MAD SOUNDS: 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.
MAD SOUNDS
Largest movements
- Tangible fixed assets +€15,486
up €15,486 (+260.3%), from €5,950 to €21,436
- Receivables within one year +€9,054
up €9,054 (+43.7%), from €20,700 to €29,753
- Cash -€749
down €749 (-94.8%), from €791 to €41
mainly Investment in fixed assets (net) (-€19,397) and Receivables within one year (-€9,054)
- Other debts +€11,615
up €11,615 (+81.5%), from €14,256 to €25,871
- Trade debts +€6,666
up €6,666 (+2319.7%), from €287 to €6,954
- Reserves +€4,238
up €4,238 (+47.2%), from €8,988 to €13,225
- Tax, wage and social debts +€1,271
up €1,271 (+43.7%), from €2,909 to €4,181
- Gross operating margin +€6,570
up €6,570 (+190.3%), from €3,452 to €10,022
- Depreciation +€3,404
up €3,404 (+671.6%), from €507 to €3,911
- Taxes +€662
up €662 (+107.2%), from €617 to €1,279
- Other operating charges -€396
down €396 (-46.2%), from €858 to €462
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 | €27,441 | €51,231 | +€23,790 | +86.7% |
| Fixed assets | 21/28 | €5,950 | €21,436 | +€15,486 | +260.3% |
| Tangible fixed assets | 22/27 | €5,950 | €21,436 | +€15,486 | +260.3% |
| Land and buildings | 22 | €1,573 | €7,484 | +€5,911 | +375.8% |
| Plant, machinery and equipment | 23 | €4,377 | €8,564 | +€4,187 | +95.6% |
| Furniture and vehicles | 24 | - | €5,389 | +€5,389 | |
| Current assets | 29/58 | €21,490 | €29,795 | +€8,304 | +38.6% |
| Amounts receivable within one year | 40/41 | €20,700 | €29,753 | +€9,054 | +43.7% |
| Trade receivables | 40 | €20,700 | €29,753 | +€9,054 | +43.7% |
| Cash at bank and in hand | 54/58 | €791 | €41 | -€749 | -94.8% |
| Total equity and liabilities | 10/49 | €27,441 | €51,231 | +€23,790 | +86.7% |
| Equity | 10/15 | €9,988 | €14,225 | +€4,238 | +42.4% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €8,988 | €13,225 | +€4,238 | +47.2% |
| Distributable reserves | 133 | €8,988 | €13,225 | +€4,238 | +47.2% |
| Amounts payable | 17/49 | €17,453 | €37,006 | +€19,553 | +112.0% |
| Amounts payable within one year | 42/48 | €17,453 | €37,006 | +€19,553 | +112.0% |
| Trade debts | 44 | €287 | €6,954 | +€6,666 | +2319.7% |
| Suppliers | 440/4 | €287 | €6,954 | +€6,666 | +2319.7% |
| Taxes, remuneration and social security | 45 | €2,909 | €4,181 | +€1,271 | +43.7% |
| Taxes | 450/3 | €2,909 | €4,181 | +€1,271 | +43.7% |
| Other amounts payable | 47/48 | €14,256 | €25,871 | +€11,615 | +81.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €507 | €3,911 | +€3,404 | +671.6% |
| Other operating charges | 640/8 | €858 | €462 | -€396 | -46.2% |
| Gross operating margin | 9900 | €3,452 | €10,022 | +€6,570 | +190.3% |
| Operating profit (loss) | 9901 | €2,088 | €5,649 | +€3,562 | +170.6% |
| Financial charges | 65/66B | €35 | €133 | +€97 | +273.8% |
| Recurring financial charges | 65 | €35 | €133 | +€97 | +273.8% |
| Profit (loss) for the period before taxes | 9903 | €2,052 | €5,517 | +€3,465 | +168.8% |
| Income taxes | 67/77 | €617 | €1,279 | +€662 | +107.2% |
| Profit (loss) for the period | 9904 | €1,435 | €4,238 | +€2,803 | +195.3% |
| Profit (loss) for the period to be appropriated | 9905 | €1,435 | €4,238 | +€2,803 | +195.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.