MEDUNO: 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.
MEDUNO
Largest movements
- Receivables within one year -€28,160
down €28,160 (-34.1%), from €82,563 to €54,403
of which Trade receivables: -€27,207
- Tangible fixed assets -€23,460
down €23,460 (-61.4%), from €38,228 to €14,768
of which Furniture and vehicles: -€22,781
- Cash +€6,100
up €6,100 (+199%), from €3,059 to €9,159
mainly Receivables within one year (+€28,160) and Short-term financial debts (+€18,485)
- Other debts -€21,400
down €21,400 (-89.2%), from €24,000 to €2,600
- Short-term financial debts +€18,485
new in 2025: €18,485
- Tax, wage and social debts -€11,193
down €11,193 (-29.3%), from €38,147 to €26,954
of which Taxes: -€11,037
- Debts after one year -€11,059
down €11,059 (-43.1%), from €25,675 to €14,616
- Profit (loss) carried forward -€10,622
new in 2025: -€10,622
- Gross operating margin -€27,247
down €27,247 (-26.8%), from €101,481 to €74,235
- Staff costs -€9,472
down €9,472 (-15.0%), from €63,273 to €53,801
- Taxes -€5,337
down €5,337 (-51.6%), from €10,334 to €4,997
- Other operating charges +€2,104
up €2,104 (+13.1%), from €16,054 to €18,158
- Financial charges +€1,125
up €1,125 (+42.1%), from €2,670 to €3,795
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 | €126,498 | €78,886 | -€47,612 | -37.6% |
| Fixed assets | 21/28 | €39,341 | €15,179 | -€24,162 | -61.4% |
| Intangible fixed assets | 21 | €302 | - | -€302 | |
| Tangible fixed assets | 22/27 | €38,228 | €14,768 | -€23,460 | -61.4% |
| Plant, machinery and equipment | 23 | €3,831 | €3,152 | -€679 | -17.7% |
| Furniture and vehicles | 24 | €34,397 | €11,616 | -€22,781 | -66.2% |
| Financial fixed assets | 28 | €811 | €411 | -€400 | -49.3% |
| Current assets | 29/58 | €87,157 | €63,707 | -€23,450 | -26.9% |
| Stocks and contracts in progress | 3 | €952 | €145 | -€808 | -84.8% |
| Stocks | 30/36 | €952 | €145 | -€808 | -84.8% |
| Amounts receivable within one year | 40/41 | €82,563 | €54,403 | -€28,160 | -34.1% |
| Trade receivables | 40 | €36,631 | €9,423 | -€27,207 | -74.3% |
| Other amounts receivable | 41 | €45,933 | €44,980 | -€952 | -2.1% |
| Cash at bank and in hand | 54/58 | €3,059 | €9,159 | +€6,100 | +199% |
| Deferred charges and accrued income | 490/1 | €583 | - | -€583 | |
| Total equity and liabilities | 10/49 | €126,498 | €78,886 | -€47,612 | -37.6% |
| Equity | 10/15 | €15,699 | €5,077 | -€10,622 | -67.7% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Reserves | 13 | €15,698 | €15,698 | = | 0.0% |
| Distributable reserves | 133 | €15,698 | €15,698 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€10,622 | -€10,622 | |
| Amounts payable | 17/49 | €110,799 | €73,809 | -€36,990 | -33.4% |
| Amounts payable after more than one year | 17 | €25,675 | €14,616 | -€11,059 | -43.1% |
| Financial debts | 170/4 | €25,675 | €14,616 | -€11,059 | -43.1% |
| Amounts payable within one year | 42/48 | €85,124 | €59,194 | -€25,931 | -30.5% |
| Current portion of amounts payable after more than one year | 42 | €12,115 | €10,598 | -€1,517 | -12.5% |
| Financial debts | 43 | - | €18,485 | +€18,485 | |
| Credit institutions | 430/8 | - | €18,485 | +€18,485 | |
| Trade debts | 44 | €10,862 | €557 | -€10,306 | -94.9% |
| Suppliers | 440/4 | €10,862 | €557 | -€10,306 | -94.9% |
| Taxes, remuneration and social security | 45 | €38,147 | €26,954 | -€11,193 | -29.3% |
| Taxes | 450/3 | €28,763 | €17,726 | -€11,037 | -38.4% |
| Remuneration and social security | 454/9 | €9,384 | €9,228 | -€156 | -1.7% |
| Other amounts payable | 47/48 | €24,000 | €2,600 | -€21,400 | -89.2% |
| Remuneration, social security and pensions | 62 | €63,273 | €53,801 | -€9,472 | -15.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,702 | €6,504 | +€802 | +14.1% |
| Other operating charges | 640/8 | €16,054 | €18,158 | +€2,104 | +13.1% |
| Gross operating margin | 9900 | €101,481 | €74,235 | -€27,247 | -26.8% |
| Operating profit (loss) | 9901 | €16,452 | -€4,229 | -€20,680 | |
| Financial income | 75/76B | €2,814 | €2,399 | -€415 | -14.8% |
| Recurring financial income | 75 | €2,814 | €2,399 | -€415 | -14.8% |
| Financial charges | 65/66B | €2,670 | €3,795 | +€1,125 | +42.1% |
| Recurring financial charges | 65 | €2,670 | €3,795 | +€1,125 | +42.1% |
| Profit (loss) for the period before taxes | 9903 | €16,596 | -€5,625 | -€22,221 | |
| Income taxes | 67/77 | €10,334 | €4,997 | -€5,337 | -51.6% |
| Profit (loss) for the period | 9904 | €6,262 | -€10,622 | -€16,884 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,262 | -€10,622 | -€16,884 |
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 13 October 2026 via checked.be.