MEDEVAL: 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.
MEDEVAL
Largest movements
- Current investments +€72,751
up €72,751 (+20.1%), from €361,436 to €434,187
- Receivables within one year +€51,376
up €51,376 (+15.8%), from €325,228 to €376,604
of which Trade receivables: +€28,665
- Cash -€22,370
down €22,370 (-8.7%), from €255,824 to €233,454
mainly Current investments (-€72,751) and Contributions, distributions and other (-€51,772)
- Tangible fixed assets -€13,748
down €13,748 (-20.1%), from €68,290 to €54,542
of which Furniture and vehicles: -€12,271
- Reserves +€75,577
up €75,577 (+10.2%), from €743,917 to €819,494
- Other debts +€37,788
up €37,788 (+66.4%), from €56,877 to €94,664
- Current portion of long-term debt -€25,576
no longer reported in 2025 (was €25,576)
- Financial income +€15,830
up €15,830 (+216.0%), from €7,328 to €23,157
- Other operating charges -€13,615
down €13,615 (-76.7%), from €17,761 to €4,145
- Taxes +€10,092
up €10,092 (+20.9%), from €48,368 to €58,460
- Gross operating margin -€4,615
down €4,615 (-2.3%), from €203,857 to €199,242
- Depreciation +€3,968
up €3,968 (+14.8%), from €26,884 to €30,852
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 | €1,026,411 | €1,115,533 | +€89,122 | +8.7% |
| Fixed assets | 21/28 | €69,665 | €55,917 | -€13,748 | -19.7% |
| Tangible fixed assets | 22/27 | €68,290 | €54,542 | -€13,748 | -20.1% |
| Plant, machinery and equipment | 23 | €6,527 | €5,049 | -€1,477 | -22.6% |
| Furniture and vehicles | 24 | €61,763 | €49,493 | -€12,271 | -19.9% |
| Financial fixed assets | 28 | €1,375 | €1,375 | = | 0.0% |
| Current assets | 29/58 | €956,746 | €1,059,616 | +€102,870 | +10.8% |
| Amounts receivable within one year | 40/41 | €325,228 | €376,604 | +€51,376 | +15.8% |
| Trade receivables | 40 | €207,025 | €235,690 | +€28,665 | +13.8% |
| Other amounts receivable | 41 | €118,204 | €140,915 | +€22,711 | +19.2% |
| Current investments | 50/53 | €361,436 | €434,187 | +€72,751 | +20.1% |
| Cash at bank and in hand | 54/58 | €255,824 | €233,454 | -€22,370 | -8.7% |
| Deferred charges and accrued income | 490/1 | €14,258 | €15,371 | +€1,113 | +7.8% |
| Total equity and liabilities | 10/49 | €1,026,411 | €1,115,533 | +€89,122 | +8.7% |
| Equity | 10/15 | €835,538 | €911,115 | +€75,577 | +9.0% |
| Contributions | 10/11 | €35,734 | €35,734 | = | 0.0% |
| Reserves | 13 | €743,917 | €819,494 | +€75,577 | +10.2% |
| Distributable reserves | 133 | €743,917 | €819,494 | +€75,577 | +10.2% |
| Profit (loss) carried forward | 14 | €55,887 | €55,887 | = | 0.0% |
| Amounts payable | 17/49 | €190,873 | €204,418 | +€13,545 | +7.1% |
| Amounts payable within one year | 42/48 | €190,658 | €204,227 | +€13,569 | +7.1% |
| Current portion of amounts payable after more than one year | 42 | €25,576 | - | -€25,576 | |
| Trade debts | 44 | €82,509 | €84,987 | +€2,478 | +3.0% |
| Suppliers | 440/4 | €82,509 | €84,987 | +€2,478 | +3.0% |
| Taxes, remuneration and social security | 45 | €25,696 | €24,576 | -€1,121 | -4.4% |
| Taxes | 450/3 | €25,696 | €24,576 | -€1,121 | -4.4% |
| Other amounts payable | 47/48 | €56,877 | €94,664 | +€37,788 | +66.4% |
| Accrued charges and deferred income | 492/3 | €215 | €191 | -€24 | -11.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,884 | €30,852 | +€3,968 | +14.8% |
| Other operating charges | 640/8 | €17,761 | €4,145 | -€13,615 | -76.7% |
| Gross operating margin | 9900 | €203,857 | €199,242 | -€4,615 | -2.3% |
| Operating profit (loss) | 9901 | €159,213 | €164,245 | +€5,032 | +3.2% |
| Financial income | 75/76B | €7,328 | €23,157 | +€15,830 | +216.0% |
| Recurring financial income | 75 | €7,328 | €23,157 | +€15,830 | +216.0% |
| Financial charges | 65/66B | €3,959 | €1,593 | -€2,366 | -59.8% |
| Recurring financial charges | 65 | €3,959 | €1,593 | -€2,366 | -59.8% |
| Profit (loss) for the period before taxes | 9903 | €162,582 | €185,810 | +€23,228 | +14.3% |
| Income taxes | 67/77 | €48,368 | €58,460 | +€10,092 | +20.9% |
| Profit (loss) for the period | 9904 | €114,213 | €127,349 | +€13,136 | +11.5% |
| Profit (loss) for the period to be appropriated | 9905 | €114,213 | €127,349 | +€13,136 | +11.5% |
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.