MADEBIT: 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.
MADEBIT
Largest movements
- Tangible fixed assets +€41,877
up €41,877 (+3,791%), from €1,105 to €42,982
of which Other tangible fixed assets: +€39,200
- Receivables within one year +€19,270
up €19,270 (+88.4%), from €21,789 to €41,058
of which Other amounts receivable: +€19,572
- Cash -€1,949
down €1,949 (-17.7%), from €10,989 to €9,040
mainly Investment in fixed assets (net) (-€43,263) and Receivables within one year (-€19,270)
- Reserves +€32,895
new in 2025: €32,895
- Debts after one year +€26,407
new in 2025: €26,407
- Other debts -€10,746
down €10,746 (-69.9%), from €15,368 to €4,622
- Trade debts +€6,891
up €6,891 (+1,497%), from €460 to €7,351
- Current portion of long-term debt +€4,054
new in 2025: €4,054
- Gross operating margin +€6,212
up €6,212 (+14.7%), from €42,250 to €48,461
- Taxes +€1,577
up €1,577 (+14.9%), from €10,579 to €12,157
- Other operating charges +€768
up €768 (+130%), from €590 to €1,359
- Financial charges +€506
up €506 (+278%), from €182 to €689
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 | €33,882 | €93,080 | +€59,198 | +175% |
| Fixed assets | 21/28 | €1,105 | €42,982 | +€41,877 | +3,791% |
| Tangible fixed assets | 22/27 | €1,105 | €42,982 | +€41,877 | +3,791% |
| Plant, machinery and equipment | 23 | €957 | €3,782 | +€2,825 | +295% |
| Furniture and vehicles | 24 | €148 | - | -€148 | |
| Other tangible fixed assets | 26 | €0 | €39,200 | +€39,200 | |
| Current assets | 29/58 | €32,778 | €50,098 | +€17,321 | +52.8% |
| Amounts receivable within one year | 40/41 | €21,789 | €41,058 | +€19,270 | +88.4% |
| Trade receivables | 40 | €21,780 | €21,478 | -€303 | -1.4% |
| Other amounts receivable | 41 | €9 | €19,581 | +€19,572 | +228,382% |
| Cash at bank and in hand | 54/58 | €10,989 | €9,040 | -€1,949 | -17.7% |
| Total equity and liabilities | 10/49 | €33,882 | €93,080 | +€59,198 | +175% |
| Equity | 10/15 | €2,000 | €34,895 | +€32,895 | +1,645% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | - | €32,895 | +€32,895 | |
| Distributable reserves | 133 | - | €32,895 | +€32,895 | |
| Amounts payable | 17/49 | €31,882 | €58,186 | +€26,303 | +82.5% |
| Amounts payable after more than one year | 17 | - | €26,407 | +€26,407 | |
| Financial debts | 170/4 | - | €26,407 | +€26,407 | |
| Amounts payable within one year | 42/48 | €31,882 | €31,779 | -€103 | -0.3% |
| Current portion of amounts payable after more than one year | 42 | - | €4,054 | +€4,054 | |
| Trade debts | 44 | €460 | €7,351 | +€6,891 | +1,497% |
| Suppliers | 440/4 | €460 | €7,351 | +€6,891 | +1,497% |
| Taxes, remuneration and social security | 45 | €16,054 | €15,751 | -€303 | -1.9% |
| Taxes | 450/3 | €16,054 | €15,719 | -€335 | -2.1% |
| Remuneration and social security | 454/9 | - | €32 | +€32 | |
| Other amounts payable | 47/48 | €15,368 | €4,622 | -€10,746 | -69.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,830 | €1,386 | -€444 | -24.3% |
| Other operating charges | 640/8 | €590 | €1,359 | +€768 | +130% |
| Non-recurring operating charges | 66A | €2,781 | - | -€2,781 | |
| Gross operating margin | 9900 | €42,250 | €48,461 | +€6,212 | +14.7% |
| Operating profit (loss) | 9901 | €37,049 | €45,717 | +€8,668 | +23.4% |
| Financial income | 75/76B | €1 | €23 | +€22 | +1,618% |
| Recurring financial income | 75 | €1 | €23 | +€22 | +1,618% |
| Financial charges | 65/66B | €182 | €689 | +€506 | +278% |
| Recurring financial charges | 65 | €182 | €689 | +€506 | +278% |
| Profit (loss) for the period before taxes | 9903 | €36,868 | €45,051 | +€8,184 | +22.2% |
| Income taxes | 67/77 | €10,579 | €12,157 | +€1,577 | +14.9% |
| Profit (loss) for the period | 9904 | €26,288 | €32,895 | +€6,606 | +25.1% |
| Profit (loss) for the period to be appropriated | 9905 | €26,288 | €32,895 | +€6,606 | +25.1% |
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 15 October 2026 via checked.be.