AS MED: 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.
AS MED
Largest movements
- Cash +€20,765
up €20,765 (+40.5%), from €51,310 to €72,075
mainly Net result for the year (+€34,775) and Receivables within one year (+€2,595)
- Deferred charges and accrued income +€7,470
up €7,470 (+777.2%), from €961 to €8,432
- Receivables within one year -€2,595
down €2,595 (-54.3%), from €4,774 to €2,180
of which Trade receivables: -€1,749
- Reserves +€34,775
up €34,775 (+80.1%), from €43,395 to €78,170
- Other debts -€8,657
down €8,657 (-71.5%), from €12,107 to €3,450
- Tax, wage and social debts -€1,680
down €1,680 (-32.6%), from €5,157 to €3,477
- Gross operating margin -€11,133
down €11,133 (-17.3%), from €64,448 to €53,315
- Taxes -€3,097
down €3,097 (-18.0%), from €17,157 to €14,061
- Financial charges +€2,197
up €2,197 (+2890.4%), from €76 to €2,273
- Depreciation -€1,607
down €1,607 (-44.6%), from €3,605 to €1,999
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 | €64,022 | €88,843 | +€24,821 | +38.8% |
| Fixed assets | 21/28 | €6,976 | €6,157 | -€820 | -11.7% |
| Tangible fixed assets | 22/27 | €6,976 | €6,157 | -€820 | -11.7% |
| Furniture and vehicles | 24 | €832 | €1,326 | +€493 | +59.3% |
| Other tangible fixed assets | 26 | €6,144 | €4,831 | -€1,313 | -21.4% |
| Current assets | 29/58 | €57,045 | €82,686 | +€25,641 | +44.9% |
| Amounts receivable within one year | 40/41 | €4,774 | €2,180 | -€2,595 | -54.3% |
| Trade receivables | 40 | €2,012 | €263 | -€1,749 | -86.9% |
| Other amounts receivable | 41 | €2,763 | €1,917 | -€846 | -30.6% |
| Cash at bank and in hand | 54/58 | €51,310 | €72,075 | +€20,765 | +40.5% |
| Deferred charges and accrued income | 490/1 | €961 | €8,432 | +€7,470 | +777.2% |
| Total equity and liabilities | 10/49 | €64,022 | €88,843 | +€24,821 | +38.8% |
| Equity | 10/15 | €46,395 | €81,170 | +€34,775 | +75.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €43,395 | €78,170 | +€34,775 | +80.1% |
| Distributable reserves | 133 | €43,395 | €78,170 | +€34,775 | +80.1% |
| Amounts payable | 17/49 | €17,627 | €7,673 | -€9,954 | -56.5% |
| Amounts payable within one year | 42/48 | €17,627 | €7,266 | -€10,361 | -58.8% |
| Trade debts | 44 | €363 | €339 | -€24 | -6.6% |
| Suppliers | 440/4 | €363 | €339 | -€24 | -6.6% |
| Taxes, remuneration and social security | 45 | €5,157 | €3,477 | -€1,680 | -32.6% |
| Taxes | 450/3 | €5,157 | €3,477 | -€1,680 | -32.6% |
| Other amounts payable | 47/48 | €12,107 | €3,450 | -€8,657 | -71.5% |
| Accrued charges and deferred income | 492/3 | - | €407 | +€407 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,605 | €1,999 | -€1,607 | -44.6% |
| Other operating charges | 640/8 | €227 | €212 | -€15 | -6.6% |
| Gross operating margin | 9900 | €64,448 | €53,315 | -€11,133 | -17.3% |
| Operating profit (loss) | 9901 | €60,615 | €51,104 | -€9,511 | -15.7% |
| Financial income | 75/76B | €13 | €5 | -€9 | -65.1% |
| Recurring financial income | 75 | €13 | €5 | -€9 | -65.1% |
| Financial charges | 65/66B | €76 | €2,273 | +€2,197 | +2890.4% |
| Recurring financial charges | 65 | €76 | €2,273 | +€2,197 | +2890.4% |
| Profit (loss) for the period before taxes | 9903 | €60,552 | €48,836 | -€11,717 | -19.3% |
| Income taxes | 67/77 | €17,157 | €14,061 | -€3,097 | -18.0% |
| Profit (loss) for the period | 9904 | €43,395 | €34,775 | -€8,620 | -19.9% |
| Profit (loss) for the period to be appropriated | 9905 | €43,395 | €34,775 | -€8,620 | -19.9% |
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 10 October 2026 via checked.be.