Mdeon: 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.
Mdeon
Largest movements
- Tangible fixed assets +€153,449
up €153,449 (+863%), from €17,782 to €171,231
of which Other tangible fixed assets: +€150,904
- Intangible fixed assets +€117,654
up €117,654 (+494%), from €23,797 to €141,451
- Cash -€36,537
down €36,537 (-3.8%), from €971,048 to €934,511
mainly Investment in fixed assets (net) (-€299,607) and Receivables within one year (-€22,013)
- Receivables within one year +€22,013
up €22,013 (+38.4%), from €57,372 to €79,385
of which Other amounts receivable: +€15,266
- Profit (loss) carried forward +€260,551
up €260,551 (+25.9%), from €1.0m to €1.3m
- Gross operating margin +€52,105
up €52,105 (+15.3%), from €340,104 to €392,209
- Financial income +€21,259
up €21,259 (+525%), from €4,053 to €25,312
- Staff costs +€19,922
up €19,922 (+45.5%), from €43,765 to €63,687
- Depreciation +€6,949
up €6,949 (+32.2%), from €21,555 to €28,504
- Taxes +€5,227
up €5,227 (+1,351%), from €387 to €5,614
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 | €1,865,857 | €2,120,739 | +€254,882 | +13.7% |
| Fixed assets | 21/28 | €42,556 | €313,659 | +€271,103 | +637% |
| Intangible fixed assets | 21 | €23,797 | €141,451 | +€117,654 | +494% |
| Tangible fixed assets | 22/27 | €17,782 | €171,231 | +€153,449 | +863% |
| Furniture and vehicles | 24 | €9,073 | €11,618 | +€2,545 | +28.0% |
| Other tangible fixed assets | 26 | €8,709 | €159,613 | +€150,904 | +1,733% |
| Financial fixed assets | 28 | €977 | €977 | = | 0.0% |
| Current assets | 29/58 | €1,823,301 | €1,807,080 | -€16,221 | -0.9% |
| Amounts receivable within one year | 40/41 | €57,372 | €79,385 | +€22,013 | +38.4% |
| Trade receivables | 40 | €9,326 | €16,073 | +€6,747 | +72.4% |
| Other amounts receivable | 41 | €48,046 | €63,312 | +€15,266 | +31.8% |
| Current investments | 50/53 | €783,000 | €783,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €971,048 | €934,511 | -€36,537 | -3.8% |
| Deferred charges and accrued income | 490/1 | €11,881 | €10,184 | -€1,697 | -14.3% |
| Total equity and liabilities | 10/49 | €1,865,857 | €2,120,739 | +€254,882 | +13.7% |
| Equity | 10/15 | €1,857,721 | €2,118,273 | +€260,551 | +14.0% |
| Reserves | 13 | €852,000 | €852,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,005,721 | €1,266,273 | +€260,551 | +25.9% |
| Amounts payable | 17/49 | €8,136 | €2,466 | -€5,669 | -69.7% |
| Amounts payable within one year | 42/48 | €8,136 | €2,197 | -€5,939 | -73.0% |
| Trade debts | 44 | €4,999 | €1,649 | -€3,350 | -67.0% |
| Suppliers | 440/4 | €4,999 | €1,649 | -€3,350 | -67.0% |
| Taxes, remuneration and social security | 45 | €3,137 | €548 | -€2,589 | -82.5% |
| Taxes | 450/3 | - | €19 | +€19 | |
| Remuneration and social security | 454/9 | €3,137 | €529 | -€2,608 | -83.1% |
| Accrued charges and deferred income | 492/3 | - | €269 | +€269 | |
| Non-recurring operating income | 76A | €3,059 | - | -€3,059 | |
| Remuneration, social security and pensions | 62 | €43,765 | €63,687 | +€19,922 | +45.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,555 | €28,504 | +€6,949 | +32.2% |
| Other operating charges | 640/8 | €7,858 | €6,904 | -€954 | -12.1% |
| Non-recurring operating charges | 66A | €1,136 | €22,090 | +€20,954 | +1,845% |
| Gross operating margin | 9900 | €340,104 | €392,209 | +€52,105 | +15.3% |
| Operating profit (loss) | 9901 | €265,791 | €271,024 | +€5,233 | +2.0% |
| Financial income | 75/76B | €4,053 | €25,312 | +€21,259 | +525% |
| Recurring financial income | 75 | €4,053 | €25,312 | +€21,259 | +525% |
| Financial charges | 65/66B | €28,341 | €30,171 | +€1,830 | +6.5% |
| Recurring financial charges | 65 | €28,341 | €30,171 | +€1,830 | +6.5% |
| Profit (loss) for the period before taxes | 9903 | €241,502 | €266,165 | +€24,663 | +10.2% |
| Income taxes | 67/77 | €387 | €5,614 | +€5,227 | +1,351% |
| Profit (loss) for the period | 9904 | €241,116 | €260,551 | +€19,436 | +8.1% |
| Profit (loss) for the period to be appropriated | 9905 | €241,116 | €260,551 | +€19,436 | +8.1% |
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 20 October 2026 via checked.be.