MADRIVOS: 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.
MADRIVOS
Largest movements
- Tangible fixed assets -€29,504
down €29,504 (-3.9%), from €754,832 to €725,328
of which Land and buildings: -€28,653
- Cash +€8,773
up €8,773 (+21.4%), from €41,000 to €49,773
mainly Net result for the year (+€66,348) and Depreciation (+€29,504)
- Debts after one year -€66,406
down €66,406 (-27.8%), from €238,790 to €172,384
- Reserves +€34,916
up €34,916 (+14.1%), from €247,181 to €282,097
- Gross operating margin +€8,206
up €8,206 (+6.2%), from €131,314 to €139,521
- Taxes +€2,989
up €2,989 (+10.7%), from €27,974 to €30,963
- Depreciation +€2,469
up €2,469 (+9.1%), from €27,035 to €29,504
- Financial charges -€1,924
down €1,924 (-16.7%), from €11,498 to €9,574
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 | €798,781 | €778,263 | -€20,519 | -2.6% |
| Fixed assets | 21/28 | €754,832 | €725,328 | -€29,504 | -3.9% |
| Tangible fixed assets | 22/27 | €754,832 | €725,328 | -€29,504 | -3.9% |
| Land and buildings | 22 | €751,425 | €722,773 | -€28,653 | -3.8% |
| Furniture and vehicles | 24 | €3,407 | €2,555 | -€852 | -25.0% |
| Current assets | 29/58 | €43,949 | €52,935 | +€8,985 | +20.4% |
| Cash at bank and in hand | 54/58 | €41,000 | €49,773 | +€8,773 | +21.4% |
| Deferred charges and accrued income | 490/1 | €2,950 | €3,162 | +€212 | +7.2% |
| Total equity and liabilities | 10/49 | €798,781 | €778,263 | -€20,519 | -2.6% |
| Equity | 10/15 | €375,181 | €410,097 | +€34,916 | +9.3% |
| Contributions | 10/11 | €128,000 | €128,000 | = | 0.0% |
| Reserves | 13 | €247,181 | €282,097 | +€34,916 | +14.1% |
| Distributable reserves | 133 | €247,181 | €282,097 | +€34,916 | +14.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €423,601 | €368,166 | -€55,435 | -13.1% |
| Amounts payable after more than one year | 17 | €238,790 | €172,384 | -€66,406 | -27.8% |
| Financial debts | 170/4 | €238,790 | €172,384 | -€66,406 | -27.8% |
| Amounts payable within one year | 42/48 | €180,963 | €191,902 | +€10,940 | +6.0% |
| Current portion of amounts payable after more than one year | 42 | €64,394 | €66,406 | +€2,012 | +3.1% |
| Trade debts | 44 | €2,950 | €803 | -€2,146 | -72.8% |
| Suppliers | 440/4 | €2,950 | €803 | -€2,146 | -72.8% |
| Taxes, remuneration and social security | 45 | €5,474 | €10,963 | +€5,489 | +100.3% |
| Taxes | 450/3 | €5,474 | €10,963 | +€5,489 | +100.3% |
| Other amounts payable | 47/48 | €108,146 | €113,731 | +€5,585 | +5.2% |
| Accrued charges and deferred income | 492/3 | €3,848 | €3,879 | +€31 | +0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,035 | €29,504 | +€2,469 | +9.1% |
| Other operating charges | 640/8 | €3,974 | €3,131 | -€843 | -21.2% |
| Gross operating margin | 9900 | €131,314 | €139,521 | +€8,206 | +6.2% |
| Operating profit (loss) | 9901 | €100,305 | €106,885 | +€6,580 | +6.6% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €11,498 | €9,574 | -€1,924 | -16.7% |
| Recurring financial charges | 65 | €11,498 | €9,574 | -€1,924 | -16.7% |
| Profit (loss) for the period before taxes | 9903 | €88,807 | €97,311 | +€8,503 | +9.6% |
| Income taxes | 67/77 | €27,974 | €30,963 | +€2,989 | +10.7% |
| Profit (loss) for the period | 9904 | €60,834 | €66,348 | +€5,515 | +9.1% |
| Profit (loss) for the period to be appropriated | 9905 | €60,834 | €66,348 | +€5,515 | +9.1% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.