MADISON CONSULT: 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.
MADISON CONSULT
Largest movements
- Receivables within one year +€17,287
up €17,287 (+8.2%), from €212,093 to €229,381
of which Trade receivables: +€15,319
- Tangible fixed assets -€10,361
down €10,361 (-15.7%), from €65,921 to €55,560
of which Furniture and vehicles: -€7,316
- Current investments -€9,370
no longer reported in 2025 (was €9,370)
- Other debts -€39,000
down €39,000 (-90.7%), from €43,000 to €4,000
- Reserves +€26,140
up €26,140 (+8.4%), from €311,960 to €338,100
of which Distributable reserves: +€28,000
- Tax, wage and social debts +€14,999
up €14,999 (+342%), from €4,389 to €19,388
- Debts after one year -€9,328
down €9,328 (-66.4%), from €14,056 to €4,728
- Gross operating margin -€42,738
down €42,738 (-54.3%), from €78,757 to €36,019
- Taxes -€10,534
down €10,534 (-47.2%), from €22,334 to €11,800
- Financial income +€8,792
up €8,792 (+77.1%), from €11,399 to €20,191
- Financial charges +€2,447
up €2,447 (+120%), from €2,045 to €4,492
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 | €406,384 | €403,941 | -€2,443 | -0.6% |
| Fixed assets | 21/28 | €65,921 | €55,560 | -€10,361 | -15.7% |
| Tangible fixed assets | 22/27 | €65,921 | €55,560 | -€10,361 | -15.7% |
| Land and buildings | 22 | €45,593 | €43,230 | -€2,363 | -5.2% |
| Plant, machinery and equipment | 23 | €2,041 | €1,358 | -€683 | -33.5% |
| Furniture and vehicles | 24 | €18,288 | €10,972 | -€7,316 | -40.0% |
| Current assets | 29/58 | €340,463 | €348,381 | +€7,918 | +2.3% |
| Amounts receivable after more than one year | 29 | €119,000 | €119,000 | = | 0.0% |
| Other amounts receivable | 291 | €119,000 | €119,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €212,093 | €229,381 | +€17,287 | +8.2% |
| Trade receivables | 40 | €13,721 | €29,039 | +€15,319 | +112% |
| Other amounts receivable | 41 | €198,373 | €200,341 | +€1,969 | +1.0% |
| Current investments | 50/53 | €9,370 | - | -€9,370 | |
| Cash at bank and in hand | 54/58 | - | €0 | +€0 | |
| Total equity and liabilities | 10/49 | €406,384 | €403,941 | -€2,443 | -0.6% |
| Equity | 10/15 | €325,210 | €353,972 | +€28,762 | +8.8% |
| Contributions | 10/11 | €12,395 | €14,255 | +€1,860 | +15.0% |
| Reserves | 13 | €311,960 | €338,100 | +€26,140 | +8.4% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €310,100 | €338,100 | +€28,000 | +9.0% |
| Profit (loss) carried forward | 14 | €856 | €1,618 | +€762 | +89.1% |
| Amounts payable | 17/49 | €81,174 | €49,968 | -€31,205 | -38.4% |
| Amounts payable after more than one year | 17 | €14,056 | €4,728 | -€9,328 | -66.4% |
| Financial debts | 170/4 | €14,056 | €4,728 | -€9,328 | -66.4% |
| Amounts payable within one year | 42/48 | €67,118 | €45,241 | -€21,877 | -32.6% |
| Current portion of amounts payable after more than one year | 42 | €9,160 | €9,328 | +€168 | +1.8% |
| Financial debts | 43 | €6,569 | €8,427 | +€1,857 | +28.3% |
| Credit institutions | 430/8 | €6,569 | €8,427 | +€1,857 | +28.3% |
| Trade debts | 44 | €3,999 | €4,098 | +€99 | +2.5% |
| Suppliers | 440/4 | €3,999 | €4,098 | +€99 | +2.5% |
| Taxes, remuneration and social security | 45 | €4,389 | €19,388 | +€14,999 | +342% |
| Taxes | 450/3 | €4,389 | €19,388 | +€14,999 | +342% |
| Other amounts payable | 47/48 | €43,000 | €4,000 | -€39,000 | -90.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,908 | €10,361 | -€546 | -5.0% |
| Other operating charges | 640/8 | €607 | €795 | +€188 | +31.0% |
| Gross operating margin | 9900 | €78,757 | €36,019 | -€42,738 | -54.3% |
| Operating profit (loss) | 9901 | €67,243 | €24,863 | -€42,380 | -63.0% |
| Financial income | 75/76B | €11,399 | €20,191 | +€8,792 | +77.1% |
| Recurring financial income | 75 | €11,399 | €20,191 | +€8,792 | +77.1% |
| Financial charges | 65/66B | €2,045 | €4,492 | +€2,447 | +120% |
| Recurring financial charges | 65 | €2,045 | €4,492 | +€2,447 | +120% |
| Profit (loss) for the period before taxes | 9903 | €76,597 | €40,562 | -€36,035 | -47.0% |
| Income taxes | 67/77 | €22,334 | €11,800 | -€10,534 | -47.2% |
| Profit (loss) for the period | 9904 | €54,263 | €28,762 | -€25,501 | -47.0% |
| Profit (loss) for the period to be appropriated | 9905 | €54,263 | €28,762 | -€25,501 | -47.0% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.