MADITUM: 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.
MADITUM
Largest movements
- Cash +€83,695
up €83,695 (+146.1%), from €57,291 to €140,987
mainly Other debts (+€78,585) and Depreciation (+€22,665)
- Tangible fixed assets +€38,467
up €38,467 (+80.8%), from €47,595 to €86,061
- Receivables within one year -€18,165
no longer reported in 2025 (was €18,165)
of which Trade receivables: -€18,150
- Other debts +€78,585
up €78,585 (+18.7%), from €420,651 to €499,236
- Tax, wage and social debts +€16,313
up €16,313 (+151.9%), from €10,739 to €27,052
- Reserves +€9,500
up €9,500 (+70.2%), from €13,535 to €23,035
- Gross operating margin +€42,556
up €42,556 (+152.3%), from €27,948 to €70,504
- Other operating charges +€17,393
up €17,393 (+366.8%), from €4,741 to €22,134
- Taxes +€14,112
up €14,112 (+937.5%), from €1,505 to €15,618
- Depreciation +€12,800
up €12,800 (+129.7%), from €9,865 to €22,665
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €474,667 | €578,664 | +€103,997 | +21.9% |
| Fixed assets | 21/28 | €399,211 | €437,677 | +€38,467 | +9.6% |
| Tangible fixed assets | 22/27 | €47,595 | €86,061 | +€38,467 | +80.8% |
| Furniture and vehicles | 24 | €47,595 | €86,061 | +€38,467 | +80.8% |
| Financial fixed assets | 28 | €351,616 | €351,616 | = | 0.0% |
| Current assets | 29/58 | €75,456 | €140,987 | +€65,530 | +86.8% |
| Amounts receivable within one year | 40/41 | €18,165 | - | -€18,165 | |
| Trade receivables | 40 | €18,150 | - | -€18,150 | |
| Other amounts receivable | 41 | €15 | - | -€15 | |
| Cash at bank and in hand | 54/58 | €57,291 | €140,987 | +€83,695 | +146.1% |
| Total equity and liabilities | 10/49 | €474,667 | €578,664 | +€103,997 | +21.9% |
| Equity | 10/15 | €42,816 | €52,376 | +€9,560 | +22.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €13,535 | €23,035 | +€9,500 | +70.2% |
| Distributable reserves | 133 | €13,535 | €23,035 | +€9,500 | +70.2% |
| Profit (loss) carried forward | 14 | €10,681 | €10,741 | +€60 | +0.6% |
| Amounts payable | 17/49 | €431,852 | €526,288 | +€94,437 | +21.9% |
| Amounts payable within one year | 42/48 | €431,852 | €526,288 | +€94,437 | +21.9% |
| Trade debts | 44 | €461 | - | -€461 | |
| Suppliers | 440/4 | €461 | - | -€461 | |
| Taxes, remuneration and social security | 45 | €10,739 | €27,052 | +€16,313 | +151.9% |
| Taxes | 450/3 | €10,739 | €27,052 | +€16,313 | +151.9% |
| Other amounts payable | 47/48 | €420,651 | €499,236 | +€78,585 | +18.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,865 | €22,665 | +€12,800 | +129.7% |
| Other operating charges | 640/8 | €4,741 | €22,134 | +€17,393 | +366.8% |
| Gross operating margin | 9900 | €27,948 | €70,504 | +€42,556 | +152.3% |
| Operating profit (loss) | 9901 | €13,341 | €25,705 | +€12,363 | +92.7% |
| Financial income | 75/76B | - | €231 | +€231 | |
| Recurring financial income | 75 | - | €231 | +€231 | |
| Financial charges | 65/66B | €161 | €758 | +€598 | +371.6% |
| Recurring financial charges | 65 | €161 | €758 | +€598 | +371.6% |
| Profit (loss) for the period before taxes | 9903 | €13,180 | €25,178 | +€11,997 | +91.0% |
| Income taxes | 67/77 | €1,505 | €15,618 | +€14,112 | +937.5% |
| Profit (loss) for the period | 9904 | €11,675 | €9,560 | -€2,115 | -18.1% |
| Profit (loss) for the period to be appropriated | 9905 | €11,675 | €9,560 | -€2,115 | -18.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.