MEDERM: 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.
MEDERM
Largest movements
- Financial fixed assets +€250,000
up €250,000 (+15,060%), from €1,660 to €251,660
- Tangible fixed assets -€14,423
down €14,423 (-7.4%), from €196,034 to €181,611
of which Land and buildings: -€11,014
- Receivables within one year +€9,286
up €9,286 (+215%), from €4,324 to €13,610
of which Other amounts receivable: +€9,407
- Debts after one year +€211,961
new in 2025: €211,961
- Current portion of long-term debt +€22,004
new in 2025: €22,004
- Tax, wage and social debts +€6,403
up €6,403 (+93.0%), from €6,888 to €13,290
of which Taxes: +€10,559
- Trade debts +€4,671
up €4,671 (+45.8%), from €10,195 to €14,866
- Financial charges +€6,115
up €6,115 (+497%), from €1,230 to €7,344
- Gross operating margin +€2,706
up €2,706 (+4.8%), from €56,517 to €59,223
- Depreciation +€1,147
up €1,147 (+7.2%), from €15,830 to €16,977
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 | €208,304 | €452,888 | +€244,583 | +117% |
| Fixed assets | 21/28 | €197,694 | €433,271 | +€235,577 | +119% |
| Tangible fixed assets | 22/27 | €196,034 | €181,611 | -€14,423 | -7.4% |
| Land and buildings | 22 | €178,088 | €167,074 | -€11,014 | -6.2% |
| Plant, machinery and equipment | 23 | €10,999 | €9,745 | -€1,253 | -11.4% |
| Furniture and vehicles | 24 | €6,947 | €4,792 | -€2,155 | -31.0% |
| Financial fixed assets | 28 | €1,660 | €251,660 | +€250,000 | +15,060% |
| Current assets | 29/58 | €10,610 | €19,616 | +€9,006 | +84.9% |
| Amounts receivable within one year | 40/41 | €4,324 | €13,610 | +€9,286 | +215% |
| Trade receivables | 40 | €2,666 | €2,545 | -€121 | -4.5% |
| Other amounts receivable | 41 | €1,658 | €11,065 | +€9,407 | +567% |
| Cash at bank and in hand | 54/58 | €6,286 | €6,006 | -€280 | -4.5% |
| Total equity and liabilities | 10/49 | €208,304 | €452,888 | +€244,583 | +117% |
| Equity | 10/15 | €168,662 | €171,766 | +€3,104 | +1.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €136,860 | €137,860 | +€1,000 | +0.7% |
| Distributable reserves | 133 | €136,860 | €137,860 | +€1,000 | +0.7% |
| Profit (loss) carried forward | 14 | €19,402 | €21,506 | +€2,104 | +10.8% |
| Amounts payable | 17/49 | €39,642 | €281,121 | +€241,479 | +609% |
| Amounts payable after more than one year | 17 | - | €211,961 | +€211,961 | |
| Financial debts | 170/4 | - | €211,961 | +€211,961 | |
| Amounts payable within one year | 42/48 | €39,546 | €69,160 | +€29,614 | +74.9% |
| Current portion of amounts payable after more than one year | 42 | - | €22,004 | +€22,004 | |
| Trade debts | 44 | €10,195 | €14,866 | +€4,671 | +45.8% |
| Suppliers | 440/4 | €10,195 | €14,866 | +€4,671 | +45.8% |
| Taxes, remuneration and social security | 45 | €6,888 | €13,290 | +€6,403 | +93.0% |
| Taxes | 450/3 | €1,031 | €11,590 | +€10,559 | +1,024% |
| Remuneration and social security | 454/9 | €5,856 | €1,700 | -€4,156 | -71.0% |
| Other amounts payable | 47/48 | €22,464 | €19,000 | -€3,464 | -15.4% |
| Accrued charges and deferred income | 492/3 | €96 | - | -€96 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,830 | €16,977 | +€1,147 | +7.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €101 | +€101 | |
| Other operating charges | 640/8 | €2,803 | €2,264 | -€539 | -19.2% |
| Gross operating margin | 9900 | €56,517 | €59,223 | +€2,706 | +4.8% |
| Operating profit (loss) | 9901 | €37,884 | €39,881 | +€1,997 | +5.3% |
| Financial income | 75/76B | €44 | €82 | +€38 | +87.7% |
| Recurring financial income | 75 | €44 | €82 | +€38 | +87.7% |
| Financial charges | 65/66B | €1,230 | €7,344 | +€6,115 | +497% |
| Recurring financial charges | 65 | €1,230 | €7,344 | +€6,115 | +497% |
| Profit (loss) for the period before taxes | 9903 | €36,698 | €32,619 | -€4,079 | -11.1% |
| Income taxes | 67/77 | €10,355 | €10,606 | +€251 | +2.4% |
| Profit (loss) for the period | 9904 | €26,343 | €22,013 | -€4,330 | -16.4% |
| Profit (loss) for the period to be appropriated | 9905 | €26,343 | €22,013 | -€4,330 | -16.4% |
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 15 October 2026 via checked.be.