MADISON GILLES: 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 GILLES
Largest movements
- Cash +€10,711
up €10,711 (+272%), from €3,940 to €14,651
mainly Net result for the year (+€16,580) and Depreciation (+€1,452)
- Receivables within one year +€5,178
up €5,178 (+187%), from €2,771 to €7,950
of which Trade receivables: +€3,623
- Deferred charges and accrued income +€1,054
up €1,054 (+192%), from €548 to €1,602
- Reserves +€16,580
up €16,580 (+763%), from €2,173 to €18,754
- Other debts +€784
up €784 (+54.3%), from €1,443 to €2,227
- Tax, wage and social debts -€543
down €543 (-100%), from €543 to €0
- Gross operating margin +€19,557
up €19,557 (+480%), from €4,073 to €23,630
- Taxes +€3,901
up €3,901 (+718%), from €543 to €4,445
- Other operating charges +€831
new in 2025: €831
- Financial charges +€331
up €331 (+5,085%), from €7 to €338
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 | €7,259 | €24,203 | +€16,943 | +233% |
| Current assets | 29/58 | €7,259 | €24,203 | +€16,943 | +233% |
| Amounts receivable within one year | 40/41 | €2,771 | €7,950 | +€5,178 | +187% |
| Trade receivables | 40 | €2,771 | €6,394 | +€3,623 | +131% |
| Other amounts receivable | 41 | - | €1,555 | +€1,555 | |
| Cash at bank and in hand | 54/58 | €3,940 | €14,651 | +€10,711 | +272% |
| Deferred charges and accrued income | 490/1 | €548 | €1,602 | +€1,054 | +192% |
| Total equity and liabilities | 10/49 | €7,259 | €24,203 | +€16,943 | +233% |
| Equity | 10/15 | €5,173 | €21,754 | +€16,580 | +320% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €2,173 | €18,754 | +€16,580 | +763% |
| Distributable reserves | 133 | €2,173 | €18,754 | +€16,580 | +763% |
| Amounts payable | 17/49 | €2,086 | €2,449 | +€363 | +17.4% |
| Amounts payable within one year | 42/48 | €2,086 | €2,449 | +€363 | +17.4% |
| Trade debts | 44 | €100 | €222 | +€122 | +122% |
| Suppliers | 440/4 | €100 | €222 | +€122 | +122% |
| Taxes, remuneration and social security | 45 | €543 | €0 | -€543 | -100% |
| Taxes | 450/3 | €543 | €0 | -€543 | -100% |
| Other amounts payable | 47/48 | €1,443 | €2,227 | +€784 | +54.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,350 | €1,452 | +€102 | +7.6% |
| Other operating charges | 640/8 | - | €831 | +€831 | |
| Gross operating margin | 9900 | €4,073 | €23,630 | +€19,557 | +480% |
| Operating profit (loss) | 9901 | €2,723 | €21,348 | +€18,624 | +684% |
| Financial income | 75/76B | - | €15 | +€15 | |
| Recurring financial income | 75 | - | €15 | +€15 | |
| Financial charges | 65/66B | €7 | €338 | +€331 | +5,085% |
| Recurring financial charges | 65 | €7 | €338 | +€331 | +5,085% |
| Profit (loss) for the period before taxes | 9903 | €2,717 | €21,025 | +€18,308 | +674% |
| Income taxes | 67/77 | €543 | €4,445 | +€3,901 | +718% |
| Profit (loss) for the period | 9904 | €2,173 | €16,580 | +€14,407 | +663% |
| Profit (loss) for the period to be appropriated | 9905 | €2,173 | €16,580 | +€14,407 | +663% |
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 22 October 2026 via checked.be.