MADZOU: 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.
MADZOU
Largest movements
- Receivables within one year -€2,956
down €2,956 (-15.8%), from €18,713 to €15,757
of which Trade receivables: -€2,190
- Cash +€1,546
up €1,546 (+26.7%), from €5,795 to €7,340
mainly Receivables within one year (+€2,956) and Net result for the year (+€1,384)
- Tangible fixed assets -€686
down €686 (-31.6%), from €2,174 to €1,487
- Formation expenses -€628
no longer reported in 2025 (was €628)
- Trade debts -€1,938
no longer reported in 2025 (was €1,938)
- Profit (loss) carried forward +€1,384
up €1,384 (+690.6%), from €200 to €1,584
- Current portion of long-term debt -€1,181
down €1,181 (-76.4%), from €1,546 to €365
- Tax, wage and social debts -€596
down €596 (-10.8%), from €5,507 to €4,911
- Gross operating margin -€5,152
down €5,152 (-54.1%), from €9,523 to €4,371
- Taxes -€972
down €972 (-39.9%), from €2,436 to €1,464
- Other operating charges -€813
down €813 (-66.9%), from €1,215 to €402
- Depreciation -€360
down €360 (-21.5%), from €1,675 to €1,315
- Financial income +€141
up €141 (+49.8%), from €284 to €425
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 | €27,585 | €25,010 | -€2,575 | -9.3% |
| Formation expenses | 20 | €628 | - | -€628 | |
| Fixed assets | 21/28 | €2,174 | €1,487 | -€686 | -31.6% |
| Tangible fixed assets | 22/27 | €2,174 | €1,487 | -€686 | -31.6% |
| Furniture and vehicles | 24 | €2,174 | €1,487 | -€686 | -31.6% |
| Current assets | 29/58 | €24,783 | €23,522 | -€1,261 | -5.1% |
| Amounts receivable within one year | 40/41 | €18,713 | €15,757 | -€2,956 | -15.8% |
| Trade receivables | 40 | €11,526 | €9,336 | -€2,190 | -19.0% |
| Other amounts receivable | 41 | €7,187 | €6,421 | -€766 | -10.7% |
| Cash at bank and in hand | 54/58 | €5,795 | €7,340 | +€1,546 | +26.7% |
| Deferred charges and accrued income | 490/1 | €275 | €425 | +€150 | +54.5% |
| Total equity and liabilities | 10/49 | €27,585 | €25,010 | -€2,575 | -9.3% |
| Equity | 10/15 | €18,350 | €19,734 | +€1,384 | +7.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €15,150 | €15,150 | = | 0.0% |
| Distributable reserves | 133 | €15,150 | €15,150 | = | 0.0% |
| Profit (loss) carried forward | 14 | €200 | €1,584 | +€1,384 | +690.6% |
| Amounts payable | 17/49 | €9,234 | €5,275 | -€3,959 | -42.9% |
| Amounts payable after more than one year | 17 | €244 | - | -€244 | |
| Financial debts | 170/4 | €244 | - | -€244 | |
| Amounts payable within one year | 42/48 | €8,991 | €5,275 | -€3,716 | -41.3% |
| Current portion of amounts payable after more than one year | 42 | €1,546 | €365 | -€1,181 | -76.4% |
| Trade debts | 44 | €1,938 | - | -€1,938 | |
| Suppliers | 440/4 | €1,938 | - | -€1,938 | |
| Taxes, remuneration and social security | 45 | €5,507 | €4,911 | -€596 | -10.8% |
| Taxes | 450/3 | €5,507 | €4,911 | -€596 | -10.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,675 | €1,315 | -€360 | -21.5% |
| Other operating charges | 640/8 | €1,215 | €402 | -€813 | -66.9% |
| Gross operating margin | 9900 | €9,523 | €4,371 | -€5,152 | -54.1% |
| Operating profit (loss) | 9901 | €6,633 | €2,655 | -€3,978 | -60.0% |
| Financial income | 75/76B | €284 | €425 | +€141 | +49.8% |
| Recurring financial income | 75 | €284 | €425 | +€141 | +49.8% |
| Financial charges | 65/66B | €330 | €232 | -€98 | -29.7% |
| Recurring financial charges | 65 | €330 | €232 | -€98 | -29.7% |
| Profit (loss) for the period before taxes | 9903 | €6,587 | €2,848 | -€3,739 | -56.8% |
| Income taxes | 67/77 | €2,436 | €1,464 | -€972 | -39.9% |
| Profit (loss) for the period | 9904 | €4,151 | €1,384 | -€2,767 | -66.7% |
| Profit (loss) for the period to be appropriated | 9905 | €4,151 | €1,384 | -€2,767 | -66.7% |
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 11 October 2026 via checked.be.