MEDISEC
InactiveFinancials · financial year 2024, full format
Annual accounts 2024 filed on 22-07-2025 PDF all 30 filings
Amounts without an identifiable currency are taken as euros.
Turnover
€6.6m▲ 59.1%
2023 · €4.1m
EBIT margin
32.2%▼ 1.2pp
2023 · 33.4%
Net result
€1.6m▲ 56.1%
2023 · €1.0m
Working capital
€5.0m▲ 45.8%
2023 · €3.4m
Multi-year overview
2019 to 2024, 6 financial yearsTurnover
€6.6m
▲ 59.1%
2024
20192024
Operating result
€2.1m
▲ 53.4%
2024
20192024
Net result
€1.6m
▲ 56.1%
2024
20192024
EBIT margin
32.2%
▼ 1.2pp
2024
20192024
Equity
€5.0m
▲ 45.8%
2024
20192024
Total assets
€5.6m
▲ 42.3%
2024
20192024
Debt
€559,730
▲ 17.3%
2024
20192024
Working capital
€5.0m
▲ 45.8%
2024
20192024
Staff (FTE)
44.7
▲ 2.3%
2024
20192024
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line201920202021202220232024
Turnover€2.5m-€2.8m▲ 14.3%€4.4m▲ 57.5%€5.2m▲ 17.7%€4.1m▼ 20.7%€6.6m▲ 59.1%
Operating result€0.8m-€0.9m▲ 14.5%€1.5m▲ 56.6%€1.7m▲ 18.0%€1.4m▼ 20.7%€2.1m▲ 53.4%
Net result€11.1m-€3.4m▼ 69.8%€1.1m▼ 67.7%€1.3m▲ 18.3%€1.0m▼ 21.0%€1.6m▲ 56.1%
EBIT margin33.4%-33.5%▲ 0.1pp33.3%▼ 0.2pp33.4%▲ 0.1pp33.4%=32.2%▼ 1.2pp
Equity€12.2m-€0.08m▼ 99.4%€1.2m▲ 15×€2.4m▲ 110%€3.5m▲ 41.5%€5.0m▲ 45.8%
Total assets€15.7m-€3.9m▼ 74.9%€1.8m▼ 55.5%€3.0m▲ 71.6%€3.9m▲ 30.9%€5.6m▲ 42.3%
Debt€3.5m-€3.9m▲ 11.0%€0.6m▼ 84.7%€0.6m▼ 4.7%€0.5m▼ 15.0%€0.6m▲ 17.3%
Working capital€0.3m-€0.07m▼ 78.0%€1.2m▲ 16×€2.4m▲ 111%€3.4m▲ 41.5%€5.0m▲ 45.8%
Staff (FTE)32-36.8▲ 15.0%41.1▲ 11.7%42.2▲ 2.7%43.7▲ 3.6%44.7▲ 2.3%
The operating result for 2024 is 53% higher than in 2023 and the highest since 2020. It is a recovery after the fall in 2023.
Large changes and their cause
- 2024 Turnover +59%, Net result +56% on 2023. This financial year ran 18 months, the previous one 12.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €5.6m
Fixed assets
€5,000 =
Current assets
€5.6m ▲ 42.3%
Equity and liabilities €5.6m
Equity
€5.0m ▲ 45.8%
Debt
€559,730 ▲ 17.3%
Debt's share of the balance-sheet total falls from 12.1% to 10.0%. Equity and debt are higher.
Key figures and ratios
Current ratio
9.98▲
2023 · 8.22
Quick ratio
9.94▲
2023 · 8.17
Debt to equity
0.11▼
2023 · 0.14
ROE
31.4%▲
2023 · 29.3%
ROA
28.2%▲
2023 · 25.8%
Debt ≤ 1 year
€559,730▲
2023 · €477,354
Income taxes
€559,289▲
2023 · €360,330
Customer credit
57 days▼
2023 · 81 days
Supplier credit
71 days▼
2023 · 98 days
Staff costs
€3.6m▲
2023 · €2.3m
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 30-06-2022 | 30-06-2023 | 31-12-2024 |
|---|---|---|---|
| Employees at the balance-sheet date | 54 | 55 | 56 |
| full-time | 19 | 20 | 20 |
| part-time | 35 | 35 | 36 |
| in full-time equivalents | 43.3 | 44.5 | 45.1 |
| Average over the year, in full-time equivalents | 42.2 | 43.7 | 44.7 |
| On a permanent contract | 52 | 52 | 51 |
| Joined | 15 | 8 | 19 |
| Left | 9 | 7 | 17 |
| Agency workers, average number | 5.8 | 1.2 | 1.5 |
| Training hours | 729 | 409 | 1,322 |
Source: social balance sheet in the 2022 to 2024 annual accounts
Auditor
The auditor is FIGURAD BEDRIJFSREVISOREN.
| Item | 30-06-2022 | 30-06-2023 | 2024 |
|---|---|---|---|
| Fee for the audit | €4,000 | €4,700 | €4,512 |
| Other work by the auditor | - | - | €0 |
Source: notes to the 2022 to 2024 annual accounts (relations with the auditor)
Subsidies and aid
Flemish government
2022 to 2024 · 5 entries · €17,700 awarded · €17,700 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2024 | 1 | €4,377 | €4,377 |
| 2023 | 2 | €6,681 | €6,681 |
| 2022 | 2 | €6,642 | €6,642 |
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | €5.2m | €4.2m | €6.6m | ▲ 56.9% |
| Turnover70 | €2.5m | €2.8m | €4.4m | €5.2m | €4.1m | €6.6m | ▲ 59.1% |
| Other operating income74 | - | - | - | €0.01m | €0.07m | €0.02m | ▼ 70.6% |
| Non-recurring operating income76A | - | - | - | - | - | €0.001m | - |
| Operating charges60/66A | - | - | - | €3.5m | €2.8m | €4.5m | ▲ 58.7% |
| Goods for resale, raw materials and consumables60 | - | - | - | €0.5m | €0.2m | €0.4m | ▲ 77.5% |
| Purchases600/8 | - | - | - | €0.5m | €0.2m | €0.4m | ▲ 77.9% |
| Change in stocks: decrease (increase)609 | - | - | - | -€0.001m | €0.002m | €0.002m | ▲ 29.3% |
| Services and other goods61 | - | - | - | €0.7m | €0.3m | €0.5m | ▲ 55.8% |
| Remuneration, social security and pensions62 | - | - | - | €2.3m | €2.3m | €3.6m | ▲ 57.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0 | €0 | €0 | - | - | - | - |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €0.002m | -€0.002m | - |
| Other operating charges640/8 | - | - | - | €0.001m | €0.002m | €0.004m | ▲ 139% |
| Non-recurring operating charges66A | - | - | - | €58 | €58 | €0.001m | ▲ 12× |
| Operating profit (loss)9901 | €0.8m | €0.9m | €1.5m | €1.7m | €1.4m | €2.1m | ▲ 53.4% |
| Financial income75/76B | - | - | - | €32 | - | €0.03m | - |
| Recurring financial income75 | €10.5m | €1.0m | €4 | €32 | - | €0.03m | - |
| Income from current assets751 | - | - | - | - | - | €0.03m | - |
| Other financial income752/9 | - | - | - | €32 | - | - | - |
| Financial charges65/66B | - | - | - | €0.002m | €0.002m | €0.001m | ▼ 23.6% |
| Recurring financial charges65 | €121 | €0.002m | €0.001m | €0.002m | €0.002m | €0.001m | ▼ 23.6% |
| Debt charges650 | €31 | €0 | €0 | - | €0.001m | - | - |
| Other financial charges652/9 | - | - | - | €0.002m | €0.001m | €0.001m | ▲ 39.4% |
| Profit (loss) for the period before taxes9903 | €11.3m | €3.6m | €1.5m | €1.7m | €1.4m | €2.1m | ▲ 55.9% |
| Income taxes67/77 | €0.2m | €0.3m | €0.4m | €0.5m | €0.4m | €0.6m | ▲ 55.2% |
| Taxes670/3 | - | - | - | €0.5m | €0.4m | €0.6m | ▲ 55.2% |
| Tax adjustments and reversals of tax provisions77 | - | - | - | - | €318 | €0.001m | ▲ 58.8% |
| Profit (loss) for the period9904 | €11.1m | €3.4m | €1.1m | €1.3m | €1.0m | €1.6m | ▲ 56.1% |
| Profit (loss) for the period to be appropriated9905 | €11.1m | €3.4m | €1.1m | €1.3m | €1.0m | €1.6m | ▲ 56.1% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €15.7m | €3.9m | €1.8m | €3.0m | €3.9m | €5.6m | ▲ 42.3% |
| Formation expenses20 | €0 | €0 | €0 | - | - | - | - |
| Fixed assets21/28 | €11.9m | €0.005m | €0.005m | €0.005m | €0.005m | €0.005m | = |
| Intangible fixed assets21 | €0 | €0 | €0 | - | - | - | - |
| Financial fixed assets28 | €11.9m | €0.005m | €0.005m | €0.005m | €0.005m | €0.005m | = |
| Other financial fixed assets284/8 | - | - | - | €0.005m | €0.005m | €0.005m | = |
| Amounts receivable and cash guarantees285/8 | - | - | - | €0.005m | €0.005m | €0.005m | = |
| Current assets29/58 | €3.8m | €3.9m | €1.7m | €3.0m | €3.9m | €5.6m | ▲ 42.3% |
| Stocks and contracts in progress3 | €0.008m | €0.008m | €0.03m | €0.03m | €0.02m | €0.02m | ▼ 2.0% |
| Stocks30/36 | - | - | - | €0.03m | €0.02m | €0.02m | ▼ 2.0% |
| Raw materials and consumables30/31 | - | - | - | €0.03m | €0.02m | €0.02m | ▼ 2.0% |
| Amounts receivable within one year40/41 | €1.6m | €1.8m | €1.1m | €0.9m | €1.0m | €1.0m | ▲ 6.0% |
| Trade receivables40 | - | - | - | €0.9m | €0.9m | €1.0m | ▲ 11.2% |
| Other amounts receivable41 | - | - | - | - | €0.06m | €0.02m | ▼ 68.9% |
| Cash at bank and in hand54/58 | €2.2m | €2.1m | €0.6m | €2.1m | €2.9m | €4.5m | ▲ 55.0% |
| Deferred charges and accrued income490/1 | - | - | - | €0.006m | €0.003m | €0.004m | ▲ 8.8% |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €15.7m | €3.9m | €1.8m | €3.0m | €3.9m | €5.6m | ▲ 42.3% |
| Equity10/15 | €12.2m | €0.08m | €1.2m | €2.4m | €3.5m | €5.0m | ▲ 45.8% |
| Contributions10/11 | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Capital10 | - | - | - | €0.06m | €0.06m | €0.06m | = |
| Issued capital100 | - | - | - | €0.06m | €0.06m | €0.06m | = |
| Reserves13 | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Non-distributable reserves130/1 | - | - | - | €0.006m | €0.006m | €0.006m | = |
| Legal reserve130 | - | - | - | €0.006m | €0.006m | €0.006m | = |
| Profit (loss) carried forward14 | €12.1m | €0.01m | €1.1m | €2.4m | €3.4m | €5.0m | ▲ 46.7% |
| Amounts payable17/49 | €3.5m | €3.9m | €0.6m | €0.6m | €0.5m | €0.6m | ▲ 17.3% |
| Amounts payable within one year42/48 | €3.5m | €3.9m | €0.6m | €0.6m | €0.5m | €0.6m | ▲ 17.3% |
| Trade debts44 | €0.3m | €0.2m | €0.1m | €0.07m | €0.06m | €0.08m | ▲ 28.8% |
| Suppliers440/4 | - | - | - | €0.07m | €0.06m | €0.08m | ▲ 28.8% |
| Taxes, remuneration and social security45 | - | - | - | €0.5m | €0.4m | €0.5m | ▲ 15.6% |
| Taxes450/3 | - | - | - | €0.06m | €0.04m | €0.1m | ▲ 153% |
| Remuneration and social security454/9 | - | - | - | €0.4m | €0.4m | €0.4m | ▲ 1.0% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €11.1m | €3.4m | €1.1m | €1.3m | €1.0m | €1.6m | ▲ 56.1% |
| + Depreciation and write-downs630 | €0 | €0 | €0 | - | - | - | - |
| Operating cash flow (approximation) | €11.1m | €3.4m | €1.1m | €1.3m | €1.0m | €1.6m | ▲ 56.1% |
| Investment in fixed assets (approximation) | - | €11.9m | €0 | €0 | €0 | €0 | - |
| Change in cash | - | -€0.1m | -€1.5m | €1.5m | €0.8m | €1.6m | ▲ 96.9% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 30 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2024 | full format | 22-07-2025 | 2025-00310535 | |
| 30-06-2023 | full format | 10-01-2024 | 2024-00546187 | |
| 30-06-2022 | full format | 20-01-2023 | 2023-00000836 | |
| 30-06-2021 | full format | 11-01-2022 | 2022-00700298 | |
| 30-06-2020 | full format | 04-12-2020 | 2020-74300182 | |
| 30-06-2019 | full format | 20-12-2019 | 2019-76700009 | |
| 30-06-2018 | full format | 21-12-2018 | 2018-75100275 | |
| 30-06-2017 | full format | 10-01-2018 | 2018-00700302 | |
| 30-06-2016 | full format | 10-01-2017 | 2017-00500432 | |
| 30-06-2015 | full format | 21-12-2015 | 2015-69400196 |