MADfin Consulting: 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.
MADfin Consulting
Largest movements
- Receivables within one year -€198,040
down €198,040 (-84.3%), from €234,912 to €36,872
of which Trade receivables: -€196,955
- Cash -€39,727
down €39,727 (-37.2%), from €106,815 to €67,089
mainly Advances received (-€68,216) and Trade debts (-€59,146)
- Advances received -€68,216
no longer reported in 2025 (was €68,216)
- Trade debts -€59,146
down €59,146 (-96.6%), from €61,231 to €2,085
- Profit (loss) carried forward -€57,885
new in 2025: -€57,885
- Other debts -€39,386
down €39,386 (-63.0%), from €62,504 to €23,118
- Tax, wage and social debts -€18,959
down €18,959 (-94.4%), from €20,084 to €1,125
- Gross operating margin -€200,272
down €200,272, from €148,137 to -€52,135
- Taxes -€20,885
down €20,885 (-99.4%), from €21,005 to €120
- Other operating charges -€11,480
down €11,480 (-96.6%), from €11,880 to €400
- Depreciation -€3,204
down €3,204 (-39.2%), from €8,163 to €4,959
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 | €354,534 | €110,942 | -€243,592 | -68.7% |
| Fixed assets | 21/28 | €11,277 | €6,317 | -€4,959 | -44.0% |
| Intangible fixed assets | 21 | €5,233 | €2,303 | -€2,929 | -56.0% |
| Tangible fixed assets | 22/27 | €6,044 | €4,014 | -€2,030 | -33.6% |
| Plant, machinery and equipment | 23 | €2,546 | €2,173 | -€373 | -14.7% |
| Furniture and vehicles | 24 | €3,498 | €1,841 | -€1,657 | -47.4% |
| Current assets | 29/58 | €343,257 | €104,625 | -€238,632 | -69.5% |
| Amounts receivable within one year | 40/41 | €234,912 | €36,872 | -€198,040 | -84.3% |
| Trade receivables | 40 | €197,164 | €209 | -€196,955 | -99.9% |
| Other amounts receivable | 41 | €37,748 | €36,663 | -€1,085 | -2.9% |
| Cash at bank and in hand | 54/58 | €106,815 | €67,089 | -€39,727 | -37.2% |
| Deferred charges and accrued income | 490/1 | €1,530 | €664 | -€866 | -56.6% |
| Total equity and liabilities | 10/49 | €354,534 | €110,942 | -€243,592 | -68.7% |
| Equity | 10/15 | €142,500 | €84,615 | -€57,885 | -40.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €137,500 | €137,500 | = | 0.0% |
| Distributable reserves | 133 | €137,500 | €137,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€57,885 | -€57,885 | |
| Amounts payable | 17/49 | €212,034 | €26,327 | -€185,707 | -87.6% |
| Amounts payable within one year | 42/48 | €212,034 | €26,327 | -€185,707 | -87.6% |
| Trade debts | 44 | €61,231 | €2,085 | -€59,146 | -96.6% |
| Suppliers | 440/4 | €61,231 | €2,085 | -€59,146 | -96.6% |
| Advances received on contracts in progress | 46 | €68,216 | - | -€68,216 | |
| Taxes, remuneration and social security | 45 | €20,084 | €1,125 | -€18,959 | -94.4% |
| Taxes | 450/3 | €20,084 | €1,125 | -€18,959 | -94.4% |
| Other amounts payable | 47/48 | €62,504 | €23,118 | -€39,386 | -63.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,163 | €4,959 | -€3,204 | -39.2% |
| Other operating charges | 640/8 | €11,880 | €400 | -€11,480 | -96.6% |
| Gross operating margin | 9900 | €148,137 | -€52,135 | -€200,272 | |
| Operating profit (loss) | 9901 | €128,094 | -€57,494 | -€185,588 | |
| Financial income | 75/76B | €115 | - | -€115 | |
| Recurring financial income | 75 | €115 | - | -€115 | |
| Financial charges | 65/66B | €219 | €271 | +€52 | +24.0% |
| Recurring financial charges | 65 | €219 | €271 | +€52 | +24.0% |
| Profit (loss) for the period before taxes | 9903 | €127,991 | -€57,765 | -€185,756 | |
| Income taxes | 67/77 | €21,005 | €120 | -€20,885 | -99.4% |
| Profit (loss) for the period | 9904 | €106,986 | -€57,885 | -€164,871 | |
| Profit (loss) for the period to be appropriated | 9905 | €106,986 | -€57,885 | -€164,871 |
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 23 October 2026 via checked.be.