MADIS: 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.
MADIS
Largest movements
- Cash -€11,225
down €11,225 (-43.9%), from €25,541 to €14,317
mainly Debts after one year (-€31,024) and Tax, wage and social debts (-€10,988)
- Debts after one year -€31,024
down €31,024 (-25.9%), from €119,993 to €88,969
- Profit (loss) carried forward +€29,531
up €29,531 (+30.6%), from €96,463 to €125,995
- Tax, wage and social debts -€10,988
down €10,988 (-68.0%), from €16,158 to €5,170
- Financial income -€24,034
down €24,034 (-99.3%), from €24,201 to €168
- Gross operating margin -€3,920
down €3,920 (-7.8%), from €50,243 to €46,323
- Financial charges -€1,152
down €1,152 (-16.8%), from €6,841 to €5,689
- Taxes -€589
down €589 (-5.5%), from €10,791 to €10,203
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €269,872 | €258,664 | -€11,207 | -4.2% |
| Formation expenses | 20 | €529 | €302 | -€227 | -42.8% |
| Fixed assets | 21/28 | €240,376 | €240,000 | -€376 | -0.2% |
| Tangible fixed assets | 22/27 | €376 | €0 | -€376 | -100% |
| Furniture and vehicles | 24 | €376 | €0 | -€376 | -100% |
| Financial fixed assets | 28 | €240,000 | €240,000 | = | 0.0% |
| Current assets | 29/58 | €28,966 | €18,362 | -€10,604 | -36.6% |
| Amounts receivable within one year | 40/41 | €3,425 | €4,045 | +€620 | +18.1% |
| Trade receivables | 40 | €1 | €71 | +€70 | +14,044% |
| Other amounts receivable | 41 | €3,424 | €3,974 | +€550 | +16.1% |
| Cash at bank and in hand | 54/58 | €25,541 | €14,317 | -€11,225 | -43.9% |
| Total equity and liabilities | 10/49 | €269,872 | €258,664 | -€11,207 | -4.2% |
| Equity | 10/15 | €101,463 | €130,995 | +€29,531 | +29.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €96,463 | €125,995 | +€29,531 | +30.6% |
| Amounts payable | 17/49 | €168,408 | €127,670 | -€40,739 | -24.2% |
| Amounts payable after more than one year | 17 | €119,993 | €88,969 | -€31,024 | -25.9% |
| Financial debts | 170/4 | €119,993 | €88,969 | -€31,024 | -25.9% |
| Amounts payable within one year | 42/48 | €48,415 | €38,701 | -€9,714 | -20.1% |
| Financial debts | 43 | €32,257 | €33,531 | +€1,273 | +3.9% |
| Credit institutions | 430/8 | €32,257 | €33,531 | +€1,273 | +3.9% |
| Trade debts | 44 | - | €0 | +€0 | |
| Suppliers | 440/4 | - | €0 | +€0 | |
| Taxes, remuneration and social security | 45 | €16,158 | €5,170 | -€10,988 | -68.0% |
| Taxes | 450/3 | €16,158 | €5,170 | -€10,988 | -68.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €628 | €603 | -€25 | -4.0% |
| Other operating charges | 640/8 | €451 | €465 | +€14 | +3.2% |
| Gross operating margin | 9900 | €50,243 | €46,323 | -€3,920 | -7.8% |
| Operating profit (loss) | 9901 | €49,164 | €45,255 | -€3,909 | -8.0% |
| Financial income | 75/76B | €24,201 | €168 | -€24,034 | -99.3% |
| Recurring financial income | 75 | €24,201 | €168 | -€24,034 | -99.3% |
| Financial charges | 65/66B | €6,841 | €5,689 | -€1,152 | -16.8% |
| Recurring financial charges | 65 | €6,841 | €5,689 | -€1,152 | -16.8% |
| Profit (loss) for the period before taxes | 9903 | €66,525 | €39,734 | -€26,791 | -40.3% |
| Income taxes | 67/77 | €10,791 | €10,203 | -€589 | -5.5% |
| Profit (loss) for the period | 9904 | €55,733 | €29,531 | -€26,202 | -47.0% |
| Profit (loss) for the period to be appropriated | 9905 | €55,733 | €29,531 | -€26,202 | -47.0% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.