Madalie: 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.
Madalie
Largest movements
- Cash -€215,962
down €215,962 (-60.0%), from €360,208 to €144,246
mainly Debts after one year (-€240,213) and Short-term financial debts (-€40,966)
- Tangible fixed assets -€23,482
down €23,482 (-3.3%), from €709,995 to €686,513
of which Land and buildings: -€21,083
- Debts after one year -€240,213
down €240,213 (-100%), from €240,213 to €0
- Reserves +€71,427
up €71,427 (+21.5%), from €332,942 to €404,370
- Short-term financial debts -€40,966
down €40,966 (-100%), from €40,966 to €0
- Tax, wage and social debts -€34,494
down €34,494 (-87.0%), from €39,669 to €5,175
- Gross operating margin +€3,602
up €3,602 (+2.5%), from €143,077 to €146,679
- Financial charges -€2,501
down €2,501 (-32.5%), from €7,691 to €5,189
- Taxes +€1,490
up €1,490 (+4.7%), from €31,843 to €33,333
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 | €1,070,203 | €830,758 | -€239,445 | -22.4% |
| Fixed assets | 21/28 | €709,995 | €686,513 | -€23,482 | -3.3% |
| Tangible fixed assets | 22/27 | €709,995 | €686,513 | -€23,482 | -3.3% |
| Land and buildings | 22 | €704,020 | €682,937 | -€21,083 | -3.0% |
| Plant, machinery and equipment | 23 | €5,975 | €3,575 | -€2,399 | -40.2% |
| Current assets | 29/58 | €360,208 | €144,246 | -€215,962 | -60.0% |
| Cash at bank and in hand | 54/58 | €360,208 | €144,246 | -€215,962 | -60.0% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €1,070,203 | €830,758 | -€239,445 | -22.4% |
| Equity | 10/15 | €351,542 | €422,970 | +€71,427 | +20.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €332,942 | €404,370 | +€71,427 | +21.5% |
| Distributable reserves | 133 | €332,942 | €404,370 | +€71,427 | +21.5% |
| Amounts payable | 17/49 | €718,661 | €407,789 | -€310,872 | -43.3% |
| Amounts payable after more than one year | 17 | €240,213 | €0 | -€240,213 | -100% |
| Financial debts | 170/4 | €240,213 | €0 | -€240,213 | -100% |
| Amounts payable within one year | 42/48 | €478,448 | €407,789 | -€70,659 | -14.8% |
| Financial debts | 43 | €40,966 | €0 | -€40,966 | -100% |
| Other loans | 439 | €40,966 | €0 | -€40,966 | -100% |
| Taxes, remuneration and social security | 45 | €39,669 | €5,175 | -€34,494 | -87.0% |
| Taxes | 450/3 | €39,669 | €5,175 | -€34,494 | -87.0% |
| Other amounts payable | 47/48 | €397,813 | €402,613 | +€4,800 | +1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,482 | €23,482 | -€0 | 0.0% |
| Other operating charges | 640/8 | €11,827 | €13,247 | +€1,420 | +12.0% |
| Gross operating margin | 9900 | €143,077 | €146,679 | +€3,602 | +2.5% |
| Operating profit (loss) | 9901 | €107,768 | €109,949 | +€2,182 | +2.0% |
| Financial charges | 65/66B | €7,691 | €5,189 | -€2,501 | -32.5% |
| Recurring financial charges | 65 | €7,691 | €5,189 | -€2,501 | -32.5% |
| Profit (loss) for the period before taxes | 9903 | €100,077 | €104,760 | +€4,683 | +4.7% |
| Income taxes | 67/77 | €31,843 | €33,333 | +€1,490 | +4.7% |
| Profit (loss) for the period | 9904 | €68,234 | €71,427 | +€3,193 | +4.7% |
| Profit (loss) for the period to be appropriated | 9905 | €68,234 | €71,427 | +€3,193 | +4.7% |
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 1 November 2026 via checked.be.