MEDELFO: 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.
MEDELFO
Largest movements
- Cash -€12,703
down €12,703 (-21.1%), from €60,181 to €47,478
mainly Tax, wage and social debts (-€9,885) and Receivables within one year (-€9,292)
- Receivables within one year +€9,292
up €9,292 (+22.4%), from €41,569 to €50,861
of which Other amounts receivable: +€17,624
- Stocks and contracts +€5,545
up €5,545 (+51.4%), from €10,783 to €16,328
- Tangible fixed assets +€1,905
up €1,905 (+7.4%), from €25,793 to €27,698
of which Land and buildings: +€3,906
- Reserves +€13,975
up €13,975 (+18.3%), from €76,569 to €90,544
of which Distributable reserves: +€13,975
- Tax, wage and social debts -€9,885
down €9,885 (-33.0%), from €29,937 to €20,053
- Gross operating margin -€17,478
down €17,478 (-38.0%), from €46,055 to €28,577
- Taxes -€3,110
down €3,110 (-30.7%), from €10,144 to €7,034
- Other operating charges -€1,822
down €1,822 (-43.5%), from €4,185 to €2,363
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €144,118 | €147,145 | +€3,026 | +2.1% |
| Fixed assets | 21/28 | €25,793 | €27,698 | +€1,905 | +7.4% |
| Tangible fixed assets | 22/27 | €25,793 | €27,698 | +€1,905 | +7.4% |
| Land and buildings | 22 | €10,855 | €14,761 | +€3,906 | +36.0% |
| Plant, machinery and equipment | 23 | €14,938 | €12,936 | -€2,001 | -13.4% |
| Current assets | 29/58 | €118,326 | €119,447 | +€1,121 | +0.9% |
| Stocks and contracts in progress | 3 | €10,783 | €16,328 | +€5,545 | +51.4% |
| Stocks | 30/36 | €10,783 | €16,328 | +€5,545 | +51.4% |
| Amounts receivable within one year | 40/41 | €41,569 | €50,861 | +€9,292 | +22.4% |
| Trade receivables | 40 | €23,038 | €14,706 | -€8,332 | -36.2% |
| Other amounts receivable | 41 | €18,531 | €36,155 | +€17,624 | +95.1% |
| Cash at bank and in hand | 54/58 | €60,181 | €47,478 | -€12,703 | -21.1% |
| Deferred charges and accrued income | 490/1 | €5,792 | €4,779 | -€1,014 | -17.5% |
| Total equity and liabilities | 10/49 | €144,118 | €147,145 | +€3,026 | +2.1% |
| Equity | 10/15 | €95,174 | €109,148 | +€13,975 | +14.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | - | -€18,600 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Contributions outside capital | 11 | - | €18,600 | +€18,600 | |
| Share premium | 1100/10 | - | €18,600 | +€18,600 | |
| Reserves | 13 | €76,569 | €90,544 | +€13,975 | +18.3% |
| Non-distributable reserves | 130/1 | €841 | €841 | = | 0.0% |
| Legal reserve | 130 | €841 | €841 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,695 | €1,695 | = | 0.0% |
| Distributable reserves | 133 | €74,032 | €88,007 | +€13,975 | +18.9% |
| Profit (loss) carried forward | 14 | €5 | €5 | = | 0.0% |
| Amounts payable | 17/49 | €48,945 | €37,996 | -€10,949 | -22.4% |
| Amounts payable within one year | 42/48 | €48,945 | €37,996 | -€10,949 | -22.4% |
| Financial debts | 43 | €1,667 | €1,000 | -€667 | -40.0% |
| Other loans | 439 | €1,667 | €1,000 | -€667 | -40.0% |
| Trade debts | 44 | €15,661 | €14,704 | -€957 | -6.1% |
| Suppliers | 440/4 | €15,661 | €14,704 | -€957 | -6.1% |
| Taxes, remuneration and social security | 45 | €29,937 | €20,053 | -€9,885 | -33.0% |
| Taxes | 450/3 | €29,937 | €20,053 | -€9,885 | -33.0% |
| Other amounts payable | 47/48 | €1,680 | €2,240 | +€560 | +33.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,391 | €4,323 | -€68 | -1.6% |
| Other operating charges | 640/8 | €4,185 | €2,363 | -€1,822 | -43.5% |
| Gross operating margin | 9900 | €46,055 | €28,577 | -€17,478 | -38.0% |
| Operating profit (loss) | 9901 | €37,479 | €21,891 | -€15,589 | -41.6% |
| Financial income | 75/76B | €1,052 | €1,098 | +€47 | +4.4% |
| Recurring financial income | 75 | €1,052 | €1,098 | +€47 | +4.4% |
| Financial charges | 65/66B | €915 | €1,180 | +€266 | +29.1% |
| Recurring financial charges | 65 | €915 | €1,180 | +€266 | +29.1% |
| Profit (loss) for the period before taxes | 9903 | €37,616 | €21,809 | -€15,808 | -42.0% |
| Income taxes | 67/77 | €10,144 | €7,034 | -€3,110 | -30.7% |
| Profit (loss) for the period | 9904 | €27,472 | €14,775 | -€12,698 | -46.2% |
| Profit (loss) for the period to be appropriated | 9905 | €27,472 | €14,775 | -€12,698 | -46.2% |
Source: filed annual accounts (NBB), financial years ended 30 September 2023 and 30 September 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.