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
- Receivables within one year -€8,465
down €8,465 (-44.9%), from €18,850 to €10,385
of which Trade receivables: -€7,615
- Cash -€3,731
down €3,731 (-63.0%), from €5,920 to €2,189
mainly Advances received (-€32,000) and Debts after one year (-€28,570)
- Advances received -€32,000
no longer reported in 2025 (was €32,000)
- Debts after one year -€28,570
down €28,570 (-34.3%), from €83,329 to €54,759
- Tax, wage and social debts +€27,515
up €27,515 (+5029.3%), from €547 to €28,062
of which Taxes: +€24,847
- Profit (loss) carried forward +€21,446
up €21,446 (+980.0%), from €2,188 to €23,634
- Trade debts +€5,136
up €5,136 (+70.7%), from €7,260 to €12,397
- Gross operating margin +€20,285
up €20,285 (+159.8%), from €12,692 to €32,977
- Taxes +€4,897
up €4,897 (+895.0%), from €547 to €5,444
- Financial charges -€544
down €544 (-8.5%), from €6,381 to €5,837
of which Financial charges: -€1,284
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 | €167,620 | €155,424 | -€12,196 | -7.3% |
| Fixed assets | 21/28 | €142,850 | €142,850 | = | 0.0% |
| Financial fixed assets | 28 | €142,850 | €142,850 | = | 0.0% |
| Current assets | 29/58 | €24,770 | €12,574 | -€12,196 | -49.2% |
| Amounts receivable within one year | 40/41 | €18,850 | €10,385 | -€8,465 | -44.9% |
| Trade receivables | 40 | €18,000 | €10,385 | -€7,615 | -42.3% |
| Other amounts receivable | 41 | €850 | - | -€850 | |
| Cash at bank and in hand | 54/58 | €5,920 | €2,189 | -€3,731 | -63.0% |
| Total equity and liabilities | 10/49 | €167,620 | €155,424 | -€12,196 | -7.3% |
| Equity | 10/15 | €10,188 | €31,634 | +€21,446 | +210.5% |
| Contributions | 10/11 | €8,000 | €8,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,188 | €23,634 | +€21,446 | +980.0% |
| Amounts payable | 17/49 | €157,432 | €123,789 | -€33,643 | -21.4% |
| Amounts payable after more than one year | 17 | €83,329 | €54,759 | -€28,570 | -34.3% |
| Financial debts | 170/4 | €83,329 | €54,759 | -€28,570 | -34.3% |
| Amounts payable within one year | 42/48 | €73,141 | €69,030 | -€4,110 | -5.6% |
| Current portion of amounts payable after more than one year | 42 | €33,332 | €28,570 | -€4,762 | -14.3% |
| Trade debts | 44 | €7,260 | €12,397 | +€5,136 | +70.7% |
| Suppliers | 440/4 | €7,260 | €12,397 | +€5,136 | +70.7% |
| Advances received on contracts in progress | 46 | €32,000 | - | -€32,000 | |
| Taxes, remuneration and social security | 45 | €547 | €28,062 | +€27,515 | +5029.3% |
| Taxes | 450/3 | €547 | €25,394 | +€24,847 | +4541.6% |
| Remuneration and social security | 454/9 | - | €2,668 | +€2,668 | |
| Other amounts payable | 47/48 | €1 | €1 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €962 | - | -€962 | |
| Non-recurring operating income | 76A | €185 | - | -€185 | |
| Non-recurring operating charges | 66A | - | €250 | +€250 | |
| Gross operating margin | 9900 | €12,692 | €32,977 | +€20,285 | +159.8% |
| Operating profit (loss) | 9901 | €12,692 | €32,727 | +€20,035 | +157.9% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €6,381 | €5,837 | -€544 | -8.5% |
| Recurring financial charges | 65 | €6,381 | €5,098 | -€1,284 | -20.1% |
| Non-recurring financial charges | 66B | - | €739 | +€739 | |
| Profit (loss) for the period before taxes | 9903 | €6,311 | €26,890 | +€20,579 | +326.1% |
| Income taxes | 67/77 | €547 | €5,444 | +€4,897 | +895.0% |
| Profit (loss) for the period | 9904 | €5,763 | €21,446 | +€15,683 | +272.1% |
| Profit (loss) for the period to be appropriated | 9905 | €5,763 | €21,446 | +€15,683 | +272.1% |
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 3 October 2026 via checked.be.