MADESCO RUMBEKE: 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.
MADESCO RUMBEKE
Largest movements
- Cash +€634,454
up €634,454 (+2,541%), from €24,967 to €659,421
mainly Net result for the year (+€471,791) and Current investments (+€125,000)
- Current investments -€125,000
no longer reported in 2025 (was €125,000)
- Tangible fixed assets -€80,235
down €80,235 (-12.4%), from €645,099 to €564,864
of which Land and buildings: -€54,912
- Receivables within one year +€40,984
up €40,984 (+109%), from €37,565 to €78,548
of which Other amounts receivable: +€40,108
- Reserves +€470,000
up €470,000 (+290%), from €162,201 to €632,201
of which Distributable reserves: +€470,000
- Debts after one year -€38,417
down €38,417 (-11.2%), from €343,675 to €305,258
- Trade debts +€29,801
up €29,801 (+304%), from €9,804 to €39,605
- Gross operating margin +€559,359
up €559,359 (+271%), from €206,342 to €765,700
- Taxes +€180,529
up €180,529 (+1,165%), from €15,494 to €196,023
- Staff costs -€60,561
down €60,561 (-67.4%), from €89,861 to €29,300
- Depreciation -€8,021
down €8,021 (-12.4%), from €64,698 to €56,677
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 | €835,725 | €1,302,833 | +€467,108 | +55.9% |
| Fixed assets | 21/28 | €645,099 | €564,864 | -€80,235 | -12.4% |
| Tangible fixed assets | 22/27 | €645,099 | €564,864 | -€80,235 | -12.4% |
| Land and buildings | 22 | €590,143 | €535,232 | -€54,912 | -9.3% |
| Plant, machinery and equipment | 23 | €724 | - | -€724 | |
| Furniture and vehicles | 24 | €42,563 | €20,880 | -€21,682 | -50.9% |
| Other tangible fixed assets | 26 | €11,669 | €8,752 | -€2,917 | -25.0% |
| Current assets | 29/58 | €190,626 | €737,969 | +€547,343 | +287% |
| Amounts receivable within one year | 40/41 | €37,565 | €78,548 | +€40,984 | +109% |
| Trade receivables | 40 | - | €876 | +€876 | |
| Other amounts receivable | 41 | €37,565 | €77,672 | +€40,108 | +107% |
| Current investments | 50/53 | €125,000 | - | -€125,000 | |
| Cash at bank and in hand | 54/58 | €24,967 | €659,421 | +€634,454 | +2,541% |
| Deferred charges and accrued income | 490/1 | €3,094 | - | -€3,094 | |
| Total equity and liabilities | 10/49 | €835,725 | €1,302,833 | +€467,108 | +55.9% |
| Equity | 10/15 | €431,212 | €903,002 | +€471,791 | +109% |
| Contributions | 10/11 | €21,200 | €21,200 | = | 0.0% |
| Reserves | 13 | €162,201 | €632,201 | +€470,000 | +290% |
| Non-distributable reserves | 130/1 | €2,120 | €2,120 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,120 | €2,120 | = | 0.0% |
| Tax-exempt reserves | 132 | €81 | €81 | = | 0.0% |
| Distributable reserves | 133 | €160,000 | €630,000 | +€470,000 | +294% |
| Profit (loss) carried forward | 14 | €247,810 | €249,601 | +€1,791 | +0.7% |
| Amounts payable | 17/49 | €404,513 | €399,831 | -€4,682 | -1.2% |
| Amounts payable after more than one year | 17 | €343,675 | €305,258 | -€38,417 | -11.2% |
| Financial debts | 170/4 | €343,675 | €305,258 | -€38,417 | -11.2% |
| Amounts payable within one year | 42/48 | €60,838 | €94,573 | +€33,735 | +55.5% |
| Current portion of amounts payable after more than one year | 42 | €51,034 | €52,759 | +€1,725 | +3.4% |
| Trade debts | 44 | €9,804 | €39,605 | +€29,801 | +304% |
| Suppliers | 440/4 | €9,804 | €39,605 | +€29,801 | +304% |
| Taxes, remuneration and social security | 45 | - | €2,209 | +€2,209 | |
| Taxes | 450/3 | - | €2,209 | +€2,209 | |
| Remuneration, social security and pensions | 62 | €89,861 | €29,300 | -€60,561 | -67.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €64,698 | €56,677 | -€8,021 | -12.4% |
| Other operating charges | 640/8 | €3,594 | €3,400 | -€194 | -5.4% |
| Gross operating margin | 9900 | €206,342 | €765,700 | +€559,359 | +271% |
| Operating profit (loss) | 9901 | €48,188 | €676,324 | +€628,135 | +1,304% |
| Financial income | 75/76B | €7,421 | €5,885 | -€1,536 | -20.7% |
| Recurring financial income | 75 | €7,421 | €5,885 | -€1,536 | -20.7% |
| Financial charges | 65/66B | €7,184 | €14,395 | +€7,211 | +100% |
| Recurring financial charges | 65 | €7,184 | €14,395 | +€7,211 | +100% |
| Profit (loss) for the period before taxes | 9903 | €48,425 | €667,814 | +€619,388 | +1,279% |
| Income taxes | 67/77 | €15,494 | €196,023 | +€180,529 | +1,165% |
| Profit (loss) for the period | 9904 | €32,931 | €471,791 | +€438,859 | +1,333% |
| Profit (loss) for the period to be appropriated | 9905 | €32,931 | €471,791 | +€438,859 | +1,333% |
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 22 October 2026 via checked.be.