MEDAVAN: 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.
MEDAVAN
Largest movements
- Current investments +€50,047
up €50,047 (+71.4%), from €70,130 to €120,177
- Tangible fixed assets -€41,225
down €41,225 (-6.8%), from €602,373 to €561,148
of which Land and buildings: -€22,956
- Reserves +€79,576
up €79,576 (+18.1%), from €439,220 to €518,797
- Debts after one year -€66,050
down €66,050 (-38.3%), from €172,380 to €106,330
of which Financial debts: -€66,050
No income-statement line moved by more than 1% of the activity.
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 | €795,040 | €802,017 | +€6,977 | +0.9% |
| Fixed assets | 21/28 | €602,373 | €561,148 | -€41,225 | -6.8% |
| Tangible fixed assets | 22/27 | €602,373 | €561,148 | -€41,225 | -6.8% |
| Land and buildings | 22 | €497,435 | €474,478 | -€22,956 | -4.6% |
| Plant, machinery and equipment | 23 | €23,525 | €22,801 | -€724 | -3.1% |
| Furniture and vehicles | 24 | €1,411 | €875 | -€536 | -38.0% |
| Leasing and similar rights | 25 | €37,271 | €26,156 | -€11,114 | -29.8% |
| Other tangible fixed assets | 26 | €42,731 | €36,837 | -€5,895 | -13.8% |
| Current assets | 29/58 | €192,667 | €240,869 | +€48,202 | +25.0% |
| Amounts receivable within one year | 40/41 | €337 | €526 | +€189 | +56.1% |
| Trade receivables | 40 | €337 | €526 | +€189 | +56.1% |
| Current investments | 50/53 | €70,130 | €120,177 | +€50,047 | +71.4% |
| Cash at bank and in hand | 54/58 | €5,314 | €932 | -€4,382 | -82.5% |
| Deferred charges and accrued income | 490/1 | €116,887 | €119,234 | +€2,348 | +2.0% |
| Total equity and liabilities | 10/49 | €795,040 | €802,017 | +€6,977 | +0.9% |
| Equity | 10/15 | €484,570 | €564,147 | +€79,576 | +16.4% |
| Contributions | 10/11 | €45,350 | €45,350 | = | 0.0% |
| Reserves | 13 | €439,220 | €518,797 | +€79,576 | +18.1% |
| Distributable reserves | 133 | €439,220 | €518,797 | +€79,576 | +18.1% |
| Amounts payable | 17/49 | €310,470 | €237,871 | -€72,599 | -23.4% |
| Amounts payable after more than one year | 17 | €172,380 | €106,330 | -€66,050 | -38.3% |
| Financial debts | 170/4 | €152,380 | €86,330 | -€66,050 | -43.3% |
| Other amounts payable | 178/9 | €20,000 | €20,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €135,809 | €129,238 | -€6,571 | -4.8% |
| Current portion of amounts payable after more than one year | 42 | €69,144 | €66,050 | -€3,094 | -4.5% |
| Trade debts | 44 | €1,542 | €966 | -€577 | -37.4% |
| Suppliers | 440/4 | €1,542 | €966 | -€577 | -37.4% |
| Taxes, remuneration and social security | 45 | €9,656 | €9,454 | -€202 | -2.1% |
| Taxes | 450/3 | €9,656 | €9,454 | -€202 | -2.1% |
| Other amounts payable | 47/48 | €55,466 | €52,768 | -€2,698 | -4.9% |
| Accrued charges and deferred income | 492/3 | €2,281 | €2,302 | +€22 | +0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,816 | €44,765 | +€949 | +2.2% |
| Other operating charges | 640/8 | €2,834 | €2,864 | +€30 | +1.0% |
| Gross operating margin | 9900 | €234,753 | €233,910 | -€843 | -0.4% |
| Operating profit (loss) | 9901 | €188,103 | €186,281 | -€1,821 | -1.0% |
| Financial income | 75/76B | €250 | €329 | +€79 | +31.8% |
| Recurring financial income | 75 | €250 | €329 | +€79 | +31.8% |
| Financial charges | 65/66B | €8,843 | €7,149 | -€1,695 | -19.2% |
| Recurring financial charges | 65 | €8,843 | €7,149 | -€1,695 | -19.2% |
| Profit (loss) for the period before taxes | 9903 | €179,509 | €179,462 | -€47 | 0.0% |
| Income taxes | 67/77 | €55,306 | €55,128 | -€178 | -0.3% |
| Profit (loss) for the period | 9904 | €124,203 | €124,334 | +€131 | +0.1% |
| Profit (loss) for the period to be appropriated | 9905 | €124,203 | €124,334 | +€131 | +0.1% |
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 3 October 2026 via checked.be.