MADOCKE: 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.
MADOCKE
Largest movements
- Stocks and contracts -€476,880
down €476,880 (-97.0%), from €491,880 to €15,000
- Cash +€359,500
up €359,500 (+1,421%), from €25,302 to €384,802
- Deferred charges and accrued income -€135,944
down €135,944 (-98.3%), from €138,361 to €2,417
- Receivables within one year +€127,107
up €127,107 (+243%), from €52,308 to €179,414
of which Trade receivables: +€118,480
- Tangible fixed assets -€26,335
down €26,335 (-44.0%), from €59,796 to €33,460
of which Furniture and vehicles: -€21,763
- Debts after one year -€330,256
down €330,256 (-59.5%), from €555,256 to €225,000
- Tax, wage and social debts +€137,634
up €137,634 (+5,820%), from €2,365 to €139,998
of which Taxes: +€136,795
- Other debts +€125,832
up €125,832 (+289%), from €43,509 to €169,341
- Trade debts -€42,622
down €42,622 (-78.3%), from €54,445 to €11,822
- Profit (loss) carried forward -€24,597
down €24,597, from €1,878 to -€22,719
- Financial charges +€47,450
up €47,450 (+441%), from €10,756 to €58,206
- Gross operating margin +€34,565
up €34,565 (+83.8%), from €41,251 to €75,816
- Depreciation +€11,620
up €11,620 (+52.6%), from €22,110 to €33,729
- Other operating charges +€4,124
up €4,124 (+239%), from €1,724 to €5,848
- Staff costs +€2,657
new in 2025: €2,657
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.
Derived cash bridge
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €767,646 | €615,094 | -€152,553 | -19.9% |
| Fixed assets | 21/28 | €59,796 | €33,460 | -€26,335 | -44.0% |
| Tangible fixed assets | 22/27 | €59,796 | €33,460 | -€26,335 | -44.0% |
| Plant, machinery and equipment | 23 | €17,698 | €13,126 | -€4,572 | -25.8% |
| Furniture and vehicles | 24 | €42,098 | €20,335 | -€21,763 | -51.7% |
| Current assets | 29/58 | €707,851 | €581,633 | -€126,218 | -17.8% |
| Stocks and contracts in progress | 3 | €491,880 | €15,000 | -€476,880 | -97.0% |
| Stocks | 30/36 | €491,880 | €15,000 | -€476,880 | -97.0% |
| Amounts receivable within one year | 40/41 | €52,308 | €179,414 | +€127,107 | +243% |
| Trade receivables | 40 | €40,634 | €159,114 | +€118,480 | +292% |
| Other amounts receivable | 41 | €11,674 | €20,300 | +€8,626 | +73.9% |
| Cash at bank and in hand | 54/58 | €25,302 | €384,802 | +€359,500 | +1,421% |
| Deferred charges and accrued income | 490/1 | €138,361 | €2,417 | -€135,944 | -98.3% |
| Total equity and liabilities | 10/49 | €767,646 | €615,094 | -€152,553 | -19.9% |
| Equity | 10/15 | €93,529 | €68,932 | -€24,597 | -26.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €73,051 | €73,051 | = | 0.0% |
| Tax-exempt reserves | 132 | €33,051 | €33,051 | = | 0.0% |
| Distributable reserves | 133 | €40,000 | €40,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,878 | -€22,719 | -€24,597 | |
| Amounts payable | 17/49 | €674,117 | €546,162 | -€127,956 | -19.0% |
| Amounts payable after more than one year | 17 | €555,256 | €225,000 | -€330,256 | -59.5% |
| Financial debts | 170/4 | €555,256 | €225,000 | -€330,256 | -59.5% |
| Amounts payable within one year | 42/48 | €118,861 | €321,162 | +€202,301 | +170% |
| Current portion of amounts payable after more than one year | 42 | €18,542 | €0 | -€18,542 | -100% |
| Trade debts | 44 | €54,445 | €11,822 | -€42,622 | -78.3% |
| Suppliers | 440/4 | €54,445 | €11,822 | -€42,622 | -78.3% |
| Taxes, remuneration and social security | 45 | €2,365 | €139,998 | +€137,634 | +5,820% |
| Taxes | 450/3 | €2,365 | €139,160 | +€136,795 | +5,785% |
| Remuneration and social security | 454/9 | - | €838 | +€838 | |
| Other amounts payable | 47/48 | €43,509 | €169,341 | +€125,832 | +289% |
| Remuneration, social security and pensions | 62 | - | €2,657 | +€2,657 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,110 | €33,729 | +€11,620 | +52.6% |
| Other operating charges | 640/8 | €1,724 | €5,848 | +€4,124 | +239% |
| Gross operating margin | 9900 | €41,251 | €75,816 | +€34,565 | +83.8% |
| Operating profit (loss) | 9901 | €17,417 | €33,582 | +€16,165 | +92.8% |
| Financial income | 75/76B | €18 | €27 | +€9 | +47.1% |
| Recurring financial income | 75 | €18 | €27 | +€9 | +47.1% |
| Financial charges | 65/66B | €10,756 | €58,206 | +€47,450 | +441% |
| Recurring financial charges | 65 | €10,756 | €58,206 | +€47,450 | +441% |
| Profit (loss) for the period before taxes | 9903 | €6,680 | -€24,597 | -€31,277 | |
| Income taxes | 67/77 | €2,365 | €0 | -€2,365 | -100.0% |
| Profit (loss) for the period | 9904 | €4,315 | -€24,597 | -€28,912 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,315 | -€24,597 | -€28,912 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.