MEDELAN: 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.
MEDELAN
Largest movements
- Cash +€95,057
up €95,057 (+20.1%), from €473,609 to €568,666
mainly Net result for the year (+€102,419) and Deferred charges and accrued income (+€1,374)
- Reserves +€102,419
up €102,419 (+23.0%), from €445,243 to €547,662
- Gross operating margin +€86,071
up €86,071 (+184%), from €46,825 to €132,896
- Taxes +€19,657
up €19,657 (+205%), from €9,596 to €29,253
- Depreciation -€1,855
down €1,855 (-100%), from €1,855 to €0
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 | €475,420 | €569,103 | +€93,683 | +19.7% |
| Fixed assets | 21/28 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €475,420 | €569,103 | +€93,683 | +19.7% |
| Amounts receivable within one year | 40/41 | €437 | €437 | = | 0.0% |
| Other amounts receivable | 41 | €437 | €437 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €473,609 | €568,666 | +€95,057 | +20.1% |
| Deferred charges and accrued income | 490/1 | €1,374 | €0 | -€1,374 | -100% |
| Total equity and liabilities | 10/49 | €475,420 | €569,103 | +€93,683 | +19.7% |
| Equity | 10/15 | €450,243 | €552,662 | +€102,419 | +22.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €445,243 | €547,662 | +€102,419 | +23.0% |
| Distributable reserves | 133 | €445,243 | €547,662 | +€102,419 | +23.0% |
| Amounts payable | 17/49 | €25,177 | €16,441 | -€8,736 | -34.7% |
| Amounts payable within one year | 42/48 | €24,728 | €15,992 | -€8,736 | -35.3% |
| Trade debts | 44 | €19 | €19 | +€0 | +2.4% |
| Suppliers | 440/4 | €19 | €19 | +€0 | +2.4% |
| Taxes, remuneration and social security | 45 | €12,804 | €8,505 | -€4,299 | -33.6% |
| Taxes | 450/3 | €10,304 | €5,505 | -€4,799 | -46.6% |
| Remuneration and social security | 454/9 | €2,500 | €3,000 | +€500 | +20.0% |
| Other amounts payable | 47/48 | €11,905 | €7,467 | -€4,438 | -37.3% |
| Accrued charges and deferred income | 492/3 | €449 | €449 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,855 | €0 | -€1,855 | -100% |
| Other operating charges | 640/8 | €854 | €843 | -€11 | -1.3% |
| Gross operating margin | 9900 | €46,825 | €132,896 | +€86,071 | +184% |
| Operating profit (loss) | 9901 | €44,116 | €132,054 | +€87,938 | +199% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €83 | €382 | +€299 | +358% |
| Recurring financial charges | 65 | €83 | €382 | +€299 | +358% |
| Profit (loss) for the period before taxes | 9903 | €44,032 | €131,672 | +€87,640 | +199% |
| Income taxes | 67/77 | €9,596 | €29,253 | +€19,657 | +205% |
| Profit (loss) for the period | 9904 | €34,436 | €102,419 | +€67,983 | +197% |
| Profit (loss) for the period to be appropriated | 9905 | €34,436 | €102,419 | +€67,983 | +197% |
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 14 October 2026 via checked.be.