MADETA: what changed
Two fiscal 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.
MADETA
Largest movements
- Cash -€49,436
down €49,436 (-93.6%), from €52,828 to €3,392
mainly Stocks and contracts (-€49,107) and Tax, wage and social debts (-€30,176)
- Stocks and contracts +€49,107
up €49,107 (+38.4%), from €127,940 to €177,048
- Receivables within one year -€13,705
down €13,705 (-26.0%), from €52,743 to €39,038
of which Trade receivables: -€12,246
- Tangible fixed assets -€2,496
down €2,496 (-41.0%), from €6,087 to €3,591
of which Other tangible fixed assets: -€1,706
- Tax, wage and social debts -€30,176
down €30,176 (-61.2%), from €49,285 to €19,109
of which Taxes: -€27,530
- Other debts -€26,571
down €26,571 (-59.2%), from €44,864 to €18,293
- Profit (loss) carried forward +€25,166
up €25,166 (+50.2%), from €50,092 to €75,258
- Trade debts +€20,123
up €20,123 (+28.8%), from €69,772 to €89,895
- Current portion of long-term debt -€4,641
down €4,641 (-91.6%), from €5,065 to €424
- Gross operating margin -€49,433
down €49,433 (-40.3%), from €122,536 to €73,103
- Staff costs -€29,682
down €29,682 (-45.3%), from €65,539 to €35,857
- Taxes -€5,670
down €5,670 (-39.0%), from €14,539 to €8,869
- Financial income -€1,404
down €1,404 (-73.1%), from €1,921 to €516
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 | €239,961 | €223,439 | -€16,523 | -6.9% |
| Fixed assets | 21/28 | €6,247 | €3,751 | -€2,496 | -40.0% |
| Tangible fixed assets | 22/27 | €6,087 | €3,591 | -€2,496 | -41.0% |
| Plant, machinery and equipment | 23 | €970 | €475 | -€495 | -51.1% |
| Furniture and vehicles | 24 | €304 | €9 | -€294 | -96.9% |
| Other tangible fixed assets | 26 | €4,813 | €3,106 | -€1,706 | -35.5% |
| Financial fixed assets | 28 | €160 | €160 | = | 0.0% |
| Current assets | 29/58 | €233,715 | €219,688 | -€14,027 | -6.0% |
| Stocks and contracts in progress | 3 | €127,940 | €177,048 | +€49,107 | +38.4% |
| Stocks | 30/36 | €127,940 | €177,048 | +€49,107 | +38.4% |
| Amounts receivable within one year | 40/41 | €52,743 | €39,038 | -€13,705 | -26.0% |
| Trade receivables | 40 | €37,384 | €25,138 | -€12,246 | -32.8% |
| Other amounts receivable | 41 | €15,359 | €13,900 | -€1,460 | -9.5% |
| Cash at bank and in hand | 54/58 | €52,828 | €3,392 | -€49,436 | -93.6% |
| Deferred charges and accrued income | 490/1 | €203 | €210 | +€7 | +3.4% |
| Total equity and liabilities | 10/49 | €239,961 | €223,439 | -€16,523 | -6.9% |
| Equity | 10/15 | €70,552 | €95,718 | +€25,166 | +35.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €50,092 | €75,258 | +€25,166 | +50.2% |
| Amounts payable | 17/49 | €169,409 | €127,721 | -€41,688 | -24.6% |
| Amounts payable after more than one year | 17 | €424 | - | -€424 | |
| Financial debts | 170/4 | €424 | - | -€424 | |
| Amounts payable within one year | 42/48 | €168,985 | €127,721 | -€41,264 | -24.4% |
| Current portion of amounts payable after more than one year | 42 | €5,065 | €424 | -€4,641 | -91.6% |
| Trade debts | 44 | €69,772 | €89,895 | +€20,123 | +28.8% |
| Suppliers | 440/4 | €69,772 | €89,895 | +€20,123 | +28.8% |
| Taxes, remuneration and social security | 45 | €49,285 | €19,109 | -€30,176 | -61.2% |
| Taxes | 450/3 | €43,067 | €15,536 | -€27,530 | -63.9% |
| Remuneration and social security | 454/9 | €6,218 | €3,573 | -€2,646 | -42.5% |
| Other amounts payable | 47/48 | €44,864 | €18,293 | -€26,571 | -59.2% |
| Remuneration, social security and pensions | 62 | €65,539 | €35,857 | -€29,682 | -45.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,966 | €2,496 | -€470 | -15.8% |
| Other operating charges | 640/8 | €731 | €420 | -€311 | -42.5% |
| Gross operating margin | 9900 | €122,536 | €73,103 | -€49,433 | -40.3% |
| Operating profit (loss) | 9901 | €53,301 | €34,330 | -€18,970 | -35.6% |
| Financial income | 75/76B | €1,921 | €516 | -€1,404 | -73.1% |
| Recurring financial income | 75 | €1,921 | €516 | -€1,404 | -73.1% |
| Financial charges | 65/66B | €1,127 | €812 | -€316 | -28.0% |
| Recurring financial charges | 65 | €1,127 | €812 | -€316 | -28.0% |
| Profit (loss) for the period before taxes | 9903 | €54,094 | €34,035 | -€20,059 | -37.1% |
| Income taxes | 67/77 | €14,539 | €8,869 | -€5,670 | -39.0% |
| Profit (loss) for the period | 9904 | €39,554 | €25,166 | -€14,389 | -36.4% |
| Profit (loss) for the period to be appropriated | 9905 | €39,554 | €25,166 | -€14,389 | -36.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.