MADAM PROPER: 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.
MADAM PROPER
Largest movements
- Receivables within one year -€10,022
down €10,022 (-18.6%), from €53,953 to €43,931
of which Trade receivables: -€11,845
- Cash -€5,372
down €5,372 (-25.1%), from €21,375 to €16,002
mainly Net result for the year (-€54,652)
- Profit (loss) carried forward -€54,652
down €54,652 (-144%), from -€38,059 to -€92,711
- Trade debts +€19,074
up €19,074 (+92.1%), from €20,702 to €39,776
- Other debts +€18,436
up €18,436 (+37.9%), from €48,706 to €67,142
- Tax, wage and social debts +€1,748
up €1,748 (+518%), from €338 to €2,085
- Gross operating margin -€58,763
down €58,763, from €24,006 to -€34,757
- Taxes +€18,203
up €18,203, from €0 to €18,203
- Other operating charges +€1,055
up €1,055 (+281%), from €375 to €1,430
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 | €75,328 | €59,933 | -€15,395 | -20.4% |
| Current assets | 29/58 | €75,328 | €59,933 | -€15,395 | -20.4% |
| Amounts receivable within one year | 40/41 | €53,953 | €43,931 | -€10,022 | -18.6% |
| Trade receivables | 40 | €53,953 | €42,108 | -€11,845 | -22.0% |
| Other amounts receivable | 41 | - | €1,823 | +€1,823 | |
| Cash at bank and in hand | 54/58 | €21,375 | €16,002 | -€5,372 | -25.1% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €75,328 | €59,933 | -€15,395 | -20.4% |
| Equity | 10/15 | €5,582 | -€49,071 | -€54,652 | |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €37,440 | €37,440 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €35,585 | €35,585 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€38,059 | -€92,711 | -€54,652 | -144% |
| Amounts payable | 17/49 | €69,746 | €109,004 | +€39,258 | +56.3% |
| Amounts payable within one year | 42/48 | €69,746 | €109,004 | +€39,258 | +56.3% |
| Trade debts | 44 | €20,702 | €39,776 | +€19,074 | +92.1% |
| Suppliers | 440/4 | €20,702 | €39,776 | +€19,074 | +92.1% |
| Taxes, remuneration and social security | 45 | €338 | €2,085 | +€1,748 | +518% |
| Taxes | 450/3 | €338 | €2,085 | +€1,748 | +518% |
| Other amounts payable | 47/48 | €48,706 | €67,142 | +€18,436 | +37.9% |
| Non-recurring operating income | 76A | €7,500 | €0 | -€7,500 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €375 | €1,430 | +€1,055 | +281% |
| Gross operating margin | 9900 | €24,006 | -€34,757 | -€58,763 | |
| Operating profit (loss) | 9901 | €23,631 | -€36,187 | -€59,818 | |
| Financial charges | 65/66B | €257 | €262 | +€5 | +2.0% |
| Recurring financial charges | 65 | €257 | €262 | +€5 | +2.0% |
| Profit (loss) for the period before taxes | 9903 | €23,374 | -€36,449 | -€59,823 | |
| Income taxes | 67/77 | €0 | €18,203 | +€18,203 | |
| Profit (loss) for the period | 9904 | €23,374 | -€54,652 | -€78,026 | |
| Profit (loss) for the period to be appropriated | 9905 | €23,374 | -€54,652 | -€78,026 |
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 19 October 2026 via checked.be.