MED-O: 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-O
Largest movements
- Current investments +€102,500
up €102,500 (+121%), from €85,000 to €187,500
- Cash -€58,378
down €58,378 (-49.7%), from €117,472 to €59,094
mainly Contributions, distributions and other (-€424,813) and Current investments (-€102,500)
- Tangible fixed assets -€22,189
down €22,189 (-4.0%), from €557,864 to €535,675
of which Land and buildings: -€11,249
- Receivables within one year +€8,623
new in 2025: €8,623
- Other debts +€274,020
up €274,020 (+2,563%), from €10,690 to €284,710
- Profit (loss) carried forward -€163,156
down €163,156 (-81.7%), from €199,813 to €36,657
- Tax, wage and social debts -€42,307
down €42,307 (-98.1%), from €43,145 to €838
of which Taxes: -€42,307
- Debts after one year -€37,068
down €37,068 (-8.4%), from €443,837 to €406,769
- Gross operating margin +€161,416
up €161,416 (+70.9%), from €227,642 to €389,059
- Taxes +€39,451
up €39,451 (+93.1%), from €42,392 to €81,843
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 | €760,336 | €790,891 | +€30,556 | +4.0% |
| Fixed assets | 21/28 | €557,864 | €535,675 | -€22,189 | -4.0% |
| Tangible fixed assets | 22/27 | €557,864 | €535,675 | -€22,189 | -4.0% |
| Land and buildings | 22 | €518,085 | €506,835 | -€11,249 | -2.2% |
| Plant, machinery and equipment | 23 | €2,385 | €1,746 | -€639 | -26.8% |
| Furniture and vehicles | 24 | €37,394 | €27,094 | -€10,301 | -27.5% |
| Current assets | 29/58 | €202,472 | €255,217 | +€52,745 | +26.1% |
| Amounts receivable within one year | 40/41 | - | €8,623 | +€8,623 | |
| Other amounts receivable | 41 | - | €8,623 | +€8,623 | |
| Current investments | 50/53 | €85,000 | €187,500 | +€102,500 | +121% |
| Cash at bank and in hand | 54/58 | €117,472 | €59,094 | -€58,378 | -49.7% |
| Total equity and liabilities | 10/49 | €760,336 | €790,891 | +€30,556 | +4.0% |
| Equity | 10/15 | €224,244 | €61,088 | -€163,156 | -72.8% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €23,431 | €23,431 | = | 0.0% |
| Distributable reserves | 133 | €23,431 | €23,431 | = | 0.0% |
| Profit (loss) carried forward | 14 | €199,813 | €36,657 | -€163,156 | -81.7% |
| Amounts payable | 17/49 | €536,092 | €729,803 | +€193,712 | +36.1% |
| Amounts payable after more than one year | 17 | €443,837 | €406,769 | -€37,068 | -8.4% |
| Financial debts | 170/4 | €443,837 | €406,769 | -€37,068 | -8.4% |
| Amounts payable within one year | 42/48 | €92,254 | €323,034 | +€230,780 | +250% |
| Current portion of amounts payable after more than one year | 42 | €36,079 | €37,068 | +€989 | +2.7% |
| Trade debts | 44 | €2,340 | €418 | -€1,922 | -82.1% |
| Suppliers | 440/4 | €2,340 | €418 | -€1,922 | -82.1% |
| Taxes, remuneration and social security | 45 | €43,145 | €838 | -€42,307 | -98.1% |
| Taxes | 450/3 | €42,307 | - | -€42,307 | |
| Remuneration and social security | 454/9 | €838 | €838 | = | 0.0% |
| Other amounts payable | 47/48 | €10,690 | €284,710 | +€274,020 | +2,563% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,863 | €26,234 | +€2,371 | +9.9% |
| Other operating charges | 640/8 | €294 | €2,157 | +€1,863 | +634% |
| Gross operating margin | 9900 | €227,642 | €389,059 | +€161,416 | +70.9% |
| Operating profit (loss) | 9901 | €203,486 | €360,668 | +€157,182 | +77.2% |
| Financial income | 75/76B | €3,713 | €146 | -€3,567 | -96.1% |
| Recurring financial income | 75 | €3,713 | €146 | -€3,567 | -96.1% |
| Financial charges | 65/66B | €18,606 | €17,314 | -€1,292 | -6.9% |
| Recurring financial charges | 65 | €18,606 | €17,314 | -€1,292 | -6.9% |
| Profit (loss) for the period before taxes | 9903 | €188,592 | €343,500 | +€154,908 | +82.1% |
| Income taxes | 67/77 | €42,392 | €81,843 | +€39,451 | +93.1% |
| Profit (loss) for the period | 9904 | €146,200 | €261,657 | +€115,457 | +79.0% |
| Profit (loss) for the period to be appropriated | 9905 | €146,200 | €261,657 | +€115,457 | +79.0% |
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.