MADLION: 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.
MADLION
Largest movements
- Receivables within one year -€53,382
down €53,382 (-19.4%), from €274,747 to €221,365
of which Trade receivables: -€92,169
- Accrued charges and deferred income -€32,760
down €32,760 (-100.0%), from €32,760 to €0
- Reserves -€32,531
down €32,531 (-34.5%), from €94,247 to €61,716
- Profit (loss) carried forward +€29,025
up €29,025 (+333.6%), from €8,701 to €37,725
- Trade debts -€10,878
down €10,878 (-33.4%), from €32,548 to €21,670
- Other debts -€7,623
down €7,623 (-6.5%), from €118,010 to €110,387
- Gross operating margin -€10,278
down €10,278, from €5,457 to -€4,820
- Financial income +€3,185
up €3,185 (+88.6%), from €3,595 to €6,779
- Taxes -€2,192
down €2,192 (-63.1%), from €3,472 to €1,280
- Other operating charges -€637
down €637 (-20.3%), from €3,140 to €2,503
- Financial charges +€559
up €559 (+109.5%), from €511 to €1,070
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 | €319,213 | €267,018 | -€52,195 | -16.4% |
| Fixed assets | 21/28 | €25,434 | €27,377 | +€1,944 | +7.6% |
| Tangible fixed assets | 22/27 | €734 | €2,677 | +€1,944 | +265.0% |
| Plant, machinery and equipment | 23 | €734 | €337 | -€397 | -54.1% |
| Furniture and vehicles | 24 | - | €2,340 | +€2,340 | |
| Financial fixed assets | 28 | €24,700 | €24,700 | = | 0.0% |
| Current assets | 29/58 | €293,779 | €239,640 | -€54,139 | -18.4% |
| Stocks and contracts in progress | 3 | €9,783 | €8,892 | -€891 | -9.1% |
| Stocks | 30/36 | €9,783 | €8,892 | -€891 | -9.1% |
| Amounts receivable within one year | 40/41 | €274,747 | €221,365 | -€53,382 | -19.4% |
| Trade receivables | 40 | €199,654 | €107,485 | -€92,169 | -46.2% |
| Other amounts receivable | 41 | €75,093 | €113,880 | +€38,788 | +51.7% |
| Cash at bank and in hand | 54/58 | €4,039 | €6,967 | +€2,928 | +72.5% |
| Deferred charges and accrued income | 490/1 | €5,210 | €2,416 | -€2,793 | -53.6% |
| Total equity and liabilities | 10/49 | €319,213 | €267,018 | -€52,195 | -16.4% |
| Equity | 10/15 | €121,547 | €118,041 | -€3,506 | -2.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €94,247 | €61,716 | -€32,531 | -34.5% |
| Distributable reserves | 133 | €94,247 | €61,716 | -€32,531 | -34.5% |
| Profit (loss) carried forward | 14 | €8,701 | €37,725 | +€29,025 | +333.6% |
| Amounts payable | 17/49 | €197,665 | €148,976 | -€48,689 | -24.6% |
| Amounts payable within one year | 42/48 | €164,905 | €148,976 | -€15,929 | -9.7% |
| Financial debts | 43 | €405 | €0 | -€405 | -100.0% |
| Credit institutions | 430/8 | €405 | €0 | -€405 | -100.0% |
| Trade debts | 44 | €32,548 | €21,670 | -€10,878 | -33.4% |
| Suppliers | 440/4 | €32,548 | €21,670 | -€10,878 | -33.4% |
| Taxes, remuneration and social security | 45 | €13,943 | €16,920 | +€2,977 | +21.4% |
| Taxes | 450/3 | €13,943 | €16,920 | +€2,977 | +21.4% |
| Other amounts payable | 47/48 | €118,010 | €110,387 | -€7,623 | -6.5% |
| Accrued charges and deferred income | 492/3 | €32,760 | €0 | -€32,760 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €397 | €612 | +€215 | +54.2% |
| Other operating charges | 640/8 | €3,140 | €2,503 | -€637 | -20.3% |
| Gross operating margin | 9900 | €5,457 | -€4,820 | -€10,278 | |
| Operating profit (loss) | 9901 | €1,921 | -€7,935 | -€9,856 | |
| Financial income | 75/76B | €3,595 | €6,779 | +€3,185 | +88.6% |
| Recurring financial income | 75 | €3,595 | €6,779 | +€3,185 | +88.6% |
| Financial charges | 65/66B | €511 | €1,070 | +€559 | +109.5% |
| Recurring financial charges | 65 | €511 | €1,070 | +€559 | +109.5% |
| Profit (loss) for the period before taxes | 9903 | €5,005 | -€2,226 | -€7,231 | |
| Income taxes | 67/77 | €3,472 | €1,280 | -€2,192 | -63.1% |
| Profit (loss) for the period | 9904 | €1,532 | -€3,506 | -€5,039 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,532 | -€3,506 | -€5,039 |
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 7 October 2026 via checked.be.