MADE-IT: 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.
MADE-IT
Largest movements
- Cash -€23,021
down €23,021 (-54.7%), from €42,053 to €19,032
mainly Receivables within one year (-€20,295) and Other debts (-€14,066)
- Receivables within one year +€20,295
up €20,295 (+90.4%), from €22,450 to €42,745
of which Other amounts receivable: +€23,463
- Tangible fixed assets -€16,439
down €16,439 (-25.3%), from €65,000 to €48,561
of which Leasing and similar rights: -€16,970
- Financial fixed assets +€10,000
up €10,000 (+65.1%), from €15,354 to €25,354
- Receivables after one year -€9,311
down €9,311 (-24.8%), from €37,515 to €28,204
- Other debts -€14,066
no longer reported in 2025 (was €14,066)
- Profit (loss) carried forward +€10,477
up €10,477 (+10.3%), from €101,867 to €112,344
- Debts after one year -€10,080
down €10,080 (-24.9%), from €40,527 to €30,447
- Tax, wage and social debts -€4,854
down €4,854 (-51.9%), from €9,349 to €4,495
of which Taxes: -€3,054
- Current portion of long-term debt -€4,037
down €4,037 (-27.8%), from €14,540 to €10,503
- Depreciation +€9,494
up €9,494 (+101.2%), from €9,385 to €18,879
- Gross operating margin -€4,119
down €4,119 (-10.4%), from €39,714 to €35,596
- Taxes -€3,013
down €3,013 (-40.1%), from €7,508 to €4,495
- Other operating charges +€1,295
new in 2025: €1,295
- Financial charges +€1,207
up €1,207 (+147.4%), from €819 to €2,026
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 | €187,011 | €167,258 | -€19,753 | -10.6% |
| Fixed assets | 21/28 | €80,354 | €73,915 | -€6,439 | -8.0% |
| Tangible fixed assets | 22/27 | €65,000 | €48,561 | -€16,439 | -25.3% |
| Plant, machinery and equipment | 23 | - | €839 | +€839 | |
| Furniture and vehicles | 24 | €4,486 | €4,178 | -€308 | -6.9% |
| Leasing and similar rights | 25 | €60,514 | €43,544 | -€16,970 | -28.0% |
| Financial fixed assets | 28 | €15,354 | €25,354 | +€10,000 | +65.1% |
| Current assets | 29/58 | €106,657 | €93,343 | -€13,314 | -12.5% |
| Amounts receivable after more than one year | 29 | €37,515 | €28,204 | -€9,311 | -24.8% |
| Trade receivables | 290 | €37,515 | €28,204 | -€9,311 | -24.8% |
| Amounts receivable within one year | 40/41 | €22,450 | €42,745 | +€20,295 | +90.4% |
| Trade receivables | 40 | €13,146 | €9,979 | -€3,168 | -24.1% |
| Other amounts receivable | 41 | €9,304 | €32,767 | +€23,463 | +252.2% |
| Current investments | 50/53 | €2,500 | €2,500 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €42,053 | €19,032 | -€23,021 | -54.7% |
| Deferred charges and accrued income | 490/1 | €2,139 | €862 | -€1,277 | -59.7% |
| Total equity and liabilities | 10/49 | €187,011 | €167,258 | -€19,753 | -10.6% |
| Equity | 10/15 | €108,067 | €118,544 | +€10,477 | +9.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €101,867 | €112,344 | +€10,477 | +10.3% |
| Amounts payable | 17/49 | €78,944 | €48,714 | -€30,230 | -38.3% |
| Amounts payable after more than one year | 17 | €40,527 | €30,447 | -€10,080 | -24.9% |
| Financial debts | 170/4 | €40,527 | €30,447 | -€10,080 | -24.9% |
| Amounts payable within one year | 42/48 | €38,417 | €18,267 | -€20,150 | -52.5% |
| Current portion of amounts payable after more than one year | 42 | €14,540 | €10,503 | -€4,037 | -27.8% |
| Trade debts | 44 | €462 | €3,269 | +€2,807 | +606.9% |
| Suppliers | 440/4 | €462 | €3,269 | +€2,807 | +606.9% |
| Taxes, remuneration and social security | 45 | €9,349 | €4,495 | -€4,854 | -51.9% |
| Taxes | 450/3 | €7,549 | €4,495 | -€3,054 | -40.5% |
| Remuneration and social security | 454/9 | €1,800 | - | -€1,800 | |
| Other amounts payable | 47/48 | €14,066 | - | -€14,066 | |
| Non-recurring operating income | 76A | €3,661 | - | -€3,661 | |
| Remuneration, social security and pensions | 62 | €1,576 | €1,430 | -€146 | -9.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,385 | €18,879 | +€9,494 | +101.2% |
| Other operating charges | 640/8 | - | €1,295 | +€1,295 | |
| Non-recurring operating charges | 66A | €358 | - | -€358 | |
| Gross operating margin | 9900 | €39,714 | €35,596 | -€4,119 | -10.4% |
| Operating profit (loss) | 9901 | €28,395 | €13,991 | -€14,404 | -50.7% |
| Financial income | 75/76B | €2,126 | €3,007 | +€881 | +41.4% |
| Recurring financial income | 75 | €2,126 | €3,007 | +€881 | +41.4% |
| Financial charges | 65/66B | €819 | €2,026 | +€1,207 | +147.4% |
| Recurring financial charges | 65 | €819 | €2,026 | +€1,207 | +147.4% |
| Profit (loss) for the period before taxes | 9903 | €29,702 | €14,972 | -€14,730 | -49.6% |
| Income taxes | 67/77 | €7,508 | €4,495 | -€3,013 | -40.1% |
| Profit (loss) for the period | 9904 | €22,194 | €10,477 | -€11,717 | -52.8% |
| Profit (loss) for the period to be appropriated | 9905 | €22,194 | €10,477 | -€11,717 | -52.8% |
Source: filed annual accounts (NBB), financial years ended 31 May 2024 and 31 May 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.