MADDO: 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.
MADDO
Largest movements
- Cash -€1,547
down €1,547 (-83.8%), from €1,846 to €299
mainly Net result for the year (-€4,655) and Accrued charges and deferred income (-€1,790)
- Tangible fixed assets -€749
no longer reported in 2025 (was €749)
- Deferred charges and accrued income +€192
new in 2025: €192
- Trade debts +€4,952
up €4,952 (+439.4%), from €1,127 to €6,079
- Profit (loss) carried forward -€4,655
down €4,655 (-9.9%), from -€47,158 to -€51,813
- Accrued charges and deferred income -€1,790
down €1,790 (-82.1%), from €2,181 to €391
- Tax, wage and social debts -€1,453
down €1,453 (-23.0%), from €6,306 to €4,853
of which Taxes: -€2,875
- Short-term financial debts +€1,213
new in 2025: €1,213
- Gross operating margin -€7,395
down €7,395 (-64.3%), from €11,497 to €4,102
- Other operating charges -€774
down €774 (-10.5%), from €7,361 to €6,587
- Financial charges +€423
up €423 (+41.9%), from €1,010 to €1,433
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.
Cash bridge derived
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 | €2,595 | €491 | -€2,104 | -81.1% |
| Fixed assets | 21/28 | €749 | - | -€749 | |
| Tangible fixed assets | 22/27 | €749 | - | -€749 | |
| Plant, machinery and equipment | 23 | €749 | - | -€749 | |
| Current assets | 29/58 | €1,846 | €491 | -€1,355 | -73.4% |
| Cash at bank and in hand | 54/58 | €1,846 | €299 | -€1,547 | -83.8% |
| Deferred charges and accrued income | 490/1 | - | €192 | +€192 | |
| Total equity and liabilities | 10/49 | €2,595 | €491 | -€2,104 | -81.1% |
| Equity | 10/15 | -€28,508 | -€33,163 | -€4,655 | -16.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €50 | €50 | = | 0.0% |
| Non-distributable reserves | 130/1 | €50 | €50 | = | 0.0% |
| Reserves not available under the articles | 1311 | €50 | €50 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€47,158 | -€51,813 | -€4,655 | -9.9% |
| Amounts payable | 17/49 | €31,103 | €33,654 | +€2,551 | +8.2% |
| Amounts payable within one year | 42/48 | €28,922 | €33,263 | +€4,341 | +15.0% |
| Financial debts | 43 | - | €1,213 | +€1,213 | |
| Credit institutions | 430/8 | - | €1,213 | +€1,213 | |
| Trade debts | 44 | €1,127 | €6,079 | +€4,952 | +439.4% |
| Suppliers | 440/4 | €1,127 | €6,079 | +€4,952 | +439.4% |
| Taxes, remuneration and social security | 45 | €6,306 | €4,853 | -€1,453 | -23.0% |
| Taxes | 450/3 | €3,056 | €181 | -€2,875 | -94.1% |
| Remuneration and social security | 454/9 | €3,250 | €4,672 | +€1,422 | +43.8% |
| Other amounts payable | 47/48 | €21,489 | €21,118 | -€371 | -1.7% |
| Accrued charges and deferred income | 492/3 | €2,181 | €391 | -€1,790 | -82.1% |
| Non-recurring operating income | 76A | - | €2,000 | +€2,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €750 | €750 | = | 0.0% |
| Other operating charges | 640/8 | €7,361 | €6,587 | -€774 | -10.5% |
| Non-recurring operating charges | 66A | €116 | - | -€116 | |
| Gross operating margin | 9900 | €11,497 | €4,102 | -€7,395 | -64.3% |
| Operating profit (loss) | 9901 | €3,270 | -€3,235 | -€6,505 | |
| Financial income | 75/76B | - | €13 | +€13 | |
| Recurring financial income | 75 | - | €13 | +€13 | |
| Financial charges | 65/66B | €1,010 | €1,433 | +€423 | +41.9% |
| Recurring financial charges | 65 | €1,010 | €1,433 | +€423 | +41.9% |
| Profit (loss) for the period before taxes | 9903 | €2,260 | -€4,655 | -€6,915 | |
| Profit (loss) for the period | 9904 | €2,260 | -€4,655 | -€6,915 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,260 | -€4,655 | -€6,915 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.