MEDAP: 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.
MEDAP
Largest movements
- Tangible fixed assets -€13,969
down €13,969 (-6.5%), from €215,696 to €201,727
of which Land and buildings: -€18,868
- Cash -€2,594
down €2,594 (-74.7%), from €3,475 to €880
mainly Investment in fixed assets (net) (-€14,367) and Debts after one year (-€14,183)
- Receivables within one year -€2,389
down €2,389 (-62.0%), from €3,854 to €1,465
of which Trade receivables: -€1,473
- Debts after one year -€14,183
down €14,183 (-22.6%), from €62,664 to €48,482
- Gross operating margin -€3,556
down €3,556 (-9.7%), from €36,528 to €32,972
- Depreciation -€1,128
down €1,128 (-3.8%), from €29,464 to €28,336
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 | €223,827 | €204,892 | -€18,936 | -8.5% |
| Fixed assets | 21/28 | €215,696 | €201,727 | -€13,969 | -6.5% |
| Tangible fixed assets | 22/27 | €215,696 | €201,727 | -€13,969 | -6.5% |
| Land and buildings | 22 | €159,667 | €140,799 | -€18,868 | -11.8% |
| Furniture and vehicles | 24 | €56,029 | €60,928 | +€4,900 | +8.7% |
| Current assets | 29/58 | €8,132 | €3,165 | -€4,967 | -61.1% |
| Amounts receivable within one year | 40/41 | €3,854 | €1,465 | -€2,389 | -62.0% |
| Trade receivables | 40 | €1,473 | €0 | -€1,473 | -100.0% |
| Other amounts receivable | 41 | €2,381 | €1,465 | -€916 | -38.5% |
| Cash at bank and in hand | 54/58 | €3,475 | €880 | -€2,594 | -74.7% |
| Deferred charges and accrued income | 490/1 | €803 | €820 | +€16 | +2.0% |
| Total equity and liabilities | 10/49 | €223,827 | €204,892 | -€18,936 | -8.5% |
| Equity | 10/15 | €95,546 | €93,869 | -€1,677 | -1.8% |
| Contributions | 10/11 | €114,000 | €114,000 | = | 0.0% |
| Capital | 10 | €114,000 | €114,000 | = | 0.0% |
| Issued capital | 100 | €114,000 | €114,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€18,454 | -€20,131 | -€1,677 | -9.1% |
| Amounts payable | 17/49 | €128,281 | €111,023 | -€17,258 | -13.5% |
| Amounts payable after more than one year | 17 | €62,664 | €48,482 | -€14,183 | -22.6% |
| Financial debts | 170/4 | €62,664 | €48,482 | -€14,183 | -22.6% |
| Amounts payable within one year | 42/48 | €64,026 | €60,875 | -€3,150 | -4.9% |
| Current portion of amounts payable after more than one year | 42 | €14,019 | €14,183 | +€163 | +1.2% |
| Trade debts | 44 | €1,979 | €308 | -€1,671 | -84.5% |
| Suppliers | 440/4 | €1,979 | €308 | -€1,671 | -84.5% |
| Other amounts payable | 47/48 | €48,027 | €46,385 | -€1,642 | -3.4% |
| Accrued charges and deferred income | 492/3 | €1,591 | €1,666 | +€75 | +4.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,464 | €28,336 | -€1,128 | -3.8% |
| Other operating charges | 640/8 | €5,474 | €5,352 | -€122 | -2.2% |
| Gross operating margin | 9900 | €36,528 | €32,972 | -€3,556 | -9.7% |
| Operating profit (loss) | 9901 | €1,590 | -€716 | -€2,306 | |
| Financial income | 75/76B | €85 | €80 | -€5 | -5.9% |
| Recurring financial income | 75 | €85 | €80 | -€5 | -5.9% |
| Financial charges | 65/66B | €1,118 | €1,041 | -€77 | -6.9% |
| Recurring financial charges | 65 | €1,118 | €1,041 | -€77 | -6.9% |
| Profit (loss) for the period before taxes | 9903 | €556 | -€1,677 | -€2,234 | |
| Income taxes | 67/77 | €0 | €0 | -€0 | -23.1% |
| Profit (loss) for the period | 9904 | €556 | -€1,677 | -€2,234 | |
| Profit (loss) for the period to be appropriated | 9905 | €556 | -€1,677 | -€2,234 |
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 30 September 2026 via checked.be.