MEDINVAS: 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.
MEDINVAS
Largest movements
- Cash -€27,521
down €27,521 (-52.6%), from €52,346 to €24,825
mainly Debts after one year (-€59,055) and Contributions, distributions and other (-€37,000)
- Tangible fixed assets -€25,432
down €25,432 (-5.2%), from €486,552 to €461,121
of which Land and buildings: -€24,552
- Debts after one year -€59,055
down €59,055 (-24.3%), from €243,417 to €184,362
- Trade debts +€9,732
up €9,732 (+4,866%), from €200 to €9,932
- Reserves -€6,888
down €6,888 (-5.6%), from €122,193 to €115,305
of which Distributable reserves: -€10,051
- Financial charges -€4,842
down €4,842 (-33.5%), from €14,446 to €9,604
- Gross operating margin -€4,131
down €4,131 (-3.4%), from €120,561 to €116,430
- Depreciation +€1,253
up €1,253 (+2.1%), from €58,951 to €60,204
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 | €539,234 | €485,946 | -€53,288 | -9.9% |
| Fixed assets | 21/28 | €486,552 | €461,121 | -€25,432 | -5.2% |
| Tangible fixed assets | 22/27 | €486,552 | €461,121 | -€25,432 | -5.2% |
| Land and buildings | 22 | €485,391 | €460,839 | -€24,552 | -5.1% |
| Plant, machinery and equipment | 23 | €792 | €97 | -€695 | -87.8% |
| Furniture and vehicles | 24 | €369 | €185 | -€185 | -50.0% |
| Current assets | 29/58 | €52,682 | €24,825 | -€27,857 | -52.9% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €52,346 | €24,825 | -€27,521 | -52.6% |
| Deferred charges and accrued income | 490/1 | €336 | €0 | -€336 | -100% |
| Total equity and liabilities | 10/49 | €539,234 | €485,946 | -€53,288 | -9.9% |
| Equity | 10/15 | €227,193 | €220,305 | -€6,888 | -3.0% |
| Contributions | 10/11 | €105,000 | €105,000 | = | 0.0% |
| Capital | 10 | €105,000 | €105,000 | = | 0.0% |
| Issued capital | 100 | €105,000 | €105,000 | = | 0.0% |
| Reserves | 13 | €122,193 | €115,305 | -€6,888 | -5.6% |
| Non-distributable reserves | 130/1 | €7,337 | €10,500 | +€3,163 | +43.1% |
| Legal reserve | 130 | €7,337 | €10,500 | +€3,163 | +43.1% |
| Distributable reserves | 133 | €114,856 | €104,805 | -€10,051 | -8.8% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €312,041 | €265,640 | -€46,401 | -14.9% |
| Amounts payable after more than one year | 17 | €243,417 | €184,362 | -€59,055 | -24.3% |
| Financial debts | 170/4 | €243,417 | €184,362 | -€59,055 | -24.3% |
| Amounts payable within one year | 42/48 | €68,624 | €81,278 | +€12,654 | +18.4% |
| Current portion of amounts payable after more than one year | 42 | €58,888 | €59,055 | +€167 | +0.3% |
| Financial debts | 43 | €5,871 | €5,498 | -€373 | -6.3% |
| Credit institutions | 430/8 | €5,871 | €5,498 | -€373 | -6.3% |
| Trade debts | 44 | €200 | €9,932 | +€9,732 | +4,866% |
| Suppliers | 440/4 | €200 | €9,932 | +€9,732 | +4,866% |
| Taxes, remuneration and social security | 45 | €3,372 | €6,152 | +€2,780 | +82.5% |
| Taxes | 450/3 | €3,372 | €6,152 | +€2,780 | +82.5% |
| Other amounts payable | 47/48 | €294 | €641 | +€347 | +118% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,951 | €60,204 | +€1,253 | +2.1% |
| Other operating charges | 640/8 | €4,227 | €4,252 | +€25 | +0.6% |
| Gross operating margin | 9900 | €120,561 | €116,430 | -€4,131 | -3.4% |
| Operating profit (loss) | 9901 | €57,383 | €51,974 | -€5,409 | -9.4% |
| Financial income | 75/76B | €196 | €621 | +€425 | +217% |
| Recurring financial income | 75 | €196 | €621 | +€425 | +217% |
| Financial charges | 65/66B | €14,446 | €9,604 | -€4,842 | -33.5% |
| Recurring financial charges | 65 | €14,446 | €9,604 | -€4,842 | -33.5% |
| Profit (loss) for the period before taxes | 9903 | €43,132 | €42,991 | -€142 | -0.3% |
| Income taxes | 67/77 | €13,430 | €12,878 | -€552 | -4.1% |
| Profit (loss) for the period | 9904 | €29,702 | €30,112 | +€410 | +1.4% |
| Profit (loss) for the period to be appropriated | 9905 | €29,702 | €30,112 | +€410 | +1.4% |
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 17 October 2026 via checked.be.