ARS MEDICI: 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.
ARS MEDICI
Largest movements
- Current investments -€450,000
no longer reported in 2025 (was €450,000)
- Cash +€422,795
up €422,795 (+218%), from €194,147 to €616,943
mainly Current investments (+€450,000) and Other debts (+€76,134)
- Tangible fixed assets -€22,903
down €22,903 (-10.2%), from €225,470 to €202,567
of which Furniture and vehicles: -€13,884
- Reserves -€107,724
down €107,724 (-14.3%), from €755,330 to €647,606
- Other debts +€76,134
up €76,134 (+103%), from €74,233 to €150,368
- Tax, wage and social debts -€25,971
down €25,971 (-70.8%), from €36,705 to €10,734
- Gross operating margin -€69,747
down €69,747 (-48.6%), from €143,447 to €73,700
- Taxes -€17,666
down €17,666 (-48.1%), from €36,753 to €19,087
- Financial income +€2,898
up €2,898 (+56.5%), from €5,126 to €8,023
- Depreciation -€1,700
down €1,700 (-6.9%), from €24,603 to €22,903
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 | €885,381 | €828,872 | -€56,510 | -6.4% |
| Fixed assets | 21/28 | €225,540 | €202,637 | -€22,903 | -10.2% |
| Tangible fixed assets | 22/27 | €225,470 | €202,567 | -€22,903 | -10.2% |
| Land and buildings | 22 | €182,508 | €173,730 | -€8,779 | -4.8% |
| Plant, machinery and equipment | 23 | €1,088 | €848 | -€240 | -22.1% |
| Furniture and vehicles | 24 | €41,874 | €27,989 | -€13,884 | -33.2% |
| Financial fixed assets | 28 | €70 | €70 | = | 0.0% |
| Current assets | 29/58 | €659,841 | €626,235 | -€33,607 | -5.1% |
| Amounts receivable within one year | 40/41 | €15,268 | €8,846 | -€6,423 | -42.1% |
| Trade receivables | 40 | €2,357 | €1,892 | -€465 | -19.7% |
| Other amounts receivable | 41 | €12,911 | €6,953 | -€5,957 | -46.1% |
| Current investments | 50/53 | €450,000 | - | -€450,000 | |
| Cash at bank and in hand | 54/58 | €194,147 | €616,943 | +€422,795 | +218% |
| Deferred charges and accrued income | 490/1 | €426 | €447 | +€21 | +4.9% |
| Total equity and liabilities | 10/49 | €885,381 | €828,872 | -€56,510 | -6.4% |
| Equity | 10/15 | €773,930 | €666,206 | -€107,724 | -13.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €755,330 | €647,606 | -€107,724 | -14.3% |
| Distributable reserves | 133 | €755,330 | €647,606 | -€107,724 | -14.3% |
| Amounts payable | 17/49 | €111,451 | €162,666 | +€51,215 | +46.0% |
| Amounts payable within one year | 42/48 | €111,451 | €162,666 | +€51,215 | +46.0% |
| Trade debts | 44 | €513 | €1,564 | +€1,051 | +205% |
| Suppliers | 440/4 | €513 | €1,564 | +€1,051 | +205% |
| Taxes, remuneration and social security | 45 | €36,705 | €10,734 | -€25,971 | -70.8% |
| Taxes | 450/3 | €36,705 | €10,734 | -€25,971 | -70.8% |
| Other amounts payable | 47/48 | €74,233 | €150,368 | +€76,134 | +103% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,603 | €22,903 | -€1,700 | -6.9% |
| Other operating charges | 640/8 | €3,206 | €3,274 | +€69 | +2.1% |
| Gross operating margin | 9900 | €143,447 | €73,700 | -€69,747 | -48.6% |
| Operating profit (loss) | 9901 | €115,638 | €47,522 | -€68,116 | -58.9% |
| Financial income | 75/76B | €5,126 | €8,023 | +€2,898 | +56.5% |
| Recurring financial income | 75 | €5,126 | €8,023 | +€2,898 | +56.5% |
| Financial charges | 65/66B | €581 | €806 | +€225 | +38.7% |
| Recurring financial charges | 65 | €581 | €806 | +€225 | +38.7% |
| Profit (loss) for the period before taxes | 9903 | €120,183 | €54,740 | -€65,443 | -54.5% |
| Income taxes | 67/77 | €36,753 | €19,087 | -€17,666 | -48.1% |
| Profit (loss) for the period | 9904 | €83,430 | €35,653 | -€47,777 | -57.3% |
| Profit (loss) for the period to be appropriated | 9905 | €83,430 | €35,653 | -€47,777 | -57.3% |
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 14 October 2026 via checked.be.