MADOL: 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.
MADOL
Largest movements
- Receivables within one year -€42,782
down €42,782 (-49.9%), from €85,812 to €43,030
of which Trade receivables: -€49,974
- Cash +€13,185
up €13,185 (+96.5%), from €13,659 to €26,844
mainly Receivables within one year (+€42,782) and Net result for the year (+€19,434)
- Tangible fixed assets -€5,974
down €5,974 (-25.3%), from €23,628 to €17,654
of which Furniture and vehicles: -€5,281
- Trade debts -€46,618
down €46,618 (-99.5%), from €46,873 to €255
- Profit (loss) carried forward +€19,433
up €19,433 (+58.8%), from €33,069 to €52,502
- Debts after one year -€7,051
down €7,051 (-42.3%), from €16,662 to €9,611
- Tax, wage and social debts -€1,632
down €1,632 (-16.1%), from €10,165 to €8,533
- Financial charges -€4,426
down €4,426 (-45.0%), from €9,836 to €5,410
- Gross operating margin -€3,462
down €3,462 (-7.6%), from €45,661 to €42,199
- Taxes +€1,914
up €1,914 (+28.8%), from €6,645 to €8,559
- Other operating charges +€753
up €753 (+690.7%), from €109 to €862
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €123,298 | €87,942 | -€35,356 | -28.7% |
| Fixed assets | 21/28 | €23,628 | €17,654 | -€5,974 | -25.3% |
| Tangible fixed assets | 22/27 | €23,628 | €17,654 | -€5,974 | -25.3% |
| Plant, machinery and equipment | 23 | €1,419 | €726 | -€693 | -48.8% |
| Furniture and vehicles | 24 | €22,209 | €16,928 | -€5,281 | -23.8% |
| Current assets | 29/58 | €99,670 | €70,288 | -€29,382 | -29.5% |
| Amounts receivable within one year | 40/41 | €85,812 | €43,030 | -€42,782 | -49.9% |
| Trade receivables | 40 | €77,651 | €27,677 | -€49,974 | -64.4% |
| Other amounts receivable | 41 | €8,161 | €15,353 | +€7,192 | +88.1% |
| Cash at bank and in hand | 54/58 | €13,659 | €26,844 | +€13,185 | +96.5% |
| Deferred charges and accrued income | 490/1 | €199 | €413 | +€214 | +107.4% |
| Total equity and liabilities | 10/49 | €123,298 | €87,942 | -€35,356 | -28.7% |
| Equity | 10/15 | €33,069 | €52,502 | +€19,433 | +58.8% |
| Profit (loss) carried forward | 14 | €33,069 | €52,502 | +€19,433 | +58.8% |
| Amounts payable | 17/49 | €90,229 | €35,440 | -€54,789 | -60.7% |
| Amounts payable after more than one year | 17 | €16,662 | €9,611 | -€7,051 | -42.3% |
| Financial debts | 170/4 | €16,662 | €9,611 | -€7,051 | -42.3% |
| Amounts payable within one year | 42/48 | €73,567 | €25,829 | -€47,738 | -64.9% |
| Current portion of amounts payable after more than one year | 42 | €6,529 | €7,041 | +€512 | +7.8% |
| Trade debts | 44 | €46,873 | €255 | -€46,618 | -99.5% |
| Suppliers | 440/4 | €46,873 | €255 | -€46,618 | -99.5% |
| Taxes, remuneration and social security | 45 | €10,165 | €8,533 | -€1,632 | -16.1% |
| Taxes | 450/3 | €10,165 | €8,533 | -€1,632 | -16.1% |
| Other amounts payable | 47/48 | €10,000 | €10,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,012 | €7,936 | -€76 | -1.0% |
| Other operating charges | 640/8 | €109 | €862 | +€753 | +690.7% |
| Gross operating margin | 9900 | €45,661 | €42,199 | -€3,462 | -7.6% |
| Operating profit (loss) | 9901 | €37,540 | €33,402 | -€4,138 | -11.0% |
| Financial income | 75/76B | €3 | €1 | -€2 | -71.7% |
| Recurring financial income | 75 | €3 | €1 | -€2 | -71.7% |
| Financial charges | 65/66B | €9,836 | €5,410 | -€4,426 | -45.0% |
| Recurring financial charges | 65 | €9,836 | €5,410 | -€4,426 | -45.0% |
| Profit (loss) for the period before taxes | 9903 | €27,707 | €27,992 | +€285 | +1.0% |
| Income taxes | 67/77 | €6,645 | €8,559 | +€1,914 | +28.8% |
| Profit (loss) for the period | 9904 | €21,062 | €19,434 | -€1,628 | -7.7% |
| Profit (loss) for the period to be appropriated | 9905 | €21,062 | €19,434 | -€1,628 | -7.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.