Madness Brew: 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.
Madness Brew
Largest movements
- Receivables within one year +€39,322
up €39,322 (+60.2%), from €65,301 to €104,623
of which Trade receivables: +€39,279
- Cash -€28,202
down €28,202 (-51.6%), from €54,694 to €26,493
mainly Net result for the year (-€83,086) and Receivables within one year (-€39,322)
- Tangible fixed assets -€20,328
down €20,328 (-35.8%), from €56,816 to €36,488
of which Furniture and vehicles: -€14,924
- Stocks and contracts -€12,070
down €12,070 (-27.3%), from €44,260 to €32,190
- Profit (loss) carried forward -€83,086
down €83,086 (-90.0%), from €92,316 to €9,231
- Accrued charges and deferred income +€36,373
new in 2025: €36,373
- Tax, wage and social debts +€30,940
up €30,940 (+125.6%), from €24,636 to €55,576
of which Remuneration and social security: +€25,496
- Trade debts +€14,242
up €14,242 (+48.0%), from €29,699 to €43,941
- Debts after one year -€14,126
down €14,126 (-35.0%), from €40,372 to €26,246
- Staff costs +€62,586
up €62,586 (+162.0%), from €38,631 to €101,217
- Other operating charges +€16,374
up €16,374 (+48.4%), from €33,858 to €50,232
- Write-downs +€4,540
up €4,540, from -€1,546 to €2,993
- Gross operating margin -€1,302
down €1,302 (-1.3%), from €102,309 to €101,008
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 | €223,447 | €200,871 | -€22,576 | -10.1% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €58,398 | €37,236 | -€21,162 | -36.2% |
| Intangible fixed assets | 21 | €1,242 | €409 | -€833 | -67.1% |
| Tangible fixed assets | 22/27 | €56,816 | €36,488 | -€20,328 | -35.8% |
| Plant, machinery and equipment | 23 | €34,607 | €29,311 | -€5,296 | -15.3% |
| Furniture and vehicles | 24 | €21,425 | €6,501 | -€14,924 | -69.7% |
| Other tangible fixed assets | 26 | €783 | €675 | -€108 | -13.8% |
| Financial fixed assets | 28 | €340 | €340 | = | 0.0% |
| Current assets | 29/58 | €165,049 | €163,635 | -€1,414 | -0.9% |
| Stocks and contracts in progress | 3 | €44,260 | €32,190 | -€12,070 | -27.3% |
| Stocks | 30/36 | €44,260 | €32,190 | -€12,070 | -27.3% |
| Amounts receivable within one year | 40/41 | €65,301 | €104,623 | +€39,322 | +60.2% |
| Trade receivables | 40 | €65,263 | €104,542 | +€39,279 | +60.2% |
| Other amounts receivable | 41 | €38 | €81 | +€43 | +112.4% |
| Cash at bank and in hand | 54/58 | €54,694 | €26,493 | -€28,202 | -51.6% |
| Deferred charges and accrued income | 490/1 | €795 | €329 | -€465 | -58.6% |
| Total equity and liabilities | 10/49 | €223,447 | €200,871 | -€22,576 | -10.1% |
| Equity | 10/15 | €107,316 | €24,231 | -€83,086 | -77.4% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €92,316 | €9,231 | -€83,086 | -90.0% |
| Amounts payable | 17/49 | €116,131 | €176,641 | +€60,510 | +52.1% |
| Amounts payable after more than one year | 17 | €40,372 | €26,246 | -€14,126 | -35.0% |
| Financial debts | 170/4 | €40,372 | €26,246 | -€14,126 | -35.0% |
| Amounts payable within one year | 42/48 | €75,759 | €114,022 | +€38,263 | +50.5% |
| Current portion of amounts payable after more than one year | 42 | €19,486 | €14,126 | -€5,360 | -27.5% |
| Trade debts | 44 | €29,699 | €43,941 | +€14,242 | +48.0% |
| Suppliers | 440/4 | €29,699 | €43,941 | +€14,242 | +48.0% |
| Taxes, remuneration and social security | 45 | €24,636 | €55,576 | +€30,940 | +125.6% |
| Taxes | 450/3 | €17,701 | €23,145 | +€5,444 | +30.8% |
| Remuneration and social security | 454/9 | €6,935 | €32,431 | +€25,496 | +367.6% |
| Other amounts payable | 47/48 | €1,937 | €378 | -€1,559 | -80.5% |
| Accrued charges and deferred income | 492/3 | - | €36,373 | +€36,373 | |
| Remuneration, social security and pensions | 62 | €38,631 | €101,217 | +€62,586 | +162.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,764 | €27,046 | +€282 | +1.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€1,546 | €2,993 | +€4,540 | |
| Other operating charges | 640/8 | €33,858 | €50,232 | +€16,374 | +48.4% |
| Operating charges capitalised as restructuring costs | 649 | €0 | - | = | |
| Gross operating margin | 9900 | €102,309 | €101,008 | -€1,302 | -1.3% |
| Operating profit (loss) | 9901 | €4,603 | -€80,480 | -€85,084 | |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €3,502 | €2,605 | -€897 | -25.6% |
| Recurring financial charges | 65 | €3,502 | €2,605 | -€897 | -25.6% |
| Profit (loss) for the period before taxes | 9903 | €1,102 | -€83,086 | -€84,187 | |
| Income taxes | 67/77 | €451 | - | -€451 | |
| Profit (loss) for the period | 9904 | €651 | -€83,086 | -€83,736 | |
| Profit (loss) for the period to be appropriated | 9905 | €651 | -€83,086 | -€83,736 |
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 28 September 2026 via checked.be.