MADOO: 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.
MADOO
Largest movements
- Receivables within one year +€80,903
up €80,903 (+113.9%), from €71,036 to €151,939
of which Trade receivables: +€82,807
- Cash -€10,611
down €10,611 (-6.5%), from €162,688 to €152,078
mainly Other debts (-€117,781) and Receivables within one year (-€80,903)
- Tangible fixed assets -€5,648
down €5,648 (-14.6%), from €38,720 to €33,072
of which Furniture and vehicles: -€5,648
- Reserves +€145,782
up €145,782 (+31489.0%), from €463 to €146,244
- Other debts -€117,781
down €117,781 (-54.7%), from €215,132 to €97,351
- Trade debts +€33,654
up €33,654 (+1063.2%), from €3,165 to €36,819
- Gross operating margin +€40,750
up €40,750 (+24.0%), from €169,740 to €210,491
- Taxes +€13,724
up €13,724 (+37.5%), from €36,589 to €50,313
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 | €275,497 | €339,835 | +€64,339 | +23.4% |
| Fixed assets | 21/28 | €38,720 | €33,072 | -€5,648 | -14.6% |
| Tangible fixed assets | 22/27 | €38,720 | €33,072 | -€5,648 | -14.6% |
| Land and buildings | 22 | €2,182 | €2,182 | = | 0.0% |
| Furniture and vehicles | 24 | €35,248 | €29,600 | -€5,648 | -16.0% |
| Other tangible fixed assets | 26 | €1,290 | €1,290 | = | 0.0% |
| Current assets | 29/58 | €236,777 | €306,764 | +€69,986 | +29.6% |
| Amounts receivable within one year | 40/41 | €71,036 | €151,939 | +€80,903 | +113.9% |
| Trade receivables | 40 | €58,721 | €141,528 | +€82,807 | +141.0% |
| Other amounts receivable | 41 | €12,316 | €10,411 | -€1,904 | -15.5% |
| Cash at bank and in hand | 54/58 | €162,688 | €152,078 | -€10,611 | -6.5% |
| Deferred charges and accrued income | 490/1 | €3,053 | €2,747 | -€306 | -10.0% |
| Total equity and liabilities | 10/49 | €275,497 | €339,835 | +€64,339 | +23.4% |
| Equity | 10/15 | €19,063 | €164,844 | +€145,782 | +764.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €463 | €146,244 | +€145,782 | +31489.0% |
| Distributable reserves | 133 | €463 | €146,244 | +€145,782 | +31489.0% |
| Amounts payable | 17/49 | €256,434 | €174,991 | -€81,443 | -31.8% |
| Amounts payable within one year | 42/48 | €256,434 | €174,991 | -€81,443 | -31.8% |
| Trade debts | 44 | €3,165 | €36,819 | +€33,654 | +1063.2% |
| Suppliers | 440/4 | €3,165 | €36,819 | +€33,654 | +1063.2% |
| Taxes, remuneration and social security | 45 | €38,137 | €40,821 | +€2,684 | +7.0% |
| Taxes | 450/3 | €38,137 | €40,821 | +€2,684 | +7.0% |
| Other amounts payable | 47/48 | €215,132 | €97,351 | -€117,781 | -54.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,526 | €10,471 | +€1,945 | +22.8% |
| Other operating charges | 640/8 | €3,705 | €4,020 | +€315 | +8.5% |
| Gross operating margin | 9900 | €169,740 | €210,491 | +€40,750 | +24.0% |
| Operating profit (loss) | 9901 | €157,509 | €196,000 | +€38,491 | +24.4% |
| Financial income | 75/76B | €2,990 | €917 | -€2,073 | -69.3% |
| Recurring financial income | 75 | €2,990 | €917 | -€2,073 | -69.3% |
| Financial charges | 65/66B | €473 | €822 | +€350 | +74.0% |
| Recurring financial charges | 65 | €473 | €822 | +€350 | +74.0% |
| Profit (loss) for the period before taxes | 9903 | €160,026 | €196,094 | +€36,068 | +22.5% |
| Income taxes | 67/77 | €36,589 | €50,313 | +€13,724 | +37.5% |
| Profit (loss) for the period | 9904 | €123,438 | €145,782 | +€22,344 | +18.1% |
| Profit (loss) for the period to be appropriated | 9905 | €123,438 | €145,782 | +€22,344 | +18.1% |
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 6 October 2026 via checked.be.