MEDINA: 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.
What changed
MEDINA
NACE 47.721, Retail sale of footwear
financial year 2026 compared with 2025filed annual accounts (NBB)
Net result for the year
-€705,501
2025 · €182,365-€887,866
Equity
€6.1m
2025 · €8.8m-€2.7m
Cash
€2.2m
2025 · €2.7m-€538,379
Balance sheet total
€8.7m
2025 · €11.1m-€2.3m
Largest movements
Assets
- Financial fixed assets -€2.1m
down €2.1m (-100%), from €2.1m to €0
- Cash -€538,379
down €538,379 (-19.9%), from €2.7m to €2.2m
mainly Contributions, distributions and other (-€2.0m) and Net result for the year (-€705,501)
- Stocks and contracts +€178,056
up €178,056 (+4.7%), from €3.8m to €3.9m
- Tangible fixed assets +€138,542
up €138,542 (+14.9%), from €927,663 to €1.1m
of which Plant, machinery and equipment: +€140,023
Equity and liabilities
- Reserves -€2.7m
down €2.7m (-32.5%), from €8.3m to €5.6m
of which Distributable reserves: -€2.7m
- Trade debts +€431,418
up €431,418 (+33.5%), from €1.3m to €1.7m
Income statement
- Turnover -€470,311
down €470,311 (-3.1%), from €15.1m to €14.6m
From the 2025 result to the 2026 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.
Result 2025
€182,365
Turnover
-€470,311
Other operating income
+€5,719
Goods and materials
+€14,512
Services and other goods
-€80,971
Staff costs
-€145,541
Depreciation
-€27,195
Provisions
-€148,895
Other operating charges
-€4,314
Other operating items
-€19,352
Financial income
-€90,685
Financial charges
+€1,026
Taxes
+€78,141
Result 2026
-€705,501
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
-€187,230
Investment
+€1.6m
Financing
-€2.0m
Cash 2025
€2.7m
From operations (derived)
-€187,230
Net result for the year
-€705,501
Depreciation
+€299,335
Stocks and contracts
-€178,056
Receivables within one year
+€47,153
Deferred charges and accrued income
-€30,774
Smaller working-capital items
-€1,973
Trade debts
+€431,418
Tax, wage and social debts
-€48,832
Investment (derived)
+€1.6m
Investment in fixed assets (net)
+€1.6m
Financing
-€2.0m
Contributions, distributions and other
-€2.0m
Cash 2026
€2.2m
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €11,064,986 | €8,740,099 | -€2.3m | -21.0% |
| Fixed assets | 21/28 | €3,123,994 | €1,175,809 | -€1.9m | -62.4% |
| Intangible fixed assets | 21 | €128,621 | €109,604 | -€19,016 | -14.8% |
| Tangible fixed assets | 22/27 | €927,663 | €1,066,204 | +€138,542 | +14.9% |
| Land and buildings | 22 | €29,048 | €28,108 | -€940 | -3.2% |
| Plant, machinery and equipment | 23 | €898,074 | €1,038,097 | +€140,023 | +15.6% |
| Furniture and vehicles | 24 | €541 | €0 | -€541 | -100% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Financial fixed assets | 28 | €2,067,711 | €0 | -€2.1m | -100% |
| Affiliated companies | 280/1 | €2,067,711 | €0 | -€2.1m | -100% |
| Amounts receivable | 281 | €2,067,711 | €0 | -€2.1m | -100% |
| Current assets | 29/58 | €7,940,991 | €7,564,290 | -€376,701 | -4.7% |
| Stocks and contracts in progress | 3 | €3,756,339 | €3,934,395 | +€178,056 | +4.7% |
| Stocks | 30/36 | €3,756,339 | €3,934,395 | +€178,056 | +4.7% |
| Goods purchased for resale | 34 | €3,756,339 | €3,934,395 | +€178,056 | +4.7% |
| Amounts receivable within one year | 40/41 | €1,413,096 | €1,365,944 | -€47,153 | -3.3% |
| Trade receivables | 40 | €99,182 | €22,815 | -€76,367 | -77.0% |
| Other amounts receivable | 41 | €1,313,914 | €1,343,129 | +€29,215 | +2.2% |
| Cash at bank and in hand | 54/58 | €2,706,405 | €2,168,026 | -€538,379 | -19.9% |
| Deferred charges and accrued income | 490/1 | €65,151 | €95,925 | +€30,774 | +47.2% |
| Total equity and liabilities | 10/49 | €11,064,986 | €8,740,099 | -€2.3m | -21.0% |
| Equity | 10/15 | €8,792,661 | €6,087,160 | -€2.7m | -30.8% |
| Contributions | 10/11 | €475,000 | €475,000 | = | 0.0% |
| Capital | 10 | €475,000 | €475,000 | = | 0.0% |
| Issued capital | 100 | €475,000 | €475,000 | = | 0.0% |
| Reserves | 13 | €8,317,661 | €5,612,160 | -€2.7m | -32.5% |
| Non-distributable reserves | 130/1 | €47,500 | €47,500 | = | 0.0% |
| Legal reserve | 130 | €47,500 | €47,500 | = | 0.0% |
| Distributable reserves | 133 | €8,270,161 | €5,564,660 | -€2.7m | -32.7% |
| Provisions and deferred taxes | 16 | €463,921 | €461,896 | -€2,025 | -0.4% |
| Provisions for liabilities and charges | 160/5 | €463,921 | €461,896 | -€2,025 | -0.4% |
| Other liabilities and charges | 164/5 | €463,921 | €461,896 | -€2,025 | -0.4% |
| Amounts payable | 17/49 | €1,808,404 | €2,191,043 | +€382,639 | +21.2% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €1,808,404 | €2,191,043 | +€382,639 | +21.2% |
| Trade debts | 44 | €1,287,539 | €1,718,958 | +€431,418 | +33.5% |
| Suppliers | 440/4 | €1,287,539 | €1,718,958 | +€431,418 | +33.5% |
| Taxes, remuneration and social security | 45 | €459,710 | €410,878 | -€48,832 | -10.6% |
| Taxes | 450/3 | €266,136 | €210,676 | -€55,460 | -20.8% |
| Remuneration and social security | 454/9 | €193,574 | €200,202 | +€6,628 | +3.4% |
| Other amounts payable | 47/48 | €61,154 | €61,207 | +€53 | +0.1% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Operating income | 70/76A | €15,146,063 | €14,680,645 | -€465,418 | -3.1% |
| Turnover | 70 | €15,118,065 | €14,647,754 | -€470,311 | -3.1% |
| Other operating income | 74 | €20,560 | €26,279 | +€5,719 | +27.8% |
| Non-recurring operating income | 76A | €7,438 | €6,612 | -€826 | -11.1% |
| Operating charges | 60/66A | €15,216,714 | €15,627,644 | +€410,930 | +2.7% |
| Goods for resale, raw materials and consumables | 60 | €8,635,045 | €8,620,533 | -€14,512 | -0.2% |
| Purchases | 600/8 | €8,626,076 | €8,798,590 | +€172,514 | +2.0% |
| Change in stocks: decrease (increase) | 609 | €8,969 | -€178,056 | -€187,026 | |
| Services and other goods | 61 | €4,887,431 | €4,968,402 | +€80,971 | +1.7% |
| Remuneration, social security and pensions | 62 | €1,538,660 | €1,684,201 | +€145,541 | +9.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €272,139 | €299,335 | +€27,195 | +10.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€150,920 | -€2,025 | +€148,895 | +98.7% |
| Other operating charges | 640/8 | €34,359 | €38,673 | +€4,314 | +12.6% |
| Non-recurring operating charges | 66A | €0 | €18,526 | +€18,526 | |
| Operating profit (loss) | 9901 | -€70,651 | -€946,999 | -€876,348 | -1,240% |
| Financial income | 75/76B | €341,638 | €250,953 | -€90,685 | -26.5% |
| Recurring financial income | 75 | €341,638 | €250,953 | -€90,685 | -26.5% |
| Income from financial fixed assets | 750 | €80,121 | €8,100 | -€72,022 | -89.9% |
| Income from current assets | 751 | €0 | - | = | |
| Other financial income | 752/9 | €261,516 | €242,853 | -€18,663 | -7.1% |
| Financial charges | 65/66B | €9,928 | €8,902 | -€1,026 | -10.3% |
| Recurring financial charges | 65 | €9,928 | €8,902 | -€1,026 | -10.3% |
| Debt charges | 650 | €5,022 | €4,390 | -€632 | -12.6% |
| Other financial charges | 652/9 | €4,906 | €4,512 | -€394 | -8.0% |
| Profit (loss) for the period before taxes | 9903 | €261,058 | -€704,948 | -€966,006 | |
| Income taxes | 67/77 | €78,693 | €553 | -€78,141 | -99.3% |
| Taxes | 670/3 | €79,000 | €1,000 | -€78,000 | -98.7% |
| Tax adjustments and reversals of tax provisions | 77 | €307 | €447 | +€141 | +45.8% |
| Profit (loss) for the period | 9904 | €182,365 | -€705,501 | -€887,866 | |
| Profit (loss) for the period to be appropriated | 9905 | €182,365 | -€705,501 | -€887,866 |
Source: filed annual accounts (NBB), financial years ended 31 January 2025 and 31 January 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.