MADRE: 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.
MADRE
Largest movements
- Tangible fixed assets -€18,999
down €18,999 (-8.8%), from €214,688 to €195,689
of which Land and buildings: -€16,320
- Cash +€2,876
up €2,876 (+59.6%), from €4,826 to €7,701
mainly Depreciation (+€18,999) and Net result for the year (+€9,078)
- Other debts -€13,247
down €13,247 (-8.9%), from €148,241 to €134,994
- Debts after one year -€12,706
down €12,706 (-85.6%), from €14,846 to €2,140
- Profit (loss) carried forward +€9,078
up €9,078 (+28.7%), from €31,678 to €40,757
- Gross operating margin +€2,643
up €2,643 (+8.3%), from €31,991 to €34,634
- Taxes +€903
up €903 (+29.2%), from €3,099 to €4,002
- Other operating charges -€794
down €794 (-30.1%), from €2,640 to €1,846
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 | €226,627 | €209,371 | -€17,256 | -7.6% |
| Fixed assets | 21/28 | €214,688 | €195,689 | -€18,999 | -8.8% |
| Tangible fixed assets | 22/27 | €214,688 | €195,689 | -€18,999 | -8.8% |
| Land and buildings | 22 | €210,916 | €194,596 | -€16,320 | -7.7% |
| Furniture and vehicles | 24 | €3,772 | €1,094 | -€2,679 | -71.0% |
| Current assets | 29/58 | €11,939 | €13,681 | +€1,743 | +14.6% |
| Amounts receivable within one year | 40/41 | €5,687 | €4,840 | -€847 | -14.9% |
| Trade receivables | 40 | €5,687 | €4,840 | -€847 | -14.9% |
| Cash at bank and in hand | 54/58 | €4,826 | €7,701 | +€2,876 | +59.6% |
| Deferred charges and accrued income | 490/1 | €1,426 | €1,140 | -€286 | -20.1% |
| Total equity and liabilities | 10/49 | €226,627 | €209,371 | -€17,256 | -7.6% |
| Equity | 10/15 | €37,878 | €46,957 | +€9,078 | +24.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €31,678 | €40,757 | +€9,078 | +28.7% |
| Amounts payable | 17/49 | €188,749 | €162,414 | -€26,335 | -14.0% |
| Amounts payable after more than one year | 17 | €14,846 | €2,140 | -€12,706 | -85.6% |
| Financial debts | 170/4 | €14,846 | €2,140 | -€12,706 | -85.6% |
| Amounts payable within one year | 42/48 | €173,903 | €160,274 | -€13,629 | -7.8% |
| Current portion of amounts payable after more than one year | 42 | €12,476 | €12,706 | +€229 | +1.8% |
| Trade debts | 44 | €554 | €1,097 | +€543 | +98.1% |
| Suppliers | 440/4 | €554 | €1,097 | +€543 | +98.1% |
| Taxes, remuneration and social security | 45 | €12,632 | €11,477 | -€1,155 | -9.1% |
| Taxes | 450/3 | €12,482 | €11,477 | -€1,005 | -8.0% |
| Remuneration and social security | 454/9 | €150 | €0 | -€150 | -100.0% |
| Other amounts payable | 47/48 | €148,241 | €134,994 | -€13,247 | -8.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,999 | €18,999 | = | 0.0% |
| Other operating charges | 640/8 | €2,640 | €1,846 | -€794 | -30.1% |
| Gross operating margin | 9900 | €31,991 | €34,634 | +€2,643 | +8.3% |
| Operating profit (loss) | 9901 | €10,352 | €13,789 | +€3,437 | +33.2% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €810 | €708 | -€102 | -12.6% |
| Recurring financial charges | 65 | €810 | €708 | -€102 | -12.6% |
| Profit (loss) for the period before taxes | 9903 | €9,542 | €13,081 | +€3,539 | +37.1% |
| Income taxes | 67/77 | €3,099 | €4,002 | +€903 | +29.2% |
| Profit (loss) for the period | 9904 | €6,443 | €9,078 | +€2,636 | +40.9% |
| Profit (loss) for the period to be appropriated | 9905 | €6,443 | €9,078 | +€2,636 | +40.9% |
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 7 October 2026 via checked.be.