MAD.GROUP: 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.
MAD.GROUP
Largest movements
- Cash -€6,411
down €6,411 (-19.2%), from €33,411 to €27,000
mainly Trade debts (-€2,330) and Receivables within one year (-€1,866)
- Receivables within one year +€1,866
up €1,866 (+4.6%), from €40,408 to €42,274
of which Trade receivables: +€1,856
- Trade debts -€2,330
down €2,330 (-12.3%), from €18,982 to €16,652
- Profit (loss) carried forward -€1,290
down €1,290 (-2.3%), from €56,543 to €55,252
- Gross operating margin -€28,645
down €28,645 (-86.2%), from €33,230 to €4,585
- Staff costs -€19,228
down €19,228 (-87.2%), from €22,058 to €2,830
- Taxes +€2,534
up €2,534 (+793.3%), from €319 to €2,853
- Other operating charges -€773
no longer reported in 2025 (was €773)
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 | €103,549 | €99,004 | -€4,545 | -4.4% |
| Fixed assets | 21/28 | €29,730 | €29,730 | = | 0.0% |
| Financial fixed assets | 28 | €29,730 | €29,730 | = | 0.0% |
| Current assets | 29/58 | €73,819 | €69,274 | -€4,545 | -6.2% |
| Amounts receivable within one year | 40/41 | €40,408 | €42,274 | +€1,866 | +4.6% |
| Trade receivables | 40 | €40,408 | €42,264 | +€1,856 | +4.6% |
| Other amounts receivable | 41 | - | €10 | +€10 | |
| Cash at bank and in hand | 54/58 | €33,411 | €27,000 | -€6,411 | -19.2% |
| Total equity and liabilities | 10/49 | €103,549 | €99,004 | -€4,545 | -4.4% |
| Equity | 10/15 | €77,003 | €75,712 | -€1,290 | -1.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €56,543 | €55,252 | -€1,290 | -2.3% |
| Amounts payable | 17/49 | €26,546 | €23,292 | -€3,254 | -12.3% |
| Amounts payable within one year | 42/48 | €26,546 | €23,292 | -€3,254 | -12.3% |
| Trade debts | 44 | €18,982 | €16,652 | -€2,330 | -12.3% |
| Suppliers | 440/4 | €18,982 | €16,652 | -€2,330 | -12.3% |
| Taxes, remuneration and social security | 45 | €7,564 | €6,640 | -€925 | -12.2% |
| Taxes | 450/3 | €4,675 | €3,751 | -€925 | -19.8% |
| Remuneration and social security | 454/9 | €2,889 | €2,889 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €22,058 | €2,830 | -€19,228 | -87.2% |
| Other operating charges | 640/8 | €773 | - | -€773 | |
| Gross operating margin | 9900 | €33,230 | €4,585 | -€28,645 | -86.2% |
| Operating profit (loss) | 9901 | €10,400 | €1,755 | -€8,645 | -83.1% |
| Financial charges | 65/66B | €181 | €192 | +€11 | +6.1% |
| Recurring financial charges | 65 | €181 | €192 | +€11 | +6.1% |
| Profit (loss) for the period before taxes | 9903 | €10,219 | €1,562 | -€8,656 | -84.7% |
| Income taxes | 67/77 | €319 | €2,853 | +€2,534 | +793.3% |
| Profit (loss) for the period | 9904 | €9,899 | -€1,290 | -€11,190 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,899 | -€1,290 | -€11,190 |
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 7 October 2026 via checked.be.