MEDEOR: 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.
MEDEOR
Largest movements
- Cash +€48,133
up €48,133 (+116%), from €41,644 to €89,776
mainly Other debts (+€73,338) and Net result for the year (+€61,804)
- Tangible fixed assets -€11,583
down €11,583 (-15.8%), from €73,517 to €61,934
of which Plant, machinery and equipment: -€8,526
- Receivables within one year -€8,517
down €8,517 (-56.6%), from €15,053 to €6,535
of which Other amounts receivable: -€10,782
- Other debts +€73,338
up €73,338 (+117%), from €62,657 to €135,995
- Trade debts -€23,770
down €23,770 (-63.5%), from €37,435 to €13,666
- Reserves -€20,000
down €20,000 (-100%), from €20,000 to €0
- Gross operating margin +€10,676
up €10,676 (+8.1%), from €131,516 to €142,191
- Staff costs +€6,912
up €6,912 (+18.0%), from €38,431 to €45,343
- Depreciation +€2,611
up €2,611 (+17.4%), from €14,975 to €17,586
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 | €150,688 | €180,857 | +€30,169 | +20.0% |
| Fixed assets | 21/28 | €73,517 | €61,934 | -€11,583 | -15.8% |
| Tangible fixed assets | 22/27 | €73,517 | €61,934 | -€11,583 | -15.8% |
| Plant, machinery and equipment | 23 | €42,298 | €33,772 | -€8,526 | -20.2% |
| Furniture and vehicles | 24 | €3,712 | €3,793 | +€81 | +2.2% |
| Other tangible fixed assets | 26 | €27,507 | €24,369 | -€3,137 | -11.4% |
| Current assets | 29/58 | €77,171 | €118,923 | +€41,752 | +54.1% |
| Stocks and contracts in progress | 3 | €19,596 | €20,629 | +€1,033 | +5.3% |
| Stocks | 30/36 | €19,596 | €20,629 | +€1,033 | +5.3% |
| Amounts receivable within one year | 40/41 | €15,053 | €6,535 | -€8,517 | -56.6% |
| Trade receivables | 40 | €2,655 | €4,920 | +€2,265 | +85.3% |
| Other amounts receivable | 41 | €12,397 | €1,615 | -€10,782 | -87.0% |
| Cash at bank and in hand | 54/58 | €41,644 | €89,776 | +€48,133 | +116% |
| Deferred charges and accrued income | 490/1 | €879 | €1,982 | +€1,103 | +125% |
| Total equity and liabilities | 10/49 | €150,688 | €180,857 | +€30,169 | +20.0% |
| Equity | 10/15 | €38,600 | €18,600 | -€20,000 | -51.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €20,000 | €0 | -€20,000 | -100% |
| Distributable reserves | 133 | €20,000 | €0 | -€20,000 | -100% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €112,088 | €162,257 | +€50,169 | +44.8% |
| Amounts payable within one year | 42/48 | €112,088 | €161,984 | +€49,897 | +44.5% |
| Trade debts | 44 | €37,435 | €13,666 | -€23,770 | -63.5% |
| Suppliers | 440/4 | €37,435 | €13,666 | -€23,770 | -63.5% |
| Taxes, remuneration and social security | 45 | €11,995 | €12,323 | +€328 | +2.7% |
| Taxes | 450/3 | €709 | €2,671 | +€1,961 | +276% |
| Remuneration and social security | 454/9 | €11,286 | €9,653 | -€1,633 | -14.5% |
| Other amounts payable | 47/48 | €62,657 | €135,995 | +€73,338 | +117% |
| Accrued charges and deferred income | 492/3 | - | €272 | +€272 | |
| Remuneration, social security and pensions | 62 | €38,431 | €45,343 | +€6,912 | +18.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,975 | €17,586 | +€2,611 | +17.4% |
| Other operating charges | 640/8 | €513 | €528 | +€14 | +2.8% |
| Gross operating margin | 9900 | €131,516 | €142,191 | +€10,676 | +8.1% |
| Operating profit (loss) | 9901 | €77,596 | €78,734 | +€1,138 | +1.5% |
| Financial income | 75/76B | €304 | €670 | +€366 | +121% |
| Recurring financial income | 75 | €304 | €670 | +€366 | +121% |
| Financial charges | 65/66B | €1,428 | €1,615 | +€188 | +13.2% |
| Recurring financial charges | 65 | €1,428 | €1,615 | +€188 | +13.2% |
| Profit (loss) for the period before taxes | 9903 | €76,472 | €77,788 | +€1,316 | +1.7% |
| Income taxes | 67/77 | €15,963 | €15,984 | +€21 | +0.1% |
| Profit (loss) for the period | 9904 | €60,509 | €61,804 | +€1,295 | +2.1% |
| Profit (loss) for the period to be appropriated | 9905 | €60,509 | €61,804 | +€1,295 | +2.1% |
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 17 October 2026 via checked.be.