Mad Holding: 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 Holding
Largest movements
- Current investments +€109,229
up €109,229 (+243%), from €44,925 to €154,155
- Receivables within one year -€18,150
down €18,150 (-100%), from €18,150 to €0
- Reserves +€94,959
up €94,959 (+89.7%), from €105,806 to €200,765
- Debts after one year -€17,615
down €17,615 (-4.8%), from €367,324 to €349,710
- Other debts +€6,410
up €6,410 (+147%), from €4,353 to €10,764
- Gross operating margin -€57,016
down €57,016 (-29.6%), from €192,891 to €135,875
- Other operating charges -€39,520
down €39,520 (-94.0%), from €42,051 to €2,532
- Financial income +€13,755
up €13,755 (+668%), from €2,059 to €15,815
- Depreciation +€3,527
up €3,527 (+237%), from €1,489 to €5,016
- Taxes +€2,696
up €2,696 (+9.2%), from €29,359 to €32,054
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 | €542,462 | €627,315 | +€84,853 | +15.6% |
| Fixed assets | 21/28 | €464,156 | €459,140 | -€5,016 | -1.1% |
| Tangible fixed assets | 22/27 | €464,156 | €459,140 | -€5,016 | -1.1% |
| Land and buildings | 22 | €463,149 | €458,390 | -€4,759 | -1.0% |
| Furniture and vehicles | 24 | €1,007 | €749 | -€257 | -25.6% |
| Current assets | 29/58 | €78,306 | €168,175 | +€89,869 | +115% |
| Amounts receivable within one year | 40/41 | €18,150 | €0 | -€18,150 | -100% |
| Trade receivables | 40 | €18,150 | €0 | -€18,150 | -100% |
| Current investments | 50/53 | €44,925 | €154,155 | +€109,229 | +243% |
| Cash at bank and in hand | 54/58 | €15,231 | €14,020 | -€1,210 | -7.9% |
| Total equity and liabilities | 10/49 | €542,462 | €627,315 | +€84,853 | +15.6% |
| Equity | 10/15 | €107,806 | €202,765 | +€94,959 | +88.1% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €105,806 | €200,765 | +€94,959 | +89.7% |
| Distributable reserves | 133 | €105,806 | €200,765 | +€94,959 | +89.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €434,656 | €424,550 | -€10,107 | -2.3% |
| Amounts payable after more than one year | 17 | €367,324 | €349,710 | -€17,615 | -4.8% |
| Financial debts | 170/4 | €367,324 | €349,710 | -€17,615 | -4.8% |
| Amounts payable within one year | 42/48 | €66,142 | €74,840 | +€8,698 | +13.2% |
| Current portion of amounts payable after more than one year | 42 | €16,935 | €18,805 | +€1,870 | +11.0% |
| Trade debts | 44 | €554 | €0 | -€554 | -100% |
| Suppliers | 440/4 | €554 | €0 | -€554 | -100% |
| Taxes, remuneration and social security | 45 | €44,299 | €45,272 | +€972 | +2.2% |
| Taxes | 450/3 | €44,299 | €45,272 | +€972 | +2.2% |
| Other amounts payable | 47/48 | €4,353 | €10,764 | +€6,410 | +147% |
| Accrued charges and deferred income | 492/3 | €1,190 | €0 | -€1,190 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,489 | €5,016 | +€3,527 | +237% |
| Other operating charges | 640/8 | €42,051 | €2,532 | -€39,520 | -94.0% |
| Gross operating margin | 9900 | €192,891 | €135,875 | -€57,016 | -29.6% |
| Operating profit (loss) | 9901 | €149,351 | €128,327 | -€21,024 | -14.1% |
| Financial income | 75/76B | €2,059 | €15,815 | +€13,755 | +668% |
| Recurring financial income | 75 | €2,059 | €15,815 | +€13,755 | +668% |
| Financial charges | 65/66B | €15,387 | €17,128 | +€1,742 | +11.3% |
| Recurring financial charges | 65 | €15,387 | €17,128 | +€1,742 | +11.3% |
| Profit (loss) for the period before taxes | 9903 | €136,023 | €127,013 | -€9,010 | -6.6% |
| Income taxes | 67/77 | €29,359 | €32,054 | +€2,696 | +9.2% |
| Profit (loss) for the period | 9904 | €106,665 | €94,959 | -€11,706 | -11.0% |
| Profit (loss) for the period to be appropriated | 9905 | €106,665 | €94,959 | -€11,706 | -11.0% |
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 18 October 2026 via checked.be.