Madro: 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.
Madro
Largest movements
- Deferred charges and accrued income +€8,412
new in 2025: €8,412
- Cash +€1,903
up €1,903 (+24.9%), from €7,638 to €9,541
- Tax, wage and social debts +€8,005
up €8,005 (+80.9%), from €9,894 to €17,899
of which Remuneration and social security: +€5,644
- Other debts +€7,561
up €7,561 (+28.2%), from €26,854 to €34,415
- Profit (loss) carried forward -€5,723
down €5,723 (-17.2%), from -€33,177 to -€38,900
- Trade debts +€325
up €325 (+10.3%), from €3,154 to €3,479
- Gross operating margin +€15,106
up €15,106 (+158.2%), from €9,550 to €24,655
- Staff costs +€4,157
up €4,157 (+20.8%), from €19,980 to €24,138
- Other operating charges -€520
down €520 (-53.7%), from €970 to €449
From the 2023 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
A cash bridge needs two consecutive fiscal years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,226 | €19,394 | +€10,168 | +110.2% |
| Fixed assets | 21/28 | €1,504 | €1,441 | -€63 | -4.2% |
| Tangible fixed assets | 22/27 | €1,504 | €1,441 | -€63 | -4.2% |
| Plant, machinery and equipment | 23 | €1,504 | €1,441 | -€63 | -4.2% |
| Current assets | 29/58 | €7,722 | €17,953 | +€10,231 | +132.5% |
| Amounts receivable within one year | 40/41 | €84 | - | -€84 | |
| Other amounts receivable | 41 | €84 | - | -€84 | |
| Cash at bank and in hand | 54/58 | €7,638 | €9,541 | +€1,903 | +24.9% |
| Deferred charges and accrued income | 490/1 | - | €8,412 | +€8,412 | |
| Total equity and liabilities | 10/49 | €9,226 | €19,394 | +€10,168 | +110.2% |
| Equity | 10/15 | -€30,677 | -€36,400 | -€5,723 | -18.7% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€33,177 | -€38,900 | -€5,723 | -17.2% |
| Amounts payable | 17/49 | €39,903 | €55,793 | +€15,890 | +39.8% |
| Amounts payable within one year | 42/48 | €39,903 | €55,793 | +€15,890 | +39.8% |
| Trade debts | 44 | €3,154 | €3,479 | +€325 | +10.3% |
| Suppliers | 440/4 | €3,154 | €3,479 | +€325 | +10.3% |
| Taxes, remuneration and social security | 45 | €9,894 | €17,899 | +€8,005 | +80.9% |
| Taxes | 450/3 | €6,113 | €8,474 | +€2,361 | +38.6% |
| Remuneration and social security | 454/9 | €3,781 | €9,425 | +€5,644 | +149.3% |
| Other amounts payable | 47/48 | €26,854 | €34,415 | +€7,561 | +28.2% |
| Remuneration, social security and pensions | 62 | €19,980 | €24,138 | +€4,157 | +20.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33 | €15 | -€17 | -52.8% |
| Other operating charges | 640/8 | €970 | €449 | -€520 | -53.7% |
| Gross operating margin | 9900 | €9,550 | €24,655 | +€15,106 | +158.2% |
| Operating profit (loss) | 9901 | -€11,433 | €53 | +€11,486 | |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €196 | €153 | -€43 | -21.7% |
| Recurring financial charges | 65 | €196 | €153 | -€43 | -21.7% |
| Profit (loss) for the period before taxes | 9903 | -€11,629 | -€100 | +€11,528 | +99.1% |
| Profit (loss) for the period | 9904 | -€11,629 | -€100 | +€11,528 | +99.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€11,629 | -€100 | +€11,528 | +99.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2023 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.