MED BORAN: 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.
MED BORAN
Largest movements
- Stocks and contracts +€10,252
up €10,252 (+37.6%), from €27,266 to €37,519
- Tangible fixed assets -€4,164
down €4,164 (-25.3%), from €16,470 to €12,306
- Receivables within one year +€1,253
up €1,253 (+97.2%), from €1,289 to €2,543
- Cash +€879
up €879 (+29.6%), from €2,968 to €3,847
mainly Net result for the year (+€12,633) and Trade debts (+€5,056)
- Profit (loss) carried forward +€12,633
up €12,633 (+40.4%), from €31,273 to €43,906
- Tax, wage and social debts -€9,122
down €9,122 (-83.1%), from €10,976 to €1,854
of which Remuneration and social security: -€9,196
- Trade debts +€5,056
up €5,056 (+370%), from €1,368 to €6,425
- Other debts -€621
no longer reported in 2025 (was €621)
- Gross operating margin +€19,192
up €19,192 (+143%), from €13,395 to €32,588
- Staff costs -€1,263
down €1,263 (-8.2%), from €15,447 to €14,184
- Depreciation +€833
up €833 (+25.0%), from €3,331 to €4,164
- Financial charges -€334
down €334 (-70.4%), from €474 to €140
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 | €51,464 | €59,410 | +€7,946 | +15.4% |
| Fixed assets | 21/28 | €16,645 | €12,481 | -€4,164 | -25.0% |
| Tangible fixed assets | 22/27 | €16,470 | €12,306 | -€4,164 | -25.3% |
| Furniture and vehicles | 24 | €16,470 | €12,306 | -€4,164 | -25.3% |
| Financial fixed assets | 28 | €175 | €175 | = | 0.0% |
| Current assets | 29/58 | €34,819 | €46,929 | +€12,110 | +34.8% |
| Stocks and contracts in progress | 3 | €27,266 | €37,519 | +€10,252 | +37.6% |
| Stocks | 30/36 | €27,266 | €37,519 | +€10,252 | +37.6% |
| Amounts receivable within one year | 40/41 | €1,289 | €2,543 | +€1,253 | +97.2% |
| Other amounts receivable | 41 | €1,289 | €2,543 | +€1,253 | +97.2% |
| Cash at bank and in hand | 54/58 | €2,968 | €3,847 | +€879 | +29.6% |
| Deferred charges and accrued income | 490/1 | €3,295 | €3,021 | -€275 | -8.3% |
| Total equity and liabilities | 10/49 | €51,464 | €59,410 | +€7,946 | +15.4% |
| Equity | 10/15 | €38,499 | €51,132 | +€12,633 | +32.8% |
| Contributions | 10/11 | €7,200 | €7,200 | = | 0.0% |
| Reserves | 13 | €26 | €26 | = | 0.0% |
| Non-distributable reserves | 130/1 | €26 | €26 | = | 0.0% |
| Reserves not available under the articles | 1311 | €26 | €26 | = | 0.0% |
| Profit (loss) carried forward | 14 | €31,273 | €43,906 | +€12,633 | +40.4% |
| Amounts payable | 17/49 | €12,965 | €8,279 | -€4,687 | -36.1% |
| Amounts payable within one year | 42/48 | €12,965 | €8,279 | -€4,687 | -36.1% |
| Trade debts | 44 | €1,368 | €6,425 | +€5,056 | +370% |
| Suppliers | 440/4 | €1,368 | €6,425 | +€5,056 | +370% |
| Taxes, remuneration and social security | 45 | €10,976 | €1,854 | -€9,122 | -83.1% |
| Taxes | 450/3 | - | €74 | +€74 | |
| Remuneration and social security | 454/9 | €10,976 | €1,780 | -€9,196 | -83.8% |
| Other amounts payable | 47/48 | €621 | - | -€621 | |
| Remuneration, social security and pensions | 62 | €15,447 | €14,184 | -€1,263 | -8.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,331 | €4,164 | +€833 | +25.0% |
| Other operating charges | 640/8 | €1,618 | €1,468 | -€151 | -9.3% |
| Gross operating margin | 9900 | €13,395 | €32,588 | +€19,192 | +143% |
| Operating profit (loss) | 9901 | -€7,001 | €12,772 | +€19,773 | |
| Financial income | 75/76B | €2 | €1 | -€1 | -58.7% |
| Recurring financial income | 75 | €2 | €1 | -€1 | -58.7% |
| Financial charges | 65/66B | €474 | €140 | -€334 | -70.4% |
| Recurring financial charges | 65 | €474 | €140 | -€334 | -70.4% |
| Profit (loss) for the period before taxes | 9903 | -€7,473 | €12,633 | +€20,105 | |
| Profit (loss) for the period | 9904 | -€7,473 | €12,633 | +€20,105 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,473 | €12,633 | +€20,105 |
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 25 October 2026 via checked.be.