Maddy Riga: 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.
Maddy Riga
Largest movements
- Cash +€49,369
up €49,369 (+90.5%), from €54,570 to €103,939
mainly Net result for the year (+€51,324) and Depreciation (+€36,213)
- Tangible fixed assets -€27,985
down €27,985 (-15.2%), from €184,426 to €156,441
of which Furniture and vehicles: -€20,131
- Receivables within one year -€19,592
down €19,592 (-49.1%), from €39,880 to €20,289
of which Trade receivables: -€14,949
- Profit (loss) carried forward +€46,998
up €46,998 (+76.2%), from €61,644 to €108,642
- Debts after one year -€30,430
down €30,430 (-44.1%), from €69,039 to €38,609
- Current portion of long-term debt -€12,183
down €12,183 (-22.4%), from €54,345 to €42,162
- Tax, wage and social debts +€10,234
up €10,234 (+39.1%), from €26,177 to €36,411
of which Taxes: +€7,000
- Other debts -€8,915
down €8,915 (-18.7%), from €47,576 to €38,661
- Gross operating margin +€59,922
up €59,922 (+34.3%), from €174,833 to €234,755
- Taxes +€20,879
up €20,879 (+556%), from €3,753 to €24,632
- Other operating charges -€10,879
down €10,879 (-67.2%), from €16,194 to €5,315
- Staff costs +€8,181
up €8,181 (+8.0%), from €102,371 to €110,552
- Depreciation -€2,587
down €2,587 (-6.7%), from €38,800 to €36,213
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 | €282,903 | €282,998 | +€95 | 0.0% |
| Fixed assets | 21/28 | €184,976 | €156,991 | -€27,985 | -15.1% |
| Tangible fixed assets | 22/27 | €184,426 | €156,441 | -€27,985 | -15.2% |
| Land and buildings | 22 | €120,063 | €115,029 | -€5,034 | -4.2% |
| Plant, machinery and equipment | 23 | €5,009 | €2,189 | -€2,820 | -56.3% |
| Furniture and vehicles | 24 | €59,354 | €39,224 | -€20,131 | -33.9% |
| Financial fixed assets | 28 | €550 | €550 | = | 0.0% |
| Current assets | 29/58 | €97,926 | €126,006 | +€28,080 | +28.7% |
| Amounts receivable within one year | 40/41 | €39,880 | €20,289 | -€19,592 | -49.1% |
| Trade receivables | 40 | €34,920 | €19,971 | -€14,949 | -42.8% |
| Other amounts receivable | 41 | €4,960 | €318 | -€4,643 | -93.6% |
| Cash at bank and in hand | 54/58 | €54,570 | €103,939 | +€49,369 | +90.5% |
| Deferred charges and accrued income | 490/1 | €3,477 | €1,779 | -€1,698 | -48.8% |
| Total equity and liabilities | 10/49 | €282,903 | €282,998 | +€95 | 0.0% |
| Equity | 10/15 | €78,709 | €125,707 | +€46,998 | +59.7% |
| Contributions | 10/11 | €8,065 | €8,065 | = | 0.0% |
| Capital | 10 | €8,065 | €8,065 | = | 0.0% |
| Issued capital | 100 | €8,065 | €8,065 | = | 0.0% |
| Reserves | 13 | €9,000 | €9,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €9,000 | €9,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €61,644 | €108,642 | +€46,998 | +76.2% |
| Amounts payable | 17/49 | €204,194 | €157,290 | -€46,904 | -23.0% |
| Amounts payable after more than one year | 17 | €69,039 | €38,609 | -€30,430 | -44.1% |
| Financial debts | 170/4 | €69,039 | €38,609 | -€30,430 | -44.1% |
| Amounts payable within one year | 42/48 | €130,655 | €118,681 | -€11,974 | -9.2% |
| Current portion of amounts payable after more than one year | 42 | €54,345 | €42,162 | -€12,183 | -22.4% |
| Trade debts | 44 | €2,557 | €1,447 | -€1,109 | -43.4% |
| Suppliers | 440/4 | €2,557 | €1,447 | -€1,109 | -43.4% |
| Taxes, remuneration and social security | 45 | €26,177 | €36,411 | +€10,234 | +39.1% |
| Taxes | 450/3 | €13,303 | €20,303 | +€7,000 | +52.6% |
| Remuneration and social security | 454/9 | €12,874 | €16,108 | +€3,234 | +25.1% |
| Other amounts payable | 47/48 | €47,576 | €38,661 | -€8,915 | -18.7% |
| Accrued charges and deferred income | 492/3 | €4,500 | - | -€4,500 | |
| Remuneration, social security and pensions | 62 | €102,371 | €110,552 | +€8,181 | +8.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,800 | €36,213 | -€2,587 | -6.7% |
| Other operating charges | 640/8 | €16,194 | €5,315 | -€10,879 | -67.2% |
| Non-recurring operating charges | 66A | - | €304 | +€304 | |
| Gross operating margin | 9900 | €174,833 | €234,755 | +€59,922 | +34.3% |
| Operating profit (loss) | 9901 | €17,469 | €82,371 | +€64,902 | +372% |
| Financial income | 75/76B | €1,014 | - | -€1,014 | |
| Recurring financial income | 75 | €1,014 | - | -€1,014 | |
| Financial charges | 65/66B | €8,819 | €6,416 | -€2,403 | -27.3% |
| Recurring financial charges | 65 | €8,819 | €6,416 | -€2,403 | -27.3% |
| Profit (loss) for the period before taxes | 9903 | €9,664 | €75,956 | +€66,291 | +686% |
| Income taxes | 67/77 | €3,753 | €24,632 | +€20,879 | +556% |
| Profit (loss) for the period | 9904 | €5,912 | €51,324 | +€45,412 | +768% |
| Profit (loss) for the period to be appropriated | 9905 | €5,912 | €51,324 | +€45,412 | +768% |
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 16 October 2026 via checked.be.