Madon Optiek: 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.
Madon Optiek
Largest movements
- Receivables within one year +€93,506
up €93,506 (+1,127%), from €8,296 to €101,801
of which Other amounts receivable: +€90,321
- Current investments -€25,847
down €25,847 (-63.7%), from €40,599 to €14,752
- Stocks and contracts +€19,827
up €19,827 (+15.0%), from €132,069 to €151,896
- Tangible fixed assets -€12,929
down €12,929 (-4.0%), from €322,028 to €309,099
of which Land and buildings: -€9,456
- Cash +€11,225
up €11,225 (+34.1%), from €32,935 to €44,160
mainly Net result for the year (+€132,232) and Current investments (+€25,847)
- Profit (loss) carried forward +€132,232
up €132,232 (+43.8%), from €302,112 to €434,344
- Other debts -€30,000
down €30,000 (-100%), from €30,000 to €0
- Debts after one year -€27,790
down €27,790 (-24.7%), from €112,362 to €84,572
- Tax, wage and social debts +€7,997
up €7,997 (+73.9%), from €10,821 to €18,817
of which Taxes: +€5,303
- Gross operating margin +€50,127
up €50,127 (+24.3%), from €206,190 to €256,318
- Taxes +€16,339
up €16,339 (+52.6%), from €31,046 to €47,385
- Staff costs -€13,020
down €13,020 (-30.7%), from €42,421 to €29,401
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
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 | €538,345 | €624,423 | +€86,078 | +16.0% |
| Fixed assets | 21/28 | €322,028 | €309,099 | -€12,929 | -4.0% |
| Tangible fixed assets | 22/27 | €322,028 | €309,099 | -€12,929 | -4.0% |
| Land and buildings | 22 | €301,418 | €291,962 | -€9,456 | -3.1% |
| Plant, machinery and equipment | 23 | €18,787 | €16,231 | -€2,557 | -13.6% |
| Furniture and vehicles | 24 | €1,823 | €906 | -€917 | -50.3% |
| Current assets | 29/58 | €216,317 | €315,324 | +€99,007 | +45.8% |
| Stocks and contracts in progress | 3 | €132,069 | €151,896 | +€19,827 | +15.0% |
| Stocks | 30/36 | €132,069 | €151,896 | +€19,827 | +15.0% |
| Amounts receivable within one year | 40/41 | €8,296 | €101,801 | +€93,506 | +1,127% |
| Trade receivables | 40 | €295 | €3,479 | +€3,184 | +1,081% |
| Other amounts receivable | 41 | €8,001 | €98,322 | +€90,321 | +1,129% |
| Current investments | 50/53 | €40,599 | €14,752 | -€25,847 | -63.7% |
| Cash at bank and in hand | 54/58 | €32,935 | €44,160 | +€11,225 | +34.1% |
| Deferred charges and accrued income | 490/1 | €2,419 | €2,715 | +€296 | +12.2% |
| Total equity and liabilities | 10/49 | €538,345 | €624,423 | +€86,078 | +16.0% |
| Equity | 10/15 | €333,862 | €466,094 | +€132,232 | +39.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €11,750 | €11,750 | = | 0.0% |
| Distributable reserves | 133 | €11,750 | €11,750 | = | 0.0% |
| Profit (loss) carried forward | 14 | €302,112 | €434,344 | +€132,232 | +43.8% |
| Amounts payable | 17/49 | €204,483 | €158,329 | -€46,154 | -22.6% |
| Amounts payable after more than one year | 17 | €112,362 | €84,572 | -€27,790 | -24.7% |
| Financial debts | 170/4 | €112,362 | €84,572 | -€27,790 | -24.7% |
| Amounts payable within one year | 42/48 | €92,121 | €73,549 | -€18,573 | -20.2% |
| Current portion of amounts payable after more than one year | 42 | €26,888 | €27,790 | +€902 | +3.4% |
| Trade debts | 44 | €24,413 | €26,941 | +€2,528 | +10.4% |
| Suppliers | 440/4 | €24,413 | €26,941 | +€2,528 | +10.4% |
| Taxes, remuneration and social security | 45 | €10,821 | €18,817 | +€7,997 | +73.9% |
| Taxes | 450/3 | €4,556 | €9,860 | +€5,303 | +116% |
| Remuneration and social security | 454/9 | €6,264 | €8,958 | +€2,693 | +43.0% |
| Other amounts payable | 47/48 | €30,000 | €0 | -€30,000 | -100% |
| Accrued charges and deferred income | 492/3 | - | €208 | +€208 | |
| Remuneration, social security and pensions | 62 | €42,421 | €29,401 | -€13,020 | -30.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,850 | €20,263 | +€413 | +2.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €12,025 | €14,168 | +€2,143 | +17.8% |
| Other operating charges | 640/8 | €2,742 | €2,999 | +€257 | +9.4% |
| Non-recurring operating charges | 66A | €1,209 | €0 | -€1,209 | -100% |
| Gross operating margin | 9900 | €206,190 | €256,318 | +€50,127 | +24.3% |
| Operating profit (loss) | 9901 | €127,943 | €189,487 | +€61,543 | +48.1% |
| Financial income | 75/76B | €4,702 | €4,577 | -€125 | -2.7% |
| Recurring financial income | 75 | €4,702 | €4,577 | -€125 | -2.7% |
| Financial charges | 65/66B | €13,150 | €14,447 | +€1,297 | +9.9% |
| Recurring financial charges | 65 | €13,150 | €14,447 | +€1,297 | +9.9% |
| Profit (loss) for the period before taxes | 9903 | €119,496 | €179,617 | +€60,121 | +50.3% |
| Income taxes | 67/77 | €31,046 | €47,385 | +€16,339 | +52.6% |
| Profit (loss) for the period | 9904 | €88,449 | €132,232 | +€43,783 | +49.5% |
| Profit (loss) for the period to be appropriated | 9905 | €88,449 | €132,232 | +€43,783 | +49.5% |
Source: filed annual accounts (NBB), financial 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 October 2026 via checked.be.