MADEPS: 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.
MADEPS
Largest movements
- Cash +€17,210
up €17,210 (+62.0%), from €27,765 to €44,974
mainly Trade debts (+€16,574) and Net result for the year (+€8,566)
- Tangible fixed assets +€6,626
up €6,626 (+896%), from €739 to €7,365
of which Plant, machinery and equipment: +€5,647
- Receivables within one year +€1,134
up €1,134 (+70.9%), from €1,600 to €2,734
of which Other amounts receivable: +€1,327
- Trade debts +€16,574
up €16,574 (+4,151%), from €399 to €16,973
- Profit (loss) carried forward +€8,566
up €8,566 (+40.1%), from €21,364 to €29,930
- Gross operating margin -€15,242
down €15,242 (-52.3%), from €29,146 to €13,904
- Taxes -€3,199
down €3,199 (-59.9%), from €5,341 to €2,142
- Financial charges +€349
up €349 (+52.7%), from €661 to €1,010
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 | €30,104 | €55,074 | +€24,970 | +82.9% |
| Fixed assets | 21/28 | €739 | €7,365 | +€6,626 | +896% |
| Tangible fixed assets | 22/27 | €739 | €7,365 | +€6,626 | +896% |
| Plant, machinery and equipment | 23 | - | €5,647 | +€5,647 | |
| Furniture and vehicles | 24 | €739 | €1,718 | +€979 | +132% |
| Current assets | 29/58 | €29,364 | €47,709 | +€18,344 | +62.5% |
| Amounts receivable within one year | 40/41 | €1,600 | €2,734 | +€1,134 | +70.9% |
| Trade receivables | 40 | €358 | €165 | -€193 | -53.8% |
| Other amounts receivable | 41 | €1,242 | €2,569 | +€1,327 | +107% |
| Cash at bank and in hand | 54/58 | €27,765 | €44,974 | +€17,210 | +62.0% |
| Total equity and liabilities | 10/49 | €30,104 | €55,074 | +€24,970 | +82.9% |
| Equity | 10/15 | €24,364 | €32,930 | +€8,566 | +35.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €21,364 | €29,930 | +€8,566 | +40.1% |
| Amounts payable | 17/49 | €5,740 | €22,144 | +€16,404 | +286% |
| Amounts payable within one year | 42/48 | €5,740 | €22,144 | +€16,404 | +286% |
| Trade debts | 44 | €399 | €16,973 | +€16,574 | +4,151% |
| Suppliers | 440/4 | €399 | €16,973 | +€16,574 | +4,151% |
| Taxes, remuneration and social security | 45 | €5,341 | €5,171 | -€170 | -3.2% |
| Taxes | 450/3 | €5,341 | €2,142 | -€3,199 | -59.9% |
| Remuneration and social security | 454/9 | - | €3,029 | +€3,029 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,781 | €1,993 | +€212 | +11.9% |
| Other operating charges | 640/8 | - | €194 | +€194 | |
| Gross operating margin | 9900 | €29,146 | €13,904 | -€15,242 | -52.3% |
| Operating profit (loss) | 9901 | €27,366 | €11,718 | -€15,648 | -57.2% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €661 | €1,010 | +€349 | +52.7% |
| Recurring financial charges | 65 | €661 | €1,010 | +€349 | +52.7% |
| Profit (loss) for the period before taxes | 9903 | €26,705 | €10,708 | -€15,997 | -59.9% |
| Income taxes | 67/77 | €5,341 | €2,142 | -€3,199 | -59.9% |
| Profit (loss) for the period | 9904 | €21,364 | €8,566 | -€12,797 | -59.9% |
| Profit (loss) for the period to be appropriated | 9905 | €21,364 | €8,566 | -€12,797 | -59.9% |
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.