MADIMO: 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.
What changed
MADIMO
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€22,203
2024 · -€6,454+€28,657
Equity
€2.5m
2024 · €2.4m+€22,203
Cash
€635
2024 · €13,804-€13,169
Balance sheet total
€4.0m
2024 · €4.1m-€144,509
Largest movements
Assets
- Tangible fixed assets -€153,543
down €153,543 (-4.8%), from €3.2m to €3.0m
Equity and liabilities
- Debts after one year -€138,707
down €138,707 (-11.3%), from €1.2m to €1.1m
Income statement
- Other operating charges -€12,379
down €12,379 (-20.3%), from €61,019 to €48,640
- Gross operating margin +€9,743
up €9,743 (+3.3%), from €298,623 to €308,366
- Financial charges -€6,486
down €6,486 (-9.4%), from €68,671 to €62,185
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.
Result 2024
-€6,454
Gross operating margin
+€9,743
Depreciation
-€47
Other operating charges
+€12,379
Financial income
+€96
Financial charges
+€6,486
Result 2025
€22,203
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.
From operations
+€130,968
Investment
-€21,891
Financing
-€122,246
Cash 2024
€13,804
From operations (derived)
+€130,968
Net result for the year
+€22,203
Depreciation
+€175,433
Receivables within one year
-€20,435
Deferred charges and accrued income
-€1,768
Other debts
-€28,416
Accrued charges and deferred income
-€16,050
Investment (derived)
-€21,891
Investment in fixed assets (net)
-€21,891
Financing
-€122,246
Debts after one year
-€138,707
Current portion of long-term debt
+€16,462
Cash 2025
€635
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,133,341 | €3,988,832 | -€144,509 | -3.5% |
| Fixed assets | 21/28 | €4,097,088 | €3,943,546 | -€153,543 | -3.7% |
| Tangible fixed assets | 22/27 | €3,172,088 | €3,018,546 | -€153,543 | -4.8% |
| Land and buildings | 22 | €3,172,088 | €3,018,546 | -€153,543 | -4.8% |
| Financial fixed assets | 28 | €925,000 | €925,000 | = | 0.0% |
| Current assets | 29/58 | €36,252 | €45,286 | +€9,034 | +24.9% |
| Amounts receivable within one year | 40/41 | €500 | €20,935 | +€20,435 | +4087.0% |
| Other amounts receivable | 41 | €500 | €20,935 | +€20,435 | +4087.0% |
| Cash at bank and in hand | 54/58 | €13,804 | €635 | -€13,169 | -95.4% |
| Deferred charges and accrued income | 490/1 | €21,948 | €23,716 | +€1,768 | +8.1% |
| Total equity and liabilities | 10/49 | €4,133,341 | €3,988,832 | -€144,509 | -3.5% |
| Equity | 10/15 | €2,443,186 | €2,465,389 | +€22,203 | +0.9% |
| Contributions | 10/11 | €1,836,238 | €1,836,238 | = | 0.0% |
| Reserves | 13 | €606,948 | €629,151 | +€22,203 | +3.7% |
| Distributable reserves | 133 | €606,948 | €629,151 | +€22,203 | +3.7% |
| Amounts payable | 17/49 | €1,690,155 | €1,523,443 | -€166,712 | -9.9% |
| Amounts payable after more than one year | 17 | €1,229,092 | €1,090,384 | -€138,707 | -11.3% |
| Financial debts | 170/4 | €1,229,092 | €1,090,384 | -€138,707 | -11.3% |
| Amounts payable within one year | 42/48 | €413,467 | €401,513 | -€11,954 | -2.9% |
| Current portion of amounts payable after more than one year | 42 | €133,570 | €150,032 | +€16,462 | +12.3% |
| Taxes, remuneration and social security | 45 | €1,729 | €1,729 | = | 0.0% |
| Taxes | 450/3 | €1,729 | €1,729 | = | 0.0% |
| Other amounts payable | 47/48 | €278,168 | €249,752 | -€28,416 | -10.2% |
| Accrued charges and deferred income | 492/3 | €47,596 | €31,546 | -€16,050 | -33.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €175,386 | €175,433 | +€47 | 0.0% |
| Other operating charges | 640/8 | €61,019 | €48,640 | -€12,379 | -20.3% |
| Gross operating margin | 9900 | €298,623 | €308,366 | +€9,743 | +3.3% |
| Operating profit (loss) | 9901 | €62,217 | €84,292 | +€22,075 | +35.5% |
| Financial income | 75/76B | - | €96 | +€96 | |
| Recurring financial income | 75 | - | €96 | +€96 | |
| Financial charges | 65/66B | €68,671 | €62,185 | -€6,486 | -9.4% |
| Recurring financial charges | 65 | €68,671 | €62,185 | -€6,486 | -9.4% |
| Profit (loss) for the period before taxes | 9903 | -€6,454 | €22,203 | +€28,657 | |
| Profit (loss) for the period | 9904 | -€6,454 | €22,203 | +€28,657 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,454 | €22,203 | +€28,657 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.