MAD.e: 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.e
Largest movements
- Cash +€17,297
up €17,297 (+71.5%), from €24,208 to €41,506
mainly Other debts (+€33,745) and Net result for the year (+€1,706)
- Receivables within one year +€11,093
up €11,093 (+173.0%), from €6,413 to €17,506
of which Trade receivables: +€9,752
- Other debts +€33,745
up €33,745 (+126.5%), from €26,667 to €60,412
- Trade debts -€7,971
down €7,971 (-89.7%), from €8,884 to €913
- Profit (loss) carried forward +€1,706
up €1,706 (+20.6%), from -€8,263 to -€6,557
- Contributions +€1,111
up €1,111 (+33.3%), from €3,333 to €4,444
- Gross operating margin +€10,485
up €10,485, from -€8,173 to €2,312
- Other operating charges +€400
new in 2025: €400
- Financial charges +€116
up €116 (+128.7%), from €90 to €206
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 | €30,621 | €59,212 | +€28,591 | +93.4% |
| Fixed assets | 21/28 | - | €200 | +€200 | |
| Financial fixed assets | 28 | - | €200 | +€200 | |
| Current assets | 29/58 | €30,621 | €59,012 | +€28,391 | +92.7% |
| Amounts receivable within one year | 40/41 | €6,413 | €17,506 | +€11,093 | +173.0% |
| Trade receivables | 40 | €6,400 | €16,152 | +€9,752 | +152.4% |
| Other amounts receivable | 41 | €13 | €1,355 | +€1,342 | +10650.0% |
| Cash at bank and in hand | 54/58 | €24,208 | €41,506 | +€17,297 | +71.5% |
| Total equity and liabilities | 10/49 | €30,621 | €59,212 | +€28,591 | +93.4% |
| Equity | 10/15 | -€4,930 | -€2,113 | +€2,817 | +57.1% |
| Contributions | 10/11 | €3,333 | €4,444 | +€1,111 | +33.3% |
| Profit (loss) carried forward | 14 | -€8,263 | -€6,557 | +€1,706 | +20.6% |
| Amounts payable | 17/49 | €35,551 | €61,325 | +€25,774 | +72.5% |
| Amounts payable within one year | 42/48 | €35,551 | €61,325 | +€25,774 | +72.5% |
| Trade debts | 44 | €8,884 | €913 | -€7,971 | -89.7% |
| Suppliers | 440/4 | €8,884 | €913 | -€7,971 | -89.7% |
| Other amounts payable | 47/48 | €26,667 | €60,412 | +€33,745 | +126.5% |
| Other operating charges | 640/8 | - | €400 | +€400 | |
| Gross operating margin | 9900 | -€8,173 | €2,312 | +€10,485 | |
| Operating profit (loss) | 9901 | -€8,173 | €1,912 | +€10,086 | |
| Financial charges | 65/66B | €90 | €206 | +€116 | +128.7% |
| Recurring financial charges | 65 | €90 | €206 | +€116 | +128.7% |
| Profit (loss) for the period before taxes | 9903 | -€8,263 | €1,706 | +€9,969 | |
| Profit (loss) for the period | 9904 | -€8,263 | €1,706 | +€9,969 | |
| Profit (loss) for the period to be appropriated | 9905 | -€8,263 | €1,706 | +€9,969 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.