Mad Hatter Management: 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 Hatter Management
Largest movements
- Current investments +€93,171
new in 2025: €93,171
- Cash +€85,335
up €85,335 (+100%), from €85,235 to €170,570
mainly Net result for the year (+€188,528) and Tax, wage and social debts (+€50,471)
- Receivables within one year +€46,828
up €46,828 (+131%), from €35,825 to €82,653
- Deferred charges and accrued income +€21,870
up €21,870 (+2,466%), from €887 to €22,756
- Tangible fixed assets +€11,984
up €11,984 (+1,025%), from €1,169 to €13,153
of which Furniture and vehicles: +€7,738
- Reserves +€188,528
up €188,528 (+318%), from €59,242 to €247,770
- Tax, wage and social debts +€50,471
up €50,471 (+178%), from €28,418 to €78,889
- Advances received +€29,222
up €29,222 (+2,100%), from €1,392 to €30,613
- Gross operating margin +€190,393
up €190,393 (+224%), from €85,083 to €275,476
- Taxes +€59,710
up €59,710 (+259%), from €23,089 to €82,799
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.
Derived cash bridge
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 | €123,116 | €387,263 | +€264,147 | +215% |
| Fixed assets | 21/28 | €1,169 | €18,113 | +€16,943 | +1,449% |
| Intangible fixed assets | 21 | - | €4,960 | +€4,960 | |
| Tangible fixed assets | 22/27 | €1,169 | €13,153 | +€11,984 | +1,025% |
| Plant, machinery and equipment | 23 | €1,169 | €5,415 | +€4,246 | +363% |
| Furniture and vehicles | 24 | - | €7,738 | +€7,738 | |
| Current assets | 29/58 | €121,947 | €369,150 | +€247,204 | +203% |
| Amounts receivable within one year | 40/41 | €35,825 | €82,653 | +€46,828 | +131% |
| Trade receivables | 40 | €35,825 | €82,653 | +€46,828 | +131% |
| Current investments | 50/53 | - | €93,171 | +€93,171 | |
| Cash at bank and in hand | 54/58 | €85,235 | €170,570 | +€85,335 | +100% |
| Deferred charges and accrued income | 490/1 | €887 | €22,756 | +€21,870 | +2,466% |
| Total equity and liabilities | 10/49 | €123,116 | €387,263 | +€264,147 | +215% |
| Equity | 10/15 | €60,742 | €249,270 | +€188,528 | +310% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €59,242 | €247,770 | +€188,528 | +318% |
| Distributable reserves | 133 | €59,242 | €247,770 | +€188,528 | +318% |
| Amounts payable | 17/49 | €62,373 | €137,993 | +€75,619 | +121% |
| Amounts payable within one year | 42/48 | €61,788 | €137,639 | +€75,851 | +123% |
| Trade debts | 44 | €8,119 | €6,232 | -€1,887 | -23.2% |
| Suppliers | 440/4 | €2,369 | €6,232 | +€3,863 | +163% |
| Bills of exchange payable | 441 | €5,750 | - | -€5,750 | |
| Advances received on contracts in progress | 46 | €1,392 | €30,613 | +€29,222 | +2,100% |
| Taxes, remuneration and social security | 45 | €28,418 | €78,889 | +€50,471 | +178% |
| Taxes | 450/3 | €28,418 | €78,889 | +€50,471 | +178% |
| Other amounts payable | 47/48 | €23,859 | €21,905 | -€1,954 | -8.2% |
| Accrued charges and deferred income | 492/3 | €585 | €354 | -€232 | -39.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,672 | €1,641 | -€1,031 | -38.6% |
| Other operating charges | 640/8 | €58 | €345 | +€287 | +495% |
| Gross operating margin | 9900 | €85,083 | €275,476 | +€190,393 | +224% |
| Operating profit (loss) | 9901 | €82,353 | €273,490 | +€191,137 | +232% |
| Financial income | 75/76B | - | €90 | +€90 | |
| Recurring financial income | 75 | - | €90 | +€90 | |
| Financial charges | 65/66B | €22 | €2,253 | +€2,232 | +10,380% |
| Recurring financial charges | 65 | €22 | €2,253 | +€2,232 | +10,380% |
| Profit (loss) for the period before taxes | 9903 | €82,331 | €271,327 | +€188,996 | +230% |
| Income taxes | 67/77 | €23,089 | €82,799 | +€59,710 | +259% |
| Profit (loss) for the period | 9904 | €59,242 | €188,528 | +€129,286 | +218% |
| Profit (loss) for the period to be appropriated | 9905 | €59,242 | €188,528 | +€129,286 | +218% |
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 28 October 2026 via checked.be.