MADE Advisory: 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.
MADE Advisory
Largest movements
- Deferred charges and accrued income -€28,026
down €28,026 (-97.1%), from €28,858 to €832
- Receivables within one year +€18,683
up €18,683 (+42.3%), from €44,182 to €62,865
of which Trade receivables: +€20,127
- Tangible fixed assets -€6,712
down €6,712 (-24.0%), from €27,953 to €21,241
of which Furniture and vehicles: -€5,566
- Other debts -€28,198
down €28,198 (-55.1%), from €51,188 to €22,989
- Reserves +€11,361
up €11,361 (+16.3%), from €69,678 to €81,039
- Trade debts +€1,656
new in 2025: €1,656
- Gross operating margin +€34,167
up €34,167 (+69.9%), from €48,901 to €83,068
- Taxes +€12,045
up €12,045 (+306.3%), from €3,932 to €15,978
- Financial income -€5,625
down €5,625 (-98.0%), from €5,740 to €115
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 | €139,466 | €124,295 | -€15,171 | -10.9% |
| Fixed assets | 21/28 | €27,953 | €21,241 | -€6,712 | -24.0% |
| Tangible fixed assets | 22/27 | €27,953 | €21,241 | -€6,712 | -24.0% |
| Plant, machinery and equipment | 23 | €2,315 | €1,169 | -€1,146 | -49.5% |
| Furniture and vehicles | 24 | €25,638 | €20,072 | -€5,566 | -21.7% |
| Current assets | 29/58 | €111,513 | €103,054 | -€8,459 | -7.6% |
| Amounts receivable after more than one year | 29 | €15,055 | €15,055 | = | 0.0% |
| Other amounts receivable | 291 | €15,055 | €15,055 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €44,182 | €62,865 | +€18,683 | +42.3% |
| Trade receivables | 40 | €19,808 | €39,935 | +€20,127 | +101.6% |
| Other amounts receivable | 41 | €24,374 | €22,930 | -€1,444 | -5.9% |
| Cash at bank and in hand | 54/58 | €23,419 | €24,303 | +€883 | +3.8% |
| Deferred charges and accrued income | 490/1 | €28,858 | €832 | -€28,026 | -97.1% |
| Total equity and liabilities | 10/49 | €139,466 | €124,295 | -€15,171 | -10.9% |
| Equity | 10/15 | €88,278 | €99,639 | +€11,361 | +12.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €69,678 | €81,039 | +€11,361 | +16.3% |
| Distributable reserves | 133 | €69,678 | €81,039 | +€11,361 | +16.3% |
| Amounts payable | 17/49 | €51,188 | €24,656 | -€26,532 | -51.8% |
| Amounts payable within one year | 42/48 | €51,188 | €24,656 | -€26,532 | -51.8% |
| Trade debts | 44 | - | €1,656 | +€1,656 | |
| Suppliers | 440/4 | - | €1,656 | +€1,656 | |
| Taxes, remuneration and social security | 45 | - | €10 | +€10 | |
| Taxes | 450/3 | - | €10 | +€10 | |
| Other amounts payable | 47/48 | €51,188 | €22,989 | -€28,198 | -55.1% |
| Non-recurring operating income | 76A | €34,582 | - | -€34,582 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,094 | €10,299 | +€204 | +2.0% |
| Other operating charges | 640/8 | €513 | €628 | +€115 | +22.4% |
| Non-recurring operating charges | 66A | €34,583 | - | -€34,583 | |
| Gross operating margin | 9900 | €48,901 | €83,068 | +€34,167 | +69.9% |
| Operating profit (loss) | 9901 | €3,711 | €72,141 | +€68,431 | +1844.1% |
| Financial income | 75/76B | €5,740 | €115 | -€5,625 | -98.0% |
| Recurring financial income | 75 | €5,740 | €115 | -€5,625 | -98.0% |
| Financial charges | 65/66B | €496 | €240 | -€256 | -51.6% |
| Recurring financial charges | 65 | €496 | €240 | -€256 | -51.6% |
| Profit (loss) for the period before taxes | 9903 | €8,955 | €72,016 | +€63,061 | +704.2% |
| Income taxes | 67/77 | €3,932 | €15,978 | +€12,045 | +306.3% |
| Profit (loss) for the period | 9904 | €5,023 | €56,039 | +€51,016 | +1015.7% |
| Profit (loss) for the period to be appropriated | 9905 | €5,023 | €56,039 | +€51,016 | +1015.7% |
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 6 October 2026 via checked.be.