MADRETTOR: 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.
MADRETTOR
Largest movements
- Tangible fixed assets -€50,816
down €50,816 (-100.0%), from €50,816 to €0
- Deferred charges and accrued income -€4,015
down €4,015 (-100.0%), from €4,015 to €0
- Other debts -€175,000
down €175,000 (-30.7%), from €570,000 to €395,000
- Profit (loss) carried forward +€132,496
up €132,496 (+16.3%), from -€811,589 to -€679,093
- Debts after one year -€16,875
down €16,875 (-65.7%), from €25,667 to €8,792
- Tax, wage and social debts +€6,143
up €6,143 (+70.6%), from €8,702 to €14,845
- Trade debts -€2,730
down €2,730 (-97.1%), from €2,813 to €83
- Financial charges +€42,474
up €42,474 (+921.6%), from €4,609 to €47,082
of which Non-recurring financial charges: +€41,392
- Gross operating margin +€23,399
up €23,399 (+13.5%), from €172,914 to €196,313
- Taxes +€14,988
up €14,988 (+1873.5%), from €800 to €15,788
- Depreciation -€14,547
down €14,547 (-100.0%), from €14,547 to €0
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 | €69,625 | €14,561 | -€55,064 | -79.1% |
| Fixed assets | 21/28 | €50,816 | €0 | -€50,816 | -100.0% |
| Tangible fixed assets | 22/27 | €50,816 | €0 | -€50,816 | -100.0% |
| Furniture and vehicles | 24 | €50,816 | €0 | -€50,816 | -100.0% |
| Current assets | 29/58 | €18,810 | €14,561 | -€4,249 | -22.6% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Trade receivables | 40 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €14,794 | €14,561 | -€233 | -1.6% |
| Deferred charges and accrued income | 490/1 | €4,015 | €0 | -€4,015 | -100.0% |
| Total equity and liabilities | 10/49 | €69,625 | €14,561 | -€55,064 | -79.1% |
| Equity | 10/15 | -€553,530 | -€421,034 | +€132,496 | +23.9% |
| Contributions | 10/11 | €256,200 | €256,200 | = | 0.0% |
| Capital | 10 | €256,200 | €256,200 | = | 0.0% |
| Issued capital | 100 | €268,592 | €268,592 | = | 0.0% |
| Uncalled capital | 101 | €12,392 | €12,392 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Legal reserve | 130 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€811,589 | -€679,093 | +€132,496 | +16.3% |
| Amounts payable | 17/49 | €623,155 | €435,595 | -€187,561 | -30.1% |
| Amounts payable after more than one year | 17 | €25,667 | €8,792 | -€16,875 | -65.7% |
| Financial debts | 170/4 | €25,667 | €8,792 | -€16,875 | -65.7% |
| Amounts payable within one year | 42/48 | €597,489 | €426,803 | -€170,686 | -28.6% |
| Current portion of amounts payable after more than one year | 42 | €15,973 | €16,875 | +€902 | +5.6% |
| Trade debts | 44 | €2,813 | €83 | -€2,730 | -97.1% |
| Suppliers | 440/4 | €2,813 | €83 | -€2,730 | -97.1% |
| Taxes, remuneration and social security | 45 | €8,702 | €14,845 | +€6,143 | +70.6% |
| Taxes | 450/3 | €8,702 | €14,845 | +€6,143 | +70.6% |
| Other amounts payable | 47/48 | €570,000 | €395,000 | -€175,000 | -30.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,547 | €0 | -€14,547 | -100.0% |
| Other operating charges | 640/8 | €1,731 | €947 | -€784 | -45.3% |
| Gross operating margin | 9900 | €172,914 | €196,313 | +€23,399 | +13.5% |
| Operating profit (loss) | 9901 | €156,636 | €195,367 | +€38,731 | +24.7% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €4,609 | €47,082 | +€42,474 | +921.6% |
| Recurring financial charges | 65 | €4,609 | €5,690 | +€1,082 | +23.5% |
| Non-recurring financial charges | 66B | - | €41,392 | +€41,392 | |
| Profit (loss) for the period before taxes | 9903 | €152,028 | €148,285 | -€3,743 | -2.5% |
| Income taxes | 67/77 | €800 | €15,788 | +€14,988 | +1873.5% |
| Profit (loss) for the period | 9904 | €151,228 | €132,496 | -€18,731 | -12.4% |
| Profit (loss) for the period to be appropriated | 9905 | €151,228 | €132,496 | -€18,731 | -12.4% |
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.