MEDALLUX: 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.
MEDALLUX
Largest movements
- Cash +€58,411
up €58,411 (+34.5%), from €169,341 to €227,752
mainly Net result for the year (+€78,020) and Depreciation (+€37,980)
- Tangible fixed assets +€28,783
up €28,783 (+23.0%), from €125,406 to €154,189
of which Furniture and vehicles: +€28,199
- Receivables within one year -€7,093
down €7,093 (-11.0%), from €64,424 to €57,331
of which Trade receivables: -€7,814
- Reserves +€78,020
up €78,020 (+319%), from €24,489 to €102,509
of which Distributable reserves: +€78,020
- Trade debts +€9,449
up €9,449 (+22.4%), from €42,100 to €51,549
- Other debts -€5,662
down €5,662 (-12.9%), from €44,050 to €38,389
- Gross operating margin +€100,635
up €100,635 (+101%), from €99,611 to €200,247
- Taxes +€33,600
up €33,600 (+295%), from €11,408 to €45,008
- Depreciation +€10,570
up €10,570 (+38.6%), from €27,410 to €37,980
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 | €371,721 | €454,301 | +€82,580 | +22.2% |
| Fixed assets | 21/28 | €125,406 | €154,189 | +€28,783 | +23.0% |
| Tangible fixed assets | 22/27 | €125,406 | €154,189 | +€28,783 | +23.0% |
| Land and buildings | 22 | €41,646 | €41,371 | -€275 | -0.7% |
| Plant, machinery and equipment | 23 | €18,199 | €19,058 | +€859 | +4.7% |
| Furniture and vehicles | 24 | €65,561 | €93,760 | +€28,199 | +43.0% |
| Current assets | 29/58 | €246,315 | €300,112 | +€53,797 | +21.8% |
| Stocks and contracts in progress | 3 | €7,250 | €5,250 | -€2,000 | -27.6% |
| Stocks | 30/36 | €7,250 | €5,250 | -€2,000 | -27.6% |
| Amounts receivable within one year | 40/41 | €64,424 | €57,331 | -€7,093 | -11.0% |
| Trade receivables | 40 | €64,351 | €56,537 | -€7,814 | -12.1% |
| Other amounts receivable | 41 | €73 | €793 | +€721 | +993% |
| Cash at bank and in hand | 54/58 | €169,341 | €227,752 | +€58,411 | +34.5% |
| Deferred charges and accrued income | 490/1 | €5,301 | €9,779 | +€4,478 | +84.5% |
| Total equity and liabilities | 10/49 | €371,721 | €454,301 | +€82,580 | +22.2% |
| Equity | 10/15 | €269,661 | €347,681 | +€78,020 | +28.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €24,489 | €102,509 | +€78,020 | +319% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €18,289 | €96,309 | +€78,020 | +427% |
| Profit (loss) carried forward | 14 | €183,172 | €183,172 | = | 0.0% |
| Amounts payable | 17/49 | €102,060 | €106,620 | +€4,560 | +4.5% |
| Amounts payable within one year | 42/48 | €99,671 | €103,670 | +€3,999 | +4.0% |
| Trade debts | 44 | €42,100 | €51,549 | +€9,449 | +22.4% |
| Suppliers | 440/4 | €42,100 | €51,549 | +€9,449 | +22.4% |
| Taxes, remuneration and social security | 45 | €13,520 | €13,732 | +€211 | +1.6% |
| Taxes | 450/3 | €9,693 | €9,950 | +€257 | +2.6% |
| Remuneration and social security | 454/9 | €3,827 | €3,782 | -€45 | -1.2% |
| Other amounts payable | 47/48 | €44,050 | €38,389 | -€5,662 | -12.9% |
| Accrued charges and deferred income | 492/3 | €2,390 | €2,951 | +€561 | +23.5% |
| Remuneration, social security and pensions | 62 | €31,959 | €30,057 | -€1,903 | -6.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,410 | €37,980 | +€10,570 | +38.6% |
| Other operating charges | 640/8 | €4,852 | €4,949 | +€97 | +2.0% |
| Non-recurring operating charges | 66A | €106 | €159 | +€53 | +50.0% |
| Gross operating margin | 9900 | €99,611 | €200,247 | +€100,635 | +101% |
| Operating profit (loss) | 9901 | €35,284 | €127,102 | +€91,819 | +260% |
| Financial income | 75/76B | €847 | €2,344 | +€1,497 | +177% |
| Recurring financial income | 75 | €847 | €2,344 | +€1,497 | +177% |
| Financial charges | 65/66B | €6,433 | €6,417 | -€16 | -0.2% |
| Recurring financial charges | 65 | €6,433 | €6,417 | -€16 | -0.2% |
| Profit (loss) for the period before taxes | 9903 | €29,697 | €123,028 | +€93,331 | +314% |
| Income taxes | 67/77 | €11,408 | €45,008 | +€33,600 | +295% |
| Profit (loss) for the period | 9904 | €18,289 | €78,020 | +€59,731 | +327% |
| Profit (loss) for the period to be appropriated | 9905 | €18,289 | €78,020 | +€59,731 | +327% |
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.