TAV MED: 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.
TAV MED
Largest movements
- Cash +€83,775
up €83,775 (+346%), from €24,244 to €108,018
mainly Net result for the year (+€68,065) and Depreciation (+€21,436)
- Tangible fixed assets -€21,436
down €21,436 (-4.8%), from €449,108 to €427,672
of which Furniture and vehicles: -€11,596
- Profit (loss) carried forward +€68,065
up €68,065 (+93.4%), from €72,849 to €140,915
- Debts after one year -€25,903
down €25,903 (-7.1%), from €363,259 to €337,356
- Tax, wage and social debts +€9,448
up €9,448 (+117%), from €8,060 to €17,508
- Other debts +€9,340
up €9,340 (+4,326%), from €216 to €9,556
- Depreciation -€53,756
down €53,756 (-71.5%), from €75,191 to €21,436
- Taxes +€9,448
up €9,448 (+117%), from €8,060 to €17,508
- Financial charges +€8,885
up €8,885 (+244%), from €3,647 to €12,532
of which Financial charges: +€9,001
- Gross operating margin +€4,747
up €4,747 (+4.0%), from €117,326 to €122,073
- Other operating charges +€2,200
up €2,200 (+663%), from €332 to €2,531
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 | €473,351 | €535,691 | +€62,339 | +13.2% |
| Fixed assets | 21/28 | €449,108 | €427,672 | -€21,436 | -4.8% |
| Tangible fixed assets | 22/27 | €449,108 | €427,672 | -€21,436 | -4.8% |
| Land and buildings | 22 | €408,571 | €398,731 | -€9,840 | -2.4% |
| Furniture and vehicles | 24 | €40,537 | €28,941 | -€11,596 | -28.6% |
| Current assets | 29/58 | €24,244 | €108,018 | +€83,775 | +346% |
| Cash at bank and in hand | 54/58 | €24,244 | €108,018 | +€83,775 | +346% |
| Total equity and liabilities | 10/49 | €473,351 | €535,691 | +€62,339 | +13.2% |
| Equity | 10/15 | €76,849 | €144,915 | +€68,065 | +88.6% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €72,849 | €140,915 | +€68,065 | +93.4% |
| Amounts payable | 17/49 | €396,502 | €390,776 | -€5,726 | -1.4% |
| Amounts payable after more than one year | 17 | €363,259 | €337,356 | -€25,903 | -7.1% |
| Financial debts | 170/4 | €363,259 | €337,356 | -€25,903 | -7.1% |
| Amounts payable within one year | 42/48 | €33,243 | €53,420 | +€20,177 | +60.7% |
| Current portion of amounts payable after more than one year | 42 | €24,967 | €25,903 | +€936 | +3.7% |
| Trade debts | 44 | - | €453 | +€453 | |
| Suppliers | 440/4 | - | €453 | +€453 | |
| Taxes, remuneration and social security | 45 | €8,060 | €17,508 | +€9,448 | +117% |
| Taxes | 450/3 | €8,060 | €17,508 | +€9,448 | +117% |
| Other amounts payable | 47/48 | €216 | €9,556 | +€9,340 | +4,326% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €75,191 | €21,436 | -€53,756 | -71.5% |
| Other operating charges | 640/8 | €332 | €2,531 | +€2,200 | +663% |
| Gross operating margin | 9900 | €117,326 | €122,073 | +€4,747 | +4.0% |
| Operating profit (loss) | 9901 | €41,803 | €98,106 | +€56,303 | +135% |
| Financial charges | 65/66B | €3,647 | €12,532 | +€8,885 | +244% |
| Recurring financial charges | 65 | €3,531 | €12,532 | +€9,001 | +255% |
| Non-recurring financial charges | 66B | €116 | - | -€116 | |
| Profit (loss) for the period before taxes | 9903 | €38,156 | €85,574 | +€47,417 | +124% |
| Income taxes | 67/77 | €8,060 | €17,508 | +€9,448 | +117% |
| Profit (loss) for the period | 9904 | €30,096 | €68,065 | +€37,969 | +126% |
| Profit (loss) for the period to be appropriated | 9905 | €30,096 | €68,065 | +€37,969 | +126% |
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.