Medinova: 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.
Medinova
Largest movements
- Cash +€222,124
up €222,124 (+130%), from €170,312 to €392,436
mainly Net result for the year (+€212,049) and Tax, wage and social debts (+€8,552)
- Reserves +€212,049
up €212,049 (+95.5%), from €222,056 to €434,105
- Tax, wage and social debts +€8,552
up €8,552 (+14.4%), from €59,521 to €68,074
- Taxes +€16,052
up €16,052 (+27.0%), from €59,521 to €75,574
- Gross operating margin +€6,915
up €6,915 (+2.4%), from €282,600 to €289,515
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 | €292,483 | €511,738 | +€219,255 | +75.0% |
| Formation expenses | 20 | €2,256 | €1,725 | -€532 | -23.6% |
| Fixed assets | 21/28 | €4,216 | €4,621 | +€405 | +9.6% |
| Tangible fixed assets | 22/27 | €4,216 | €4,621 | +€405 | +9.6% |
| Plant, machinery and equipment | 23 | - | €1,366 | +€1,366 | |
| Furniture and vehicles | 24 | €4,216 | €3,255 | -€961 | -22.8% |
| Current assets | 29/58 | €286,010 | €505,392 | +€219,382 | +76.7% |
| Amounts receivable within one year | 40/41 | €115,496 | €112,956 | -€2,539 | -2.2% |
| Trade receivables | 40 | €115,496 | €112,956 | -€2,539 | -2.2% |
| Cash at bank and in hand | 54/58 | €170,312 | €392,436 | +€222,124 | +130% |
| Deferred charges and accrued income | 490/1 | €202 | - | -€202 | |
| Total equity and liabilities | 10/49 | €292,483 | €511,738 | +€219,255 | +75.0% |
| Equity | 10/15 | €227,056 | €439,105 | +€212,049 | +93.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €222,056 | €434,105 | +€212,049 | +95.5% |
| Distributable reserves | 133 | €222,056 | €434,105 | +€212,049 | +95.5% |
| Amounts payable | 17/49 | €65,427 | €72,634 | +€7,207 | +11.0% |
| Amounts payable after more than one year | 17 | €257 | €1,695 | +€1,438 | +560% |
| Other amounts payable | 178/9 | €257 | €1,695 | +€1,438 | +560% |
| Amounts payable within one year | 42/48 | €65,170 | €70,939 | +€5,769 | +8.9% |
| Trade debts | 44 | €5,648 | €2,865 | -€2,784 | -49.3% |
| Suppliers | 440/4 | €5,648 | €2,865 | -€2,784 | -49.3% |
| Taxes, remuneration and social security | 45 | €59,521 | €68,074 | +€8,552 | +14.4% |
| Taxes | 450/3 | €59,521 | €68,074 | +€8,552 | +14.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €993 | €1,795 | +€802 | +80.7% |
| Other operating charges | 640/8 | - | €62 | +€62 | |
| Gross operating margin | 9900 | €282,600 | €289,515 | +€6,915 | +2.4% |
| Operating profit (loss) | 9901 | €281,607 | €287,658 | +€6,051 | +2.1% |
| Financial income | 75/76B | - | €9 | +€9 | |
| Recurring financial income | 75 | - | €9 | +€9 | |
| Financial charges | 65/66B | €30 | €45 | +€15 | +50.0% |
| Recurring financial charges | 65 | €30 | €45 | +€15 | +50.0% |
| Profit (loss) for the period before taxes | 9903 | €281,577 | €287,622 | +€6,045 | +2.1% |
| Income taxes | 67/77 | €59,521 | €75,574 | +€16,052 | +27.0% |
| Profit (loss) for the period | 9904 | €222,056 | €212,049 | -€10,008 | -4.5% |
| Profit (loss) for the period to be appropriated | 9905 | €222,056 | €212,049 | -€10,008 | -4.5% |
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 15 October 2026 via checked.be.