MADRIMO: 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.
MADRIMO
Largest movements
- Cash -€19,705
down €19,705 (-43.8%), from €44,960 to €25,255
mainly Investment in fixed assets (net) (-€142,606) and Net result for the year (-€46,595)
- Tangible fixed assets +€13,973
up €13,973 (+2.1%), from €670,796 to €684,769
of which Furniture and vehicles: +€67,157
- Profit (loss) carried forward -€46,595
new in 2025: -€46,595
- Current portion of long-term debt +€30,729
up €30,729 (+36.8%), from €83,471 to €114,200
- Tax, wage and social debts +€9,453
up €9,453 (+88.9%), from €10,629 to €20,082
of which Taxes: +€9,092
- Gross operating margin -€81,508
down €81,508 (-36.8%), from €221,566 to €140,059
- Depreciation +€25,471
up €25,471 (+24.7%), from €103,162 to €128,633
- Financial charges -€11,152
down €11,152 (-56.5%), from €19,740 to €8,588
- Taxes -€11,139
down €11,139 (-100%), from €11,139 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 | €763,055 | €752,731 | -€10,324 | -1.4% |
| Fixed assets | 21/28 | €671,294 | €685,267 | +€13,973 | +2.1% |
| Tangible fixed assets | 22/27 | €670,796 | €684,769 | +€13,973 | +2.1% |
| Land and buildings | 22 | €82,673 | €75,629 | -€7,044 | -8.5% |
| Plant, machinery and equipment | 23 | €530,158 | €484,018 | -€46,140 | -8.7% |
| Furniture and vehicles | 24 | €57,965 | €125,122 | +€67,157 | +116% |
| Financial fixed assets | 28 | €498 | €498 | = | 0.0% |
| Current assets | 29/58 | €91,761 | €67,463 | -€24,297 | -26.5% |
| Amounts receivable within one year | 40/41 | €44,107 | €39,629 | -€4,478 | -10.2% |
| Trade receivables | 40 | €37,312 | €31,555 | -€5,756 | -15.4% |
| Other amounts receivable | 41 | €6,796 | €8,073 | +€1,278 | +18.8% |
| Cash at bank and in hand | 54/58 | €44,960 | €25,255 | -€19,705 | -43.8% |
| Deferred charges and accrued income | 490/1 | €2,693 | €2,579 | -€114 | -4.2% |
| Total equity and liabilities | 10/49 | €763,055 | €752,731 | -€10,324 | -1.4% |
| Equity | 10/15 | €272,970 | €226,375 | -€46,595 | -17.1% |
| Contributions | 10/11 | €131,300 | €131,300 | = | 0.0% |
| Reserves | 13 | €141,670 | €141,670 | = | 0.0% |
| Distributable reserves | 133 | €141,670 | €141,670 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€46,595 | -€46,595 | |
| Amounts payable | 17/49 | €490,085 | €526,356 | +€36,271 | +7.4% |
| Amounts payable after more than one year | 17 | €204,695 | €205,040 | +€346 | +0.2% |
| Financial debts | 170/4 | €204,695 | €205,040 | +€346 | +0.2% |
| Amounts payable within one year | 42/48 | €285,390 | €321,315 | +€35,925 | +12.6% |
| Current portion of amounts payable after more than one year | 42 | €83,471 | €114,200 | +€30,729 | +36.8% |
| Trade debts | 44 | €7,343 | €2,095 | -€5,248 | -71.5% |
| Suppliers | 440/4 | €7,343 | €2,095 | -€5,248 | -71.5% |
| Taxes, remuneration and social security | 45 | €10,629 | €20,082 | +€9,453 | +88.9% |
| Taxes | 450/3 | €7,392 | €16,484 | +€9,092 | +123% |
| Remuneration and social security | 454/9 | €3,237 | €3,598 | +€361 | +11.1% |
| Other amounts payable | 47/48 | €183,946 | €184,938 | +€991 | +0.5% |
| Non-recurring operating income | 76A | €63,418 | €8,500 | -€54,918 | -86.6% |
| Remuneration, social security and pensions | 62 | €46,555 | €48,312 | +€1,757 | +3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €103,162 | €128,633 | +€25,471 | +24.7% |
| Other operating charges | 640/8 | €2,016 | €2,032 | +€15 | +0.8% |
| Gross operating margin | 9900 | €221,566 | €140,059 | -€81,508 | -36.8% |
| Operating profit (loss) | 9901 | €69,833 | -€38,917 | -€108,750 | |
| Financial income | 75/76B | €646 | €910 | +€264 | +40.9% |
| Recurring financial income | 75 | €646 | €910 | +€264 | +40.9% |
| Financial charges | 65/66B | €19,740 | €8,588 | -€11,152 | -56.5% |
| Recurring financial charges | 65 | €19,740 | €8,588 | -€11,152 | -56.5% |
| Profit (loss) for the period before taxes | 9903 | €50,739 | -€46,595 | -€97,335 | |
| Income taxes | 67/77 | €11,139 | €0 | -€11,139 | -100% |
| Profit (loss) for the period | 9904 | €39,601 | -€46,595 | -€86,196 | |
| Profit (loss) for the period to be appropriated | 9905 | €39,601 | -€46,595 | -€86,196 |
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 29 October 2026 via checked.be.