Meducation@Work: 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.
Meducation@Work
Largest movements
- Tangible fixed assets +€97,292
up €97,292 (+27.5%), from €354,384 to €451,676
of which Furniture and vehicles: +€79,891
- Cash +€75,540
up €75,540 (+138%), from €54,884 to €130,423
mainly Net result for the year (+€690,795) and Depreciation (+€124,497)
- Receivables within one year +€35,415
up €35,415 (+50.4%), from €70,271 to €105,686
of which Trade receivables: +€25,983
- Reserves +€540,795
up €540,795 (+53.4%), from €1.0m to €1.6m
of which Distributable reserves: +€540,795
- Other debts -€173,631
down €173,631 (-39.4%), from €440,781 to €267,150
- Trade debts -€123,751
down €123,751 (-90.6%), from €136,615 to €12,863
- Debts after one year -€86,165
down €86,165 (-14.8%), from €581,496 to €495,332
- Tax, wage and social debts +€35,316
up €35,316 (+39.6%), from €89,281 to €124,596
- Gross operating margin +€417,263
up €417,263 (+165%), from €253,272 to €670,535
- Financial income -€150,197
down €150,197 (-30.0%), from €500,244 to €350,047
- Taxes +€96,987
up €96,987 (+405%), from €23,947 to €120,934
- Other operating charges +€41,226
up €41,226 (+450%), from €9,165 to €50,391
- Depreciation +€24,442
up €24,442 (+24.4%), from €100,055 to €124,497
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 | €2,413,777 | €2,620,946 | +€207,169 | +8.6% |
| Fixed assets | 21/28 | €2,284,966 | €2,380,956 | +€95,990 | +4.2% |
| Intangible fixed assets | 21 | €4,480 | €3,178 | -€1,303 | -29.1% |
| Tangible fixed assets | 22/27 | €354,384 | €451,676 | +€97,292 | +27.5% |
| Plant, machinery and equipment | 23 | €54,095 | €66,861 | +€12,766 | +23.6% |
| Furniture and vehicles | 24 | €296,521 | €376,412 | +€79,891 | +26.9% |
| Other tangible fixed assets | 26 | €3,768 | €8,403 | +€4,635 | +123% |
| Financial fixed assets | 28 | €1,926,102 | €1,926,102 | = | 0.0% |
| Current assets | 29/58 | €128,811 | €239,990 | +€111,180 | +86.3% |
| Amounts receivable within one year | 40/41 | €70,271 | €105,686 | +€35,415 | +50.4% |
| Trade receivables | 40 | €55,204 | €81,187 | +€25,983 | +47.1% |
| Other amounts receivable | 41 | €15,067 | €24,499 | +€9,432 | +62.6% |
| Current investments | 50/53 | €0 | €0 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €54,884 | €130,423 | +€75,540 | +138% |
| Deferred charges and accrued income | 490/1 | €3,655 | €3,880 | +€225 | +6.2% |
| Total equity and liabilities | 10/49 | €2,413,777 | €2,620,946 | +€207,169 | +8.6% |
| Equity | 10/15 | €1,038,903 | €1,579,698 | +€540,795 | +52.1% |
| Contributions | 10/11 | €26,500 | €26,500 | = | 0.0% |
| Reserves | 13 | €1,012,403 | €1,553,198 | +€540,795 | +53.4% |
| Non-distributable reserves | 130/1 | €262,650 | €262,650 | = | 0.0% |
| Reserves not available under the articles | 1311 | €262,650 | €262,650 | = | 0.0% |
| Distributable reserves | 133 | €749,753 | €1,290,548 | +€540,795 | +72.1% |
| Amounts payable | 17/49 | €1,374,874 | €1,041,248 | -€333,626 | -24.3% |
| Amounts payable after more than one year | 17 | €581,496 | €495,332 | -€86,165 | -14.8% |
| Financial debts | 170/4 | €581,496 | €495,332 | -€86,165 | -14.8% |
| Amounts payable within one year | 42/48 | €792,378 | €545,916 | -€246,461 | -31.1% |
| Current portion of amounts payable after more than one year | 42 | €125,702 | €141,307 | +€15,605 | +12.4% |
| Trade debts | 44 | €136,615 | €12,863 | -€123,751 | -90.6% |
| Suppliers | 440/4 | €136,615 | €12,863 | -€123,751 | -90.6% |
| Taxes, remuneration and social security | 45 | €89,281 | €124,596 | +€35,316 | +39.6% |
| Taxes | 450/3 | €89,281 | €124,596 | +€35,316 | +39.6% |
| Other amounts payable | 47/48 | €440,781 | €267,150 | -€173,631 | -39.4% |
| Accrued charges and deferred income | 492/3 | €1,000 | - | -€1,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €100,055 | €124,497 | +€24,442 | +24.4% |
| Other operating charges | 640/8 | €9,165 | €50,391 | +€41,226 | +450% |
| Gross operating margin | 9900 | €253,272 | €670,535 | +€417,263 | +165% |
| Operating profit (loss) | 9901 | €144,052 | €495,646 | +€351,595 | +244% |
| Financial income | 75/76B | €500,244 | €350,047 | -€150,197 | -30.0% |
| Recurring financial income | 75 | €500,244 | €350,047 | -€150,197 | -30.0% |
| Financial charges | 65/66B | €55,705 | €33,964 | -€21,741 | -39.0% |
| Recurring financial charges | 65 | €55,705 | €33,964 | -€21,741 | -39.0% |
| Profit (loss) for the period before taxes | 9903 | €588,590 | €811,729 | +€223,139 | +37.9% |
| Income taxes | 67/77 | €23,947 | €120,934 | +€96,987 | +405% |
| Profit (loss) for the period | 9904 | €564,643 | €690,795 | +€126,152 | +22.3% |
| Profit (loss) for the period to be appropriated | 9905 | €564,643 | €690,795 | +€126,152 | +22.3% |
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 25 October 2026 via checked.be.