MEDEXPLORE
ActiveSummary
MEDEXPLORE has been active since 2013 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €739k and a net result of €117k. Equity is growing by ~19.6% per year across the filed fiscal years. Its solvency ranks better than 92% of 16618 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability88▼-2
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €65k at 30 days acceptable
Liquidity ample (current ratio 42.48 against 24.05 in 2024; short-term debt: 2.2% and cash: 10.6% of total assets), and 4.5% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 86
Relative position
BE, all sectors
reference
Human health activities (NACE 86)
about 87% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
95.5%
Return on assets
15.1%
Age of the figures
9 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
31 d late
2024
95 d late
2023
61 d late
2022
13 d late
2021
16 d late
2020
11 d late
2019
31 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€739k▲ 18.8%
2024 · €622k
2018: €300k
2019: €14k▼ -95.3% vs 2018lowest in 8 years
2020: €122k▲ +752% vs 2019
2021: €403k▲ +232% vs 2020
2022: €509k▲ +26.3% vs 2021
2023: €509k● 0.0% vs 2022
2024: €622k▲ +22.1% vs 2023
2025: €739k▲ +18.8% vs 2024highest in 8 years
2018 → 2025
Total assets
€774k▲ 15.0%
2024 · €672k
2018: €394klowest in 8 years
2019: €450k▲ +14.2% vs 2018
2020: €402k▼ -10.7% vs 2019
2021: €479k▲ +19.2% vs 2020
2022: €515k▲ +7.7% vs 2021
2023: €606k▲ +17.6% vs 2022
2024: €672k▲ +10.9% vs 2023
2025: €774k▲ +15.0% vs 2024highest in 8 years
2018 → 2025
Net result
€117k▲ 4.0%
2024 · €113k
2018: €60klowest in 8 years
2019: €75k▲ +25.6% vs 2018
2020: €353k▲ +368% vs 2019highest in 8 years
2021: €282k▼ -20.3% vs 2020
2022: €106k▼ -62.3% vs 2021
2023: €89k▼ -16.1% vs 2022
2024: €113k▲ +26.5% vs 2023
2025: €117k▲ +4.0% vs 2024
2018 → 2025
Working capital
€708k▲ 20.7%
2024 · €586k
2018: €287k
2019: €6k▼ -97.9% vs 2018lowest in 8 years
2020: €106k▲ +1669% vs 2019
2021: €367k▲ +248% vs 2020
2022: €494k▲ +34.4% vs 2021
2023: €499k▲ +1.1% vs 2022
2024: €586k▲ +17.5% vs 2023
2025: €708k▲ +20.7% vs 2024highest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€403k-€509k▲ 26.3%€509k=€622k▲ 22.1%€739k▲ 18.8%
2021: €403klowest in 5 years
2022: €509k▲ +26.3% vs 2021
2023: €509k● 0.0% vs 2022
2024: €622k▲ +22.1% vs 2023
2025: €739k▲ +18.8% vs 2024highest in 5 years
Operating result€411k-€154k▼ 62.5%€108k▼ 30.2%€155k▲ 44.3%€169k▲ 8.9%
2021: €411khighest in 5 years
2022: €154k▼ -62.5% vs 2021
2023: €108k▼ -30.2% vs 2022lowest in 5 years
2024: €155k▲ +44.3% vs 2023
2025: €169k▲ +8.9% vs 2024
Net result€282k-€106k▼ 62.3%€89k▼ 16.1%€113k▲ 26.5%€117k▲ 4.0%
2021: €282khighest in 5 years
2022: €106k▼ -62.3% vs 2021
2023: €89k▼ -16.1% vs 2022lowest in 5 years
2024: €113k▲ +26.5% vs 2023
2025: €117k▲ +4.0% vs 2024
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 9% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €774k
Fixed assets
€49k ▼ 19.6%
Current assets
€725k ▲ 18.5%
Equity and liabilities €774k
Equity
€739k ▲ 18.8%
Debt
€35k ▼ 31.3%
Debt's share of the balance-sheet total falls from 7.6% to 4.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€181k▲
2024 · €167k
Cash flow
€128k▲
2024 · €125k
Current ratio
42.48▲
2024 · 24.05
Debt to equity
0.05▼
2024 · 0.08
ROE
15.8%▼
2024 · 18.1%
ROA
15.1%▼
2024 · 16.7%
Interest coverage
106.87▼
2024 · 126.98
Debt ≤ 1 year
€17k▼
2024 · €25k
Debt > 1 year
€18k▼
2024 · €25k
Income taxes
€58k▲
2024 · €50k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 45 lines
Balance sheet
Code20242025
Assets
Total assets20/58€672k€774k▲
Fixed assets21/28€61k€49k▼
Tangible fixed assets22/27€61k€49k▼
Furniture and vehicles24€35k€26k▼
Other tangible fixed assets26€25k€23k▼
Current assets29/58€612k€725k▲
Amounts receivable after more than one year29€250k€250k=
Other amounts receivable291€250k€250k=
Amounts receivable within one year40/41€218k€338k▲
Other amounts receivable41€218k€338k▲
Cash at bank and in hand54/58€71k€82k▲
Deferred charges and accrued income490/1€73k€55k▼
Equity and liabilities
Total equity and liabilities10/49€672k€774k▲
Equity10/15€622k€739k▲
Contributions10/11€19k€19k=
Reserves13€603k€720k▲
Distributable reserves133€603k€720k▲
Amounts payable17/49€51k€35k▼
Amounts payable after more than one year17€25k€18k▼
Financial debts170/4€25k€18k▼
Amounts payable within one year42/48€25k€17k▼
Current portion of amounts payable after more than one year42€6k€7k▲
Financial debts43€2k€6k▲
Credit institutions430/8€2k€6k▲
Trade debts44€2k€874▼
Suppliers440/4€2k€874▼
Taxes, remuneration and social security45€15k€3k▼
Taxes450/3€15k€3k▼
Accrued charges and deferred income492/3€795-
Income statement
Code20242025
Non-recurring operating income76A-€10k
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€12k€11k▼
Other operating charges640/8€2k€1k▼
Gross operating margin9900€170k€182k▲
Operating profit (loss)9901€155k€169k▲
Financial income75/76B€9k€8k▼
Recurring financial income75€9k€8k▼
Financial charges65/66B€1k€2k▲
Recurring financial charges65€1k€2k▲
Profit (loss) for the period before taxes9903€163k€175k▲
Income taxes67/77€50k€58k▲
Profit (loss) for the period9904€113k€117k▲
Profit (loss) for the period to be appropriated9905€113k€117k▲
Appropriation of the result
Profit (loss) to be appropriated9906€113k€117k▲
Transfer to equity691/2€113k€117k▲
To other reserves6921€113k€117k▲
The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €10k | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6k | €6k | €6k | €12k | €11k | ▼ 5.0% |
| Other operating charges640/8 | €399 | €3k | €885 | €2k | €1k | ▼ 31.5% |
| Non-recurring operating charges66A | €12k | €4k | - | - | - | - |
| Gross operating margin9900 | €429k | €168k | €114k | €170k | €182k | ▲ 7.4% |
| Operating profit (loss)9901 | €411k | €154k | €108k | €155k | €169k | ▲ 8.9% |
| Financial income75/76B | - | - | €8k | €9k | €8k | ▼ 14.4% |
| Recurring financial income75 | - | - | €8k | €9k | €8k | ▼ 14.4% |
| Financial charges65/66B | €2k | €598 | €506 | €1k | €2k | ▲ 28.2% |
| Recurring financial charges65 | €2k | €598 | €506 | €1k | €2k | ▲ 28.2% |
| Profit (loss) for the period before taxes9903 | €409k | €154k | €115k | €163k | €175k | ▲ 7.5% |
| Income taxes67/77 | €128k | €48k | €26k | €50k | €58k | ▲ 15.4% |
| Profit (loss) for the period9904 | €282k | €106k | €89k | €113k | €117k | ▲ 4.0% |
| Profit (loss) for the period to be appropriated9905 | €282k | €106k | €89k | €113k | €117k | ▲ 4.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €479k | €515k | €606k | €672k | €774k | ▲ 15.0% |
| Fixed assets21/28 | €39k | €16k | €10k | €61k | €49k | ▼ 19.6% |
| Tangible fixed assets22/27 | €39k | €16k | €10k | €61k | €49k | ▼ 19.6% |
| Furniture and vehicles24 | €36k | €14k | €8k | €35k | €26k | ▼ 26.8% |
| Other tangible fixed assets26 | €2k | €2k | €2k | €25k | €23k | ▼ 9.7% |
| Current assets29/58 | €440k | €499k | €596k | €612k | €725k | ▲ 18.5% |
| Amounts receivable after more than one year29 | - | - | €250k | €250k | €250k | = |
| Other amounts receivable291 | - | - | €250k | €250k | €250k | = |
| Amounts receivable within one year40/41 | €48k | €153k | €152k | €218k | €338k | ▲ 55.1% |
| Other amounts receivable41 | €48k | €153k | €152k | €218k | €338k | ▲ 55.1% |
| Cash at bank and in hand54/58 | €264k | €306k | €140k | €71k | €82k | ▲ 16.0% |
| Deferred charges and accrued income490/1 | €129k | €41k | €54k | €73k | €55k | ▼ 24.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €479k | €515k | €606k | €672k | €774k | ▲ 15.0% |
| Equity10/15 | €403k | €509k | €509k | €622k | €739k | ▲ 18.8% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Reserves13 | €384k | €491k | €491k | €603k | €720k | ▲ 19.4% |
| Non-distributable reserves130/1 | €2k | €2k | €2k | - | - | - |
| Reserves not available under the articles1311 | €2k | €2k | €2k | - | - | - |
| Distributable reserves133 | €383k | €489k | €489k | €603k | €720k | ▲ 19.4% |
| Amounts payable17/49 | €76k | €6k | €97k | €51k | €35k | ▼ 31.3% |
| Amounts payable after more than one year17 | €3k | €422 | - | €25k | €18k | ▼ 27.4% |
| Financial debts170/4 | €3k | €422 | - | €25k | €18k | ▼ 27.4% |
| Amounts payable within one year42/48 | €73k | €6k | €97k | €25k | €17k | ▼ 32.9% |
| Current portion of amounts payable after more than one year42 | €3k | €3k | €422 | €6k | €7k | ▲ 3.5% |
| Financial debts43 | €18k | €2k | €2k | €2k | €6k | ▲ 274% |
| Credit institutions430/8 | €18k | €2k | €2k | €2k | €6k | ▲ 274% |
| Trade debts44 | €3k | €2k | €5k | €2k | €874 | ▼ 54.2% |
| Suppliers440/4 | €3k | €2k | €5k | €2k | €874 | ▼ 54.2% |
| Taxes, remuneration and social security45 | €17k | - | €27k | €15k | €3k | ▼ 80.0% |
| Taxes450/3 | €17k | - | €27k | €15k | €3k | ▼ 80.0% |
| Other amounts payable47/48 | €32k | - | €62k | - | - | - |
| Accrued charges and deferred income492/3 | - | - | - | €795 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €282k | €106k | €89k | €113k | €117k | ▲ 4.0% |
| + Depreciation and write-downs630 | €6k | €6k | €6k | €12k | €11k | ▼ 5.0% |
| Operating cash flow (approximation) | €288k | €112k | €95k | €125k | €128k | ▲ 3.1% |
| Investment in fixed assets (approximation) | - | €16k | €0 | €-62k | €549 | ▲ 101% |
| Change in cash | - | €42k | €-165k | €-70k | €11k | ▲ 116% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
03-11
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 95 days late
2024
31-12
Financial
Liquidity quadruplescurrent ratio 24.05
Current ratio from 6.14 to 24.05; short-term debt falls from €97k to €25k.
30-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 61 days late
2023
13-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 13 days late
2022
31-12
Financial
Liquidity times 14current ratio 85.96
Current ratio from 6.05 to 85.96; short-term debt falls from €73k to €6k.
31-12
Financial
Equity above €500kEq €509k ▲26.3%
5 profitable years in a row build equity to €509k.
16-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 16 days late
2021
31-12
Financial
Liquidity quadruplescurrent ratio 6.05
Current ratio from 1.38 to 6.05; short-term debt falls from €275k to €73k.
31-12
Financial
Equity above €200kEq €403k ▲232%
4 profitable years in a row build equity to €403k.
11-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 11 days late
2020
31-12
Financial
Highest result since 2018net €353k ▲368%
Operating result €516k, net result €353k, both a record.
Show earlier events
31-12
Financial
Equity above €100kEq €122k ▲752%
3 profitable years in a row build equity to €122k.
31-05
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 31 days late
2019
30-04
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
16-05
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 16 days late
2017
12-05
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 12 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Of 16,625 companies in sector 86220 we hold annual accounts for 7,979. 6,107 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded22-04-2013
Fiscal year end31-12
Activities, NACEBEL 2025
86220Specialist medical practice
Scores and ratios are computed by Checked and are not a credit decision.