MEDHELE: 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.
MEDHELE
Largest movements
- Cash +€51,450
up €51,450 (+94.6%), from €54,410 to €105,860
mainly Net result for the year (+€54,232) and Depreciation (+€18,763)
- Tangible fixed assets -€18,763
down €18,763 (-9.0%), from €209,483 to €190,721
of which Land and buildings: -€16,761
- Receivables within one year +€6,472
up €6,472 (+8.4%), from €77,061 to €83,533
of which Other amounts receivable: +€5,269
- Reserves +€37,730
up €37,730 (+18.9%), from €199,220 to €236,950
- Other debts +€16,500
new in 2025: €16,500
- Current portion of long-term debt -€11,781
down €11,781 (-61.9%), from €19,036 to €7,255
- Debts after one year -€7,439
down €7,439 (-23.1%), from €32,260 to €24,821
- Gross operating margin +€21,259
up €21,259 (+29.1%), from €73,170 to €94,429
- Taxes +€6,804
up €6,804 (+46.7%), from €14,577 to €21,381
- Financial charges -€2,782
down €2,782 (-60.9%), from €4,568 to €1,786
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 | €443,212 | €478,420 | +€35,209 | +7.9% |
| Fixed assets | 21/28 | €209,483 | €190,721 | -€18,763 | -9.0% |
| Tangible fixed assets | 22/27 | €209,483 | €190,721 | -€18,763 | -9.0% |
| Land and buildings | 22 | €204,385 | €187,624 | -€16,761 | -8.2% |
| Furniture and vehicles | 24 | €3,018 | €1,633 | -€1,385 | -45.9% |
| Other tangible fixed assets | 26 | €2,080 | €1,463 | -€617 | -29.7% |
| Current assets | 29/58 | €233,728 | €287,700 | +€53,971 | +23.1% |
| Amounts receivable within one year | 40/41 | €77,061 | €83,533 | +€6,472 | +8.4% |
| Trade receivables | 40 | €12,000 | €13,203 | +€1,203 | +10.0% |
| Other amounts receivable | 41 | €65,061 | €70,330 | +€5,269 | +8.1% |
| Current investments | 50/53 | €98,250 | €98,250 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €54,410 | €105,860 | +€51,450 | +94.6% |
| Deferred charges and accrued income | 490/1 | €4,007 | €57 | -€3,950 | -98.6% |
| Total equity and liabilities | 10/49 | €443,212 | €478,420 | +€35,209 | +7.9% |
| Equity | 10/15 | €380,471 | €418,202 | +€37,732 | +9.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €199,220 | €236,950 | +€37,730 | +18.9% |
| Distributable reserves | 133 | €199,220 | €236,950 | +€37,730 | +18.9% |
| Profit (loss) carried forward | 14 | €168,851 | €168,852 | +€2 | 0.0% |
| Amounts payable | 17/49 | €62,741 | €60,218 | -€2,523 | -4.0% |
| Amounts payable after more than one year | 17 | €32,260 | €24,821 | -€7,439 | -23.1% |
| Financial debts | 170/4 | €32,260 | €24,821 | -€7,439 | -23.1% |
| Amounts payable within one year | 42/48 | €30,481 | €35,397 | +€4,916 | +16.1% |
| Current portion of amounts payable after more than one year | 42 | €19,036 | €7,255 | -€11,781 | -61.9% |
| Trade debts | 44 | €4,229 | €11 | -€4,218 | -99.8% |
| Suppliers | 440/4 | €4,229 | €11 | -€4,218 | -99.8% |
| Taxes, remuneration and social security | 45 | €7,216 | €11,631 | +€4,415 | +61.2% |
| Taxes | 450/3 | €7,216 | €9,631 | +€2,415 | +33.5% |
| Remuneration and social security | 454/9 | - | €2,000 | +€2,000 | |
| Other amounts payable | 47/48 | - | €16,500 | +€16,500 | |
| Remuneration, social security and pensions | 62 | €23 | €0 | -€23 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,498 | €18,763 | +€265 | +1.4% |
| Other operating charges | 640/8 | €2,263 | €2,063 | -€200 | -8.8% |
| Gross operating margin | 9900 | €73,170 | €94,429 | +€21,259 | +29.1% |
| Operating profit (loss) | 9901 | €52,386 | €73,604 | +€21,218 | +40.5% |
| Financial income | 75/76B | €2,963 | €3,794 | +€832 | +28.1% |
| Recurring financial income | 75 | €2,963 | €3,794 | +€832 | +28.1% |
| Financial charges | 65/66B | €4,568 | €1,786 | -€2,782 | -60.9% |
| Recurring financial charges | 65 | €4,568 | €1,786 | -€2,782 | -60.9% |
| Profit (loss) for the period before taxes | 9903 | €50,781 | €75,612 | +€24,832 | +48.9% |
| Income taxes | 67/77 | €14,577 | €21,381 | +€6,804 | +46.7% |
| Profit (loss) for the period | 9904 | €36,204 | €54,232 | +€18,028 | +49.8% |
| Profit (loss) for the period to be appropriated | 9905 | €36,204 | €54,232 | +€18,028 | +49.8% |
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 16 October 2026 via checked.be.