MEDANESTH: 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.
MEDANESTH
Largest movements
- Receivables within one year +€46,439
up €46,439 (+86.3%), from €53,782 to €100,221
of which Other amounts receivable: +€51,686
- Cash -€45,492
down €45,492 (-38.5%), from €118,252 to €72,760
mainly Tax, wage and social debts (-€50,771) and Receivables within one year (-€46,439)
- Tangible fixed assets -€22,782
down €22,782 (-19.4%), from €117,485 to €94,703
of which Furniture and vehicles: -€22,203
- Deferred charges and accrued income -€10,941
down €10,941 (-9.4%), from €116,587 to €105,646
- Tax, wage and social debts -€50,771
no longer reported in 2025 (was €50,771)
- Reserves +€50,741
up €50,741 (+28.3%), from €179,047 to €229,788
- Debts after one year -€27,171
down €27,171 (-22.7%), from €119,486 to €92,315
- Current portion of long-term debt -€7,913
down €7,913 (-17.8%), from €44,402 to €36,489
- Gross operating margin -€40,073
down €40,073 (-19.9%), from €201,594 to €161,521
- Financial charges +€36,046
up €36,046 (+148%), from €24,400 to €60,446
- Taxes -€22,172
down €22,172 (-50.8%), from €43,686 to €21,514
- Depreciation +€3,813
up €3,813 (+15.1%), from €25,213 to €29,026
- Other operating charges -€2,810
down €2,810 (-60.9%), from €4,617 to €1,807
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 | €406,106 | €373,331 | -€32,775 | -8.1% |
| Fixed assets | 21/28 | €117,485 | €94,703 | -€22,782 | -19.4% |
| Tangible fixed assets | 22/27 | €117,485 | €94,703 | -€22,782 | -19.4% |
| Plant, machinery and equipment | 23 | €4,482 | €3,903 | -€579 | -12.9% |
| Furniture and vehicles | 24 | €113,003 | €90,800 | -€22,203 | -19.6% |
| Current assets | 29/58 | €288,621 | €278,627 | -€9,994 | -3.5% |
| Amounts receivable within one year | 40/41 | €53,782 | €100,221 | +€46,439 | +86.3% |
| Trade receivables | 40 | €5,247 | - | -€5,247 | |
| Other amounts receivable | 41 | €48,535 | €100,221 | +€51,686 | +106% |
| Cash at bank and in hand | 54/58 | €118,252 | €72,760 | -€45,492 | -38.5% |
| Deferred charges and accrued income | 490/1 | €116,587 | €105,646 | -€10,941 | -9.4% |
| Total equity and liabilities | 10/49 | €406,106 | €373,331 | -€32,775 | -8.1% |
| Equity | 10/15 | €191,447 | €242,188 | +€50,741 | +26.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €179,047 | €229,788 | +€50,741 | +28.3% |
| Distributable reserves | 133 | €179,047 | €229,788 | +€50,741 | +28.3% |
| Amounts payable | 17/49 | €214,659 | €131,143 | -€83,516 | -38.9% |
| Amounts payable after more than one year | 17 | €119,486 | €92,315 | -€27,171 | -22.7% |
| Financial debts | 170/4 | €119,486 | €92,315 | -€27,171 | -22.7% |
| Amounts payable within one year | 42/48 | €95,173 | €38,828 | -€56,345 | -59.2% |
| Current portion of amounts payable after more than one year | 42 | €44,402 | €36,489 | -€7,913 | -17.8% |
| Trade debts | 44 | - | €2,339 | +€2,339 | |
| Suppliers | 440/4 | - | €2,339 | +€2,339 | |
| Taxes, remuneration and social security | 45 | €50,771 | - | -€50,771 | |
| Taxes | 450/3 | €50,771 | - | -€50,771 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,213 | €29,026 | +€3,813 | +15.1% |
| Other operating charges | 640/8 | €4,617 | €1,807 | -€2,810 | -60.9% |
| Gross operating margin | 9900 | €201,594 | €161,521 | -€40,073 | -19.9% |
| Operating profit (loss) | 9901 | €171,764 | €130,688 | -€41,076 | -23.9% |
| Financial income | 75/76B | €1,127 | €2,012 | +€885 | +78.5% |
| Recurring financial income | 75 | €1,127 | €2,012 | +€885 | +78.5% |
| Financial charges | 65/66B | €24,400 | €60,446 | +€36,046 | +148% |
| Recurring financial charges | 65 | €24,400 | €60,446 | +€36,046 | +148% |
| Profit (loss) for the period before taxes | 9903 | €148,491 | €72,254 | -€76,237 | -51.3% |
| Income taxes | 67/77 | €43,686 | €21,514 | -€22,172 | -50.8% |
| Profit (loss) for the period | 9904 | €104,805 | €50,741 | -€54,064 | -51.6% |
| Profit (loss) for the period to be appropriated | 9905 | €104,805 | €50,741 | -€54,064 | -51.6% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.