AS MEDICAL: 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.
AS MEDICAL
Largest movements
- Tangible fixed assets +€23,670
up €23,670 (+51.3%), from €46,144 to €69,814
of which Leasing and similar rights: +€19,351
- Receivables within one year +€21,025
up €21,025 (+675%), from €3,116 to €24,141
of which Other amounts receivable: +€16,714
- Cash -€12,931
down €12,931 (-12.5%), from €103,690 to €90,759
mainly Investment in fixed assets (net) (-€44,216) and Other debts (-€25,170)
- Reserves +€47,627
up €47,627 (+56.4%), from €84,465 to €132,092
of which Distributable reserves: +€47,627
- Other debts -€25,170
no longer reported in 2025 (was €25,170)
- Debts after one year +€5,894
up €5,894 (+53.4%), from €11,047 to €16,940
- Current portion of long-term debt +€3,525
up €3,525 (+58.4%), from €6,042 to €9,567
- Gross operating margin -€44,697
down €44,697 (-25.5%), from €175,187 to €130,490
- Taxes -€14,961
down €14,961 (-40.8%), from €36,672 to €21,710
- Depreciation +€4,848
up €4,848 (+30.9%), from €15,698 to €20,546
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 | €158,436 | €191,108 | +€32,671 | +20.6% |
| Fixed assets | 21/28 | €46,144 | €69,814 | +€23,670 | +51.3% |
| Tangible fixed assets | 22/27 | €46,144 | €69,814 | +€23,670 | +51.3% |
| Land and buildings | 22 | €2,500 | €2,500 | = | 0.0% |
| Plant, machinery and equipment | 23 | €9,295 | €21,161 | +€11,866 | +128% |
| Furniture and vehicles | 24 | €10,274 | €5,415 | -€4,859 | -47.3% |
| Leasing and similar rights | 25 | - | €19,351 | +€19,351 | |
| Other tangible fixed assets | 26 | €24,075 | €21,387 | -€2,688 | -11.2% |
| Current assets | 29/58 | €112,293 | €121,294 | +€9,001 | +8.0% |
| Amounts receivable within one year | 40/41 | €3,116 | €24,141 | +€21,025 | +675% |
| Trade receivables | 40 | €709 | €5,021 | +€4,312 | +608% |
| Other amounts receivable | 41 | €2,407 | €19,120 | +€16,714 | +694% |
| Cash at bank and in hand | 54/58 | €103,690 | €90,759 | -€12,931 | -12.5% |
| Deferred charges and accrued income | 490/1 | €5,487 | €6,393 | +€907 | +16.5% |
| Total equity and liabilities | 10/49 | €158,436 | €191,108 | +€32,671 | +20.6% |
| Equity | 10/15 | €104,558 | €152,186 | +€47,627 | +45.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €84,465 | €132,092 | +€47,627 | +56.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €82,605 | €130,232 | +€47,627 | +57.7% |
| Profit (loss) carried forward | 14 | €1,493 | €1,494 | +€0 | 0.0% |
| Amounts payable | 17/49 | €53,878 | €38,922 | -€14,956 | -27.8% |
| Amounts payable after more than one year | 17 | €11,047 | €16,940 | +€5,894 | +53.4% |
| Financial debts | 170/4 | €11,047 | €16,940 | +€5,894 | +53.4% |
| Amounts payable within one year | 42/48 | €42,832 | €21,982 | -€20,850 | -48.7% |
| Current portion of amounts payable after more than one year | 42 | €6,042 | €9,567 | +€3,525 | +58.4% |
| Trade debts | 44 | €782 | €1,450 | +€668 | +85.3% |
| Suppliers | 440/4 | €782 | €1,450 | +€668 | +85.3% |
| Taxes, remuneration and social security | 45 | €10,838 | €10,965 | +€127 | +1.2% |
| Taxes | 450/3 | €237 | - | -€237 | |
| Remuneration and social security | 454/9 | €10,601 | €10,965 | +€364 | +3.4% |
| Other amounts payable | 47/48 | €25,170 | - | -€25,170 | |
| Remuneration, social security and pensions | 62 | €38,152 | €38,152 | -€0 | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,698 | €20,546 | +€4,848 | +30.9% |
| Other operating charges | 640/8 | €1,252 | €1,665 | +€413 | +33.0% |
| Gross operating margin | 9900 | €175,187 | €130,490 | -€44,697 | -25.5% |
| Operating profit (loss) | 9901 | €120,086 | €70,128 | -€49,957 | -41.6% |
| Financial income | 75/76B | €261 | €771 | +€510 | +196% |
| Recurring financial income | 75 | €261 | €771 | +€510 | +196% |
| Financial charges | 65/66B | €1,070 | €1,561 | +€492 | +46.0% |
| Recurring financial charges | 65 | €1,070 | €1,561 | +€492 | +46.0% |
| Profit (loss) for the period before taxes | 9903 | €119,277 | €69,338 | -€49,939 | -41.9% |
| Income taxes | 67/77 | €36,672 | €21,710 | -€14,961 | -40.8% |
| Profit (loss) for the period | 9904 | €82,605 | €47,627 | -€34,978 | -42.3% |
| Profit (loss) for the period to be appropriated | 9905 | €82,605 | €47,627 | -€34,978 | -42.3% |
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 26 October 2026 via checked.be.