MADIMCO: 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.
MADIMCO
Largest movements
- Cash -€282,754
down €282,754 (-96.1%), from €294,187 to €11,433
mainly Receivables within one year (-€212,444) and Tax, wage and social debts (-€117,958)
- Receivables within one year +€212,444
up €212,444 (+259%), from €82,176 to €294,621
of which Trade receivables: +€212,033
- Stocks and contracts -€6,992
down €6,992 (-80.0%), from €8,740 to €1,748
- Tax, wage and social debts -€117,958
down €117,958 (-99.3%), from €118,821 to €864
- Other debts +€33,501
up €33,501 (+16.4%), from €203,713 to €237,214
- Trade debts +€7,057
up €7,057 (+17.2%), from €40,924 to €47,981
- Financial income -€81,018
down €81,018 (-99.8%), from €81,175 to €157
- Gross operating margin +€80,480
up €80,480, from -€75,718 to €4,762
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 | €385,103 | €307,802 | -€77,301 | -20.1% |
| Current assets | 29/58 | €385,103 | €307,802 | -€77,301 | -20.1% |
| Stocks and contracts in progress | 3 | €8,740 | €1,748 | -€6,992 | -80.0% |
| Stocks | 30/36 | €8,740 | €1,748 | -€6,992 | -80.0% |
| Amounts receivable within one year | 40/41 | €82,176 | €294,621 | +€212,444 | +259% |
| Trade receivables | 40 | €82,176 | €294,209 | +€212,033 | +258% |
| Other amounts receivable | 41 | - | €412 | +€412 | |
| Cash at bank and in hand | 54/58 | €294,187 | €11,433 | -€282,754 | -96.1% |
| Total equity and liabilities | 10/49 | €385,103 | €307,802 | -€77,301 | -20.1% |
| Equity | 10/15 | €21,645 | €21,743 | +€98 | +0.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,283 | €1,283 | = | 0.0% |
| Distributable reserves | 133 | €1,283 | €1,283 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,761 | €1,860 | +€98 | +5.6% |
| Amounts payable | 17/49 | €363,458 | €286,059 | -€77,400 | -21.3% |
| Amounts payable within one year | 42/48 | €363,458 | €286,059 | -€77,400 | -21.3% |
| Trade debts | 44 | €40,924 | €47,981 | +€7,057 | +17.2% |
| Suppliers | 440/4 | €40,924 | €47,981 | +€7,057 | +17.2% |
| Taxes, remuneration and social security | 45 | €118,821 | €864 | -€117,958 | -99.3% |
| Taxes | 450/3 | €118,821 | €864 | -€117,958 | -99.3% |
| Other amounts payable | 47/48 | €203,713 | €237,214 | +€33,501 | +16.4% |
| Other operating charges | 640/8 | €734 | €853 | +€118 | +16.1% |
| Gross operating margin | 9900 | -€75,718 | €4,762 | +€80,480 | |
| Operating profit (loss) | 9901 | -€76,452 | €3,909 | +€80,362 | |
| Financial income | 75/76B | €81,175 | €157 | -€81,018 | -99.8% |
| Recurring financial income | 75 | €81,175 | €157 | -€81,018 | -99.8% |
| Financial charges | 65/66B | €4,202 | €3,935 | -€268 | -6.4% |
| Recurring financial charges | 65 | €4,202 | €3,935 | -€268 | -6.4% |
| Profit (loss) for the period before taxes | 9903 | €520 | €131 | -€389 | -74.8% |
| Income taxes | 67/77 | €142 | €33 | -€109 | -76.8% |
| Profit (loss) for the period | 9904 | €379 | €98 | -€280 | -74.0% |
| Profit (loss) for the period to be appropriated | 9905 | €379 | €98 | -€280 | -74.0% |
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 20 October 2026 via checked.be.