MEDES: 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.
MEDES
Largest movements
- Receivables within one year -€54,438
down €54,438 (-92.1%), from €59,110 to €4,672
of which Other amounts receivable: -€58,138
- Tangible fixed assets -€37,531
down €37,531 (-17.4%), from €215,946 to €178,415
of which Plant, machinery and equipment: -€28,669
- Cash -€5,986
down €5,986 (-17.5%), from €34,173 to €28,187
mainly Other debts (-€72,854) and Debts after one year (-€25,792)
- Intangible fixed assets -€5,000
down €5,000 (-25.0%), from €20,000 to €15,000
- Other debts -€72,854
down €72,854 (-29.5%), from €246,706 to €173,853
- Debts after one year -€25,792
down €25,792 (-49.9%), from €51,714 to €25,923
- Gross operating margin -€6,774
down €6,774 (-11.0%), from €61,798 to €55,024
- Depreciation -€5,142
down €5,142 (-9.6%), from €53,603 to €48,461
- Financial charges -€2,142
down €2,142 (-37.5%), from €5,717 to €3,575
- Other operating charges +€1,057
up €1,057 (+87.6%), from €1,207 to €2,263
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 | €374,168 | €273,212 | -€100,955 | -27.0% |
| Fixed assets | 21/28 | €241,046 | €198,515 | -€42,531 | -17.6% |
| Intangible fixed assets | 21 | €20,000 | €15,000 | -€5,000 | -25.0% |
| Tangible fixed assets | 22/27 | €215,946 | €178,415 | -€37,531 | -17.4% |
| Plant, machinery and equipment | 23 | €146,545 | €117,876 | -€28,669 | -19.6% |
| Furniture and vehicles | 24 | €47,517 | €38,655 | -€8,862 | -18.7% |
| Other tangible fixed assets | 26 | €21,884 | €21,884 | = | 0.0% |
| Financial fixed assets | 28 | €5,100 | €5,100 | = | 0.0% |
| Current assets | 29/58 | €133,121 | €74,697 | -€58,424 | -43.9% |
| Stocks and contracts in progress | 3 | €35,000 | €35,000 | = | 0.0% |
| Stocks | 30/36 | €35,000 | €35,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €59,110 | €4,672 | -€54,438 | -92.1% |
| Trade receivables | 40 | - | €3,700 | +€3,700 | |
| Other amounts receivable | 41 | €59,110 | €972 | -€58,138 | -98.4% |
| Cash at bank and in hand | 54/58 | €34,173 | €28,187 | -€5,986 | -17.5% |
| Deferred charges and accrued income | 490/1 | €4,839 | €6,839 | +€2,000 | +41.3% |
| Total equity and liabilities | 10/49 | €374,168 | €273,212 | -€100,955 | -27.0% |
| Equity | 10/15 | €34,010 | €34,306 | +€296 | +0.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €15,410 | €15,706 | +€296 | +1.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €13,550 | €13,846 | +€296 | +2.2% |
| Amounts payable | 17/49 | €340,158 | €238,907 | -€101,251 | -29.8% |
| Amounts payable after more than one year | 17 | €51,714 | €25,923 | -€25,792 | -49.9% |
| Financial debts | 170/4 | €51,714 | €25,923 | -€25,792 | -49.9% |
| Amounts payable within one year | 42/48 | €288,444 | €212,984 | -€75,460 | -26.2% |
| Current portion of amounts payable after more than one year | 42 | €27,836 | €27,241 | -€595 | -2.1% |
| Trade debts | 44 | €6,876 | €3,475 | -€3,401 | -49.5% |
| Suppliers | 440/4 | €6,876 | €3,475 | -€3,401 | -49.5% |
| Taxes, remuneration and social security | 45 | €7,025 | €8,415 | +€1,390 | +19.8% |
| Taxes | 450/3 | €7,025 | €3,615 | -€3,410 | -48.5% |
| Remuneration and social security | 454/9 | - | €4,800 | +€4,800 | |
| Other amounts payable | 47/48 | €246,706 | €173,853 | -€72,854 | -29.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,603 | €48,461 | -€5,142 | -9.6% |
| Other operating charges | 640/8 | €1,207 | €2,263 | +€1,057 | +87.6% |
| Gross operating margin | 9900 | €61,798 | €55,024 | -€6,774 | -11.0% |
| Operating profit (loss) | 9901 | €6,988 | €4,299 | -€2,689 | -38.5% |
| Financial income | 75/76B | €48 | €97 | +€49 | +101% |
| Recurring financial income | 75 | €48 | €97 | +€49 | +101% |
| Financial charges | 65/66B | €5,717 | €3,575 | -€2,142 | -37.5% |
| Recurring financial charges | 65 | €5,717 | €3,575 | -€2,142 | -37.5% |
| Profit (loss) for the period before taxes | 9903 | €1,320 | €822 | -€498 | -37.7% |
| Income taxes | 67/77 | €1,130 | €526 | -€604 | -53.5% |
| Profit (loss) for the period | 9904 | €190 | €296 | +€107 | +56.2% |
| Profit (loss) for the period to be appropriated | 9905 | €190 | €296 | +€107 | +56.2% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.