Mad Project: 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 Project
Largest movements
- Tangible fixed assets -€7,535
down €7,535 (-29.6%), from €25,498 to €17,962
- Cash +€3,979
up €3,979 (+32.3%), from €12,330 to €16,309
mainly Depreciation (+€7,535) and Net result for the year (+€4,690)
- Stocks and contracts +€2,000
new in 2024: €2,000
- Debts after one year -€5,451
down €5,451 (-45.8%), from €11,912 to €6,462
- Profit (loss) carried forward +€4,690
up €4,690, from -€3,446 to €1,244
- Trade debts -€637
down €637 (-36.9%), from €1,728 to €1,091
- Staff costs -€3,957
down €3,957, from €3,891 to -€66
- Gross operating margin -€1,255
down €1,255 (-8.9%), from €14,146 to €12,891
- Financial charges +€542
up €542 (+284.6%), from €190 to €732
- Other operating charges -€364
no longer reported in 2024 (was €364)
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €37,828 | €36,272 | -€1,556 | -4.1% |
| Fixed assets | 21/28 | €25,498 | €17,962 | -€7,535 | -29.6% |
| Tangible fixed assets | 22/27 | €25,498 | €17,962 | -€7,535 | -29.6% |
| Furniture and vehicles | 24 | €25,498 | €17,962 | -€7,535 | -29.6% |
| Current assets | 29/58 | €12,330 | €18,309 | +€5,979 | +48.5% |
| Stocks and contracts in progress | 3 | - | €2,000 | +€2,000 | |
| Stocks | 30/36 | - | €2,000 | +€2,000 | |
| Cash at bank and in hand | 54/58 | €12,330 | €16,309 | +€3,979 | +32.3% |
| Total equity and liabilities | 10/49 | €37,828 | €36,272 | -€1,556 | -4.1% |
| Equity | 10/15 | -€3,445 | €1,245 | +€4,690 | |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,446 | €1,244 | +€4,690 | |
| Amounts payable | 17/49 | €41,272 | €35,026 | -€6,246 | -15.1% |
| Amounts payable after more than one year | 17 | €11,912 | €6,462 | -€5,451 | -45.8% |
| Financial debts | 170/4 | €11,912 | €6,462 | -€5,451 | -45.8% |
| Amounts payable within one year | 42/48 | €29,360 | €28,564 | -€796 | -2.7% |
| Current portion of amounts payable after more than one year | 42 | €5,488 | €5,451 | -€38 | -0.7% |
| Trade debts | 44 | €1,728 | €1,091 | -€637 | -36.9% |
| Suppliers | 440/4 | €1,728 | €1,091 | -€637 | -36.9% |
| Taxes, remuneration and social security | 45 | €49 | €292 | +€243 | +495.9% |
| Taxes | 450/3 | €49 | €292 | +€243 | +495.9% |
| Other amounts payable | 47/48 | €22,094 | €21,731 | -€364 | -1.6% |
| Remuneration, social security and pensions | 62 | €3,891 | -€66 | -€3,957 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,535 | €7,535 | = | 0.0% |
| Other operating charges | 640/8 | €364 | - | -€364 | |
| Gross operating margin | 9900 | €14,146 | €12,891 | -€1,255 | -8.9% |
| Operating profit (loss) | 9901 | €2,356 | €5,423 | +€3,067 | +130.2% |
| Financial charges | 65/66B | €190 | €732 | +€542 | +284.6% |
| Recurring financial charges | 65 | €190 | €732 | +€542 | +284.6% |
| Profit (loss) for the period before taxes | 9903 | €2,165 | €4,690 | +€2,525 | +116.6% |
| Profit (loss) for the period | 9904 | €2,165 | €4,690 | +€2,525 | +116.6% |
| Profit (loss) for the period to be appropriated | 9905 | €2,165 | €4,690 | +€2,525 | +116.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.