Madrid: 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.
Madrid
Largest movements
- Receivables within one year -€821,976
down €821,976 (-93.2%), from €882,008 to €60,032
of which Trade receivables: -€765,817
- Cash -€30,294
down €30,294 (-60.0%), from €50,513 to €20,219
mainly Other debts (-€893,124)
- Tangible fixed assets -€11,481
down €11,481 (-75.0%), from €15,311 to €3,830
of which Furniture and vehicles: -€6,621
- Other debts -€893,124
down €893,124 (-83.2%), from €1.1m to €180,000
- Profit (loss) carried forward +€28,072
up €28,072 (+0.9%), from -€3.0m to -€2.9m
- Financial charges -€2.2m
down €2.2m (-98.5%), from €2.2m to €34,167
of which Non-recurring financial charges: -€2.2m
- Gross operating margin -€87,532
down €87,532 (-54.6%), from €160,284 to €72,752
- Depreciation -€17,234
down €17,234 (-72.6%), from €23,724 to €6,489
- Write-downs -€11,369
down €11,369 (-100%), from €11,369 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.
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 | €1,049,362 | €184,768 | -€864,594 | -82.4% |
| Fixed assets | 21/28 | €115,311 | €103,830 | -€11,481 | -10.0% |
| Tangible fixed assets | 22/27 | €15,311 | €3,830 | -€11,481 | -75.0% |
| Plant, machinery and equipment | 23 | €2,536 | €676 | -€1,860 | -73.3% |
| Furniture and vehicles | 24 | €8,542 | €1,921 | -€6,621 | -77.5% |
| Other tangible fixed assets | 26 | €4,233 | €1,233 | -€3,000 | -70.9% |
| Financial fixed assets | 28 | €100,000 | €100,000 | = | 0.0% |
| Current assets | 29/58 | €934,051 | €80,938 | -€853,113 | -91.3% |
| Amounts receivable within one year | 40/41 | €882,008 | €60,032 | -€821,976 | -93.2% |
| Trade receivables | 40 | €820,743 | €54,926 | -€765,817 | -93.3% |
| Other amounts receivable | 41 | €61,266 | €5,106 | -€56,160 | -91.7% |
| Cash at bank and in hand | 54/58 | €50,513 | €20,219 | -€30,294 | -60.0% |
| Deferred charges and accrued income | 490/1 | €1,530 | €686 | -€843 | -55.1% |
| Total equity and liabilities | 10/49 | €1,049,362 | €184,768 | -€864,594 | -82.4% |
| Equity | 10/15 | -€163,800 | -€135,728 | +€28,072 | +17.1% |
| Contributions | 10/11 | €2,807,658 | €2,807,658 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,971,458 | -€2,943,386 | +€28,072 | +0.9% |
| Amounts payable | 17/49 | €1,213,162 | €320,496 | -€892,666 | -73.6% |
| Amounts payable after more than one year | 17 | €100,000 | €100,000 | = | 0.0% |
| Financial debts | 170/4 | €100,000 | €100,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,112,862 | €220,496 | -€892,366 | -80.2% |
| Trade debts | 44 | €39,738 | €40,496 | +€758 | +1.9% |
| Suppliers | 440/4 | €39,738 | €40,496 | +€758 | +1.9% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €1,073,124 | €180,000 | -€893,124 | -83.2% |
| Accrued charges and deferred income | 492/3 | €300 | €0 | -€300 | -100% |
| Non-recurring operating income | 76A | €40,506 | €18,213 | -€22,293 | -55.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,724 | €6,489 | -€17,234 | -72.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €11,369 | €0 | -€11,369 | -100% |
| Other operating charges | 640/8 | €4,599 | €3,048 | -€1,551 | -33.7% |
| Non-recurring operating charges | 66A | €747,599 | €0 | -€747,599 | -100% |
| Gross operating margin | 9900 | €160,284 | €72,752 | -€87,532 | -54.6% |
| Operating profit (loss) | 9901 | -€627,007 | €63,215 | +€690,221 | |
| Financial income | 75/76B | - | €208 | +€208 | |
| Recurring financial income | 75 | - | €208 | +€208 | |
| Financial charges | 65/66B | €2,208,275 | €34,167 | -€2.2m | -98.5% |
| Recurring financial charges | 65 | €45,390 | €34,167 | -€11,223 | -24.7% |
| Non-recurring financial charges | 66B | €2,162,885 | €0 | -€2.2m | -100% |
| Profit (loss) for the period before taxes | 9903 | -€2,835,282 | €29,256 | +€2.9m | |
| Income taxes | 67/77 | - | €1,184 | +€1,184 | |
| Profit (loss) for the period | 9904 | -€2,835,282 | €28,072 | +€2.9m | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,835,282 | €28,072 | +€2.9m |
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 18 October 2026 via checked.be.