MADESMA STABLES: what changed
What changed
MADESMA STABLES
NACE 01.430, Raising of horses and other equines
filed annual accounts (NBB)
Net result for the year
-€39,722
2024 · -€23,758-€15,964
Equity
€1.1m
2024 · €1.1m-€39,722
Cash
€10,580
2024 · €24,984-€14,404
Balance sheet total
€1.2m
2024 · €1.3m-€24,405
Largest movements
Assets
- Cash -€14,404
down €14,404 (-57.7%), from €24,984 to €10,580
mainly Net result for the year (-€39,722) and Trade debts (-€3,389)
Equity and liabilities
- Profit (loss) carried forward -€39,722
down €39,722 (-62.1%), from -€64,004 to -€103,725
- Other debts +€20,000
up €20,000 (+16.5%), from €121,091 to €141,091
Income statement
- Gross operating margin -€17,440
down €17,440 (-84.7%), from -€20,602 to -€38,043
- Financial charges -€908
down €908 (-56.3%), from €1,611 to €704
- Other operating charges -€570
down €570 (-36.9%), from €1,545 to €975
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€23,758
Gross operating margin
-€17,440
Other operating charges
+€570
Financial income
-€1
Financial charges
+€908
Result 2025
-€39,722
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€14,404
Investment
€0
Financing
€0
Cash 2024
€24,984
From operations (derived)
-€14,404
Net result for the year
-€39,722
Receivables within one year
+€9,973
Deferred charges and accrued income
+€28
Trade debts
-€3,389
Tax, wage and social debts
-€1,294
Other debts
+€20,000
Cash 2025
€10,580
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,271,302 | €1,246,896 | -€24,405 | -1.9% |
| Fixed assets | 21/28 | €1,179,058 | €1,179,058 | = | 0.0% |
| Tangible fixed assets | 22/27 | €1,179,058 | €1,179,058 | = | 0.0% |
| Land and buildings | 22 | €1,179,058 | €1,179,058 | = | 0.0% |
| Current assets | 29/58 | €92,244 | €67,838 | -€24,405 | -26.5% |
| Stocks and contracts in progress | 3 | €47,750 | €47,750 | = | 0.0% |
| Stocks | 30/36 | €47,750 | €47,750 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €16,586 | €6,613 | -€9,973 | -60.1% |
| Trade receivables | 40 | €16,586 | €1,295 | -€15,291 | -92.2% |
| Other amounts receivable | 41 | - | €5,318 | +€5,318 | |
| Cash at bank and in hand | 54/58 | €24,984 | €10,580 | -€14,404 | -57.7% |
| Deferred charges and accrued income | 490/1 | €2,923 | €2,895 | -€28 | -1.0% |
| Total equity and liabilities | 10/49 | €1,271,302 | €1,246,896 | -€24,405 | -1.9% |
| Equity | 10/15 | €1,144,844 | €1,105,122 | -€39,722 | -3.5% |
| Contributions | 10/11 | €1,194,058 | €1,194,058 | = | 0.0% |
| Reserves | 13 | €14,789 | €14,789 | = | 0.0% |
| Distributable reserves | 133 | €14,789 | €14,789 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€64,004 | -€103,725 | -€39,722 | -62.1% |
| Amounts payable | 17/49 | €126,458 | €141,774 | +€15,316 | +12.1% |
| Amounts payable within one year | 42/48 | €126,458 | €141,774 | +€15,316 | +12.1% |
| Trade debts | 44 | €3,768 | €379 | -€3,389 | -89.9% |
| Suppliers | 440/4 | €3,768 | €379 | -€3,389 | -89.9% |
| Taxes, remuneration and social security | 45 | €1,598 | €304 | -€1,294 | -81.0% |
| Taxes | 450/3 | €1,598 | €304 | -€1,294 | -81.0% |
| Other amounts payable | 47/48 | €121,091 | €141,091 | +€20,000 | +16.5% |
| Non-recurring operating income | 76A | €13,003 | - | -€13,003 | |
| Other operating charges | 640/8 | €1,545 | €975 | -€570 | -36.9% |
| Gross operating margin | 9900 | -€20,602 | -€38,043 | -€17,440 | -84.7% |
| Operating profit (loss) | 9901 | -€22,147 | -€39,018 | -€16,871 | -76.2% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €1,611 | €704 | -€908 | -56.3% |
| Recurring financial charges | 65 | €1,611 | €704 | -€908 | -56.3% |
| Profit (loss) for the period before taxes | 9903 | -€23,758 | -€39,722 | -€15,964 | -67.2% |
| Profit (loss) for the period | 9904 | -€23,758 | -€39,722 | -€15,964 | -67.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€23,758 | -€39,722 | -€15,964 | -67.2% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.