THE MADHOUSE: 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.
THE MADHOUSE
Largest movements
- Cash -€50,414
down €50,414 (-70.9%), from €71,066 to €20,653
mainly Net result for the year (-€37,117) and Tax, wage and social debts (-€15,579)
- Tangible fixed assets -€1,402
down €1,402 (-10.7%), from €13,100 to €11,698
- Receivables within one year -€1,359
down €1,359 (-6.3%), from €21,594 to €20,235
of which Trade receivables: -€6,964
- Profit (loss) carried forward -€37,117
new in 2025: -€37,117
- Tax, wage and social debts -€15,579
down €15,579 (-85.2%), from €18,274 to €2,696
- Other debts -€2,679
down €2,679 (-90.2%), from €2,971 to €292
- Accrued charges and deferred income +€1,513
new in 2025: €1,513
- Gross operating margin -€61,910
down €61,910, from €28,139 to -€33,771
- Taxes -€5,605
down €5,605 (-97.7%), from €5,738 to €133
- Financial charges +€769
up €769 (+109%), from €708 to €1,477
- Depreciation +€719
up €719 (+105%), from €683 to €1,402
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 | €108,581 | €54,769 | -€53,812 | -49.6% |
| Fixed assets | 21/28 | €14,281 | €12,879 | -€1,402 | -9.8% |
| Tangible fixed assets | 22/27 | €13,100 | €11,698 | -€1,402 | -10.7% |
| Land and buildings | 22 | €13,100 | €11,698 | -€1,402 | -10.7% |
| Financial fixed assets | 28 | €1,181 | €1,181 | = | 0.0% |
| Current assets | 29/58 | €94,300 | €41,890 | -€52,410 | -55.6% |
| Amounts receivable within one year | 40/41 | €21,594 | €20,235 | -€1,359 | -6.3% |
| Trade receivables | 40 | €19,832 | €12,868 | -€6,964 | -35.1% |
| Other amounts receivable | 41 | €1,762 | €7,367 | +€5,605 | +318% |
| Cash at bank and in hand | 54/58 | €71,066 | €20,653 | -€50,414 | -70.9% |
| Deferred charges and accrued income | 490/1 | €1,640 | €1,003 | -€637 | -38.9% |
| Total equity and liabilities | 10/49 | €108,581 | €54,769 | -€53,812 | -49.6% |
| Equity | 10/15 | €86,048 | €48,931 | -€37,117 | -43.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €83,048 | €83,048 | = | 0.0% |
| Distributable reserves | 133 | €83,048 | €83,048 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€37,117 | -€37,117 | |
| Amounts payable | 17/49 | €22,533 | €5,838 | -€16,695 | -74.1% |
| Amounts payable within one year | 42/48 | €22,533 | €4,325 | -€18,208 | -80.8% |
| Trade debts | 44 | €1,288 | €1,337 | +€50 | +3.9% |
| Suppliers | 440/4 | €1,288 | €1,337 | +€50 | +3.9% |
| Taxes, remuneration and social security | 45 | €18,274 | €2,696 | -€15,579 | -85.2% |
| Taxes | 450/3 | €18,274 | €2,696 | -€15,579 | -85.2% |
| Other amounts payable | 47/48 | €2,971 | €292 | -€2,679 | -90.2% |
| Accrued charges and deferred income | 492/3 | - | €1,513 | +€1,513 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €683 | €1,402 | +€719 | +105% |
| Other operating charges | 640/8 | €376 | €369 | -€7 | -1.8% |
| Gross operating margin | 9900 | €28,139 | -€33,771 | -€61,910 | |
| Operating profit (loss) | 9901 | €27,081 | -€35,542 | -€62,623 | |
| Financial income | 75/76B | €0 | €34 | +€34 | |
| Recurring financial income | 75 | €0 | €34 | +€34 | |
| Financial charges | 65/66B | €708 | €1,477 | +€769 | +109% |
| Recurring financial charges | 65 | €708 | €1,477 | +€769 | +109% |
| Profit (loss) for the period before taxes | 9903 | €26,373 | -€36,984 | -€63,357 | |
| Income taxes | 67/77 | €5,738 | €133 | -€5,605 | -97.7% |
| Profit (loss) for the period | 9904 | €20,635 | -€37,117 | -€57,752 | |
| Profit (loss) for the period to be appropriated | 9905 | €20,635 | -€37,117 | -€57,752 |
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 24 October 2026 via checked.be.