MEDINES: 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.
MEDINES
Largest movements
- Cash +€43,697
up €43,697 (+64.5%), from €67,750 to €111,446
mainly Net result for the year (+€147,713) and Depreciation (+€30,276)
- Deferred charges and accrued income +€23,282
up €23,282 (+154.5%), from €15,069 to €38,351
- Tangible fixed assets -€16,819
down €16,819 (-20.6%), from €81,740 to €64,921
of which Furniture and vehicles: -€15,156
- Receivables within one year +€16,396
up €16,396 (+7.5%), from €219,148 to €235,545
of which Trade receivables: +€17,862
- Reserves +€85,000
up €85,000 (+44.6%), from €190,447 to €275,447
of which Non-distributable reserves: +€85,000
- Trade debts +€27,008
up €27,008 (+452.3%), from €5,971 to €32,979
- Debts after one year -€20,312
down €20,312 (-67.3%), from €30,184 to €9,872
- Tax, wage and social debts -€18,037
down €18,037 (-28.8%), from €62,611 to €44,575
of which Taxes: -€18,634
- Current portion of long-term debt -€12,336
down €12,336 (-26.7%), from €46,128 to €33,793
- Gross operating margin +€50,072
up €50,072 (+21.1%), from €236,992 to €287,064
- Taxes +€40,969
up €40,969 (+134.8%), from €30,401 to €71,370
- Financial income +€11,212
up €11,212 (+2336.8%), from €480 to €11,691
- Staff costs -€8,290
down €8,290 (-16.8%), from €49,279 to €40,989
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 | €393,756 | €460,312 | +€66,556 | +16.9% |
| Fixed assets | 21/28 | €91,790 | €74,971 | -€16,819 | -18.3% |
| Tangible fixed assets | 22/27 | €81,740 | €64,921 | -€16,819 | -20.6% |
| Land and buildings | 22 | €18,414 | €15,418 | -€2,996 | -16.3% |
| Plant, machinery and equipment | 23 | €15,968 | €10,314 | -€5,655 | -35.4% |
| Furniture and vehicles | 24 | €47,357 | €32,202 | -€15,156 | -32.0% |
| Other tangible fixed assets | 26 | - | €6,988 | +€6,988 | |
| Financial fixed assets | 28 | €10,050 | €10,050 | = | 0.0% |
| Current assets | 29/58 | €301,967 | €385,342 | +€83,375 | +27.6% |
| Amounts receivable within one year | 40/41 | €219,148 | €235,545 | +€16,396 | +7.5% |
| Trade receivables | 40 | - | €17,862 | +€17,862 | |
| Other amounts receivable | 41 | €219,148 | €217,683 | -€1,466 | -0.7% |
| Cash at bank and in hand | 54/58 | €67,750 | €111,446 | +€43,697 | +64.5% |
| Deferred charges and accrued income | 490/1 | €15,069 | €38,351 | +€23,282 | +154.5% |
| Total equity and liabilities | 10/49 | €393,756 | €460,312 | +€66,556 | +16.9% |
| Equity | 10/15 | €204,468 | €292,181 | +€87,713 | +42.9% |
| Contributions | 10/11 | €12,407 | €12,407 | = | 0.0% |
| Reserves | 13 | €190,447 | €275,447 | +€85,000 | +44.6% |
| Non-distributable reserves | 130/1 | €158,810 | €243,810 | +€85,000 | +53.5% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Other | 1319 | €156,810 | €241,810 | +€85,000 | +54.2% |
| Distributable reserves | 133 | €31,637 | €31,637 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,613 | €4,327 | +€2,713 | +168.2% |
| Amounts payable | 17/49 | €189,288 | €168,131 | -€21,157 | -11.2% |
| Amounts payable after more than one year | 17 | €30,184 | €9,872 | -€20,312 | -67.3% |
| Financial debts | 170/4 | €30,184 | €9,872 | -€20,312 | -67.3% |
| Amounts payable within one year | 42/48 | €156,711 | €155,959 | -€752 | -0.5% |
| Current portion of amounts payable after more than one year | 42 | €46,128 | €33,793 | -€12,336 | -26.7% |
| Trade debts | 44 | €5,971 | €32,979 | +€27,008 | +452.3% |
| Suppliers | 440/4 | €5,971 | €32,979 | +€27,008 | +452.3% |
| Taxes, remuneration and social security | 45 | €62,611 | €44,575 | -€18,037 | -28.8% |
| Taxes | 450/3 | €62,608 | €43,974 | -€18,634 | -29.8% |
| Remuneration and social security | 454/9 | €3 | €601 | +€597 | +17572.4% |
| Other amounts payable | 47/48 | €42,000 | €44,612 | +€2,612 | +6.2% |
| Accrued charges and deferred income | 492/3 | €2,393 | €2,300 | -€93 | -3.9% |
| Remuneration, social security and pensions | 62 | €49,279 | €40,989 | -€8,290 | -16.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,837 | €30,276 | +€1,439 | +5.0% |
| Other operating charges | 640/8 | €5,391 | €5,920 | +€528 | +9.8% |
| Gross operating margin | 9900 | €236,992 | €287,064 | +€50,072 | +21.1% |
| Operating profit (loss) | 9901 | €153,485 | €209,880 | +€56,395 | +36.7% |
| Financial income | 75/76B | €480 | €11,691 | +€11,212 | +2336.8% |
| Recurring financial income | 75 | €480 | €11,691 | +€11,212 | +2336.8% |
| Financial charges | 65/66B | €3,950 | €2,487 | -€1,463 | -37.0% |
| Recurring financial charges | 65 | €3,950 | €2,487 | -€1,463 | -37.0% |
| Profit (loss) for the period before taxes | 9903 | €150,015 | €219,084 | +€69,069 | +46.0% |
| Income taxes | 67/77 | €30,401 | €71,370 | +€40,969 | +134.8% |
| Profit (loss) for the period | 9904 | €119,613 | €147,713 | +€28,100 | +23.5% |
| Profit (loss) for the period to be appropriated | 9905 | €119,613 | €147,713 | +€28,100 | +23.5% |
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 4 October 2026 via checked.be.