MEDORL: 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.
MEDORL
Largest movements
- Financial fixed assets -€315,536
down €315,536 (-100.0%), from €315,636 to €100
- Current investments +€310,910
new in 2022: €310,910
- Cash +€119,081
up €119,081 (+123.2%), from €96,659 to €215,740
mainly Investment in fixed assets (net) (+€245,362) and Debts after one year (+€160,725)
- Tangible fixed assets -€71,193
down €71,193 (-10.3%), from €688,280 to €617,087
of which Land and buildings: -€67,372
- Deferred charges and accrued income -€24,296
down €24,296 (-12.9%), from €188,352 to €164,056
- Debts after one year +€160,725
up €160,725 (+96.3%), from €166,915 to €327,640
- Profit (loss) carried forward -€139,660
down €139,660 (-24.5%), from €570,227 to €430,567
- Current portion of long-term debt -€52,944
down €52,944 (-55.1%), from €96,006 to €43,062
- Other debts +€39,616
up €39,616 (+13.7%), from €289,867 to €329,483
- Gross operating margin -€301,197
down €301,197 (-81.0%), from €371,741 to €70,544
- Purchases and services +€216,598
up €216,598 (+65.7%), from €329,817 to €546,415
- Turnover -€84,599
down €84,599 (-12.1%), from €701,558 to €616,959
- Taxes -€29,004
down €29,004 (-61.1%), from €47,446 to €18,442
- Staff costs +€14,167
up €14,167 (+504.9%), from €2,806 to €16,973
From the 2021 result to the 2022 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 2021 and 2022 balance sheets and the 2022 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2021 | 2022 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,288,928 | €1,307,894 | +€18,966 | +1.5% |
| Fixed assets | 21/28 | €1,003,917 | €617,188 | -€386,729 | -38.5% |
| Intangible fixed assets | 21 | €1 | €1 | -€0 | -2.0% |
| Tangible fixed assets | 22/27 | €688,280 | €617,087 | -€71,193 | -10.3% |
| Land and buildings | 22 | €635,054 | €567,682 | -€67,372 | -10.6% |
| Plant, machinery and equipment | 23 | €38,091 | €27,623 | -€10,468 | -27.5% |
| Furniture and vehicles | 24 | €15,135 | €21,782 | +€6,647 | +43.9% |
| Financial fixed assets | 28 | €315,636 | €100 | -€315,536 | -100.0% |
| Current assets | 29/58 | €285,011 | €690,706 | +€405,695 | +142.3% |
| Current investments | 50/53 | - | €310,910 | +€310,910 | |
| Cash at bank and in hand | 54/58 | €96,659 | €215,740 | +€119,081 | +123.2% |
| Deferred charges and accrued income | 490/1 | €188,352 | €164,056 | -€24,296 | -12.9% |
| Total equity and liabilities | 10/49 | €1,288,928 | €1,307,894 | +€18,966 | +1.5% |
| Equity | 10/15 | €700,773 | €561,113 | -€139,660 | -19.9% |
| Contributions | 10/11 | €6,199 | €6,200 | +€1 | 0.0% |
| Reserves | 13 | €124,347 | €124,347 | -€0 | 0.0% |
| Tax-exempt reserves | 132 | €124,347 | €124,347 | -€0 | 0.0% |
| Profit (loss) carried forward | 14 | €570,227 | €430,567 | -€139,660 | -24.5% |
| Amounts payable | 17/49 | €588,155 | €746,780 | +€158,625 | +27.0% |
| Amounts payable after more than one year | 17 | €166,915 | €327,640 | +€160,725 | +96.3% |
| Financial debts | 170/4 | €166,915 | €327,640 | +€160,725 | +96.3% |
| Amounts payable within one year | 42/48 | €421,240 | €419,141 | -€2,099 | -0.5% |
| Current portion of amounts payable after more than one year | 42 | €96,006 | €43,062 | -€52,944 | -55.1% |
| Financial debts | 43 | €1,472 | €1,472 | = | 0.0% |
| Other loans | 439 | €1,472 | €1,472 | = | 0.0% |
| Trade debts | 44 | €2,187 | €9,081 | +€6,894 | +315.2% |
| Suppliers | 440/4 | €2,187 | €9,081 | +€6,894 | +315.2% |
| Taxes, remuneration and social security | 45 | €31,708 | €36,043 | +€4,335 | +13.7% |
| Taxes | 450/3 | €31,708 | €36,043 | +€4,335 | +13.7% |
| Other amounts payable | 47/48 | €289,867 | €329,483 | +€39,616 | +13.7% |
| Turnover | 70 | €701,558 | €616,959 | -€84,599 | -12.1% |
| Goods, raw materials, services and sundry goods | 60/61 | €329,817 | €546,415 | +€216,598 | +65.7% |
| Remuneration, social security and pensions | 62 | €2,806 | €16,973 | +€14,167 | +504.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €142,127 | €141,367 | -€760 | -0.5% |
| Other operating charges | 640/8 | €6,440 | €9,733 | +€3,293 | +51.1% |
| Gross operating margin | 9900 | €371,741 | €70,544 | -€301,197 | -81.0% |
| Operating profit (loss) | 9901 | €220,368 | -€97,529 | -€317,897 | |
| Financial income | 75/76B | €2,983 | €2,481 | -€502 | -16.8% |
| Recurring financial income | 75 | €2,983 | €2,481 | -€502 | -16.8% |
| Financial charges | 65/66B | €27,853 | €23,519 | -€4,334 | -15.6% |
| Recurring financial charges | 65 | €27,853 | €23,519 | -€4,334 | -15.6% |
| Profit (loss) for the period before taxes | 9903 | €195,498 | -€118,567 | -€314,065 | |
| Transfer to deferred taxes | 680 | - | €240 | +€240 | |
| Income taxes | 67/77 | €47,446 | €18,442 | -€29,004 | -61.1% |
| Profit (loss) for the period | 9904 | €148,052 | -€137,248 | -€285,300 | |
| Profit (loss) for the period to be appropriated | 9905 | €148,052 | -€137,248 | -€285,300 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2021 and 31 December 2022. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.