MADRUGO: 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.
MADRUGO
Largest movements
- Cash -€6,544
down €6,544 (-30.7%), from €21,288 to €14,744
mainly Tax, wage and social debts (-€5,938) and Other debts (-€2,149)
- Receivables within one year -€2,694
down €2,694 (-9.3%), from €28,818 to €26,124
of which Trade receivables: -€26,307
- Deferred charges and accrued income +€1,151
up €1,151 (+133%), from €867 to €2,018
- Tax, wage and social debts -€5,938
down €5,938 (-34.5%), from €17,227 to €11,289
of which Taxes: -€4,738
- Other debts -€2,149
down €2,149 (-100%), from €2,149 to €0
- Gross operating margin -€40,832
down €40,832 (-94.5%), from €43,220 to €2,389
- Taxes -€8,014
down €8,014 (-87.5%), from €9,155 to €1,141
- Financial income +€513
up €513 (+1,025,180%), from €0 to €513
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 | €52,059 | €44,366 | -€7,693 | -14.8% |
| Fixed assets | 21/28 | €1,087 | €1,479 | +€393 | +36.1% |
| Tangible fixed assets | 22/27 | €1,087 | €1,479 | +€393 | +36.1% |
| Plant, machinery and equipment | 23 | €1,087 | €1,479 | +€393 | +36.1% |
| Current assets | 29/58 | €50,973 | €42,887 | -€8,086 | -15.9% |
| Amounts receivable within one year | 40/41 | €28,818 | €26,124 | -€2,694 | -9.3% |
| Trade receivables | 40 | €28,818 | €2,511 | -€26,307 | -91.3% |
| Other amounts receivable | 41 | - | €23,614 | +€23,614 | |
| Cash at bank and in hand | 54/58 | €21,288 | €14,744 | -€6,544 | -30.7% |
| Deferred charges and accrued income | 490/1 | €867 | €2,018 | +€1,151 | +133% |
| Total equity and liabilities | 10/49 | €52,059 | €44,366 | -€7,693 | -14.8% |
| Equity | 10/15 | €31,266 | €31,628 | +€362 | +1.2% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €28,766 | €28,766 | = | 0.0% |
| Distributable reserves | 133 | €28,766 | €28,766 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €362 | +€362 | |
| Amounts payable | 17/49 | €20,793 | €12,737 | -€8,056 | -38.7% |
| Amounts payable within one year | 42/48 | €20,793 | €12,737 | -€8,056 | -38.7% |
| Financial debts | 43 | €250 | €60 | -€190 | -76.0% |
| Credit institutions | 430/8 | €250 | €60 | -€190 | -76.0% |
| Trade debts | 44 | €1,167 | €1,388 | +€221 | +18.9% |
| Suppliers | 440/4 | €1,167 | €1,388 | +€221 | +18.9% |
| Taxes, remuneration and social security | 45 | €17,227 | €11,289 | -€5,938 | -34.5% |
| Taxes | 450/3 | €16,027 | €11,289 | -€4,738 | -29.6% |
| Remuneration and social security | 454/9 | €1,200 | €0 | -€1,200 | -100% |
| Other amounts payable | 47/48 | €2,149 | €0 | -€2,149 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €243 | €350 | +€107 | +44.1% |
| Other operating charges | 640/8 | €1,037 | €880 | -€157 | -15.1% |
| Gross operating margin | 9900 | €43,220 | €2,389 | -€40,832 | -94.5% |
| Operating profit (loss) | 9901 | €41,941 | €1,158 | -€40,782 | -97.2% |
| Financial income | 75/76B | €0 | €513 | +€513 | +1,025,180% |
| Recurring financial income | 75 | €0 | €513 | +€513 | +1,025,180% |
| Financial charges | 65/66B | €20 | €168 | +€148 | +757% |
| Recurring financial charges | 65 | €20 | €168 | +€148 | +757% |
| Profit (loss) for the period before taxes | 9903 | €41,921 | €1,503 | -€40,418 | -96.4% |
| Income taxes | 67/77 | €9,155 | €1,141 | -€8,014 | -87.5% |
| Profit (loss) for the period | 9904 | €32,766 | €362 | -€32,404 | -98.9% |
| Profit (loss) for the period to be appropriated | 9905 | €32,766 | €362 | -€32,404 | -98.9% |
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 31 October 2026 via checked.be.