MADECO CONSULT: 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.
MADECO CONSULT
Largest movements
- Cash +€245,832
up €245,832 (+208%), from €117,996 to €363,827
mainly Net result for the year (+€263,938) and Trade debts (+€193,549)
- Receivables within one year +€71,849
up €71,849 (+33.4%), from €215,190 to €287,040
of which Trade receivables: +€67,980
- Tangible fixed assets -€24,737
down €24,737 (-39.3%), from €63,020 to €38,283
- Reserves +€263,105
up €263,105 (+52.8%), from €498,539 to €761,644
- Debts after one year -€205,083
down €205,083 (-32.9%), from €622,929 to €417,846
- Trade debts +€193,549
up €193,549 (+206%), from €93,761 to €287,310
- Tax, wage and social debts +€22,476
up €22,476 (+12.9%), from €174,252 to €196,728
of which Taxes: +€22,476
- Depreciation +€11,684
up €11,684 (+79.8%), from €14,635 to €26,319
- Gross operating margin +€6,597
up €6,597 (+1.6%), from €415,036 to €421,634
- Financial charges +€5,359
up €5,359 (+20.8%), from €25,772 to €31,131
of which Financial charges: +€5,359
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 | €1,654,223 | €1,946,690 | +€292,468 | +17.7% |
| Fixed assets | 21/28 | €1,320,560 | €1,295,823 | -€24,737 | -1.9% |
| Tangible fixed assets | 22/27 | €63,020 | €38,283 | -€24,737 | -39.3% |
| Furniture and vehicles | 24 | €63,020 | €38,283 | -€24,737 | -39.3% |
| Financial fixed assets | 28 | €1,257,540 | €1,257,540 | = | 0.0% |
| Current assets | 29/58 | €333,663 | €650,867 | +€317,204 | +95.1% |
| Amounts receivable within one year | 40/41 | €215,190 | €287,040 | +€71,849 | +33.4% |
| Trade receivables | 40 | €214,650 | €282,629 | +€67,980 | +31.7% |
| Other amounts receivable | 41 | €541 | €4,410 | +€3,870 | +716% |
| Cash at bank and in hand | 54/58 | €117,996 | €363,827 | +€245,832 | +208% |
| Deferred charges and accrued income | 490/1 | €477 | €0 | -€477 | -100% |
| Total equity and liabilities | 10/49 | €1,654,223 | €1,946,690 | +€292,468 | +17.7% |
| Equity | 10/15 | €513,539 | €776,644 | +€263,105 | +51.2% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €498,539 | €761,644 | +€263,105 | +52.8% |
| Distributable reserves | 133 | €498,539 | €761,644 | +€263,105 | +52.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,140,683 | €1,170,046 | +€29,363 | +2.6% |
| Amounts payable after more than one year | 17 | €622,929 | €417,846 | -€205,083 | -32.9% |
| Financial debts | 170/4 | €622,929 | €417,846 | -€205,083 | -32.9% |
| Amounts payable within one year | 42/48 | €513,559 | €748,766 | +€235,207 | +45.8% |
| Current portion of amounts payable after more than one year | 42 | €197,379 | €205,083 | +€7,704 | +3.9% |
| Trade debts | 44 | €93,761 | €287,310 | +€193,549 | +206% |
| Suppliers | 440/4 | €93,761 | €287,310 | +€193,549 | +206% |
| Advances received on contracts in progress | 46 | - | €3,097 | +€3,097 | |
| Taxes, remuneration and social security | 45 | €174,252 | €196,728 | +€22,476 | +12.9% |
| Taxes | 450/3 | €174,252 | €196,728 | +€22,476 | +12.9% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €48,166 | €56,548 | +€8,381 | +17.4% |
| Accrued charges and deferred income | 492/3 | €4,195 | €3,434 | -€761 | -18.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,635 | €26,319 | +€11,684 | +79.8% |
| Other operating charges | 640/8 | €1,235 | €1,295 | +€60 | +4.9% |
| Non-recurring operating charges | 66A | €2,979 | €0 | -€2,979 | -100% |
| Gross operating margin | 9900 | €415,036 | €421,634 | +€6,597 | +1.6% |
| Operating profit (loss) | 9901 | €396,187 | €394,019 | -€2,168 | -0.5% |
| Financial income | 75/76B | €14 | €212 | +€198 | +1,373% |
| Recurring financial income | 75 | €14 | €212 | +€198 | +1,373% |
| Financial charges | 65/66B | €25,772 | €31,131 | +€5,359 | +20.8% |
| Recurring financial charges | 65 | €25,772 | €31,131 | +€5,359 | +20.8% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €370,429 | €363,100 | -€7,329 | -2.0% |
| Income taxes | 67/77 | €97,408 | €99,162 | +€1,754 | +1.8% |
| Profit (loss) for the period | 9904 | €273,021 | €263,938 | -€9,083 | -3.3% |
| Profit (loss) for the period to be appropriated | 9905 | €273,021 | €263,938 | -€9,083 | -3.3% |
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 14 October 2026 via checked.be.