Madd Trading: 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.
Madd Trading
Largest movements
- Receivables within one year +€67,194
up €67,194 (+350%), from €19,214 to €86,408
of which Trade receivables: +€67,085
- Stocks and contracts +€64,143
up €64,143 (+301%), from €21,282 to €85,426
- Cash +€26,727
up €26,727 (+63.1%), from €42,325 to €69,052
mainly Trade debts (+€103,163) and Current portion of long-term debt (+€50,000)
- Deferred charges and accrued income +€11,369
new in 2025: €11,369
- Tangible fixed assets +€7,017
up €7,017 (+124%), from €5,676 to €12,693
of which Furniture and vehicles: +€8,290
- Trade debts +€103,163
up €103,163 (+675%), from €15,278 to €118,440
- Current portion of long-term debt +€50,000
new in 2025: €50,000
- Reserves +€10,000
up €10,000 (+21.2%), from €47,229 to €57,229
- Tax, wage and social debts +€8,808
up €8,808 (+237%), from €3,710 to €12,518
- Other debts +€4,518
up €4,518 (+284%), from €1,588 to €6,107
- Gross operating margin +€14,196
up €14,196 (+350%), from €4,053 to €18,249
- Taxes +€3,284
up €3,284 (+392%), from €837 to €4,120
- Financial charges +€997
up €997 (+829%), from €120 to €1,117
- Financial income +€373
up €373 (+646%), from €58 to €431
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 | €88,497 | €264,948 | +€176,450 | +199% |
| Fixed assets | 21/28 | €5,676 | €12,693 | +€7,017 | +124% |
| Tangible fixed assets | 22/27 | €5,676 | €12,693 | +€7,017 | +124% |
| Land and buildings | 22 | €4,217 | €3,431 | -€786 | -18.6% |
| Plant, machinery and equipment | 23 | €1,459 | €972 | -€487 | -33.4% |
| Furniture and vehicles | 24 | - | €8,290 | +€8,290 | |
| Current assets | 29/58 | €82,821 | €252,254 | +€169,433 | +205% |
| Stocks and contracts in progress | 3 | €21,282 | €85,426 | +€64,143 | +301% |
| Stocks | 30/36 | €21,282 | €85,426 | +€64,143 | +301% |
| Amounts receivable within one year | 40/41 | €19,214 | €86,408 | +€67,194 | +350% |
| Trade receivables | 40 | €19,214 | €86,298 | +€67,085 | +349% |
| Other amounts receivable | 41 | - | €109 | +€109 | |
| Cash at bank and in hand | 54/58 | €42,325 | €69,052 | +€26,727 | +63.1% |
| Deferred charges and accrued income | 490/1 | - | €11,369 | +€11,369 | |
| Total equity and liabilities | 10/49 | €88,497 | €264,948 | +€176,450 | +199% |
| Equity | 10/15 | €67,331 | €77,588 | +€10,257 | +15.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €47,229 | €57,229 | +€10,000 | +21.2% |
| Distributable reserves | 133 | €47,229 | €57,229 | +€10,000 | +21.2% |
| Profit (loss) carried forward | 14 | €102 | €359 | +€257 | +252% |
| Amounts payable | 17/49 | €21,166 | €187,360 | +€166,194 | +785% |
| Amounts payable within one year | 42/48 | €20,576 | €187,065 | +€166,489 | +809% |
| Current portion of amounts payable after more than one year | 42 | - | €50,000 | +€50,000 | |
| Trade debts | 44 | €15,278 | €118,440 | +€103,163 | +675% |
| Suppliers | 440/4 | €15,278 | €118,440 | +€103,163 | +675% |
| Taxes, remuneration and social security | 45 | €3,710 | €12,518 | +€8,808 | +237% |
| Taxes | 450/3 | €3,710 | €12,518 | +€8,808 | +237% |
| Other amounts payable | 47/48 | €1,588 | €6,107 | +€4,518 | +284% |
| Accrued charges and deferred income | 492/3 | €590 | €295 | -€295 | -50.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,273 | €1,443 | +€170 | +13.4% |
| Other operating charges | 640/8 | €1,779 | €1,743 | -€36 | -2.0% |
| Gross operating margin | 9900 | €4,053 | €18,249 | +€14,196 | +350% |
| Operating profit (loss) | 9901 | €1,001 | €15,063 | +€14,062 | +1,404% |
| Financial income | 75/76B | €58 | €431 | +€373 | +646% |
| Recurring financial income | 75 | €58 | €431 | +€373 | +646% |
| Financial charges | 65/66B | €120 | €1,117 | +€997 | +829% |
| Recurring financial charges | 65 | €120 | €1,117 | +€997 | +829% |
| Profit (loss) for the period before taxes | 9903 | €939 | €14,377 | +€13,438 | +1,431% |
| Income taxes | 67/77 | €837 | €4,120 | +€3,284 | +392% |
| Profit (loss) for the period | 9904 | €102 | €10,257 | +€10,155 | +9,963% |
| Profit (loss) for the period to be appropriated | 9905 | €102 | €10,257 | +€10,155 | +9,963% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.