CB MED: 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.
CB MED
Largest movements
- Tangible fixed assets +€298,339
up €298,339 (+88.3%), from €337,692 to €636,031
of which Assets under construction and advance payments: +€316,611
- Receivables within one year -€80,524
down €80,524 (-70.4%), from €114,455 to €33,931
of which Other amounts receivable: -€84,124
- Receivables after one year -€56,026
no longer reported in 2025 (was €56,026)
- Cash +€10,461
up €10,461 (+15.0%), from €69,589 to €80,051
mainly Other debts (+€238,611) and Net result for the year (+€85,613)
- Other debts +€238,611
up €238,611 (+27,778%), from €859 to €239,470
- Debts after one year -€35,000
down €35,000 (-70.6%), from €49,583 to €14,583
- Reserves -€32,686
down €32,686 (-5.7%), from €573,415 to €540,729
of which Distributable reserves: -€32,686
- Other operating charges +€38,854
up €38,854 (+1,135%), from €3,424 to €42,278
- Gross operating margin +€33,273
up €33,273 (+11.0%), from €302,758 to €336,031
- Staff costs +€13,244
up €13,244 (+10.5%), from €126,447 to €139,691
- Taxes -€6,338
down €6,338 (-14.6%), from €43,404 to €37,067
- Financial income -€5,472
down €5,472 (-87.5%), from €6,252 to €781
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 | €732,976 | €912,675 | +€179,699 | +24.5% |
| Fixed assets | 21/28 | €341,943 | €640,231 | +€298,289 | +87.2% |
| Intangible fixed assets | 21 | €50 | - | -€50 | |
| Tangible fixed assets | 22/27 | €337,692 | €636,031 | +€298,339 | +88.3% |
| Land and buildings | 22 | €302,704 | €284,696 | -€18,008 | -5.9% |
| Plant, machinery and equipment | 23 | €12,324 | €16,915 | +€4,591 | +37.3% |
| Furniture and vehicles | 24 | €9,139 | €4,284 | -€4,855 | -53.1% |
| Assets under construction and advance payments | 27 | €13,525 | €330,136 | +€316,611 | +2,341% |
| Financial fixed assets | 28 | €4,200 | €4,200 | = | 0.0% |
| Current assets | 29/58 | €391,033 | €272,444 | -€118,589 | -30.3% |
| Amounts receivable after more than one year | 29 | €56,026 | - | -€56,026 | |
| Other amounts receivable | 291 | €56,026 | - | -€56,026 | |
| Amounts receivable within one year | 40/41 | €114,455 | €33,931 | -€80,524 | -70.4% |
| Trade receivables | 40 | €1,400 | €5,000 | +€3,600 | +257% |
| Other amounts receivable | 41 | €113,055 | €28,931 | -€84,124 | -74.4% |
| Current investments | 50/53 | €93,254 | €95,507 | +€2,252 | +2.4% |
| Cash at bank and in hand | 54/58 | €69,589 | €80,051 | +€10,461 | +15.0% |
| Deferred charges and accrued income | 490/1 | €57,708 | €62,955 | +€5,247 | +9.1% |
| Total equity and liabilities | 10/49 | €732,976 | €912,675 | +€179,699 | +24.5% |
| Equity | 10/15 | €583,078 | €549,533 | -€33,545 | -5.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €573,415 | €540,729 | -€32,686 | -5.7% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €554,665 | €521,979 | -€32,686 | -5.9% |
| Profit (loss) carried forward | 14 | €3,463 | €2,604 | -€859 | -24.8% |
| Amounts payable | 17/49 | €149,898 | €363,142 | +€213,244 | +142% |
| Amounts payable after more than one year | 17 | €49,583 | €14,583 | -€35,000 | -70.6% |
| Financial debts | 170/4 | €49,583 | €14,583 | -€35,000 | -70.6% |
| Amounts payable within one year | 42/48 | €98,865 | €347,109 | +€248,244 | +251% |
| Current portion of amounts payable after more than one year | 42 | €43,019 | €43,076 | +€57 | +0.1% |
| Trade debts | 44 | €19,468 | €20,386 | +€919 | +4.7% |
| Suppliers | 440/4 | €19,468 | €20,386 | +€919 | +4.7% |
| Taxes, remuneration and social security | 45 | €35,519 | €44,176 | +€8,657 | +24.4% |
| Taxes | 450/3 | €17,540 | €21,275 | +€3,736 | +21.3% |
| Remuneration and social security | 454/9 | €17,980 | €22,901 | +€4,921 | +27.4% |
| Other amounts payable | 47/48 | €859 | €239,470 | +€238,611 | +27,778% |
| Accrued charges and deferred income | 492/3 | €1,450 | €1,450 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €126,447 | €139,691 | +€13,244 | +10.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,588 | €25,688 | -€1,900 | -6.9% |
| Other operating charges | 640/8 | €3,424 | €42,278 | +€38,854 | +1,135% |
| Gross operating margin | 9900 | €302,758 | €336,031 | +€33,273 | +11.0% |
| Operating profit (loss) | 9901 | €145,298 | €128,373 | -€16,924 | -11.6% |
| Financial income | 75/76B | €6,252 | €781 | -€5,472 | -87.5% |
| Recurring financial income | 75 | €6,252 | €781 | -€5,472 | -87.5% |
| Financial charges | 65/66B | €8,499 | €6,474 | -€2,025 | -23.8% |
| Recurring financial charges | 65 | €8,499 | €6,474 | -€2,025 | -23.8% |
| Profit (loss) for the period before taxes | 9903 | €143,051 | €122,680 | -€20,371 | -14.2% |
| Income taxes | 67/77 | €43,404 | €37,067 | -€6,338 | -14.6% |
| Profit (loss) for the period | 9904 | €99,646 | €85,613 | -€14,034 | -14.1% |
| Profit (loss) for the period to be appropriated | 9905 | €99,646 | €85,613 | -€14,034 | -14.1% |
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 18 October 2026 via checked.be.