MEDED: 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.
MEDED
Largest movements
- Tangible fixed assets +€7,883
up €7,883 (+18.3%), from €43,058 to €50,942
of which Leasing and similar rights: +€15,900
- Receivables within one year +€2,430
up €2,430 (+9.7%), from €25,159 to €27,590
of which Other amounts receivable: +€9,730
- Cash +€2,041
up €2,041 (+5.1%), from €40,199 to €42,241
mainly Net result for the year (+€21,603) and Depreciation (+€12,295)
- Profit (loss) carried forward +€21,603
up €21,603 (+64.0%), from €33,764 to €55,367
- Short-term financial debts -€5,919
no longer reported in 2025 (was €5,919)
- Trade debts -€5,841
down €5,841 (-43.0%), from €13,596 to €7,755
- Debts after one year +€3,095
up €3,095 (+10.0%), from €31,059 to €34,155
- Current portion of long-term debt +€2,946
up €2,946 (+40.0%), from €7,367 to €10,313
- Staff costs +€26,815
new in 2025: €26,815
- Gross operating margin +€21,175
up €21,175 (+45.4%), from €46,590 to €67,765
- Depreciation +€8,434
up €8,434 (+218.4%), from €3,861 to €12,295
- Taxes -€4,147
down €4,147 (-52.5%), from €7,904 to €3,757
- Financial charges +€2,301
up €2,301 (+441.6%), from €521 to €2,823
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 | €118,917 | €132,679 | +€13,761 | +11.6% |
| Fixed assets | 21/28 | €48,058 | €55,942 | +€7,883 | +16.4% |
| Tangible fixed assets | 22/27 | €43,058 | €50,942 | +€7,883 | +18.3% |
| Plant, machinery and equipment | 23 | €16,552 | €11,571 | -€4,981 | -30.1% |
| Furniture and vehicles | 24 | €14,246 | €13,734 | -€513 | -3.6% |
| Leasing and similar rights | 25 | - | €15,900 | +€15,900 | |
| Other tangible fixed assets | 26 | €12,260 | €9,737 | -€2,523 | -20.6% |
| Financial fixed assets | 28 | €5,000 | €5,000 | = | 0.0% |
| Current assets | 29/58 | €70,859 | €76,737 | +€5,878 | +8.3% |
| Stocks and contracts in progress | 3 | €5,500 | €6,314 | +€814 | +14.8% |
| Stocks | 30/36 | €5,500 | €6,314 | +€814 | +14.8% |
| Amounts receivable within one year | 40/41 | €25,159 | €27,590 | +€2,430 | +9.7% |
| Trade receivables | 40 | €18,690 | €11,390 | -€7,299 | -39.1% |
| Other amounts receivable | 41 | €6,470 | €16,199 | +€9,730 | +150.4% |
| Cash at bank and in hand | 54/58 | €40,199 | €42,241 | +€2,041 | +5.1% |
| Deferred charges and accrued income | 490/1 | - | €592 | +€592 | |
| Total equity and liabilities | 10/49 | €118,917 | €132,679 | +€13,761 | +11.6% |
| Equity | 10/15 | €36,764 | €58,497 | +€21,733 | +59.1% |
| Contributions | 10/11 | €3,000 | €3,130 | +€130 | +4.3% |
| Profit (loss) carried forward | 14 | €33,764 | €55,367 | +€21,603 | +64.0% |
| Amounts payable | 17/49 | €82,154 | €74,182 | -€7,971 | -9.7% |
| Amounts payable after more than one year | 17 | €31,059 | €34,155 | +€3,095 | +10.0% |
| Financial debts | 170/4 | €31,059 | €34,155 | +€3,095 | +10.0% |
| Amounts payable within one year | 42/48 | €51,094 | €40,028 | -€11,067 | -21.7% |
| Current portion of amounts payable after more than one year | 42 | €7,367 | €10,313 | +€2,946 | +40.0% |
| Financial debts | 43 | €5,919 | - | -€5,919 | |
| Credit institutions | 430/8 | €5,919 | - | -€5,919 | |
| Trade debts | 44 | €13,596 | €7,755 | -€5,841 | -43.0% |
| Suppliers | 440/4 | €13,596 | €7,755 | -€5,841 | -43.0% |
| Taxes, remuneration and social security | 45 | €24,213 | €21,960 | -€2,253 | -9.3% |
| Taxes | 450/3 | €22,316 | €14,836 | -€7,480 | -33.5% |
| Remuneration and social security | 454/9 | €1,896 | €7,123 | +€5,227 | +275.6% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | - | €26,815 | +€26,815 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,861 | €12,295 | +€8,434 | +218.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €233 | +€233 | |
| Other operating charges | 640/8 | €589 | €467 | -€122 | -20.6% |
| Gross operating margin | 9900 | €46,590 | €67,765 | +€21,175 | +45.4% |
| Operating profit (loss) | 9901 | €42,140 | €27,955 | -€14,185 | -33.7% |
| Financial income | 75/76B | €49 | €227 | +€178 | +360.4% |
| Recurring financial income | 75 | €49 | €227 | +€178 | +360.4% |
| Financial charges | 65/66B | €521 | €2,823 | +€2,301 | +441.6% |
| Recurring financial charges | 65 | €521 | €2,823 | +€2,301 | +441.6% |
| Profit (loss) for the period before taxes | 9903 | €41,668 | €25,360 | -€16,309 | -39.1% |
| Income taxes | 67/77 | €7,904 | €3,757 | -€4,147 | -52.5% |
| Profit (loss) for the period | 9904 | €33,764 | €21,603 | -€12,161 | -36.0% |
| Profit (loss) for the period to be appropriated | 9905 | €33,764 | €21,603 | -€12,161 | -36.0% |
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.