MADITEL: 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.
MADITEL
Largest movements
- Stocks and contracts +€57,933
up €57,933 (+65.2%), from €88,850 to €146,784
- Receivables within one year -€50,205
down €50,205 (-27.1%), from €184,968 to €134,763
of which Trade receivables: -€53,387
- Financial fixed assets -€23,957
down €23,957 (-99.0%), from €24,197 to €240
- Tangible fixed assets -€23,012
down €23,012 (-65.5%), from €35,145 to €12,133
of which Assets under construction and advance payments: -€25,000
- Current investments +€10,417
new in 2024: €10,417
- Trade debts -€456,011
down €456,011 (-96.7%), from €471,739 to €15,728
- Debts after one year +€435,600
new in 2024: €435,600
- Profit (loss) carried forward -€7,545
down €7,545 (-19.2%), from -€39,358 to -€46,903
- Taxes +€38,033
new in 2024: €38,033
- Other operating charges +€20,661
up €20,661 (+2459.4%), from €840 to €21,501
- Depreciation +€3,567
up €3,567 (+69.3%), from €5,145 to €8,712
From the 2023 result to the 2024 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.
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €457,326 | €427,018 | -€30,308 | -6.6% |
| Fixed assets | 21/28 | €59,342 | €12,373 | -€46,969 | -79.2% |
| Tangible fixed assets | 22/27 | €35,145 | €12,133 | -€23,012 | -65.5% |
| Furniture and vehicles | 24 | €5,145 | €7,133 | +€1,988 | +38.6% |
| Assets under construction and advance payments | 27 | €30,000 | €5,000 | -€25,000 | -83.3% |
| Financial fixed assets | 28 | €24,197 | €240 | -€23,957 | -99.0% |
| Current assets | 29/58 | €397,985 | €414,646 | +€16,661 | +4.2% |
| Stocks and contracts in progress | 3 | €88,850 | €146,784 | +€57,933 | +65.2% |
| Stocks | 30/36 | €88,850 | €146,784 | +€57,933 | +65.2% |
| Amounts receivable within one year | 40/41 | €184,968 | €134,763 | -€50,205 | -27.1% |
| Trade receivables | 40 | €171,705 | €118,318 | -€53,387 | -31.1% |
| Other amounts receivable | 41 | €13,264 | €16,446 | +€3,182 | +24.0% |
| Current investments | 50/53 | - | €10,417 | +€10,417 | |
| Cash at bank and in hand | 54/58 | €123,493 | €122,681 | -€811 | -0.7% |
| Deferred charges and accrued income | 490/1 | €673 | - | -€673 | |
| Total equity and liabilities | 10/49 | €457,326 | €427,018 | -€30,308 | -6.6% |
| Equity | 10/15 | -€18,898 | -€26,443 | -€7,545 | -39.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€39,358 | -€46,903 | -€7,545 | -19.2% |
| Amounts payable | 17/49 | €476,224 | €453,462 | -€22,763 | -4.8% |
| Amounts payable after more than one year | 17 | - | €435,600 | +€435,600 | |
| Trade debts | 175 | - | €435,600 | +€435,600 | |
| Amounts payable within one year | 42/48 | €476,224 | €17,846 | -€458,378 | -96.3% |
| Trade debts | 44 | €471,739 | €15,728 | -€456,011 | -96.7% |
| Suppliers | 440/4 | €471,739 | €15,728 | -€456,011 | -96.7% |
| Taxes, remuneration and social security | 45 | €4,473 | €2,106 | -€2,367 | -52.9% |
| Taxes | 450/3 | €473 | €473 | = | 0.0% |
| Remuneration and social security | 454/9 | €4,000 | €1,633 | -€2,367 | -59.2% |
| Other amounts payable | 47/48 | €13 | €13 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €16 | +€16 | |
| Remuneration, social security and pensions | 62 | €28,000 | €28,800 | +€800 | +2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,145 | €8,712 | +€3,567 | +69.3% |
| Other operating charges | 640/8 | €840 | €21,501 | +€20,661 | +2459.4% |
| Non-recurring operating charges | 66A | €3,827 | - | -€3,827 | |
| Gross operating margin | 9900 | €88,979 | €89,629 | +€650 | +0.7% |
| Operating profit (loss) | 9901 | €51,167 | €30,616 | -€20,551 | -40.2% |
| Financial income | 75/76B | €14 | €293 | +€279 | +1979.0% |
| Recurring financial income | 75 | €14 | €293 | +€279 | +1979.0% |
| Financial charges | 65/66B | €548 | €422 | -€126 | -23.0% |
| Recurring financial charges | 65 | €548 | €422 | -€126 | -23.0% |
| Profit (loss) for the period before taxes | 9903 | €50,633 | €30,488 | -€20,146 | -39.8% |
| Income taxes | 67/77 | - | €38,033 | +€38,033 | |
| Profit (loss) for the period | 9904 | €50,633 | -€7,545 | -€58,178 | |
| Profit (loss) for the period to be appropriated | 9905 | €50,633 | -€7,545 | -€58,178 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.