MADEMA: 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.
MADEMA
Largest movements
- Tangible fixed assets -€18,981
down €18,981 (-20.6%), from €92,044 to €73,063
of which Land and buildings: -€9,630
- Receivables within one year -€9,831
down €9,831 (-28.5%), from €34,519 to €24,688
of which Other amounts receivable: -€9,972
- Stocks and contracts -€9,699
down €9,699 (-88.5%), from €10,965 to €1,266
- Trade debts -€28,802
down €28,802 (-82.9%), from €34,762 to €5,960
- Debts after one year -€10,133
down €10,133 (-25.9%), from €39,070 to €28,937
- Current portion of long-term debt -€3,246
down €3,246 (-23.1%), from €14,068 to €10,822
- Tax, wage and social debts +€1,703
up €1,703 (+313.6%), from €543 to €2,246
- Reserves +€1,556
up €1,556 (+50.3%), from €3,094 to €4,650
of which Distributable reserves: +€1,556
- Financial charges +€6,097
up €6,097 (+97.1%), from €6,280 to €12,378
- Gross operating margin -€5,137
down €5,137 (-12.9%), from €39,881 to €34,744
- Other operating charges +€987
up €987 (+71.8%), from €1,375 to €2,361
- Financial income +€477
up €477 (+78.5%), from €608 to €1,085
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €138,960 | €101,083 | -€37,877 | -27.3% |
| Fixed assets | 21/28 | €92,059 | €73,078 | -€18,981 | -20.6% |
| Tangible fixed assets | 22/27 | €92,044 | €73,063 | -€18,981 | -20.6% |
| Land and buildings | 22 | €79,358 | €69,728 | -€9,630 | -12.1% |
| Plant, machinery and equipment | 23 | €1,315 | €517 | -€798 | -60.7% |
| Furniture and vehicles | 24 | €11,371 | €2,818 | -€8,553 | -75.2% |
| Financial fixed assets | 28 | €15 | €15 | = | 0.0% |
| Current assets | 29/58 | €46,901 | €28,005 | -€18,896 | -40.3% |
| Stocks and contracts in progress | 3 | €10,965 | €1,266 | -€9,699 | -88.5% |
| Stocks | 30/36 | €10,965 | €1,266 | -€9,699 | -88.5% |
| Amounts receivable within one year | 40/41 | €34,519 | €24,688 | -€9,831 | -28.5% |
| Trade receivables | 40 | €5,287 | €5,428 | +€141 | +2.7% |
| Other amounts receivable | 41 | €29,232 | €19,260 | -€9,972 | -34.1% |
| Deferred charges and accrued income | 490/1 | €1,417 | €2,051 | +€634 | +44.7% |
| Total equity and liabilities | 10/49 | €138,960 | €101,083 | -€37,877 | -27.3% |
| Equity | 10/15 | €21,694 | €23,250 | +€1,556 | +7.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €3,094 | €4,650 | +€1,556 | +50.3% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €3,094 | €4,650 | +€1,556 | +50.3% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €117,266 | €77,833 | -€39,433 | -33.6% |
| Amounts payable after more than one year | 17 | €39,070 | €28,937 | -€10,133 | -25.9% |
| Financial debts | 170/4 | €39,070 | €28,937 | -€10,133 | -25.9% |
| Amounts payable within one year | 42/48 | €78,196 | €48,890 | -€29,307 | -37.5% |
| Current portion of amounts payable after more than one year | 42 | €14,068 | €10,822 | -€3,246 | -23.1% |
| Financial debts | 43 | €28,824 | €29,862 | +€1,038 | +3.6% |
| Credit institutions | 430/8 | €28,824 | €29,862 | +€1,038 | +3.6% |
| Trade debts | 44 | €34,762 | €5,960 | -€28,802 | -82.9% |
| Suppliers | 440/4 | €34,762 | €5,960 | -€28,802 | -82.9% |
| Taxes, remuneration and social security | 45 | €543 | €2,246 | +€1,703 | +313.6% |
| Taxes | 450/3 | €543 | €2,246 | +€1,703 | +313.6% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | - | €7 | +€7 | |
| Non-recurring operating income | 76A | €0 | €455 | +€455 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,215 | €18,981 | -€235 | -1.2% |
| Other operating charges | 640/8 | €1,375 | €2,361 | +€987 | +71.8% |
| Gross operating margin | 9900 | €39,881 | €34,744 | -€5,137 | -12.9% |
| Operating profit (loss) | 9901 | €19,291 | €13,402 | -€5,889 | -30.5% |
| Financial income | 75/76B | €608 | €1,085 | +€477 | +78.5% |
| Recurring financial income | 75 | €608 | €1,085 | +€477 | +78.5% |
| Financial charges | 65/66B | €6,280 | €12,378 | +€6,097 | +97.1% |
| Recurring financial charges | 65 | €6,280 | €12,378 | +€6,097 | +97.1% |
| Profit (loss) for the period before taxes | 9903 | €13,618 | €2,109 | -€11,509 | -84.5% |
| Income taxes | 67/77 | €543 | €553 | +€10 | +1.8% |
| Profit (loss) for the period | 9904 | €13,075 | €1,556 | -€11,519 | -88.1% |
| Profit (loss) for the period to be appropriated | 9905 | €13,075 | €1,556 | -€11,519 | -88.1% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.