FS-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.
FS-MED
Largest movements
- Cash +€35,304
up €35,304 (+49.5%), from €71,298 to €106,601
mainly Net result for the year (+€24,340) and Depreciation (+€21,872)
- Intangible fixed assets -€11,500
down €11,500 (-31.6%), from €36,417 to €24,917
- Tangible fixed assets -€10,372
down €10,372 (-25.1%), from €41,336 to €30,964
of which Furniture and vehicles: -€8,364
- Receivables within one year +€4,631
up €4,631 (+65.3%), from €7,093 to €11,724
- Other debts +€17,280
up €17,280 (+22.2%), from €77,851 to €95,131
- Gross operating margin +€2,628
up €2,628 (+5.0%), from €52,074 to €54,702
- Depreciation +€1,088
up €1,088 (+5.2%), from €20,784 to €21,872
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 | €171,458 | €189,368 | +€17,910 | +10.4% |
| Fixed assets | 21/28 | €77,752 | €55,880 | -€21,872 | -28.1% |
| Intangible fixed assets | 21 | €36,417 | €24,917 | -€11,500 | -31.6% |
| Tangible fixed assets | 22/27 | €41,336 | €30,964 | -€10,372 | -25.1% |
| Plant, machinery and equipment | 23 | €8,179 | €6,171 | -€2,008 | -24.5% |
| Furniture and vehicles | 24 | €33,157 | €24,793 | -€8,364 | -25.2% |
| Current assets | 29/58 | €93,706 | €133,487 | +€39,782 | +42.5% |
| Amounts receivable within one year | 40/41 | €7,093 | €11,724 | +€4,631 | +65.3% |
| Other amounts receivable | 41 | €7,093 | €11,724 | +€4,631 | +65.3% |
| Cash at bank and in hand | 54/58 | €71,298 | €106,601 | +€35,304 | +49.5% |
| Deferred charges and accrued income | 490/1 | €15,315 | €15,162 | -€153 | -1.0% |
| Total equity and liabilities | 10/49 | €171,458 | €189,368 | +€17,910 | +10.4% |
| Equity | 10/15 | €93,607 | €93,607 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €75,007 | €75,007 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €73,147 | €73,147 | = | 0.0% |
| Amounts payable | 17/49 | €77,851 | €95,761 | +€17,910 | +23.0% |
| Amounts payable within one year | 42/48 | €77,851 | €95,761 | +€17,910 | +23.0% |
| Trade debts | 44 | - | €630 | +€630 | |
| Suppliers | 440/4 | - | €630 | +€630 | |
| Other amounts payable | 47/48 | €77,851 | €95,131 | +€17,280 | +22.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,784 | €21,872 | +€1,088 | +5.2% |
| Other operating charges | 640/8 | €184 | €151 | -€33 | -18.0% |
| Gross operating margin | 9900 | €52,074 | €54,702 | +€2,628 | +5.0% |
| Operating profit (loss) | 9901 | €31,105 | €32,679 | +€1,573 | +5.1% |
| Financial charges | 65/66B | €127 | €63 | -€64 | -50.2% |
| Recurring financial charges | 65 | €127 | €63 | -€64 | -50.2% |
| Profit (loss) for the period before taxes | 9903 | €30,979 | €32,616 | +€1,637 | +5.3% |
| Income taxes | 67/77 | €7,907 | €8,276 | +€369 | +4.7% |
| Profit (loss) for the period | 9904 | €23,072 | €24,340 | +€1,268 | +5.5% |
| Profit (loss) for the period to be appropriated | 9905 | €23,072 | €24,340 | +€1,268 | +5.5% |
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 16 October 2026 via checked.be.