Madimmo & Co: 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.
Madimmo & Co
Largest movements
- Tangible fixed assets -€172,137
down €172,137 (-6.8%), from €2.5m to €2.4m
of which Land and buildings: -€142,680
- Deferred charges and accrued income -€27,583
down €27,583 (-90.7%), from €30,410 to €2,826
- Debts after one year -€203,603
down €203,603 (-11.1%), from €1.8m to €1.6m
- Other operating charges -€18,956
down €18,956 (-92.9%), from €20,406 to €1,450
- Staff costs +€15,767
new in 2025: €15,767
- Financial charges -€8,462
down €8,462 (-15.8%), from €53,606 to €45,144
- Gross operating margin +€7,223
up €7,223 (+2.7%), from €263,189 to €270,412
- Depreciation +€4,597
up €4,597 (+2.6%), from €175,818 to €180,415
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 | €2,621,909 | €2,413,436 | -€208,474 | -8.0% |
| Fixed assets | 21/28 | €2,527,482 | €2,355,345 | -€172,137 | -6.8% |
| Tangible fixed assets | 22/27 | €2,527,482 | €2,355,345 | -€172,137 | -6.8% |
| Land and buildings | 22 | €2,409,784 | €2,267,105 | -€142,680 | -5.9% |
| Furniture and vehicles | 24 | €117,698 | €88,240 | -€29,458 | -25.0% |
| Current assets | 29/58 | €94,427 | €58,091 | -€36,336 | -38.5% |
| Amounts receivable within one year | 40/41 | €18,599 | €29,806 | +€11,207 | +60.3% |
| Trade receivables | 40 | €12,000 | €28,665 | +€16,665 | +139% |
| Other amounts receivable | 41 | €6,599 | €1,141 | -€5,458 | -82.7% |
| Cash at bank and in hand | 54/58 | €45,418 | €25,459 | -€19,960 | -43.9% |
| Deferred charges and accrued income | 490/1 | €30,410 | €2,826 | -€27,583 | -90.7% |
| Total equity and liabilities | 10/49 | €2,621,909 | €2,413,436 | -€208,474 | -8.0% |
| Equity | 10/15 | €427,381 | €424,595 | -€2,786 | -0.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €407,381 | €404,595 | -€2,786 | -0.7% |
| Distributable reserves | 133 | €407,381 | €404,595 | -€2,786 | -0.7% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €2,194,528 | €1,988,841 | -€205,687 | -9.4% |
| Amounts payable after more than one year | 17 | €1,828,567 | €1,624,964 | -€203,603 | -11.1% |
| Financial debts | 170/4 | €1,828,567 | €1,624,964 | -€203,603 | -11.1% |
| Amounts payable within one year | 42/48 | €365,961 | €363,877 | -€2,085 | -0.6% |
| Current portion of amounts payable after more than one year | 42 | €199,636 | €203,603 | +€3,967 | +2.0% |
| Trade debts | 44 | €189 | €187 | -€3 | -1.4% |
| Suppliers | 440/4 | €189 | €187 | -€3 | -1.4% |
| Taxes, remuneration and social security | 45 | €721 | €2,702 | +€1,981 | +275% |
| Taxes | 450/3 | €721 | €498 | -€223 | -30.9% |
| Remuneration and social security | 454/9 | - | €2,204 | +€2,204 | |
| Other amounts payable | 47/48 | €165,415 | €157,385 | -€8,030 | -4.9% |
| Remuneration, social security and pensions | 62 | - | €15,767 | +€15,767 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €175,818 | €180,415 | +€4,597 | +2.6% |
| Other operating charges | 640/8 | €20,406 | €1,450 | -€18,956 | -92.9% |
| Gross operating margin | 9900 | €263,189 | €270,412 | +€7,223 | +2.7% |
| Operating profit (loss) | 9901 | €66,965 | €72,780 | +€5,815 | +8.7% |
| Financial income | 75/76B | €1,684 | €0 | -€1,684 | -100.0% |
| Recurring financial income | 75 | €1,684 | €0 | -€1,684 | -100.0% |
| Financial charges | 65/66B | €53,606 | €45,144 | -€8,462 | -15.8% |
| Recurring financial charges | 65 | €53,606 | €45,144 | -€8,462 | -15.8% |
| Profit (loss) for the period before taxes | 9903 | €15,043 | €27,636 | +€12,593 | +83.7% |
| Income taxes | 67/77 | €530 | €423 | -€107 | -20.3% |
| Profit (loss) for the period | 9904 | €14,513 | €27,214 | +€12,700 | +87.5% |
| Profit (loss) for the period to be appropriated | 9905 | €14,513 | €27,214 | +€12,700 | +87.5% |
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 15 October 2026 via checked.be.