MADLINE: 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.
MADLINE
Largest movements
- Cash -€59,860
down €59,860 (-38.2%), from €156,683 to €96,822
mainly Debts after one year (-€105,000) and Contributions, distributions and other (-€100,000)
- Receivables within one year +€5,093
up €5,093 (+16.5%), from €30,865 to €35,958
of which Trade receivables: +€4,051
- Tangible fixed assets +€3,050
up €3,050 (+246.8%), from €1,236 to €4,286
- Debts after one year -€105,000
down €105,000 (-100.0%), from €105,000 to €0
- Other debts +€85,033
new in 2025: €85,033
- Reserves -€51,348
down €51,348 (-76.1%), from €67,437 to €16,088
- Profit (loss) carried forward +€14,106
up €14,106, from -€8,119 to €5,987
- Tax, wage and social debts +€3,679
up €3,679 (+52.9%), from €6,950 to €10,629
of which Taxes: +€3,679
- Taxes +€10,537
up €10,537 (+2200.8%), from €479 to €11,015
- Financial charges -€5,260
down €5,260 (-97.9%), from €5,375 to €115
of which Financial charges: -€5,260
- Other operating charges +€2,382
up €2,382 (+138.9%), from €1,714 to €4,096
- Write-downs -€2,244
down €2,244, from €0 to -€2,244
- Gross operating margin +€1,865
up €1,865 (+2.5%), from €74,160 to €76,025
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 | €190,906 | €139,335 | -€51,571 | -27.0% |
| Fixed assets | 21/28 | €1,236 | €4,286 | +€3,050 | +246.8% |
| Tangible fixed assets | 22/27 | €1,236 | €4,286 | +€3,050 | +246.8% |
| Furniture and vehicles | 24 | €1,236 | €4,286 | +€3,050 | +246.8% |
| Current assets | 29/58 | €189,670 | €135,049 | -€54,621 | -28.8% |
| Amounts receivable within one year | 40/41 | €30,865 | €35,958 | +€5,093 | +16.5% |
| Trade receivables | 40 | €17,825 | €21,876 | +€4,051 | +22.7% |
| Other amounts receivable | 41 | €13,040 | €14,082 | +€1,042 | +8.0% |
| Cash at bank and in hand | 54/58 | €156,683 | €96,822 | -€59,860 | -38.2% |
| Deferred charges and accrued income | 490/1 | €2,123 | €2,269 | +€146 | +6.9% |
| Total equity and liabilities | 10/49 | €190,906 | €139,335 | -€51,571 | -27.0% |
| Equity | 10/15 | €77,917 | €40,675 | -€37,243 | -47.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €67,437 | €16,088 | -€51,348 | -76.1% |
| Distributable reserves | 133 | €67,437 | €16,088 | -€51,348 | -76.1% |
| Profit (loss) carried forward | 14 | -€8,119 | €5,987 | +€14,106 | |
| Amounts payable | 17/49 | €112,989 | €98,661 | -€14,328 | -12.7% |
| Amounts payable after more than one year | 17 | €105,000 | €0 | -€105,000 | -100.0% |
| Financial debts | 170/4 | €105,000 | €0 | -€105,000 | -100.0% |
| Amounts payable within one year | 42/48 | €7,825 | €98,492 | +€90,666 | +1158.6% |
| Trade debts | 44 | €875 | €2,830 | +€1,955 | +223.4% |
| Suppliers | 440/4 | €875 | €2,830 | +€1,955 | +223.4% |
| Taxes, remuneration and social security | 45 | €6,950 | €10,629 | +€3,679 | +52.9% |
| Taxes | 450/3 | €6,950 | €10,629 | +€3,679 | +52.9% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | - | €85,033 | +€85,033 | |
| Accrued charges and deferred income | 492/3 | €163 | €169 | +€6 | +3.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,221 | €1,344 | +€123 | +10.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | -€2,244 | -€2,244 | |
| Other operating charges | 640/8 | €1,714 | €4,096 | +€2,382 | +138.9% |
| Gross operating margin | 9900 | €74,160 | €76,025 | +€1,865 | +2.5% |
| Operating profit (loss) | 9901 | €71,225 | €72,829 | +€1,604 | +2.3% |
| Financial income | 75/76B | €657 | €1,059 | +€402 | +61.2% |
| Recurring financial income | 75 | €657 | €1,059 | +€402 | +61.2% |
| Financial charges | 65/66B | €5,375 | €115 | -€5,260 | -97.9% |
| Recurring financial charges | 65 | €5,375 | €115 | -€5,260 | -97.9% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €66,506 | €73,773 | +€7,266 | +10.9% |
| Income taxes | 67/77 | €479 | €11,015 | +€10,537 | +2200.8% |
| Profit (loss) for the period | 9904 | €66,028 | €62,757 | -€3,270 | -5.0% |
| Profit (loss) for the period to be appropriated | 9905 | €66,028 | €62,757 | -€3,270 | -5.0% |
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 12 October 2026 via checked.be.