MADENT: 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.
MADENT
Largest movements
- Cash -€20,399
down €20,399 (-64.5%), from €31,629 to €11,230
mainly Debts after one year (-€13,477) and Other debts (-€11,413)
- Tangible fixed assets -€16,330
down €16,330 (-34.0%), from €48,053 to €31,723
of which Plant, machinery and equipment: -€8,407
- Receivables within one year +€3,462
up €3,462 (+77.4%), from €4,471 to €7,933
- Deferred charges and accrued income +€2,960
up €2,960 (+152.8%), from €1,937 to €4,897
- Debts after one year -€13,477
down €13,477 (-53.2%), from €25,326 to €11,849
- Other debts -€11,413
down €11,413 (-60.2%), from €18,957 to €7,544
- Reserves -€8,069
down €8,069 (-22.4%), from €36,028 to €27,959
- Trade debts +€2,142
up €2,142 (+155.5%), from €1,378 to €3,519
- Gross operating margin +€16,266
up €16,266 (+443.0%), from €3,672 to €19,938
- Financial charges -€368
down €368 (-24.7%), from €1,492 to €1,123
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 | €86,090 | €55,783 | -€30,307 | -35.2% |
| Fixed assets | 21/28 | €48,053 | €31,723 | -€16,330 | -34.0% |
| Tangible fixed assets | 22/27 | €48,053 | €31,723 | -€16,330 | -34.0% |
| Plant, machinery and equipment | 23 | €24,746 | €16,339 | -€8,407 | -34.0% |
| Furniture and vehicles | 24 | €18,680 | €12,161 | -€6,518 | -34.9% |
| Other tangible fixed assets | 26 | €4,627 | €3,223 | -€1,405 | -30.4% |
| Current assets | 29/58 | €38,037 | €24,060 | -€13,977 | -36.7% |
| Amounts receivable within one year | 40/41 | €4,471 | €7,933 | +€3,462 | +77.4% |
| Other amounts receivable | 41 | €4,471 | €7,933 | +€3,462 | +77.4% |
| Cash at bank and in hand | 54/58 | €31,629 | €11,230 | -€20,399 | -64.5% |
| Deferred charges and accrued income | 490/1 | €1,937 | €4,897 | +€2,960 | +152.8% |
| Total equity and liabilities | 10/49 | €86,090 | €55,783 | -€30,307 | -35.2% |
| Equity | 10/15 | €23,728 | €15,286 | -€8,442 | -35.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €36,028 | €27,959 | -€8,069 | -22.4% |
| Distributable reserves | 133 | €36,028 | €27,959 | -€8,069 | -22.4% |
| Profit (loss) carried forward | 14 | -€17,300 | -€17,673 | -€373 | -2.2% |
| Amounts payable | 17/49 | €62,362 | €40,497 | -€21,865 | -35.1% |
| Amounts payable after more than one year | 17 | €25,326 | €11,849 | -€13,477 | -53.2% |
| Financial debts | 170/4 | €25,326 | €11,849 | -€13,477 | -53.2% |
| Amounts payable within one year | 42/48 | €37,036 | €28,648 | -€8,388 | -22.6% |
| Current portion of amounts payable after more than one year | 42 | €13,118 | €13,477 | +€359 | +2.7% |
| Trade debts | 44 | €1,378 | €3,519 | +€2,142 | +155.5% |
| Suppliers | 440/4 | €1,378 | €3,519 | +€2,142 | +155.5% |
| Taxes, remuneration and social security | 45 | €3,584 | €4,108 | +€524 | +14.6% |
| Taxes | 450/3 | €3,584 | €4,108 | +€524 | +14.6% |
| Other amounts payable | 47/48 | €18,957 | €7,544 | -€11,413 | -60.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,023 | €17,920 | -€104 | -0.6% |
| Other operating charges | 640/8 | €1,228 | €1,069 | -€160 | -13.0% |
| Gross operating margin | 9900 | €3,672 | €19,938 | +€16,266 | +443.0% |
| Operating profit (loss) | 9901 | -€15,580 | €949 | +€16,529 | |
| Financial income | 75/76B | - | €29 | +€29 | |
| Recurring financial income | 75 | - | €29 | +€29 | |
| Financial charges | 65/66B | €1,492 | €1,123 | -€368 | -24.7% |
| Recurring financial charges | 65 | €1,492 | €1,123 | -€368 | -24.7% |
| Profit (loss) for the period before taxes | 9903 | -€17,071 | -€144 | +€16,927 | +99.2% |
| Income taxes | 67/77 | €229 | €229 | -€0 | 0.0% |
| Profit (loss) for the period | 9904 | -€17,300 | -€373 | +€16,927 | +97.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€17,300 | -€373 | +€16,927 | +97.8% |
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 9 October 2026 via checked.be.