Maudgal Int.: 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.
Maudgal Int.
Largest movements
- Cash -€30,934
down €30,934 (-19.7%), from €157,001 to €126,067
mainly Trade debts (-€65,246) and Current portion of long-term debt (-€9,682)
- Receivables within one year -€30,870
down €30,870 (-30.9%), from €99,789 to €68,918
of which Trade receivables: -€41,638
- Tangible fixed assets -€11,863
down €11,863 (-22.2%), from €53,483 to €41,620
of which Furniture and vehicles: -€9,505
- Deferred charges and accrued income +€4,738
up €4,738 (+241%), from €1,965 to €6,703
- Trade debts -€65,246
down €65,246 (-79.2%), from €82,379 to €17,133
- Current portion of long-term debt -€9,682
down €9,682 (-100%), from €9,682 to €0
- Tax, wage and social debts +€5,681
up €5,681 (+116%), from €4,884 to €10,565
of which Taxes: +€5,729
- Other debts -€4,138
down €4,138 (-100%), from €4,138 to €0
- Gross operating margin -€72,699
down €72,699 (-70.3%), from €103,348 to €30,649
- Taxes -€22,469
down €22,469 (-75.2%), from €29,865 to €7,396
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 | €312,238 | €243,308 | -€68,930 | -22.1% |
| Fixed assets | 21/28 | €53,483 | €41,620 | -€11,863 | -22.2% |
| Tangible fixed assets | 22/27 | €53,483 | €41,620 | -€11,863 | -22.2% |
| Plant, machinery and equipment | 23 | €6,987 | €5,384 | -€1,603 | -22.9% |
| Furniture and vehicles | 24 | €40,308 | €30,803 | -€9,505 | -23.6% |
| Other tangible fixed assets | 26 | €6,188 | €5,433 | -€755 | -12.2% |
| Current assets | 29/58 | €258,755 | €201,688 | -€57,067 | -22.1% |
| Amounts receivable within one year | 40/41 | €99,789 | €68,918 | -€30,870 | -30.9% |
| Trade receivables | 40 | €98,776 | €57,138 | -€41,638 | -42.2% |
| Other amounts receivable | 41 | €1,012 | €11,780 | +€10,768 | +1,064% |
| Cash at bank and in hand | 54/58 | €157,001 | €126,067 | -€30,934 | -19.7% |
| Deferred charges and accrued income | 490/1 | €1,965 | €6,703 | +€4,738 | +241% |
| Total equity and liabilities | 10/49 | €312,238 | €243,308 | -€68,930 | -22.1% |
| Equity | 10/15 | €211,154 | €212,598 | +€1,444 | +0.7% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €198,654 | €200,098 | +€1,444 | +0.7% |
| Non-distributable reserves | 130/1 | €2,000 | €0 | -€2,000 | -100% |
| Reserves not available under the articles | 1311 | €2,000 | €0 | -€2,000 | -100% |
| Distributable reserves | 133 | €196,654 | €200,098 | +€3,444 | +1.8% |
| Amounts payable | 17/49 | €101,084 | €30,710 | -€70,374 | -69.6% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €101,084 | €27,697 | -€73,386 | -72.6% |
| Current portion of amounts payable after more than one year | 42 | €9,682 | €0 | -€9,682 | -100% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €82,379 | €17,133 | -€65,246 | -79.2% |
| Suppliers | 440/4 | €82,379 | €17,133 | -€65,246 | -79.2% |
| Taxes, remuneration and social security | 45 | €4,884 | €10,565 | +€5,681 | +116% |
| Taxes | 450/3 | €4,836 | €10,565 | +€5,729 | +118% |
| Remuneration and social security | 454/9 | €48 | €0 | -€48 | -100% |
| Other amounts payable | 47/48 | €4,138 | €0 | -€4,138 | -100% |
| Accrued charges and deferred income | 492/3 | €0 | €3,012 | +€3,012 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,954 | €15,443 | +€489 | +3.3% |
| Other operating charges | 640/8 | €1,517 | €1,755 | +€238 | +15.7% |
| Gross operating margin | 9900 | €103,348 | €30,649 | -€72,699 | -70.3% |
| Operating profit (loss) | 9901 | €86,878 | €13,452 | -€73,426 | -84.5% |
| Financial income | 75/76B | €337 | €895 | +€558 | +165% |
| Recurring financial income | 75 | €337 | €895 | +€558 | +165% |
| Financial charges | 65/66B | €5,055 | €4,473 | -€582 | -11.5% |
| Recurring financial charges | 65 | €5,055 | €4,473 | -€582 | -11.5% |
| Profit (loss) for the period before taxes | 9903 | €82,160 | €9,873 | -€72,287 | -88.0% |
| Income taxes | 67/77 | €29,865 | €7,396 | -€22,469 | -75.2% |
| Profit (loss) for the period | 9904 | €52,295 | €2,477 | -€49,818 | -95.3% |
| Profit (loss) for the period to be appropriated | 9905 | €52,295 | €2,477 | -€49,818 | -95.3% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.