MADMAN: 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.
MADMAN
Largest movements
- Receivables within one year +€21,768
up €21,768 (+8.4%), from €260,158 to €281,926
of which Trade receivables: +€37,307
- Other debts -€43,936
down €43,936 (-26.7%), from €164,410 to €120,474
- Tax, wage and social debts +€28,660
up €28,660 (+124.8%), from €22,965 to €51,625
of which Taxes: +€20,942
- Profit (loss) carried forward +€22,930
up €22,930 (+44.5%), from -€51,572 to -€28,642
- Trade debts +€17,402
up €17,402 (+2598.7%), from €670 to €18,072
- Debts after one year -€3,854
down €3,854 (-84.1%), from €4,584 to €729
- Staff costs -€32,792
no longer reported in 2024 (was €32,792)
- Gross operating margin -€4,674
down €4,674 (-14.8%), from €31,490 to €26,816
- Other operating charges -€582
down €582 (-52.4%), from €1,110 to €528
- Financial charges +€519
up €519 (+59.3%), from €875 to €1,394
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 | €291,077 | €312,278 | +€21,201 | +7.3% |
| Fixed assets | 21/28 | €29,041 | €27,076 | -€1,964 | -6.8% |
| Tangible fixed assets | 22/27 | €13,820 | €11,856 | -€1,964 | -14.2% |
| Plant, machinery and equipment | 23 | €13,820 | €11,856 | -€1,964 | -14.2% |
| Financial fixed assets | 28 | €15,220 | €15,220 | = | 0.0% |
| Current assets | 29/58 | €262,036 | €285,202 | +€23,166 | +8.8% |
| Amounts receivable within one year | 40/41 | €260,158 | €281,926 | +€21,768 | +8.4% |
| Trade receivables | 40 | €117,206 | €154,513 | +€37,307 | +31.8% |
| Other amounts receivable | 41 | €142,952 | €127,413 | -€15,539 | -10.9% |
| Cash at bank and in hand | 54/58 | €1,623 | €3,276 | +€1,653 | +101.8% |
| Deferred charges and accrued income | 490/1 | €256 | - | -€256 | |
| Total equity and liabilities | 10/49 | €291,077 | €312,278 | +€21,201 | +7.3% |
| Equity | 10/15 | €94,593 | €117,524 | +€22,930 | +24.2% |
| Contributions | 10/11 | €8,000 | €8,000 | = | 0.0% |
| Outside capital | 11 | €8,000 | - | -€8,000 | |
| Other | 1109/19 | €8,000 | - | -€8,000 | |
| Reserves | 13 | €138,165 | €138,165 | = | 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% |
| Distributable reserves | 133 | €136,305 | €136,305 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€51,572 | -€28,642 | +€22,930 | +44.5% |
| Amounts payable | 17/49 | €196,484 | €194,755 | -€1,729 | -0.9% |
| Amounts payable after more than one year | 17 | €4,584 | €729 | -€3,854 | -84.1% |
| Financial debts | 170/4 | €4,584 | €729 | -€3,854 | -84.1% |
| Amounts payable within one year | 42/48 | €191,900 | €194,025 | +€2,126 | +1.1% |
| Current portion of amounts payable after more than one year | 42 | €3,854 | €3,854 | = | 0.0% |
| Trade debts | 44 | €670 | €18,072 | +€17,402 | +2598.7% |
| Suppliers | 440/4 | €670 | €18,072 | +€17,402 | +2598.7% |
| Taxes, remuneration and social security | 45 | €22,965 | €51,625 | +€28,660 | +124.8% |
| Taxes | 450/3 | €1,285 | €22,227 | +€20,942 | +1630.1% |
| Remuneration and social security | 454/9 | €21,681 | €29,398 | +€7,718 | +35.6% |
| Other amounts payable | 47/48 | €164,410 | €120,474 | -€43,936 | -26.7% |
| Remuneration, social security and pensions | 62 | €32,792 | - | -€32,792 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,964 | €1,964 | = | 0.0% |
| Other operating charges | 640/8 | €1,110 | €528 | -€582 | -52.4% |
| Gross operating margin | 9900 | €31,490 | €26,816 | -€4,674 | -14.8% |
| Operating profit (loss) | 9901 | -€4,376 | €24,324 | +€28,700 | |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €875 | €1,394 | +€519 | +59.3% |
| Recurring financial charges | 65 | €875 | €1,394 | +€519 | +59.3% |
| Profit (loss) for the period before taxes | 9903 | -€5,251 | €22,930 | +€28,181 | |
| Profit (loss) for the period | 9904 | -€5,251 | €22,930 | +€28,181 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,251 | €22,930 | +€28,181 |
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 4 October 2026 via checked.be.