MADEA: 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.
MADEA
Largest movements
- Cash +€5,681
up €5,681 (+16.0%), from €35,583 to €41,264
mainly Net result for the year (+€18,162) and Receivables within one year (+€3,829)
- Receivables within one year -€3,829
down €3,829 (-12.4%), from €30,947 to €27,118
of which Trade receivables: -€28,973
- Deferred charges and accrued income +€1,278
new in 2025: €1,278
- Intangible fixed assets -€1,250
down €1,250 (-13.1%), from €9,562 to €8,312
- Profit (loss) carried forward +€3,876
up €3,876 (+7.1%), from €54,526 to €58,402
- Tax, wage and social debts -€1,891
down €1,891 (-11.5%), from €16,461 to €14,570
- Gross operating margin -€10,868
down €10,868 (-27.8%), from €39,070 to €28,201
- Staff costs -€4,305
down €4,305 (-91.1%), from €4,725 to €420
- Other operating charges -€874
down €874 (-39.9%), from €2,190 to €1,317
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 | €76,092 | €77,972 | +€1,880 | +2.5% |
| Fixed assets | 21/28 | €9,562 | €8,312 | -€1,250 | -13.1% |
| Intangible fixed assets | 21 | €9,562 | €8,312 | -€1,250 | -13.1% |
| Current assets | 29/58 | €66,530 | €69,660 | +€3,130 | +4.7% |
| Amounts receivable within one year | 40/41 | €30,947 | €27,118 | -€3,829 | -12.4% |
| Trade receivables | 40 | €28,994 | €22 | -€28,973 | -99.9% |
| Other amounts receivable | 41 | €1,952 | €27,096 | +€25,144 | +1287.9% |
| Cash at bank and in hand | 54/58 | €35,583 | €41,264 | +€5,681 | +16.0% |
| Deferred charges and accrued income | 490/1 | - | €1,278 | +€1,278 | |
| Total equity and liabilities | 10/49 | €76,092 | €77,972 | +€1,880 | +2.5% |
| Equity | 10/15 | €59,526 | €63,402 | +€3,876 | +6.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €54,526 | €58,402 | +€3,876 | +7.1% |
| Amounts payable | 17/49 | €16,566 | €14,570 | -€1,996 | -12.0% |
| Amounts payable within one year | 42/48 | €16,566 | €14,570 | -€1,996 | -12.0% |
| Trade debts | 44 | €105 | - | -€105 | |
| Suppliers | 440/4 | €105 | - | -€105 | |
| Taxes, remuneration and social security | 45 | €16,461 | €14,570 | -€1,891 | -11.5% |
| Taxes | 450/3 | €16,461 | €14,570 | -€1,891 | -11.5% |
| Remuneration, social security and pensions | 62 | €4,725 | €420 | -€4,305 | -91.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,250 | €1,250 | = | 0.0% |
| Other operating charges | 640/8 | €2,190 | €1,317 | -€874 | -39.9% |
| Gross operating margin | 9900 | €39,070 | €28,201 | -€10,868 | -27.8% |
| Operating profit (loss) | 9901 | €30,904 | €25,215 | -€5,690 | -18.4% |
| Financial income | 75/76B | - | €7 | +€7 | |
| Recurring financial income | 75 | - | €7 | +€7 | |
| Financial charges | 65/66B | €137 | €109 | -€28 | -20.2% |
| Recurring financial charges | 65 | €137 | €109 | -€28 | -20.2% |
| Profit (loss) for the period before taxes | 9903 | €30,768 | €25,113 | -€5,655 | -18.4% |
| Income taxes | 67/77 | €7,159 | €6,951 | -€208 | -2.9% |
| Profit (loss) for the period | 9904 | €23,609 | €18,162 | -€5,447 | -23.1% |
| Profit (loss) for the period to be appropriated | 9905 | €23,609 | €18,162 | -€5,447 | -23.1% |
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 10 October 2026 via checked.be.