MAED CONSULTING: 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.
MAED CONSULTING
Largest movements
- Tangible fixed assets +€33,391
up €33,391 (+118%), from €28,252 to €61,644
of which Other tangible fixed assets: +€39,476
- Cash -€22,592
down €22,592 (-20.8%), from €108,507 to €85,915
mainly Investment in fixed assets (net) (-€39,983) and Debts after one year (-€23,232)
- Receivables within one year +€21,989
up €21,989 (+26.7%), from €82,401 to €104,390
of which Other amounts receivable: +€51,174
- Profit (loss) carried forward +€61,083
up €61,083 (+38.9%), from €156,853 to €217,936
- Debts after one year -€23,232
down €23,232 (-41.4%), from €56,144 to €32,912
- Tax, wage and social debts -€4,432
no longer reported in 2025 (was €4,432)
- Depreciation -€28,110
down €28,110 (-81.0%), from €34,702 to €6,592
- Financial income -€12,093
down €12,093 (-97.8%), from €12,361 to €268
- Taxes +€7,012
up €7,012 (+54.0%), from €12,987 to €19,999
- Gross operating margin -€4,586
down €4,586 (-4.9%), from €94,300 to €89,715
- Other operating charges +€1,292
up €1,292 (+325%), from €398 to €1,690
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 | €219,160 | €251,948 | +€32,789 | +15.0% |
| Fixed assets | 21/28 | €28,252 | €61,644 | +€33,391 | +118% |
| Tangible fixed assets | 22/27 | €28,252 | €61,644 | +€33,391 | +118% |
| Furniture and vehicles | 24 | €18,802 | €12,718 | -€6,085 | -32.4% |
| Other tangible fixed assets | 26 | €9,450 | €48,926 | +€39,476 | +418% |
| Current assets | 29/58 | €190,907 | €190,305 | -€603 | -0.3% |
| Amounts receivable within one year | 40/41 | €82,401 | €104,390 | +€21,989 | +26.7% |
| Trade receivables | 40 | €46,210 | €17,025 | -€29,185 | -63.2% |
| Other amounts receivable | 41 | €36,191 | €87,365 | +€51,174 | +141% |
| Cash at bank and in hand | 54/58 | €108,507 | €85,915 | -€22,592 | -20.8% |
| Total equity and liabilities | 10/49 | €219,160 | €251,948 | +€32,789 | +15.0% |
| Equity | 10/15 | €157,953 | €219,036 | +€61,083 | +38.7% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €100 | €100 | = | 0.0% |
| Non-distributable reserves | 130/1 | €100 | €100 | = | 0.0% |
| Reserves not available under the articles | 1311 | €100 | €100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €156,853 | €217,936 | +€61,083 | +38.9% |
| Amounts payable | 17/49 | €61,207 | €32,912 | -€28,294 | -46.2% |
| Amounts payable after more than one year | 17 | €56,144 | €32,912 | -€23,232 | -41.4% |
| Financial debts | 170/4 | €56,144 | €32,912 | -€23,232 | -41.4% |
| Amounts payable within one year | 42/48 | €5,063 | - | -€5,063 | |
| Trade debts | 44 | €631 | - | -€631 | |
| Suppliers | 440/4 | €631 | - | -€631 | |
| Taxes, remuneration and social security | 45 | €4,432 | - | -€4,432 | |
| Taxes | 450/3 | €4,432 | - | -€4,432 | |
| Remuneration, social security and pensions | 62 | - | €445 | +€445 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,702 | €6,592 | -€28,110 | -81.0% |
| Other operating charges | 640/8 | €398 | €1,690 | +€1,292 | +325% |
| Gross operating margin | 9900 | €94,300 | €89,715 | -€4,586 | -4.9% |
| Operating profit (loss) | 9901 | €59,200 | €80,988 | +€21,788 | +36.8% |
| Financial income | 75/76B | €12,361 | €268 | -€12,093 | -97.8% |
| Recurring financial income | 75 | €12,361 | €268 | -€12,093 | -97.8% |
| Financial charges | 65/66B | €186 | €173 | -€13 | -6.9% |
| Recurring financial charges | 65 | €186 | €173 | -€13 | -6.9% |
| Profit (loss) for the period before taxes | 9903 | €71,374 | €81,082 | +€9,708 | +13.6% |
| Income taxes | 67/77 | €12,987 | €19,999 | +€7,012 | +54.0% |
| Profit (loss) for the period | 9904 | €58,387 | €61,083 | +€2,696 | +4.6% |
| Profit (loss) for the period to be appropriated | 9905 | €58,387 | €61,083 | +€2,696 | +4.6% |
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 22 October 2026 via checked.be.