MEDRG: 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.
MEDRG
Largest movements
- Receivables after one year +€50,000
new in 2025: €50,000
- Cash -€37,021
down €37,021 (-84.8%), from €43,660 to €6,639
mainly Contributions, distributions and other (-€78,000) and Receivables after one year (-€50,000)
- Receivables within one year +€9,598
up €9,598 (+20.0%), from €47,963 to €57,562
of which Trade receivables: +€17,085
- Tangible fixed assets -€2,934
down €2,934 (-2.3%), from €125,406 to €122,472
of which Land and buildings: -€2,681
- Tax, wage and social debts +€21,000
new in 2025: €21,000
- Debts after one year -€11,152
down €11,152 (-9.4%), from €119,232 to €108,080
- Other debts +€10,981
up €10,981 (+14.8%), from €74,000 to €84,981
- Gross operating margin +€26,620
up €26,620 (+23.4%), from €113,537 to €140,157
- Taxes +€17,687
up €17,687 (+92.1%), from €19,201 to €36,888
- Other operating charges +€4,203
up €4,203 (+2419.9%), from €174 to €4,377
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 | €226,551 | €245,147 | +€18,596 | +8.2% |
| Fixed assets | 21/28 | €133,406 | €130,472 | -€2,934 | -2.2% |
| Tangible fixed assets | 22/27 | €125,406 | €122,472 | -€2,934 | -2.3% |
| Land and buildings | 22 | €120,154 | €117,474 | -€2,681 | -2.2% |
| Furniture and vehicles | 24 | €5,252 | €4,999 | -€253 | -4.8% |
| Financial fixed assets | 28 | €8,000 | €8,000 | = | 0.0% |
| Current assets | 29/58 | €93,145 | €114,675 | +€21,530 | +23.1% |
| Amounts receivable after more than one year | 29 | - | €50,000 | +€50,000 | |
| Other amounts receivable | 291 | - | €50,000 | +€50,000 | |
| Amounts receivable within one year | 40/41 | €47,963 | €57,562 | +€9,598 | +20.0% |
| Trade receivables | 40 | €25,477 | €42,562 | +€17,085 | +67.1% |
| Other amounts receivable | 41 | €22,486 | €15,000 | -€7,486 | -33.3% |
| Cash at bank and in hand | 54/58 | €43,660 | €6,639 | -€37,021 | -84.8% |
| Deferred charges and accrued income | 490/1 | €1,522 | €474 | -€1,048 | -68.8% |
| Total equity and liabilities | 10/49 | €226,551 | €245,147 | +€18,596 | +8.2% |
| Equity | 10/15 | €21,276 | €20,727 | -€549 | -2.6% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Profit (loss) carried forward | 14 | €816 | €267 | -€549 | -67.3% |
| Amounts payable | 17/49 | €205,276 | €224,420 | +€19,145 | +9.3% |
| Amounts payable after more than one year | 17 | €119,232 | €108,080 | -€11,152 | -9.4% |
| Financial debts | 170/4 | €119,232 | €108,080 | -€11,152 | -9.4% |
| Amounts payable within one year | 42/48 | €86,044 | €116,340 | +€30,296 | +35.2% |
| Current portion of amounts payable after more than one year | 42 | €9,384 | €9,504 | +€120 | +1.3% |
| Financial debts | 43 | €1,545 | - | -€1,545 | |
| Credit institutions | 430/8 | €1,545 | - | -€1,545 | |
| Trade debts | 44 | €1,114 | €856 | -€259 | -23.2% |
| Suppliers | 440/4 | €1,114 | €856 | -€259 | -23.2% |
| Taxes, remuneration and social security | 45 | - | €21,000 | +€21,000 | |
| Taxes | 450/3 | - | €21,000 | +€21,000 | |
| Other amounts payable | 47/48 | €74,000 | €84,981 | +€10,981 | +14.8% |
| Remuneration, social security and pensions | 62 | €1,568 | €1,730 | +€162 | +10.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,971 | €18,327 | +€356 | +2.0% |
| Other operating charges | 640/8 | €174 | €4,377 | +€4,203 | +2419.9% |
| Gross operating margin | 9900 | €113,537 | €140,157 | +€26,620 | +23.4% |
| Operating profit (loss) | 9901 | €93,824 | €115,723 | +€21,898 | +23.3% |
| Financial charges | 65/66B | €1,446 | €1,384 | -€62 | -4.3% |
| Recurring financial charges | 65 | €1,446 | €1,384 | -€62 | -4.3% |
| Profit (loss) for the period before taxes | 9903 | €92,379 | €114,339 | +€21,960 | +23.8% |
| Income taxes | 67/77 | €19,201 | €36,888 | +€17,687 | +92.1% |
| Profit (loss) for the period | 9904 | €73,178 | €77,451 | +€4,273 | +5.8% |
| Profit (loss) for the period to be appropriated | 9905 | €73,178 | €77,451 | +€4,273 | +5.8% |
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.