MEDOR: 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.
MEDOR
Largest movements
- Cash +€60,517
up €60,517 (+39.0%), from €155,066 to €215,584
mainly Debts after one year (+€60,000) and Net result for the year (+€23,143)
- Intangible fixed assets +€26,846
up €26,846 (+1,154%), from €2,326 to €29,172
- Tangible fixed assets -€10,264
down €10,264 (-93.5%), from €10,975 to €712
of which Assets under construction and advance payments: -€10,975
- Receivables within one year +€6,082
up €6,082 (+3.8%), from €160,699 to €166,781
of which Trade receivables: +€10,507
- Debts after one year +€60,000
new in 2025: €60,000
- Accrued charges and deferred income -€25,670
down €25,670 (-18.4%), from €139,388 to €113,717
- Profit (loss) carried forward +€23,159
up €23,159 (+6.4%), from -€362,173 to -€339,013
- Contributions +€7,580
up €7,580 (+1.7%), from €447,320 to €454,900
- Provisions +€7,174
new in 2025: €7,174
- Gross operating margin +€40,584
up €40,584 (+28.4%), from €142,694 to €183,279
- Turnover +€28,818
up €28,818 (+7.1%), from €407,694 to €436,513
- Purchases and services +€7,844
up €7,844 (+2.2%), from €350,901 to €358,745
- Provisions +€7,174
new in 2025: €7,174
- Staff costs +€5,349
up €5,349 (+3.9%), from €137,213 to €142,561
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 | €356,757 | €440,664 | +€83,907 | +23.5% |
| Fixed assets | 21/28 | €13,991 | €32,074 | +€18,083 | +129% |
| Intangible fixed assets | 21 | €2,326 | €29,172 | +€26,846 | +1,154% |
| Tangible fixed assets | 22/27 | €10,975 | €712 | -€10,264 | -93.5% |
| Furniture and vehicles | 24 | - | €712 | +€712 | |
| Assets under construction and advance payments | 27 | €10,975 | €0 | -€10,975 | -100% |
| Financial fixed assets | 28 | €690 | €2,190 | +€1,500 | +217% |
| Current assets | 29/58 | €342,765 | €408,590 | +€65,824 | +19.2% |
| Stocks and contracts in progress | 3 | €26,882 | €24,380 | -€2,503 | -9.3% |
| Stocks | 30/36 | €26,882 | €24,380 | -€2,503 | -9.3% |
| Amounts receivable within one year | 40/41 | €160,699 | €166,781 | +€6,082 | +3.8% |
| Trade receivables | 40 | €129,866 | €140,373 | +€10,507 | +8.1% |
| Other amounts receivable | 41 | €30,833 | €26,408 | -€4,425 | -14.4% |
| Cash at bank and in hand | 54/58 | €155,066 | €215,584 | +€60,517 | +39.0% |
| Deferred charges and accrued income | 490/1 | €117 | €1,845 | +€1,727 | +1,473% |
| Total equity and liabilities | 10/49 | €356,757 | €440,664 | +€83,907 | +23.5% |
| Equity | 10/15 | €104,521 | €135,261 | +€30,739 | +29.4% |
| Contributions | 10/11 | €447,320 | €454,900 | +€7,580 | +1.7% |
| Reserves | 13 | €19,374 | €19,374 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €624 | €624 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€362,173 | -€339,013 | +€23,159 | +6.4% |
| Provisions and deferred taxes | 16 | - | €7,174 | +€7,174 | |
| Provisions for liabilities and charges | 160/5 | - | €7,174 | +€7,174 | |
| Other liabilities and charges | 164/5 | - | €7,174 | +€7,174 | |
| Amounts payable | 17/49 | €252,236 | €298,229 | +€45,993 | +18.2% |
| Amounts payable after more than one year | 17 | - | €60,000 | +€60,000 | |
| Financial debts | 170/4 | - | €60,000 | +€60,000 | |
| Amounts payable within one year | 42/48 | €112,848 | €124,511 | +€11,663 | +10.3% |
| Trade debts | 44 | €82,409 | €89,206 | +€6,797 | +8.2% |
| Suppliers | 440/4 | €82,409 | €89,206 | +€6,797 | +8.2% |
| Taxes, remuneration and social security | 45 | €30,396 | €35,142 | +€4,746 | +15.6% |
| Taxes | 450/3 | €3,509 | €4,344 | +€835 | +23.8% |
| Remuneration and social security | 454/9 | €26,887 | €30,798 | +€3,912 | +14.5% |
| Other amounts payable | 47/48 | €43 | €163 | +€120 | +279% |
| Accrued charges and deferred income | 492/3 | €139,388 | €113,717 | -€25,670 | -18.4% |
| Turnover | 70 | €407,694 | €436,513 | +€28,818 | +7.1% |
| Non-recurring operating income | 76A | - | €13,470 | +€13,470 | |
| Goods, raw materials, services and sundry goods | 60/61 | €350,901 | €358,745 | +€7,844 | +2.2% |
| Remuneration, social security and pensions | 62 | €137,213 | €142,561 | +€5,349 | +3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €775 | €4,254 | +€3,478 | +449% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €7,174 | +€7,174 | |
| Other operating charges | 640/8 | €2,954 | €5,937 | +€2,983 | +101% |
| Gross operating margin | 9900 | €142,694 | €183,279 | +€40,584 | +28.4% |
| Operating profit (loss) | 9901 | €1,752 | €23,352 | +€21,600 | +1,233% |
| Financial income | 75/76B | €203 | €201 | -€2 | -0.9% |
| Recurring financial income | 75 | €203 | €201 | -€2 | -0.9% |
| Financial charges | 65/66B | €223 | €465 | +€242 | +108% |
| Recurring financial charges | 65 | €223 | €465 | +€242 | +108% |
| Profit (loss) for the period before taxes | 9903 | €1,732 | €23,088 | +€21,356 | +1,233% |
| Income taxes | 67/77 | €54 | -€54 | -€109 | |
| Profit (loss) for the period | 9904 | €1,678 | €23,143 | +€21,465 | +1,279% |
| Profit (loss) for the period to be appropriated | 9905 | €1,678 | €23,143 | +€21,465 | +1,279% |
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 16 October 2026 via checked.be.