Maudem: 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.
Maudem
Largest movements
- Cash +€34,770
up €34,770 (+239.8%), from €14,501 to €49,271
mainly Net result for the year (+€50,437) and Other debts (+€48,264)
- Current investments +€11,222
new in 2025: €11,222
- Receivables after one year -€8,000
down €8,000 (-8.0%), from €100,000 to €92,000
- Receivables within one year +€6,505
up €6,505 (+143.4%), from €4,536 to €11,041
of which Trade receivables: +€7,783
- Tangible fixed assets -€1,732
down €1,732 (-30.8%), from €5,624 to €3,892
of which Furniture and vehicles: -€1,429
- Other debts +€48,264
up €48,264 (+83.8%), from €57,624 to €105,888
- Debts after one year -€9,427
down €9,427 (-22.9%), from €41,086 to €31,659
- Tax, wage and social debts +€3,027
up €3,027 (+20.3%), from €14,926 to €17,953
- Gross operating margin +€13,070
up €13,070 (+24.7%), from €53,019 to €66,089
- Taxes +€2,969
up €2,969 (+27.7%), from €10,722 to €13,691
- Financial income +€2,355
new in 2025: €2,355
- Financial charges +€2,169
up €2,169 (+4618.2%), from €47 to €2,216
- Other operating charges -€788
down €788 (-68.2%), from €1,156 to €368
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 | €125,050 | €167,426 | +€42,376 | +33.9% |
| Fixed assets | 21/28 | €5,624 | €3,892 | -€1,732 | -30.8% |
| Tangible fixed assets | 22/27 | €5,624 | €3,892 | -€1,732 | -30.8% |
| Plant, machinery and equipment | 23 | €1,304 | €1,002 | -€303 | -23.2% |
| Furniture and vehicles | 24 | €4,320 | €2,890 | -€1,429 | -33.1% |
| Current assets | 29/58 | €119,426 | €163,534 | +€44,108 | +36.9% |
| Amounts receivable after more than one year | 29 | €100,000 | €92,000 | -€8,000 | -8.0% |
| Other amounts receivable | 291 | €100,000 | €92,000 | -€8,000 | -8.0% |
| Amounts receivable within one year | 40/41 | €4,536 | €11,041 | +€6,505 | +143.4% |
| Trade receivables | 40 | €3,258 | €11,041 | +€7,783 | +238.9% |
| Other amounts receivable | 41 | €1,278 | - | -€1,278 | |
| Current investments | 50/53 | - | €11,222 | +€11,222 | |
| Cash at bank and in hand | 54/58 | €14,501 | €49,271 | +€34,770 | +239.8% |
| Deferred charges and accrued income | 490/1 | €389 | - | -€389 | |
| Total equity and liabilities | 10/49 | €125,050 | €167,426 | +€42,376 | +33.9% |
| Equity | 10/15 | €2,500 | €2,500 | = | 0.0% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Amounts payable | 17/49 | €122,550 | €164,926 | +€42,376 | +34.6% |
| Amounts payable after more than one year | 17 | €41,086 | €31,659 | -€9,427 | -22.9% |
| Financial debts | 170/4 | €41,086 | €31,659 | -€9,427 | -22.9% |
| Amounts payable within one year | 42/48 | €81,464 | €133,267 | +€51,803 | +63.6% |
| Current portion of amounts payable after more than one year | 42 | €8,914 | €9,427 | +€513 | +5.8% |
| Taxes, remuneration and social security | 45 | €14,926 | €17,953 | +€3,027 | +20.3% |
| Taxes | 450/3 | €14,926 | €17,953 | +€3,027 | +20.3% |
| Other amounts payable | 47/48 | €57,624 | €105,888 | +€48,264 | +83.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,546 | €1,732 | +€186 | +12.0% |
| Other operating charges | 640/8 | €1,156 | €368 | -€788 | -68.2% |
| Gross operating margin | 9900 | €53,019 | €66,089 | +€13,070 | +24.7% |
| Operating profit (loss) | 9901 | €50,317 | €63,989 | +€13,672 | +27.2% |
| Financial income | 75/76B | - | €2,355 | +€2,355 | |
| Recurring financial income | 75 | - | €2,355 | +€2,355 | |
| Financial charges | 65/66B | €47 | €2,216 | +€2,169 | +4618.2% |
| Recurring financial charges | 65 | €47 | €2,216 | +€2,169 | +4618.2% |
| Profit (loss) for the period before taxes | 9903 | €50,270 | €64,129 | +€13,859 | +27.6% |
| Income taxes | 67/77 | €10,722 | €13,691 | +€2,969 | +27.7% |
| Profit (loss) for the period | 9904 | €39,548 | €50,437 | +€10,890 | +27.5% |
| Profit (loss) for the period to be appropriated | 9905 | €39,548 | €50,437 | +€10,890 | +27.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.