MADDOX: 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.
MADDOX
Largest movements
- Receivables within one year +€11,878
up €11,878 (+65.3%), from €18,180 to €30,058
of which Other amounts receivable: +€15,365
- Cash +€4,704
up €4,704 (+87.6%), from €5,371 to €10,075
mainly Net result for the year (+€12,372) and Tax, wage and social debts (+€6,867)
- Deferred charges and accrued income +€1,359
up €1,359 (+194.9%), from €697 to €2,056
- Tangible fixed assets +€876
up €876 (+233.9%), from €375 to €1,251
- Reserves +€12,372
up €12,372 (+144.4%), from €8,570 to €20,942
- Tax, wage and social debts +€6,867
up €6,867 (+84.3%), from €8,147 to €15,014
of which Taxes: +€4,082
- Trade debts -€753
down €753 (-15.3%), from €4,918 to €4,165
- Financial income +€873
up €873 (+889.5%), from €98 to €971
- Depreciation +€368
up €368 (+62.5%), from €589 to €957
- Financial charges -€287
down €287 (-7.9%), from €3,623 to €3,336
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 | €25,796 | €44,283 | +€18,487 | +71.7% |
| Fixed assets | 21/28 | €1,548 | €2,094 | +€546 | +35.3% |
| Intangible fixed assets | 21 | €1,174 | €844 | -€330 | -28.1% |
| Tangible fixed assets | 22/27 | €375 | €1,251 | +€876 | +233.9% |
| Furniture and vehicles | 24 | €375 | €1,251 | +€876 | +233.9% |
| Current assets | 29/58 | €24,248 | €42,188 | +€17,940 | +74.0% |
| Amounts receivable within one year | 40/41 | €18,180 | €30,058 | +€11,878 | +65.3% |
| Trade receivables | 40 | €9,586 | €6,098 | -€3,487 | -36.4% |
| Other amounts receivable | 41 | €8,594 | €23,959 | +€15,365 | +178.8% |
| Cash at bank and in hand | 54/58 | €5,371 | €10,075 | +€4,704 | +87.6% |
| Deferred charges and accrued income | 490/1 | €697 | €2,056 | +€1,359 | +194.9% |
| Total equity and liabilities | 10/49 | €25,796 | €44,283 | +€18,487 | +71.7% |
| Equity | 10/15 | €11,570 | €23,942 | +€12,372 | +106.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €8,570 | €20,942 | +€12,372 | +144.4% |
| Distributable reserves | 133 | €8,570 | €20,942 | +€12,372 | +144.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €14,226 | €20,341 | +€6,114 | +43.0% |
| Amounts payable within one year | 42/48 | €14,226 | €20,341 | +€6,114 | +43.0% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €4,918 | €4,165 | -€753 | -15.3% |
| Suppliers | 440/4 | €4,918 | €4,165 | -€753 | -15.3% |
| Taxes, remuneration and social security | 45 | €8,147 | €15,014 | +€6,867 | +84.3% |
| Taxes | 450/3 | €8,147 | €12,229 | +€4,082 | +50.1% |
| Remuneration and social security | 454/9 | - | €2,785 | +€2,785 | |
| Other amounts payable | 47/48 | €1,162 | €1,162 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €589 | €957 | +€368 | +62.5% |
| Other operating charges | 640/8 | €695 | €813 | +€119 | +17.1% |
| Gross operating margin | 9900 | €21,006 | €21,212 | +€207 | +1.0% |
| Operating profit (loss) | 9901 | €19,722 | €19,443 | -€280 | -1.4% |
| Financial income | 75/76B | €98 | €971 | +€873 | +889.5% |
| Recurring financial income | 75 | €98 | €971 | +€873 | +889.5% |
| Financial charges | 65/66B | €3,623 | €3,336 | -€287 | -7.9% |
| Recurring financial charges | 65 | €3,623 | €3,336 | -€287 | -7.9% |
| Profit (loss) for the period before taxes | 9903 | €16,197 | €17,078 | +€881 | +5.4% |
| Income taxes | 67/77 | €4,879 | €4,706 | -€173 | -3.5% |
| Profit (loss) for the period | 9904 | €11,319 | €12,372 | +€1,054 | +9.3% |
| Profit (loss) for the period to be appropriated | 9905 | €11,319 | €12,372 | +€1,054 | +9.3% |
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 30 September 2026 via checked.be.