MAD - DAM: 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.
MAD - DAM
Largest movements
- Current investments -€91,033
no longer reported in 2024 (was €91,033)
- Tangible fixed assets -€40,185
down €40,185 (-23.1%), from €173,857 to €133,672
of which Land and buildings: -€38,468
- Cash +€39,382
up €39,382 (+74.1%), from €53,167 to €92,549
mainly Current investments (+€91,033) and Depreciation (+€40,185)
- Deferred charges and accrued income +€8,735
up €8,735 (+197%), from €4,428 to €13,163
- Stocks and contracts -€4,919
down €4,919 (-13.8%), from €35,712 to €30,793
- Debts after one year -€54,466
down €54,466 (-47.6%), from €114,513 to €60,047
of which Financial debts: -€54,466
- Profit (loss) carried forward -€32,998
down €32,998 (-201%), from -€16,418 to -€49,417
- Short-term financial debts -€8,852
no longer reported in 2024 (was €8,852)
- Trade debts +€4,591
up €4,591 (+19.7%), from €23,357 to €27,948
- Gross operating margin -€34,734
down €34,734 (-31.7%), from €109,616 to €74,882
- Staff costs -€31,145
down €31,145 (-37.8%), from €82,447 to €51,302
- Financial income -€3,509
down €3,509 (-58.2%), from €6,027 to €2,518
of which Non-recurring financial income: -€4,846
- Financial charges -€1,785
down €1,785 (-15.7%), from €11,374 to €9,589
From the 2023 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
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €394,437 | €302,643 | -€91,794 | -23.3% |
| Fixed assets | 21/28 | €186,305 | €146,120 | -€40,185 | -21.6% |
| Tangible fixed assets | 22/27 | €173,857 | €133,672 | -€40,185 | -23.1% |
| Land and buildings | 22 | €169,993 | €131,524 | -€38,468 | -22.6% |
| Furniture and vehicles | 24 | €3,864 | €2,148 | -€1,716 | -44.4% |
| Financial fixed assets | 28 | €12,448 | €12,448 | = | 0.0% |
| Current assets | 29/58 | €208,132 | €156,522 | -€51,610 | -24.8% |
| Stocks and contracts in progress | 3 | €35,712 | €30,793 | -€4,919 | -13.8% |
| Stocks | 30/36 | €35,712 | €30,793 | -€4,919 | -13.8% |
| Amounts receivable within one year | 40/41 | €23,792 | €20,018 | -€3,774 | -15.9% |
| Trade receivables | 40 | €2,106 | €7,731 | +€5,624 | +267% |
| Other amounts receivable | 41 | €21,685 | €12,287 | -€9,398 | -43.3% |
| Current investments | 50/53 | €91,033 | - | -€91,033 | |
| Cash at bank and in hand | 54/58 | €53,167 | €92,549 | +€39,382 | +74.1% |
| Deferred charges and accrued income | 490/1 | €4,428 | €13,163 | +€8,735 | +197% |
| Total equity and liabilities | 10/49 | €394,437 | €302,643 | -€91,794 | -23.3% |
| Equity | 10/15 | €153,699 | €120,700 | -€32,998 | -21.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €151,517 | €151,517 | = | 0.0% |
| Distributable reserves | 133 | €151,517 | €151,517 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€16,418 | -€49,417 | -€32,998 | -201% |
| Amounts payable | 17/49 | €240,739 | €181,942 | -€58,796 | -24.4% |
| Amounts payable after more than one year | 17 | €114,513 | €60,047 | -€54,466 | -47.6% |
| Financial debts | 170/4 | €106,343 | €51,877 | -€54,466 | -51.2% |
| Other amounts payable | 178/9 | €8,170 | €8,170 | = | 0.0% |
| Amounts payable within one year | 42/48 | €126,226 | €121,895 | -€4,331 | -3.4% |
| Current portion of amounts payable after more than one year | 42 | €52,314 | €54,466 | +€2,152 | +4.1% |
| Financial debts | 43 | €8,852 | - | -€8,852 | |
| Credit institutions | 430/8 | €8,852 | - | -€8,852 | |
| Trade debts | 44 | €23,357 | €27,948 | +€4,591 | +19.7% |
| Suppliers | 440/4 | €23,357 | €27,948 | +€4,591 | +19.7% |
| Taxes, remuneration and social security | 45 | €23,450 | €21,477 | -€1,973 | -8.4% |
| Taxes | 450/3 | €9,678 | €14,149 | +€4,471 | +46.2% |
| Remuneration and social security | 454/9 | €13,772 | €7,328 | -€6,444 | -46.8% |
| Other amounts payable | 47/48 | €18,252 | €18,005 | -€247 | -1.4% |
| Non-recurring operating income | 76A | €12,500 | - | -€12,500 | |
| Remuneration, social security and pensions | 62 | €82,447 | €51,302 | -€31,145 | -37.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,296 | €40,185 | -€111 | -0.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €136 | +€136 | |
| Other operating charges | 640/8 | €8,436 | €8,720 | +€284 | +3.4% |
| Gross operating margin | 9900 | €109,616 | €74,882 | -€34,734 | -31.7% |
| Operating profit (loss) | 9901 | -€21,562 | -€25,460 | -€3,898 | -18.1% |
| Financial income | 75/76B | €6,027 | €2,518 | -€3,509 | -58.2% |
| Recurring financial income | 75 | €1,181 | €2,518 | +€1,337 | +113% |
| Non-recurring financial income | 76B | €4,846 | - | -€4,846 | |
| Financial charges | 65/66B | €11,374 | €9,589 | -€1,785 | -15.7% |
| Recurring financial charges | 65 | €11,374 | €9,589 | -€1,785 | -15.7% |
| Profit (loss) for the period before taxes | 9903 | -€26,909 | -€32,531 | -€5,622 | -20.9% |
| Income taxes | 67/77 | €653 | €468 | -€186 | -28.5% |
| Profit (loss) for the period | 9904 | -€27,562 | -€32,998 | -€5,436 | -19.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€27,562 | -€32,998 | -€5,436 | -19.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.