madeby: 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.
madeby
Largest movements
- Receivables within one year -€31,508
down €31,508 (-91.3%), from €34,503 to €2,995
of which Trade receivables: -€31,508
- Tangible fixed assets +€21,486
up €21,486 (+5.0%), from €431,654 to €453,140
of which Plant, machinery and equipment: +€15,586
- Stocks and contracts -€5,823
down €5,823 (-12.7%), from €45,770 to €39,947
- Revaluation surpluses +€31,577
up €31,577 (+22.0%), from €143,851 to €175,428
- Profit (loss) carried forward -€28,318
down €28,318 (-15.3%), from -€185,650 to -€213,967
- Trade debts +€22,251
up €22,251 (+281.6%), from €7,900 to €30,151
- Other debts -€17,200
down €17,200 (-61.5%), from €27,986 to €10,786
- Debts after one year -€11,400
down €11,400 (-3.3%), from €350,211 to €338,811
of which Financial debts: -€31,400
- Gross operating margin -€10,883
down €10,883 (-8.9%), from €122,767 to €111,884
- Staff costs +€5,474
up €5,474 (+7.0%), from €78,149 to €83,622
- Financial income +€5,438
up €5,438 (+121.9%), from €4,461 to €9,898
- Depreciation +€5,274
up €5,274 (+13.7%), from €38,410 to €43,684
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 | €534,344 | €514,213 | -€20,131 | -3.8% |
| Formation expenses | 20 | €901 | €700 | -€201 | -22.3% |
| Fixed assets | 21/28 | €432,441 | €453,928 | +€21,486 | +5.0% |
| Tangible fixed assets | 22/27 | €431,654 | €453,140 | +€21,486 | +5.0% |
| Land and buildings | 22 | €370,103 | €379,383 | +€9,280 | +2.5% |
| Plant, machinery and equipment | 23 | €7,732 | €23,318 | +€15,586 | +201.6% |
| Furniture and vehicles | 24 | €53,819 | €50,439 | -€3,380 | -6.3% |
| Financial fixed assets | 28 | €788 | €788 | = | 0.0% |
| Current assets | 29/58 | €101,002 | €59,586 | -€41,417 | -41.0% |
| Stocks and contracts in progress | 3 | €45,770 | €39,947 | -€5,823 | -12.7% |
| Stocks | 30/36 | €45,770 | €39,947 | -€5,823 | -12.7% |
| Amounts receivable within one year | 40/41 | €34,503 | €2,995 | -€31,508 | -91.3% |
| Trade receivables | 40 | €34,503 | €2,995 | -€31,508 | -91.3% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €19,315 | €16,465 | -€2,850 | -14.8% |
| Deferred charges and accrued income | 490/1 | €1,415 | €179 | -€1,236 | -87.3% |
| Total equity and liabilities | 10/49 | €534,344 | €514,213 | -€20,131 | -3.8% |
| Equity | 10/15 | €3,147 | €1,957 | -€1,190 | -37.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Revaluation surpluses | 12 | €143,851 | €175,428 | +€31,577 | +22.0% |
| Profit (loss) carried forward | 14 | -€185,650 | -€213,967 | -€28,318 | -15.3% |
| Investment grants | 15 | €26,345 | €21,896 | -€4,449 | -16.9% |
| Amounts payable | 17/49 | €531,198 | €512,257 | -€18,941 | -3.6% |
| Amounts payable after more than one year | 17 | €350,211 | €338,811 | -€11,400 | -3.3% |
| Financial debts | 170/4 | €203,211 | €171,811 | -€31,400 | -15.5% |
| Other amounts payable | 178/9 | €147,000 | €167,000 | +€20,000 | +13.6% |
| Amounts payable within one year | 42/48 | €180,698 | €173,155 | -€7,543 | -4.2% |
| Current portion of amounts payable after more than one year | 42 | €51,953 | €47,450 | -€4,502 | -8.7% |
| Financial debts | 43 | €70,000 | €70,000 | = | 0.0% |
| Credit institutions | 430/8 | €70,000 | €70,000 | = | 0.0% |
| Trade debts | 44 | €7,900 | €30,151 | +€22,251 | +281.6% |
| Suppliers | 440/4 | €7,900 | €30,151 | +€22,251 | +281.6% |
| Taxes, remuneration and social security | 45 | €22,859 | €14,768 | -€8,092 | -35.4% |
| Taxes | 450/3 | €9,641 | €3,112 | -€6,529 | -67.7% |
| Remuneration and social security | 454/9 | €13,219 | €11,656 | -€1,563 | -11.8% |
| Other amounts payable | 47/48 | €27,986 | €10,786 | -€17,200 | -61.5% |
| Accrued charges and deferred income | 492/3 | €288 | €291 | +€2 | +0.8% |
| Non-recurring operating income | 76A | €12,200 | €0 | -€12,200 | -100.0% |
| Remuneration, social security and pensions | 62 | €78,149 | €83,622 | +€5,474 | +7.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,410 | €43,684 | +€5,274 | +13.7% |
| Other operating charges | 640/8 | €4,465 | €3,844 | -€621 | -13.9% |
| Gross operating margin | 9900 | €122,767 | €111,884 | -€10,883 | -8.9% |
| Operating profit (loss) | 9901 | €1,743 | -€19,267 | -€21,010 | |
| Financial income | 75/76B | €4,461 | €9,898 | +€5,438 | +121.9% |
| Recurring financial income | 75 | €4,461 | €9,898 | +€5,438 | +121.9% |
| Financial charges | 65/66B | €19,143 | €18,950 | -€193 | -1.0% |
| Recurring financial charges | 65 | €19,143 | €18,950 | -€193 | -1.0% |
| Profit (loss) for the period before taxes | 9903 | -€12,939 | -€28,318 | -€15,379 | -118.9% |
| Income taxes | 67/77 | €397 | €0 | -€397 | -100.0% |
| Profit (loss) for the period | 9904 | -€13,335 | -€28,318 | -€14,982 | -112.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,335 | -€28,318 | -€14,982 | -112.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.