MEDI KORMAN: what changed
Two fiscal 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.
MEDI KORMAN
Largest movements
- Cash +€9,706
up €9,706 (+16.1%), from €60,116 to €69,822
mainly Other debts (+€13,450) and Net result for the year (+€3,897)
- Deferred charges and accrued income +€6,081
up €6,081 (+9.8%), from €61,755 to €67,836
- Other debts +€13,450
up €13,450 (+8.8%), from €152,339 to €165,789
- Profit (loss) carried forward +€3,897
up €3,897 (+7.1%), from -€55,119 to -€51,222
- Financial charges +€8,422
up €8,422 (+14.8%), from €56,941 to €65,363
- Gross operating margin +€6,454
up €6,454 (+10.1%), from €64,007 to €70,461
- Other operating charges -€873
down €873 (-52.6%), from €1,659 to €786
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.
Cash bridge derived
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 | €135,327 | €151,073 | +€15,746 | +11.6% |
| Fixed assets | 21/28 | €295 | - | -€295 | |
| Tangible fixed assets | 22/27 | €295 | - | -€295 | |
| Furniture and vehicles | 24 | €295 | - | -€295 | |
| Current assets | 29/58 | €135,032 | €151,073 | +€16,041 | +11.9% |
| Amounts receivable within one year | 40/41 | €9,571 | €9,803 | +€232 | +2.4% |
| Other amounts receivable | 41 | €9,571 | €9,803 | +€232 | +2.4% |
| Current investments | 50/53 | €3,591 | €3,613 | +€22 | +0.6% |
| Cash at bank and in hand | 54/58 | €60,116 | €69,822 | +€9,706 | +16.1% |
| Deferred charges and accrued income | 490/1 | €61,755 | €67,836 | +€6,081 | +9.8% |
| Total equity and liabilities | 10/49 | €135,327 | €151,073 | +€15,746 | +11.6% |
| Equity | 10/15 | -€20,881 | -€16,984 | +€3,897 | +18.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Outside capital | 11 | €12,400 | €12,400 | = | 0.0% |
| Other | 1109/19 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €21,838 | €21,838 | = | 0.0% |
| 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 | €19,978 | €19,978 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€55,119 | -€51,222 | +€3,897 | +7.1% |
| Amounts payable | 17/49 | €156,208 | €168,058 | +€11,850 | +7.6% |
| Amounts payable within one year | 42/48 | €156,208 | €168,058 | +€11,850 | +7.6% |
| Current portion of amounts payable after more than one year | 42 | €199 | - | -€199 | |
| Trade debts | 44 | €3,670 | €2,268 | -€1,402 | -38.2% |
| Suppliers | 440/4 | €3,670 | €2,268 | -€1,402 | -38.2% |
| Other amounts payable | 47/48 | €152,339 | €165,789 | +€13,450 | +8.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €458 | €295 | -€163 | -35.6% |
| Other operating charges | 640/8 | €1,659 | €786 | -€873 | -52.6% |
| Gross operating margin | 9900 | €64,007 | €70,461 | +€6,454 | +10.1% |
| Operating profit (loss) | 9901 | €61,890 | €69,380 | +€7,490 | +12.1% |
| Financial income | 75/76B | €57 | €25 | -€32 | -56.0% |
| Recurring financial income | 75 | €57 | €25 | -€32 | -56.0% |
| Financial charges | 65/66B | €56,941 | €65,363 | +€8,422 | +14.8% |
| Recurring financial charges | 65 | €56,941 | €65,363 | +€8,422 | +14.8% |
| Profit (loss) for the period before taxes | 9903 | €5,005 | €4,042 | -€964 | -19.3% |
| Income taxes | 67/77 | €138 | €145 | +€7 | +5.0% |
| Profit (loss) for the period | 9904 | €4,868 | €3,897 | -€971 | -19.9% |
| Profit (loss) for the period to be appropriated | 9905 | €4,868 | €3,897 | -€971 | -19.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.