MADDELEIN: 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.
MADDELEIN
Largest movements
- Tangible fixed assets -€142,041
down €142,041 (-69.9%), from €203,241 to €61,200
of which Furniture and vehicles: -€71,100
- Receivables within one year -€93,458
down €93,458 (-55.7%), from €167,833 to €74,375
of which Trade receivables: -€93,501
- Stocks and contracts -€83,000
down €83,000 (-36.4%), from €228,000 to €145,000
- Debts after one year -€235,051
down €235,051 (-54.3%), from €433,222 to €198,171
- Other debts -€84,599
down €84,599 (-50.8%), from €166,413 to €81,815
- Gross operating margin +€87,444
up €87,444 (+148%), from €59,056 to €146,500
- Depreciation +€84,384
up €84,384 (+146%), from €57,657 to €142,041
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 | €599,257 | €280,832 | -€318,425 | -53.1% |
| Fixed assets | 21/28 | €203,241 | €61,200 | -€142,041 | -69.9% |
| Tangible fixed assets | 22/27 | €203,241 | €61,200 | -€142,041 | -69.9% |
| Land and buildings | 22 | €18,549 | - | -€18,549 | |
| Plant, machinery and equipment | 23 | €52,392 | - | -€52,392 | |
| Furniture and vehicles | 24 | €132,300 | €61,200 | -€71,100 | -53.7% |
| Current assets | 29/58 | €396,016 | €219,632 | -€176,384 | -44.5% |
| Stocks and contracts in progress | 3 | €228,000 | €145,000 | -€83,000 | -36.4% |
| Contracts in progress | 37 | €228,000 | €145,000 | -€83,000 | -36.4% |
| Amounts receivable within one year | 40/41 | €167,833 | €74,375 | -€93,458 | -55.7% |
| Trade receivables | 40 | €167,576 | €74,075 | -€93,501 | -55.8% |
| Other amounts receivable | 41 | €258 | €301 | +€43 | +16.7% |
| Cash at bank and in hand | 54/58 | €183 | €257 | +€74 | +40.2% |
| Total equity and liabilities | 10/49 | €599,257 | €280,832 | -€318,425 | -53.1% |
| Equity | 10/15 | -€7,134 | -€3,178 | +€3,956 | +55.5% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €686,314 | €686,314 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €8,573 | €8,573 | = | 0.0% |
| Distributable reserves | 133 | €675,882 | €675,882 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€712,040 | -€708,084 | +€3,956 | +0.6% |
| Amounts payable | 17/49 | €606,391 | €284,010 | -€322,381 | -53.2% |
| Amounts payable after more than one year | 17 | €433,222 | €198,171 | -€235,051 | -54.3% |
| Financial debts | 170/4 | €433,222 | €198,171 | -€235,051 | -54.3% |
| Amounts payable within one year | 42/48 | €173,170 | €85,839 | -€87,330 | -50.4% |
| Trade debts | 44 | €6,756 | €4,010 | -€2,746 | -40.6% |
| Suppliers | 440/4 | €6,756 | €4,010 | -€2,746 | -40.6% |
| Taxes, remuneration and social security | 45 | - | €14 | +€14 | |
| Taxes | 450/3 | - | €14 | +€14 | |
| Other amounts payable | 47/48 | €166,413 | €81,815 | -€84,599 | -50.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,657 | €142,041 | +€84,384 | +146% |
| Other operating charges | 640/8 | €267 | €398 | +€132 | +49.4% |
| Gross operating margin | 9900 | €59,056 | €146,500 | +€87,444 | +148% |
| Operating profit (loss) | 9901 | €1,132 | €4,060 | +€2,928 | +259% |
| Financial charges | 65/66B | €521 | €104 | -€417 | -80.0% |
| Recurring financial charges | 65 | €521 | €104 | -€417 | -80.0% |
| Profit (loss) for the period before taxes | 9903 | €611 | €3,956 | +€3,345 | +548% |
| Profit (loss) for the period | 9904 | €611 | €3,956 | +€3,345 | +548% |
| Profit (loss) for the period to be appropriated | 9905 | €611 | €3,956 | +€3,345 | +548% |
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 22 October 2026 via checked.be.