MAD-ness: 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-ness
Largest movements
- Stocks and contracts -€15,000
down €15,000 (-36.6%), from €41,012 to €26,012
- Cash +€5,784
up €5,784 (+224.6%), from €2,575 to €8,359
mainly Stocks and contracts (+€15,000) and Receivables within one year (+€4,358)
- Receivables within one year -€4,358
down €4,358 (-76.0%), from €5,738 to €1,380
of which Trade receivables: -€4,460
- Trade debts -€11,198
down €11,198 (-96.1%), from €11,658 to €460
- Other debts -€2,319
down €2,319 (-6.6%), from €35,349 to €33,029
- Tax, wage and social debts -€771
down €771 (-43.2%), from €1,784 to €1,013
- Gross operating margin -€15,476
down €15,476 (-92.1%), from €16,805 to €1,329
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 | €50,465 | €36,439 | -€14,026 | -27.8% |
| Formation expenses | 20 | €1,141 | €688 | -€452 | -39.6% |
| Current assets | 29/58 | €49,325 | €35,750 | -€13,574 | -27.5% |
| Stocks and contracts in progress | 3 | €41,012 | €26,012 | -€15,000 | -36.6% |
| Stocks | 30/36 | €41,012 | €26,012 | -€15,000 | -36.6% |
| Amounts receivable within one year | 40/41 | €5,738 | €1,380 | -€4,358 | -76.0% |
| Trade receivables | 40 | €5,584 | €1,123 | -€4,460 | -79.9% |
| Other amounts receivable | 41 | €154 | €256 | +€102 | +66.4% |
| Cash at bank and in hand | 54/58 | €2,575 | €8,359 | +€5,784 | +224.6% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €50,465 | €36,439 | -€14,026 | -27.8% |
| Equity | 10/15 | €1,675 | €1,937 | +€262 | +15.6% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€325 | -€63 | +€262 | +80.6% |
| Amounts payable | 17/49 | €48,790 | €34,502 | -€14,288 | -29.3% |
| Amounts payable within one year | 42/48 | €48,790 | €34,502 | -€14,288 | -29.3% |
| Trade debts | 44 | €11,658 | €460 | -€11,198 | -96.1% |
| Suppliers | 440/4 | €11,658 | €460 | -€11,198 | -96.1% |
| Taxes, remuneration and social security | 45 | €1,784 | €1,013 | -€771 | -43.2% |
| Taxes | 450/3 | €1,784 | €1,013 | -€771 | -43.2% |
| Other amounts payable | 47/48 | €35,349 | €33,029 | -€2,319 | -6.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €452 | €452 | = | 0.0% |
| Other operating charges | 640/8 | €611 | €513 | -€98 | -16.0% |
| Gross operating margin | 9900 | €16,805 | €1,329 | -€15,476 | -92.1% |
| Operating profit (loss) | 9901 | €15,741 | €363 | -€15,378 | -97.7% |
| Financial income | 75/76B | €12 | €0 | -€12 | -100.0% |
| Recurring financial income | 75 | €12 | €0 | -€12 | -100.0% |
| Financial charges | 65/66B | €94 | €101 | +€8 | +8.0% |
| Recurring financial charges | 65 | €94 | €101 | +€8 | +8.0% |
| Profit (loss) for the period before taxes | 9903 | €15,659 | €262 | -€15,397 | -98.3% |
| Profit (loss) for the period | 9904 | €15,659 | €262 | -€15,397 | -98.3% |
| Profit (loss) for the period to be appropriated | 9905 | €15,659 | €262 | -€15,397 | -98.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.