MEDIBAT: 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.
MEDIBAT
Largest movements
- Tangible fixed assets +€896,089
up €896,089 (+149%), from €603,095 to €1.5m
of which Land and buildings: +€726,611
- Receivables after one year +€300,000
new in 2025: €300,000
- Cash -€138,563
down €138,563 (-89.6%), from €154,580 to €16,017
mainly Investment in fixed assets (net) (-€922,065) and Receivables after one year (-€300,000)
- Receivables within one year -€39,346
down €39,346 (-51.5%), from €76,339 to €36,993
of which Trade receivables: -€54,358
- Debts after one year +€890,802
up €890,802 (+313%), from €284,927 to €1.2m
- Other debts +€409,065
up €409,065 (+878%), from €46,616 to €455,681
- Reserves -€189,075
down €189,075 (-75.0%), from €251,955 to €62,880
of which Tax-exempt reserves: -€189,075
- Provisions -€63,025
down €63,025 (-77.7%), from €81,065 to €18,040
- Trade debts -€52,994
down €52,994 (-99.8%), from €53,114 to €120
- Gross operating margin -€407,672
down €407,672, from €260,104 to -€147,567
- Depreciation +€21,173
up €21,173 (+233%), from €9,093 to €30,266
- Other operating charges -€17,809
down €17,809 (-80.2%), from €22,213 to €4,404
- Financial charges +€10,336
up €10,336 (+35.8%), from €28,894 to €39,230
- Taxes -€7,492
down €7,492 (-41.2%), from €18,201 to €10,709
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 | €1,254,640 | €2,268,401 | +€1.0m | +80.8% |
| Fixed assets | 21/28 | €1,022,463 | €1,914,262 | +€891,799 | +87.2% |
| Intangible fixed assets | 21 | €12,000 | €6,000 | -€6,000 | -50.0% |
| Tangible fixed assets | 22/27 | €603,095 | €1,499,184 | +€896,089 | +149% |
| Land and buildings | 22 | €547,438 | €1,274,049 | +€726,611 | +133% |
| Plant, machinery and equipment | 23 | €916 | €504 | -€412 | -45.0% |
| Furniture and vehicles | 24 | €1,742 | €1,277 | -€465 | -26.7% |
| Assets under construction and advance payments | 27 | €53,000 | €223,355 | +€170,355 | +321% |
| Financial fixed assets | 28 | €407,368 | €409,078 | +€1,710 | +0.4% |
| Current assets | 29/58 | €232,177 | €354,139 | +€121,962 | +52.5% |
| Amounts receivable after more than one year | 29 | - | €300,000 | +€300,000 | |
| Other amounts receivable | 291 | - | €300,000 | +€300,000 | |
| Amounts receivable within one year | 40/41 | €76,339 | €36,993 | -€39,346 | -51.5% |
| Trade receivables | 40 | €61,339 | €6,981 | -€54,358 | -88.6% |
| Other amounts receivable | 41 | €15,000 | €30,012 | +€15,012 | +100% |
| Cash at bank and in hand | 54/58 | €154,580 | €16,017 | -€138,563 | -89.6% |
| Deferred charges and accrued income | 490/1 | €1,258 | €1,129 | -€129 | -10.2% |
| Total equity and liabilities | 10/49 | €1,254,640 | €2,268,401 | +€1.0m | +80.8% |
| Equity | 10/15 | €372,533 | €199,742 | -€172,791 | -46.4% |
| Contributions | 10/11 | €65,262 | €65,262 | = | 0.0% |
| Capital | 10 | €65,262 | €65,262 | = | 0.0% |
| Issued capital | 100 | €65,262 | €65,262 | = | 0.0% |
| Reserves | 13 | €251,955 | €62,880 | -€189,075 | -75.0% |
| Non-distributable reserves | 130/1 | €6,526 | €6,526 | = | 0.0% |
| Legal reserve | 130 | €6,526 | €6,526 | = | 0.0% |
| Tax-exempt reserves | 132 | €243,195 | €54,119 | -€189,075 | -77.7% |
| Distributable reserves | 133 | €2,234 | €2,234 | = | 0.0% |
| Profit (loss) carried forward | 14 | €55,316 | €71,600 | +€16,285 | +29.4% |
| Provisions and deferred taxes | 16 | €81,065 | €18,040 | -€63,025 | -77.7% |
| Deferred taxes | 168 | €81,065 | €18,040 | -€63,025 | -77.7% |
| Amounts payable | 17/49 | €801,042 | €2,050,619 | +€1.2m | +156% |
| Amounts payable after more than one year | 17 | €284,927 | €1,175,729 | +€890,802 | +313% |
| Financial debts | 170/4 | €284,927 | €1,175,729 | +€890,802 | +313% |
| Amounts payable within one year | 42/48 | €516,115 | €874,890 | +€358,775 | +69.5% |
| Current portion of amounts payable after more than one year | 42 | €384,865 | €405,180 | +€20,315 | +5.3% |
| Trade debts | 44 | €53,114 | €120 | -€52,994 | -99.8% |
| Suppliers | 440/4 | €53,114 | €120 | -€52,994 | -99.8% |
| Taxes, remuneration and social security | 45 | €31,520 | €13,909 | -€17,611 | -55.9% |
| Taxes | 450/3 | €31,520 | €13,909 | -€17,611 | -55.9% |
| Other amounts payable | 47/48 | €46,616 | €455,681 | +€409,065 | +878% |
| Remuneration, social security and pensions | 62 | - | €3,640 | +€3,640 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,093 | €30,266 | +€21,173 | +233% |
| Other operating charges | 640/8 | €22,213 | €4,404 | -€17,809 | -80.2% |
| Gross operating margin | 9900 | €260,104 | -€147,567 | -€407,672 | |
| Operating profit (loss) | 9901 | €228,798 | -€185,878 | -€414,676 | |
| Financial charges | 65/66B | €28,894 | €39,230 | +€10,336 | +35.8% |
| Recurring financial charges | 65 | €28,894 | €39,230 | +€10,336 | +35.8% |
| Profit (loss) for the period before taxes | 9903 | €199,904 | -€225,107 | -€425,012 | |
| Transfer from deferred taxes | 780 | €24,124 | €63,025 | +€38,902 | +161% |
| Transfer to deferred taxes | 680 | €61,216 | - | -€61,216 | |
| Income taxes | 67/77 | €18,201 | €10,709 | -€7,492 | -41.2% |
| Profit (loss) for the period | 9904 | €144,612 | -€172,791 | -€317,403 | |
| Transfer from tax-exempt reserves | 789 | €77,799 | €189,075 | +€111,276 | +143% |
| Transfer to tax-exempt reserves | 689 | €189,075 | - | -€189,075 | |
| Profit (loss) for the period to be appropriated | 9905 | €33,336 | €16,285 | -€17,051 | -51.1% |
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 14 October 2026 via checked.be.