M.E.D.D.A.: 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.
M.E.D.D.A.
Largest movements
- Tangible fixed assets +€2,910
up €2,910 (+2.6%), from €114,001 to €116,911
of which Plant, machinery and equipment: +€8,727
- Cash +€2,834
up €2,834 (+222.0%), from €1,277 to €4,111
mainly Accrued charges and deferred income (+€111,993) and Other debts (+€7,464)
- Receivables within one year +€1,262
up €1,262 (+533.5%), from €237 to €1,499
- Provisions -€111,993
no longer reported in 2025 (was €111,993)
- Accrued charges and deferred income +€111,993
new in 2025: €111,993
- Other debts +€7,464
up €7,464 (+2.8%), from €271,329 to €278,793
- Trade debts -€1,800
no longer reported in 2025 (was €1,800)
- Tax, wage and social debts +€1,737
up €1,737 (+719.1%), from €242 to €1,979
- Gross operating margin +€13,641
up €13,641, from -€6,688 to €6,952
- Depreciation +€5,465
up €5,465 (+1032.1%), from €530 to €5,994
- Other operating charges -€3,982
down €3,982 (-83.9%), from €4,745 to €763
- Staff costs -€125
down €125 (-38.6%), from €323 to €198
- Financial charges +€82
up €82 (+108.1%), from €76 to €157
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 | €115,515 | €122,521 | +€7,006 | +6.1% |
| Fixed assets | 21/28 | €114,001 | €116,911 | +€2,910 | +2.6% |
| Tangible fixed assets | 22/27 | €114,001 | €116,911 | +€2,910 | +2.6% |
| Land and buildings | 22 | €34,733 | €28,915 | -€5,817 | -16.7% |
| Plant, machinery and equipment | 23 | €79,269 | €87,995 | +€8,727 | +11.0% |
| Current assets | 29/58 | €1,513 | €5,610 | +€4,097 | +270.7% |
| Amounts receivable within one year | 40/41 | €237 | €1,499 | +€1,262 | +533.5% |
| Other amounts receivable | 41 | €237 | €1,499 | +€1,262 | +533.5% |
| Cash at bank and in hand | 54/58 | €1,277 | €4,111 | +€2,834 | +222.0% |
| Total equity and liabilities | 10/49 | €115,515 | €122,521 | +€7,006 | +6.1% |
| Equity | 10/15 | -€269,849 | -€270,244 | -€395 | -0.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,620 | €2,620 | = | 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% |
| Tax-exempt reserves | 132 | €760 | €760 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€291,069 | -€291,465 | -€395 | -0.1% |
| Provisions and deferred taxes | 16 | €111,993 | - | -€111,993 | |
| Provisions for liabilities and charges | 160/5 | €111,993 | - | -€111,993 | |
| Other liabilities and charges | 164/5 | €111,993 | - | -€111,993 | |
| Amounts payable | 17/49 | €273,371 | €392,765 | +€119,394 | +43.7% |
| Amounts payable within one year | 42/48 | €273,371 | €280,772 | +€7,401 | +2.7% |
| Trade debts | 44 | €1,800 | - | -€1,800 | |
| Suppliers | 440/4 | €1,800 | - | -€1,800 | |
| Taxes, remuneration and social security | 45 | €242 | €1,979 | +€1,737 | +719.1% |
| Taxes | 450/3 | €242 | €1,979 | +€1,737 | +719.1% |
| Other amounts payable | 47/48 | €271,329 | €278,793 | +€7,464 | +2.8% |
| Accrued charges and deferred income | 492/3 | - | €111,993 | +€111,993 | |
| Remuneration, social security and pensions | 62 | €323 | €198 | -€125 | -38.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €530 | €5,994 | +€5,465 | +1032.1% |
| Other operating charges | 640/8 | €4,745 | €763 | -€3,982 | -83.9% |
| Gross operating margin | 9900 | -€6,688 | €6,952 | +€13,641 | |
| Operating profit (loss) | 9901 | -€12,286 | -€4 | +€12,282 | +100.0% |
| Financial income | 75/76B | €14 | €2 | -€12 | -83.2% |
| Recurring financial income | 75 | €14 | €2 | -€12 | -83.2% |
| Financial charges | 65/66B | €76 | €157 | +€82 | +108.1% |
| Recurring financial charges | 65 | €76 | €157 | +€82 | +108.1% |
| Profit (loss) for the period before taxes | 9903 | -€12,348 | -€159 | +€12,189 | +98.7% |
| Income taxes | 67/77 | €242 | €237 | -€5 | -2.1% |
| Profit (loss) for the period | 9904 | -€12,589 | -€395 | +€12,194 | +96.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€12,589 | -€395 | +€12,194 | +96.9% |
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 9 October 2026 via checked.be.