MEDAM: what changed
Two fiscal 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.
MEDAM
Largest movements
- Current investments +€154,958
up €154,958 (+72.2%), from €214,646 to €369,604
- Deferred charges and accrued income +€21,216
up €21,216 (+1574.4%), from €1,348 to €22,563
- Tangible fixed assets -€7,190
down €7,190 (-20.2%), from €35,557 to €28,367
- Profit (loss) carried forward +€130,412
up €130,412 (+62.7%), from €208,041 to €338,454
- Tax, wage and social debts +€37,953
up €37,953 (+97.8%), from €38,813 to €76,765
- Gross operating margin +€23,854
up €23,854 (+15.7%), from €151,946 to €175,800
- Depreciation +€6,797
up €6,797 (+1730.0%), from €393 to €7,190
- Taxes +€5,487
up €5,487 (+16.3%), from €33,578 to €39,065
- Financial income +€3,071
up €3,071 (+657.2%), from €467 to €3,538
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €252,500 | €421,484 | +€168,984 | +66.9% |
| Fixed assets | 21/28 | €36,507 | €29,317 | -€7,190 | -19.7% |
| Tangible fixed assets | 22/27 | €35,557 | €28,367 | -€7,190 | -20.2% |
| Furniture and vehicles | 24 | €35,557 | €28,367 | -€7,190 | -20.2% |
| Financial fixed assets | 28 | €950 | €950 | = | 0.0% |
| Current assets | 29/58 | €215,993 | €392,167 | +€176,174 | +81.6% |
| Current investments | 50/53 | €214,646 | €369,604 | +€154,958 | +72.2% |
| Deferred charges and accrued income | 490/1 | €1,348 | €22,563 | +€21,216 | +1574.4% |
| Total equity and liabilities | 10/49 | €252,500 | €421,484 | +€168,984 | +66.9% |
| Equity | 10/15 | €210,541 | €340,954 | +€130,412 | +61.9% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €208,041 | €338,454 | +€130,412 | +62.7% |
| Amounts payable | 17/49 | €41,959 | €80,530 | +€38,571 | +91.9% |
| Amounts payable within one year | 42/48 | €38,813 | €78,198 | +€39,385 | +101.5% |
| Trade debts | 44 | - | €1,433 | +€1,433 | |
| Suppliers | 440/4 | - | €1,433 | +€1,433 | |
| Taxes, remuneration and social security | 45 | €38,813 | €76,765 | +€37,953 | +97.8% |
| Taxes | 450/3 | €38,813 | €76,765 | +€37,953 | +97.8% |
| Accrued charges and deferred income | 492/3 | €3,146 | €2,332 | -€814 | -25.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €393 | €7,190 | +€6,797 | +1730.0% |
| Other operating charges | 640/8 | €755 | €1,879 | +€1,123 | +148.8% |
| Gross operating margin | 9900 | €151,946 | €175,800 | +€23,854 | +15.7% |
| Operating profit (loss) | 9901 | €150,798 | €166,731 | +€15,933 | +10.6% |
| Financial income | 75/76B | €467 | €3,538 | +€3,071 | +657.2% |
| Recurring financial income | 75 | €467 | €3,538 | +€3,071 | +657.2% |
| Financial charges | 65/66B | €751 | €792 | +€41 | +5.4% |
| Recurring financial charges | 65 | €751 | €792 | +€41 | +5.4% |
| Profit (loss) for the period before taxes | 9903 | €150,514 | €169,478 | +€18,963 | +12.6% |
| Income taxes | 67/77 | €33,578 | €39,065 | +€5,487 | +16.3% |
| Profit (loss) for the period | 9904 | €116,936 | €130,412 | +€13,476 | +11.5% |
| Profit (loss) for the period to be appropriated | 9905 | €116,936 | €130,412 | +€13,476 | +11.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.