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
- Receivables after one year +€19,232
up €19,232 (+91.9%), from €20,917 to €40,149
- Tangible fixed assets +€15,287
up €15,287 (+447%), from €3,419 to €18,706
of which Land and buildings: +€9,945
- Cash +€7,012
up €7,012 (+13.5%), from €51,906 to €58,918
mainly Net result for the year (+€50,423) and Other debts (+€42,860)
- Deferred charges and accrued income -€2,445
down €2,445 (-14.3%), from €17,039 to €14,594
- Receivables within one year -€2,026
down €2,026 (-52.1%), from €3,885 to €1,859
of which Other amounts receivable: -€2,026
- Other debts +€42,860
new in 2025: €42,860
- Trade debts -€8,205
down €8,205 (-81.1%), from €10,114 to €1,909
- Tax, wage and social debts +€2,405
up €2,405 (+40.0%), from €6,018 to €8,423
of which Taxes: +€4,751
- Gross operating margin +€14,225
up €14,225 (+26.6%), from €53,479 to €67,704
- Staff costs +€1,830
new in 2025: €1,830
- Taxes -€1,448
down €1,448 (-9.8%), from €14,802 to €13,354
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 | €97,166 | €134,226 | +€37,060 | +38.1% |
| Fixed assets | 21/28 | €3,419 | €18,706 | +€15,287 | +447% |
| Tangible fixed assets | 22/27 | €3,419 | €18,706 | +€15,287 | +447% |
| Land and buildings | 22 | - | €9,945 | +€9,945 | |
| Plant, machinery and equipment | 23 | €3,419 | €8,761 | +€5,342 | +156% |
| Current assets | 29/58 | €93,747 | €115,520 | +€21,773 | +23.2% |
| Amounts receivable after more than one year | 29 | €20,917 | €40,149 | +€19,232 | +91.9% |
| Other amounts receivable | 291 | €20,917 | €40,149 | +€19,232 | +91.9% |
| Amounts receivable within one year | 40/41 | €3,885 | €1,859 | -€2,026 | -52.1% |
| Trade receivables | 40 | €15 | €15 | = | 0.0% |
| Other amounts receivable | 41 | €3,870 | €1,844 | -€2,026 | -52.4% |
| Cash at bank and in hand | 54/58 | €51,906 | €58,918 | +€7,012 | +13.5% |
| Deferred charges and accrued income | 490/1 | €17,039 | €14,594 | -€2,445 | -14.3% |
| Total equity and liabilities | 10/49 | €97,166 | €134,226 | +€37,060 | +38.1% |
| Equity | 10/15 | €81,034 | €81,034 | = | 0.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €78,034 | €78,034 | = | 0.0% |
| Distributable reserves | 133 | €78,034 | €78,034 | = | 0.0% |
| Amounts payable | 17/49 | €16,132 | €53,192 | +€37,060 | +230% |
| Amounts payable within one year | 42/48 | €16,132 | €53,192 | +€37,060 | +230% |
| Trade debts | 44 | €10,114 | €1,909 | -€8,205 | -81.1% |
| Suppliers | 440/4 | €10,114 | €1,909 | -€8,205 | -81.1% |
| Taxes, remuneration and social security | 45 | €6,018 | €8,423 | +€2,405 | +40.0% |
| Taxes | 450/3 | €3,672 | €8,423 | +€4,751 | +129% |
| Remuneration and social security | 454/9 | €2,346 | - | -€2,346 | |
| Other amounts payable | 47/48 | - | €42,860 | +€42,860 | |
| Remuneration, social security and pensions | 62 | - | €1,830 | +€1,830 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €742 | €1,100 | +€358 | +48.2% |
| Other operating charges | 640/8 | €1,519 | €1,515 | -€4 | -0.3% |
| Gross operating margin | 9900 | €53,479 | €67,704 | +€14,225 | +26.6% |
| Operating profit (loss) | 9901 | €51,218 | €63,259 | +€12,041 | +23.5% |
| Financial income | 75/76B | €309 | €593 | +€284 | +91.9% |
| Recurring financial income | 75 | €309 | €593 | +€284 | +91.9% |
| Financial charges | 65/66B | - | €75 | +€75 | |
| Recurring financial charges | 65 | - | €75 | +€75 | |
| Profit (loss) for the period before taxes | 9903 | €51,527 | €63,777 | +€12,250 | +23.8% |
| Income taxes | 67/77 | €14,802 | €13,354 | -€1,448 | -9.8% |
| Profit (loss) for the period | 9904 | €36,725 | €50,423 | +€13,698 | +37.3% |
| Profit (loss) for the period to be appropriated | 9905 | €36,725 | €50,423 | +€13,698 | +37.3% |
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 13 October 2026 via checked.be.