MADUT: 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.
MADUT
Largest movements
- Current investments +€37,940
up €37,940 (+542.1%), from €6,999 to €44,940
- Cash -€22,664
down €22,664 (-61.4%), from €36,897 to €14,233
mainly Current investments (-€37,940) and Trade debts (-€74)
- Receivables within one year -€1,004
down €1,004 (-16.8%), from €5,983 to €4,979
of which Other amounts receivable: -€1,004
- Deferred charges and accrued income -€1,000
down €1,000 (-100.0%), from €1,000 to €0
- Reserves +€11,879
up €11,879 (+37.2%), from €31,954 to €43,833
- Tax, wage and social debts +€1,467
up €1,467 (+13.5%), from €10,902 to €12,368
- Gross operating margin +€13,064
up €13,064 (+280.9%), from €4,650 to €17,714
- Taxes +€2,573
up €2,573 (+71.7%), from €3,591 to €6,164
- Financial income +€955
up €955 (+724.0%), from €132 to €1,087
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 | €50,879 | €64,151 | +€13,272 | +26.1% |
| Current assets | 29/58 | €50,879 | €64,151 | +€13,272 | +26.1% |
| Amounts receivable within one year | 40/41 | €5,983 | €4,979 | -€1,004 | -16.8% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €5,983 | €4,979 | -€1,004 | -16.8% |
| Current investments | 50/53 | €6,999 | €44,940 | +€37,940 | +542.1% |
| Cash at bank and in hand | 54/58 | €36,897 | €14,233 | -€22,664 | -61.4% |
| Deferred charges and accrued income | 490/1 | €1,000 | €0 | -€1,000 | -100.0% |
| Total equity and liabilities | 10/49 | €50,879 | €64,151 | +€13,272 | +26.1% |
| Equity | 10/15 | €32,954 | €44,833 | +€11,879 | +36.0% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €31,954 | €43,833 | +€11,879 | +37.2% |
| Distributable reserves | 133 | €31,954 | €43,833 | +€11,879 | +37.2% |
| Amounts payable | 17/49 | €17,926 | €19,319 | +€1,393 | +7.8% |
| Amounts payable within one year | 42/48 | €17,926 | €19,319 | +€1,393 | +7.8% |
| Trade debts | 44 | €7,024 | €6,950 | -€74 | -1.0% |
| Suppliers | 440/4 | €7,024 | €6,950 | -€74 | -1.0% |
| Taxes, remuneration and social security | 45 | €10,902 | €12,368 | +€1,467 | +13.5% |
| Taxes | 450/3 | €10,902 | €12,368 | +€1,467 | +13.5% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €4,650 | €17,714 | +€13,064 | +280.9% |
| Operating profit (loss) | 9901 | €4,263 | €17,314 | +€13,052 | +306.2% |
| Financial income | 75/76B | €132 | €1,087 | +€955 | +724.0% |
| Recurring financial income | 75 | €132 | €1,087 | +€955 | +724.0% |
| Financial charges | 65/66B | €497 | €358 | -€139 | -28.0% |
| Recurring financial charges | 65 | €497 | €358 | -€139 | -28.0% |
| Profit (loss) for the period before taxes | 9903 | €3,897 | €18,043 | +€14,146 | +363.0% |
| Income taxes | 67/77 | €3,591 | €6,164 | +€2,573 | +71.7% |
| Profit (loss) for the period | 9904 | €306 | €11,879 | +€11,573 | +3779.5% |
| Profit (loss) for the period to be appropriated | 9905 | €306 | €11,879 | +€11,573 | +3779.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.