MADEMINO: 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.
MADEMINO
Largest movements
- Cash -€9,966
down €9,966 (-37.6%), from €26,473 to €16,507
mainly Other debts (-€9,640) and Investment in fixed assets (net) (-€7,000)
- Receivables within one year +€3,878
up €3,878 (+46.1%), from €8,420 to €12,298
of which Trade receivables: +€3,221
- Tangible fixed assets +€736
up €736 (+3.0%), from €24,631 to €25,367
of which Plant, machinery and equipment: +€5,812
- Deferred charges and accrued income -€670
down €670 (-23.8%), from €2,819 to €2,148
- Other debts -€9,640
down €9,640 (-26.2%), from €36,750 to €27,109
- Tax, wage and social debts +€2,145
up €2,145 (+56.4%), from €3,804 to €5,949
- Reserves +€1,109
up €1,109 (+7.3%), from €15,180 to €16,288
- Gross operating margin -€7,560
down €7,560 (-33.2%), from €22,748 to €15,188
- Depreciation +€4,924
up €4,924 (+331%), from €1,487 to €6,411
- Financial charges +€4,826
up €4,826 (+308%), from €1,566 to €6,392
- Taxes -€3,323
down €3,323 (-86.4%), from €3,848 to €525
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 | €62,489 | €56,319 | -€6,170 | -9.9% |
| Formation expenses | 20 | €147 | €0 | -€147 | -100% |
| Fixed assets | 21/28 | €24,631 | €25,367 | +€736 | +3.0% |
| Tangible fixed assets | 22/27 | €24,631 | €25,367 | +€736 | +3.0% |
| Plant, machinery and equipment | 23 | - | €5,812 | +€5,812 | |
| Furniture and vehicles | 24 | €12,722 | €10,054 | -€2,667 | -21.0% |
| Leasing and similar rights | 25 | €11,910 | €9,500 | -€2,409 | -20.2% |
| Current assets | 29/58 | €37,711 | €30,953 | -€6,759 | -17.9% |
| Amounts receivable within one year | 40/41 | €8,420 | €12,298 | +€3,878 | +46.1% |
| Trade receivables | 40 | €6,050 | €9,271 | +€3,221 | +53.2% |
| Other amounts receivable | 41 | €2,370 | €3,026 | +€657 | +27.7% |
| Cash at bank and in hand | 54/58 | €26,473 | €16,507 | -€9,966 | -37.6% |
| Deferred charges and accrued income | 490/1 | €2,819 | €2,148 | -€670 | -23.8% |
| Total equity and liabilities | 10/49 | €62,489 | €56,319 | -€6,170 | -9.9% |
| Equity | 10/15 | €21,180 | €22,288 | +€1,109 | +5.2% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €15,180 | €16,288 | +€1,109 | +7.3% |
| Distributable reserves | 133 | €15,180 | €16,288 | +€1,109 | +7.3% |
| Amounts payable | 17/49 | €41,310 | €34,031 | -€7,278 | -17.6% |
| Amounts payable within one year | 42/48 | €40,910 | €33,607 | -€7,302 | -17.8% |
| Trade debts | 44 | €356 | €549 | +€193 | +54.3% |
| Suppliers | 440/4 | €356 | €549 | +€193 | +54.3% |
| Taxes, remuneration and social security | 45 | €3,804 | €5,949 | +€2,145 | +56.4% |
| Taxes | 450/3 | €3,804 | €5,949 | +€2,145 | +56.4% |
| Other amounts payable | 47/48 | €36,750 | €27,109 | -€9,640 | -26.2% |
| Accrued charges and deferred income | 492/3 | €400 | €424 | +€24 | +5.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,487 | €6,411 | +€4,924 | +331% |
| Other operating charges | 640/8 | €815 | €923 | +€108 | +13.3% |
| Gross operating margin | 9900 | €22,748 | €15,188 | -€7,560 | -33.2% |
| Operating profit (loss) | 9901 | €20,447 | €7,855 | -€12,593 | -61.6% |
| Financial income | 75/76B | €147 | €171 | +€25 | +16.8% |
| Recurring financial income | 75 | €147 | €171 | +€25 | +16.8% |
| Financial charges | 65/66B | €1,566 | €6,392 | +€4,826 | +308% |
| Recurring financial charges | 65 | €1,566 | €6,392 | +€4,826 | +308% |
| Profit (loss) for the period before taxes | 9903 | €19,028 | €1,634 | -€17,394 | -91.4% |
| Income taxes | 67/77 | €3,848 | €525 | -€3,323 | -86.4% |
| Profit (loss) for the period | 9904 | €15,180 | €1,109 | -€14,071 | -92.7% |
| Profit (loss) for the period to be appropriated | 9905 | €15,180 | €1,109 | -€14,071 | -92.7% |
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 28 October 2026 via checked.be.