Madebel: 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.
Madebel
Largest movements
- Cash +€552,661
up €552,661 (+100%), from €552,032 to €1.1m
mainly Net result for the year (+€895,391) and Other debts (+€19,185)
- Profit (loss) carried forward +€758,972
up €758,972 (+52.3%), from €1.5m to €2.2m
- Debts after one year -€227,030
down €227,030 (-19.1%), from €1.2m to €962,224
- Financial income +€908,204
up €908,204 (+1,903,993%), from €48 to €908,252
- Gross operating margin -€17,166
down €17,166 (-4.2%), from €406,937 to €389,771
- Staff costs +€13,401
up €13,401 (+4.2%), from €321,087 to €334,487
- Financial charges -€9,323
down €9,323 (-12.5%), from €74,477 to €65,154
- Taxes -€5,285
down €5,285 (-74.9%), from €7,055 to €1,770
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 | €3,074,572 | €3,622,523 | +€547,951 | +17.8% |
| Fixed assets | 21/28 | €2,386,267 | €2,386,267 | = | 0.0% |
| Financial fixed assets | 28 | €2,386,267 | €2,386,267 | = | 0.0% |
| Current assets | 29/58 | €688,305 | €1,236,256 | +€547,951 | +79.6% |
| Amounts receivable within one year | 40/41 | €136,127 | €131,563 | -€4,564 | -3.4% |
| Other amounts receivable | 41 | €136,127 | €131,563 | -€4,564 | -3.4% |
| Cash at bank and in hand | 54/58 | €552,032 | €1,104,693 | +€552,661 | +100% |
| Deferred charges and accrued income | 490/1 | €146 | €0 | -€146 | -100% |
| Total equity and liabilities | 10/49 | €3,074,572 | €3,622,523 | +€547,951 | +17.8% |
| Equity | 10/15 | €1,461,328 | €2,220,300 | +€758,972 | +51.9% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,451,328 | €2,210,300 | +€758,972 | +52.3% |
| Amounts payable | 17/49 | €1,613,245 | €1,402,223 | -€211,022 | -13.1% |
| Amounts payable after more than one year | 17 | €1,189,254 | €962,224 | -€227,030 | -19.1% |
| Financial debts | 170/4 | €1,189,254 | €962,224 | -€227,030 | -19.1% |
| Amounts payable within one year | 42/48 | €423,991 | €439,998 | +€16,008 | +3.8% |
| Current portion of amounts payable after more than one year | 42 | €217,867 | €227,030 | +€9,162 | +4.2% |
| Trade debts | 44 | €5,969 | €2,464 | -€3,505 | -58.7% |
| Suppliers | 440/4 | €5,969 | €2,464 | -€3,505 | -58.7% |
| Taxes, remuneration and social security | 45 | €82,691 | €73,857 | -€8,835 | -10.7% |
| Taxes | 450/3 | €47,856 | €37,056 | -€10,800 | -22.6% |
| Remuneration and social security | 454/9 | €34,835 | €36,800 | +€1,966 | +5.6% |
| Other amounts payable | 47/48 | €117,463 | €136,648 | +€19,185 | +16.3% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €321,087 | €334,487 | +€13,401 | +4.2% |
| Other operating charges | 640/8 | €1,171 | €1,220 | +€50 | +4.2% |
| Gross operating margin | 9900 | €406,937 | €389,771 | -€17,166 | -4.2% |
| Operating profit (loss) | 9901 | €84,680 | €54,063 | -€30,616 | -36.2% |
| Financial income | 75/76B | €48 | €908,252 | +€908,204 | +1,903,993% |
| Recurring financial income | 75 | €48 | €908,252 | +€908,204 | +1,903,993% |
| Financial charges | 65/66B | €74,477 | €65,154 | -€9,323 | -12.5% |
| Recurring financial charges | 65 | €74,477 | €65,154 | -€9,323 | -12.5% |
| Profit (loss) for the period before taxes | 9903 | €10,251 | €897,162 | +€886,911 | +8,652% |
| Income taxes | 67/77 | €7,055 | €1,770 | -€5,285 | -74.9% |
| Profit (loss) for the period | 9904 | €3,195 | €895,391 | +€892,196 | +27,921% |
| Profit (loss) for the period to be appropriated | 9905 | €3,195 | €895,391 | +€892,196 | +27,921% |
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.