MEDEA: 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.
MEDEA
Largest movements
- Stocks and contracts -€55,260
down €55,260 (-9.7%), from €571,310 to €516,050
- Cash -€8,483
down €8,483 (-93.2%), from €9,100 to €617
mainly Trade debts (-€62,628) and Contributions, distributions and other (-€43,094)
- Trade debts -€62,628
down €62,628 (-54.4%), from €115,166 to €52,538
- Other debts +€35,693
up €35,693 (+80.9%), from €44,099 to €79,793
- Short-term financial debts -€25,558
down €25,558 (-51.3%), from €49,854 to €24,296
- Reserves -€15,649
down €15,649 (-4.5%), from €349,999 to €334,350
of which Distributable reserves: -€15,649
- Tax, wage and social debts +€6,689
up €6,689 (+152.5%), from €4,388 to €11,077
of which Taxes: +€6,113
- Gross operating margin -€21,222
down €21,222 (-20.0%), from €106,154 to €84,933
- Staff costs -€9,262
down €9,262 (-27.4%), from €33,752 to €24,490
- Depreciation -€7,074
down €7,074 (-77.0%), from €9,183 to €2,109
- Write-downs -€5,128
down €5,128 (-43.4%), from €11,816 to €6,688
- Financial charges -€2,548
down €2,548 (-20.6%), from €12,380 to €9,832
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 | €590,062 | €527,513 | -€62,550 | -10.6% |
| Fixed assets | 21/28 | €4,573 | €4,820 | +€247 | +5.4% |
| Tangible fixed assets | 22/27 | €4,573 | €4,820 | +€247 | +5.4% |
| Plant, machinery and equipment | 23 | €4,365 | €2,790 | -€1,575 | -36.1% |
| Furniture and vehicles | 24 | €207 | €2,029 | +€1,822 | +879.4% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Current assets | 29/58 | €585,490 | €522,693 | -€62,797 | -10.7% |
| Stocks and contracts in progress | 3 | €571,310 | €516,050 | -€55,260 | -9.7% |
| Stocks | 30/36 | €571,310 | €516,050 | -€55,260 | -9.7% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €9,100 | €617 | -€8,483 | -93.2% |
| Deferred charges and accrued income | 490/1 | €5,080 | €6,026 | +€946 | +18.6% |
| Total equity and liabilities | 10/49 | €590,062 | €527,513 | -€62,550 | -10.6% |
| Equity | 10/15 | €374,999 | €359,350 | -€15,649 | -4.2% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €349,999 | €334,350 | -€15,649 | -4.5% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €274 | €274 | = | 0.0% |
| Distributable reserves | 133 | €349,725 | €334,075 | -€15,649 | -4.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €215,064 | €168,163 | -€46,900 | -21.8% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €214,732 | €167,703 | -€47,029 | -21.9% |
| Current portion of amounts payable after more than one year | 42 | €1,226 | €0 | -€1,226 | -100.0% |
| Financial debts | 43 | €49,854 | €24,296 | -€25,558 | -51.3% |
| Credit institutions | 430/8 | €49,854 | €24,296 | -€25,558 | -51.3% |
| Trade debts | 44 | €115,166 | €52,538 | -€62,628 | -54.4% |
| Suppliers | 440/4 | €115,166 | €52,538 | -€62,628 | -54.4% |
| Taxes, remuneration and social security | 45 | €4,388 | €11,077 | +€6,689 | +152.5% |
| Taxes | 450/3 | €3,530 | €9,643 | +€6,113 | +173.1% |
| Remuneration and social security | 454/9 | €857 | €1,433 | +€576 | +67.2% |
| Other amounts payable | 47/48 | €44,099 | €79,793 | +€35,693 | +80.9% |
| Accrued charges and deferred income | 492/3 | €331 | €460 | +€129 | +38.8% |
| Remuneration, social security and pensions | 62 | €33,752 | €24,490 | -€9,262 | -27.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,183 | €2,109 | -€7,074 | -77.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €11,816 | €6,688 | -€5,128 | -43.4% |
| Other operating charges | 640/8 | €1,873 | €879 | -€994 | -53.1% |
| Gross operating margin | 9900 | €106,154 | €84,933 | -€21,222 | -20.0% |
| Operating profit (loss) | 9901 | €49,530 | €50,766 | +€1,237 | +2.5% |
| Financial income | 75/76B | €212 | €268 | +€55 | +26.1% |
| Recurring financial income | 75 | €212 | €268 | +€55 | +26.1% |
| Financial charges | 65/66B | €12,380 | €9,832 | -€2,548 | -20.6% |
| Recurring financial charges | 65 | €12,380 | €9,832 | -€2,548 | -20.6% |
| Profit (loss) for the period before taxes | 9903 | €37,362 | €41,202 | +€3,840 | +10.3% |
| Income taxes | 67/77 | €13,479 | €13,758 | +€279 | +2.1% |
| Profit (loss) for the period | 9904 | €23,883 | €27,445 | +€3,561 | +14.9% |
| Profit (loss) for the period to be appropriated | 9905 | €23,883 | €27,445 | +€3,561 | +14.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.