MAD MAN: 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 MAN
Largest movements
- Cash +€5,478
up €5,478 (+66.0%), from €8,295 to €13,772
mainly Other debts (+€3,338) and Net result for the year (+€2,722)
- Tangible fixed assets -€2,238
down €2,238 (-19.6%), from €11,400 to €9,162
of which Furniture and vehicles: -€2,097
- Receivables within one year -€2,086
down €2,086 (-17.4%), from €11,996 to €9,910
of which Other amounts receivable: -€2,794
- Other debts +€3,338
up €3,338 (+75.1%), from €4,441 to €7,779
- Trade debts -€1,953
down €1,953 (-11.1%), from €17,560 to €15,607
- Tax, wage and social debts -€371
down €371 (-3.7%), from €10,022 to €9,651
- Other operating charges +€716
up €716 (+184.8%), from €387 to €1,103
- Financial charges +€677
up €677 (+103.0%), from €657 to €1,334
- Gross operating margin +€359
up €359 (+4.3%), from €8,331 to €8,690
- Taxes +€337
up €337 (+17.1%), from €1,975 to €2,312
- Financial income -€297
no longer reported in 2025 (was €297)
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 | €32,296 | €33,137 | +€841 | +2.6% |
| Fixed assets | 21/28 | €11,400 | €9,162 | -€2,238 | -19.6% |
| Tangible fixed assets | 22/27 | €11,400 | €9,162 | -€2,238 | -19.6% |
| Plant, machinery and equipment | 23 | €328 | €187 | -€141 | -43.0% |
| Furniture and vehicles | 24 | €3,835 | €1,738 | -€2,097 | -54.7% |
| Other tangible fixed assets | 26 | €7,237 | €7,237 | = | 0.0% |
| Current assets | 29/58 | €20,896 | €23,975 | +€3,079 | +14.7% |
| Amounts receivable within one year | 40/41 | €11,996 | €9,910 | -€2,086 | -17.4% |
| Trade receivables | 40 | €9,202 | €9,910 | +€708 | +7.7% |
| Other amounts receivable | 41 | €2,794 | - | -€2,794 | |
| Cash at bank and in hand | 54/58 | €8,295 | €13,772 | +€5,478 | +66.0% |
| Deferred charges and accrued income | 490/1 | €606 | €292 | -€313 | -51.7% |
| Total equity and liabilities | 10/49 | €32,296 | €33,137 | +€841 | +2.6% |
| Equity | 10/15 | €100 | €100 | = | 0.0% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Amounts payable | 17/49 | €32,196 | €33,037 | +€841 | +2.6% |
| Amounts payable within one year | 42/48 | €32,024 | €33,037 | +€1,014 | +3.2% |
| Trade debts | 44 | €17,560 | €15,607 | -€1,953 | -11.1% |
| Suppliers | 440/4 | €17,560 | €15,607 | -€1,953 | -11.1% |
| Taxes, remuneration and social security | 45 | €10,022 | €9,651 | -€371 | -3.7% |
| Taxes | 450/3 | €10,022 | €9,651 | -€371 | -3.7% |
| Other amounts payable | 47/48 | €4,441 | €7,779 | +€3,338 | +75.1% |
| Accrued charges and deferred income | 492/3 | €173 | - | -€173 | |
| Non-recurring operating income | 76A | €3,160 | €38 | -€3,121 | -98.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,168 | €1,219 | +€51 | +4.4% |
| Other operating charges | 640/8 | €387 | €1,103 | +€716 | +184.8% |
| Gross operating margin | 9900 | €8,331 | €8,690 | +€359 | +4.3% |
| Operating profit (loss) | 9901 | €6,776 | €6,368 | -€408 | -6.0% |
| Financial income | 75/76B | €297 | - | -€297 | |
| Recurring financial income | 75 | €297 | - | -€297 | |
| Financial charges | 65/66B | €657 | €1,334 | +€677 | +103.0% |
| Recurring financial charges | 65 | €657 | €1,334 | +€677 | +103.0% |
| Profit (loss) for the period before taxes | 9903 | €6,416 | €5,034 | -€1,382 | -21.5% |
| Income taxes | 67/77 | €1,975 | €2,312 | +€337 | +17.1% |
| Profit (loss) for the period | 9904 | €4,441 | €2,722 | -€1,720 | -38.7% |
| Profit (loss) for the period to be appropriated | 9905 | €4,441 | €2,722 | -€1,720 | -38.7% |
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 11 October 2026 via checked.be.