MARYLENE MADOU: 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.
MARYLENE MADOU
Largest movements
- Receivables within one year +€3,961
up €3,961 (+176%), from €2,247 to €6,208
- Cash +€1,501
new in 2025: €1,501
mainly Debts after one year (+€14,329) and Other debts (+€7,394)
- Debts after one year +€14,329
up €14,329 (+53.1%), from €27,004 to €41,333
- Current portion of long-term debt -€13,557
down €13,557 (-72.4%), from €18,725 to €5,168
- Other debts +€7,394
up €7,394 (+64.7%), from €11,422 to €18,816
- Short-term financial debts -€6,544
down €6,544 (-91.4%), from €7,163 to €619
of which Other loans: -€3,762
- Tax, wage and social debts +€2,762
up €2,762 (+110%), from €2,505 to €5,267
of which Taxes: +€1,652
- Gross operating margin +€31,873
up €31,873, from -€17,381 to €14,492
- Staff costs +€5,499
new in 2025: €5,499
- Financial charges -€853
down €853 (-20.6%), from €4,140 to €3,287
- Other operating charges -€601
down €601 (-44.1%), from €1,362 to €761
- Financial income -€179
down €179 (-15.9%), from €1,127 to €948
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 | €34,217 | €39,101 | +€4,884 | +14.3% |
| Fixed assets | 21/28 | €5,392 | €4,896 | -€496 | -9.2% |
| Intangible fixed assets | 21 | €192 | €82 | -€110 | -57.3% |
| Tangible fixed assets | 22/27 | €5,200 | €4,814 | -€386 | -7.4% |
| Plant, machinery and equipment | 23 | €4,313 | €4,437 | +€124 | +2.9% |
| Furniture and vehicles | 24 | €887 | €377 | -€510 | -57.5% |
| Current assets | 29/58 | €28,825 | €34,205 | +€5,380 | +18.7% |
| Stocks and contracts in progress | 3 | €26,474 | €26,377 | -€97 | -0.4% |
| Stocks | 30/36 | €26,474 | €26,377 | -€97 | -0.4% |
| Amounts receivable within one year | 40/41 | €2,247 | €6,208 | +€3,961 | +176% |
| Trade receivables | 40 | €2,247 | €6,208 | +€3,961 | +176% |
| Cash at bank and in hand | 54/58 | - | €1,501 | +€1,501 | |
| Deferred charges and accrued income | 490/1 | €104 | €119 | +€15 | +14.4% |
| Total equity and liabilities | 10/49 | €34,217 | €39,101 | +€4,884 | +14.3% |
| Equity | 10/15 | -€40,153 | -€37,740 | +€2,413 | +6.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€60,153 | -€57,740 | +€2,413 | +4.0% |
| Amounts payable | 17/49 | €74,370 | €76,841 | +€2,471 | +3.3% |
| Amounts payable after more than one year | 17 | €27,004 | €41,333 | +€14,329 | +53.1% |
| Financial debts | 170/4 | €27,004 | €41,333 | +€14,329 | +53.1% |
| Amounts payable within one year | 42/48 | €46,737 | €35,508 | -€11,229 | -24.0% |
| Current portion of amounts payable after more than one year | 42 | €18,725 | €5,168 | -€13,557 | -72.4% |
| Financial debts | 43 | €7,163 | €619 | -€6,544 | -91.4% |
| Credit institutions | 430/8 | €3,401 | €619 | -€2,782 | -81.8% |
| Other loans | 439 | €3,762 | - | -€3,762 | |
| Trade debts | 44 | €6,922 | €5,638 | -€1,284 | -18.5% |
| Suppliers | 440/4 | €6,922 | €5,638 | -€1,284 | -18.5% |
| Taxes, remuneration and social security | 45 | €2,505 | €5,267 | +€2,762 | +110% |
| Taxes | 450/3 | €2,505 | €4,157 | +€1,652 | +65.9% |
| Remuneration and social security | 454/9 | - | €1,110 | +€1,110 | |
| Other amounts payable | 47/48 | €11,422 | €18,816 | +€7,394 | +64.7% |
| Accrued charges and deferred income | 492/3 | €629 | - | -€629 | |
| Remuneration, social security and pensions | 62 | - | €5,499 | +€5,499 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,216 | €3,340 | +€124 | +3.9% |
| Other operating charges | 640/8 | €1,362 | €761 | -€601 | -44.1% |
| Gross operating margin | 9900 | -€17,381 | €14,492 | +€31,873 | |
| Operating profit (loss) | 9901 | -€21,959 | €4,892 | +€26,851 | |
| Financial income | 75/76B | €1,127 | €948 | -€179 | -15.9% |
| Recurring financial income | 75 | €1,127 | €948 | -€179 | -15.9% |
| Financial charges | 65/66B | €4,140 | €3,287 | -€853 | -20.6% |
| Recurring financial charges | 65 | €4,140 | €3,287 | -€853 | -20.6% |
| Profit (loss) for the period before taxes | 9903 | -€24,972 | €2,553 | +€27,525 | |
| Income taxes | 67/77 | €140 | €141 | +€1 | +0.7% |
| Profit (loss) for the period | 9904 | -€25,112 | €2,412 | +€27,524 | |
| Profit (loss) for the period to be appropriated | 9905 | -€25,112 | €2,412 | +€27,524 |
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 1 November 2026 via checked.be.