MEDALI: 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.
MEDALI
Largest movements
- Cash -€32,395
down €32,395 (-94.4%), from €34,304 to €1,909
mainly Receivables within one year (-€31,737) and Debts after one year (-€25,031)
- Receivables within one year +€31,737
up €31,737 (+254.4%), from €12,476 to €44,213
- Tangible fixed assets -€10,513
down €10,513 (-5.6%), from €186,918 to €176,406
of which Land and buildings: -€6,375
- Debts after one year -€25,031
down €25,031 (-38.9%), from €64,423 to €39,393
- Reserves +€11,000
up €11,000 (+22.1%), from €49,860 to €60,860
of which Distributable reserves: +€11,000
- Tax, wage and social debts -€4,520
down €4,520 (-21.6%), from €20,975 to €16,454
- Trade debts +€4,338
up €4,338 (+159.6%), from €2,718 to €7,057
- Purchases and services +€108,686
new in 2025: €108,686
- Gross operating margin -€28,466
down €28,466 (-46.4%), from €61,339 to €32,873
- Taxes -€9,794
down €9,794 (-63.9%), from €15,325 to €5,530
- Depreciation -€2,677
down €2,677 (-20.3%), from €13,189 to €10,513
- Other operating charges -€1,569
down €1,569 (-40.6%), from €3,870 to €2,301
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 | €237,272 | €224,227 | -€13,044 | -5.5% |
| Fixed assets | 21/28 | €188,618 | €178,106 | -€10,513 | -5.6% |
| Tangible fixed assets | 22/27 | €186,918 | €176,406 | -€10,513 | -5.6% |
| Land and buildings | 22 | €173,500 | €167,125 | -€6,375 | -3.7% |
| Plant, machinery and equipment | 23 | €8,677 | €7,478 | -€1,199 | -13.8% |
| Furniture and vehicles | 24 | €4,741 | €1,803 | -€2,938 | -62.0% |
| Financial fixed assets | 28 | €1,700 | €1,700 | = | 0.0% |
| Current assets | 29/58 | €48,653 | €46,122 | -€2,532 | -5.2% |
| Amounts receivable within one year | 40/41 | €12,476 | €44,213 | +€31,737 | +254.4% |
| Other amounts receivable | 41 | €12,476 | €44,213 | +€31,737 | +254.4% |
| Cash at bank and in hand | 54/58 | €34,304 | €1,909 | -€32,395 | -94.4% |
| Deferred charges and accrued income | 490/1 | €1,874 | - | -€1,874 | |
| Total equity and liabilities | 10/49 | €237,272 | €224,227 | -€13,044 | -5.5% |
| Equity | 10/15 | €124,961 | €136,293 | +€11,332 | +9.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €49,860 | €60,860 | +€11,000 | +22.1% |
| 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 | €48,000 | €59,000 | +€11,000 | +22.9% |
| Profit (loss) carried forward | 14 | €62,701 | €63,033 | +€332 | +0.5% |
| Amounts payable | 17/49 | €112,311 | €87,934 | -€24,377 | -21.7% |
| Amounts payable after more than one year | 17 | €64,423 | €39,393 | -€25,031 | -38.9% |
| Financial debts | 170/4 | €64,423 | €39,393 | -€25,031 | -38.9% |
| Amounts payable within one year | 42/48 | €47,888 | €48,542 | +€654 | +1.4% |
| Current portion of amounts payable after more than one year | 42 | €24,195 | €25,031 | +€836 | +3.5% |
| Trade debts | 44 | €2,718 | €7,057 | +€4,338 | +159.6% |
| Suppliers | 440/4 | €2,718 | €7,057 | +€4,338 | +159.6% |
| Taxes, remuneration and social security | 45 | €20,975 | €16,454 | -€4,520 | -21.6% |
| Taxes | 450/3 | €20,975 | €16,454 | -€4,520 | -21.6% |
| Goods, raw materials, services and sundry goods | 60/61 | - | €108,686 | +€108,686 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,189 | €10,513 | -€2,677 | -20.3% |
| Other operating charges | 640/8 | €3,870 | €2,301 | -€1,569 | -40.6% |
| Non-recurring operating charges | 66A | €153 | €63 | -€90 | -58.8% |
| Gross operating margin | 9900 | €61,339 | €32,873 | -€28,466 | -46.4% |
| Operating profit (loss) | 9901 | €44,127 | €19,997 | -€24,130 | -54.7% |
| Financial charges | 65/66B | €3,918 | €3,134 | -€783 | -20.0% |
| Recurring financial charges | 65 | €3,918 | €3,134 | -€783 | -20.0% |
| Profit (loss) for the period before taxes | 9903 | €40,209 | €16,863 | -€23,347 | -58.1% |
| Income taxes | 67/77 | €15,325 | €5,530 | -€9,794 | -63.9% |
| Profit (loss) for the period | 9904 | €24,885 | €11,332 | -€13,552 | -54.5% |
| Profit (loss) for the period to be appropriated | 9905 | €24,885 | €11,332 | -€13,552 | -54.5% |
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 11 October 2026 via checked.be.