | -4.7% |
| Other amounts receivable | 41 | - | €5,748 | +€5,748 | |
| Cash at bank and in hand | 54/58 | €93,865 | €59,133 | -€34,731 | -37.0% |
| Deferred charges and accrued income | 490/1 | €1,878 | €1,737 | -€141 | -7.5% |
| Total equity and liabilities | 10/49 | €132,355 | €93,506 | -€38,849 | -29.4% |
| Equity | 10/15 | €45,281 | €38,164 | -€7,117 | -15.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €66,860 | €66,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €65,000 | €66,860 | +€1,860 | +2.9% |
| Profit (loss) carried forward | 14 | -€27,779 | -€34,896 | -€7,117 | -25.6% |
| Amounts payable | 17/49 | €87,075 | €55,343 | -€31,732 | -36.4% |
| Amounts payable within one year | 42/48 | €87,075 | €55,343 | -€31,732 | -36.4% |
| Trade debts | 44 | €1,839 | €2,572 | +€734 | +39.9% |
| Suppliers | 440/4 | €1,839 | €2,572 | +€734 | +39.9% |
| Taxes, remuneration and social security | 45 | €7,347 | €2,879 | -€4,469 | -60.8% |
| Taxes | 450/3 | €7,347 | €2,879 | -€4,469 | -60.8% |
| Other amounts payable | 47/48 | €77,889 | €49,892 | -€27,997 | -35.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,432 | €5,593 | -€839 | -13.0% |
| Other operating charges | 640/8 | €723 | €790 | +€67 | +9.3% |
| Gross operating margin | 9900 | €37,380 | -€1,239 | -€38,619 | |
| Operating profit (loss) | 9901 | €30,225 | -€7,622 | -€37,847 | |
| Financial income | 75/76B | - | €2 | +€2 | |
| Recurring financial income | 75 | - | €2 | +€2 | |
| Financial charges | 65/66B | €612 | €496 | -€116 | -18.9% |
| Recurring financial charges | 65 | €612 | €496 | -€116 | -18.9% |
| Profit (loss) for the period before taxes | 9903 | €29,613 | -€8,116 | -€37,729 | |
| Income taxes | 67/77 | €6,439 | -€999 | -€7,438 | |
| Profit (loss) for the period | 9904 | €23,174 | -€7,117 | -€30,291 | |
| Profit (loss) for the period to be appropriated | 9905 | €23,174 | -€7,117 | -€30,291 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.