It can mean both. Beardies can have reduced fat pads because of improper nutrition, illness, and parturition (egg production). If you have ruled out the first and last condition, you need to take your beardie to a reptile vet for an exam. I take my beardie crowd to a reptile vet once a year for a wellness exam and then whenever a problem or question arises. Good luck. It is time and money well spent.
Tatty