MADJI: 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.
MADJI
Largest movements
- Receivables within one year +€8,487
up €8,487 (+22.5%), from €37,784 to €46,270
- Cash -€3,582
down €3,582 (-38.5%), from €9,300 to €5,718
mainly Receivables within one year (-€8,487) and Trade debts (-€968)
- Profit (loss) carried forward +€6,762
up €6,762 (+25.5%), from €26,493 to €33,255
- Trade debts -€968
down €968 (-46.9%), from €2,064 to €1,096
- Tax, wage and social debts -€889
no longer reported in 2025 (was €889)
- Turnover +€4,873
up €4,873 (+8.2%), from €59,196 to €64,069
- Financial charges -€3,365
down €3,365 (-90.5%), from €3,717 to €352
of which Non-recurring financial charges: -€3,542
- Purchases and services +€3,088
up €3,088 (+6.2%), from €49,633 to €52,721
- Gross operating margin +€2,619
up €2,619 (+19.5%), from €13,409 to €16,028
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 | €47,206 | €52,111 | +€4,905 | +10.4% |
| Fixed assets | 21/28 | €122 | €122 | = | 0.0% |
| Financial fixed assets | 28 | €122 | €122 | = | 0.0% |
| Current assets | 29/58 | €47,084 | €51,988 | +€4,905 | +10.4% |
| Amounts receivable within one year | 40/41 | €37,784 | €46,270 | +€8,487 | +22.5% |
| Other amounts receivable | 41 | €37,784 | €46,270 | +€8,487 | +22.5% |
| Cash at bank and in hand | 54/58 | €9,300 | €5,718 | -€3,582 | -38.5% |
| Total equity and liabilities | 10/49 | €47,206 | €52,111 | +€4,905 | +10.4% |
| Equity | 10/15 | €42,253 | €49,015 | +€6,762 | +16.0% |
| Contributions | 10/11 | €15,122 | €15,122 | = | 0.0% |
| Reserves | 13 | €639 | €639 | = | 0.0% |
| Non-distributable reserves | 130/1 | €639 | €639 | = | 0.0% |
| Reserves not available under the articles | 1311 | €639 | €639 | = | 0.0% |
| Profit (loss) carried forward | 14 | €26,493 | €33,255 | +€6,762 | +25.5% |
| Amounts payable | 17/49 | €4,953 | €3,096 | -€1,857 | -37.5% |
| Amounts payable within one year | 42/48 | €4,953 | €3,096 | -€1,857 | -37.5% |
| Trade debts | 44 | €2,064 | €1,096 | -€968 | -46.9% |
| Suppliers | 440/4 | €2,064 | €1,096 | -€968 | -46.9% |
| Taxes, remuneration and social security | 45 | €889 | - | -€889 | |
| Remuneration and social security | 454/9 | €889 | - | -€889 | |
| Other amounts payable | 47/48 | €2,000 | €2,000 | = | 0.0% |
| Turnover | 70 | €59,196 | €64,069 | +€4,873 | +8.2% |
| Goods, raw materials, services and sundry goods | 60/61 | €49,633 | €52,721 | +€3,088 | +6.2% |
| Remuneration, social security and pensions | 62 | €8,393 | €8,393 | = | 0.0% |
| Other operating charges | 640/8 | €868 | €521 | -€347 | -39.9% |
| Gross operating margin | 9900 | €13,409 | €16,028 | +€2,619 | +19.5% |
| Operating profit (loss) | 9901 | €4,148 | €7,114 | +€2,966 | +71.5% |
| Financial charges | 65/66B | €3,717 | €352 | -€3,365 | -90.5% |
| Recurring financial charges | 65 | €175 | €352 | +€177 | +101.0% |
| Non-recurring financial charges | 66B | €3,542 | - | -€3,542 | |
| Profit (loss) for the period before taxes | 9903 | €431 | €6,762 | +€6,331 | +1469.3% |
| Profit (loss) for the period | 9904 | €431 | €6,762 | +€6,331 | +1469.3% |
| Profit (loss) for the period to be appropriated | 9905 | €431 | €6,762 | +€6,331 | +1469.3% |
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 30 September 2026 via checked.be.