MADHAAN: 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.
MADHAAN
Largest movements
- Receivables within one year +€16,637
up €16,637 (+525%), from €3,167 to €19,804
- Stocks and contracts -€15,000
down €15,000 (-60.0%), from €25,000 to €10,000
- Cash +€3,050
up €3,050 (+45.9%), from €6,651 to €9,701
mainly Stocks and contracts (+€15,000) and Trade debts (+€7,541)
- Financial fixed assets -€1,285
down €1,285 (-29.7%), from €4,330 to €3,045
- Trade debts +€7,541
up €7,541 (+895%), from €843 to €8,384
- Profit (loss) carried forward -€3,395
down €3,395 (-12.4%), from €27,287 to €23,893
- Tax, wage and social debts -€744
down €744 (-12.4%), from €6,018 to €5,274
of which Taxes: -€2,491
- Gross operating margin -€18,098
down €18,098 (-91.7%), from €19,742 to €1,644
- Taxes -€3,368
down €3,368 (-100%), from €3,368 to €0
- Financial charges +€649
up €649 (+29.2%), from €2,221 to €2,870
- Other operating charges -€607
down €607 (-18.2%), from €3,334 to €2,727
- Financial income +€457
up €457 (+455%), from €101 to €558
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 | €39,148 | €42,550 | +€3,403 | +8.7% |
| Fixed assets | 21/28 | €4,330 | €3,045 | -€1,285 | -29.7% |
| Financial fixed assets | 28 | €4,330 | €3,045 | -€1,285 | -29.7% |
| Current assets | 29/58 | €34,818 | €39,505 | +€4,688 | +13.5% |
| Stocks and contracts in progress | 3 | €25,000 | €10,000 | -€15,000 | -60.0% |
| Stocks | 30/36 | €25,000 | €10,000 | -€15,000 | -60.0% |
| Amounts receivable within one year | 40/41 | €3,167 | €19,804 | +€16,637 | +525% |
| Other amounts receivable | 41 | €3,167 | €19,804 | +€16,637 | +525% |
| Cash at bank and in hand | 54/58 | €6,651 | €9,701 | +€3,050 | +45.9% |
| Total equity and liabilities | 10/49 | €39,148 | €42,550 | +€3,403 | +8.7% |
| Equity | 10/15 | €32,287 | €28,893 | -€3,395 | -10.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €27,287 | €23,893 | -€3,395 | -12.4% |
| Amounts payable | 17/49 | €6,861 | €13,658 | +€6,797 | +99.1% |
| Amounts payable within one year | 42/48 | €6,861 | €13,658 | +€6,797 | +99.1% |
| Trade debts | 44 | €843 | €8,384 | +€7,541 | +895% |
| Suppliers | 440/4 | €843 | €8,384 | +€7,541 | +895% |
| Taxes, remuneration and social security | 45 | €6,018 | €5,274 | -€744 | -12.4% |
| Taxes | 450/3 | €6,018 | €3,527 | -€2,491 | -41.4% |
| Remuneration and social security | 454/9 | €0 | €1,747 | +€1,747 | |
| Other operating charges | 640/8 | €3,334 | €2,727 | -€607 | -18.2% |
| Gross operating margin | 9900 | €19,742 | €1,644 | -€18,098 | -91.7% |
| Operating profit (loss) | 9901 | €16,408 | -€1,083 | -€17,491 | |
| Financial income | 75/76B | €101 | €558 | +€457 | +455% |
| Recurring financial income | 75 | €101 | €558 | +€457 | +455% |
| Financial charges | 65/66B | €2,221 | €2,870 | +€649 | +29.2% |
| Recurring financial charges | 65 | €2,221 | €2,870 | +€649 | +29.2% |
| Profit (loss) for the period before taxes | 9903 | €14,288 | -€3,395 | -€17,682 | |
| Income taxes | 67/77 | €3,368 | €0 | -€3,368 | -100% |
| Profit (loss) for the period | 9904 | €10,919 | -€3,395 | -€14,314 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,919 | -€3,395 | -€14,314 |
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 17 October 2026 via checked.be.