AT - MEDICALS: 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.
AT - MEDICALS
Largest movements
- Current investments +€200,000
up €200,000 (+100%), from €200,000 to €400,000
- Cash -€122,097
down €122,097 (-31.8%), from €384,272 to €262,175
mainly Current investments (-€200,000) and Investment in fixed assets (net) (-€40,926)
- Tangible fixed assets +€14,186
up €14,186 (+2.6%), from €537,824 to €552,011
of which Other tangible fixed assets: +€35,585
- Reserves +€126,564
up €126,564 (+14.1%), from €895,687 to €1.0m
of which Distributable reserves: +€126,564
- Debts after one year -€27,911
down €27,911 (-13.8%), from €202,201 to €174,289
- Gross operating margin -€13,639
down €13,639 (-4.8%), from €284,606 to €270,967
- Staff costs -€13,189
down €13,189 (-18.4%), from €71,839 to €58,651
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 | €1,282,367 | €1,377,723 | +€95,356 | +7.4% |
| Fixed assets | 21/28 | €537,824 | €552,011 | +€14,186 | +2.6% |
| Tangible fixed assets | 22/27 | €537,824 | €552,011 | +€14,186 | +2.6% |
| Land and buildings | 22 | €432,095 | €417,692 | -€14,404 | -3.3% |
| Plant, machinery and equipment | 23 | €17,778 | €15,948 | -€1,830 | -10.3% |
| Furniture and vehicles | 24 | €23,387 | €18,221 | -€5,166 | -22.1% |
| Other tangible fixed assets | 26 | €64,564 | €100,149 | +€35,585 | +55.1% |
| Current assets | 29/58 | €744,543 | €825,712 | +€81,170 | +10.9% |
| Stocks and contracts in progress | 3 | €15,298 | €15,298 | +€0 | 0.0% |
| Stocks | 30/36 | €15,298 | €15,298 | +€0 | 0.0% |
| Amounts receivable within one year | 40/41 | €142,240 | €145,846 | +€3,606 | +2.5% |
| Trade receivables | 40 | €142,240 | €145,816 | +€3,576 | +2.5% |
| Other amounts receivable | 41 | - | €30 | +€30 | |
| Current investments | 50/53 | €200,000 | €400,000 | +€200,000 | +100% |
| Cash at bank and in hand | 54/58 | €384,272 | €262,175 | -€122,097 | -31.8% |
| Deferred charges and accrued income | 490/1 | €2,733 | €2,393 | -€340 | -12.4% |
| Total equity and liabilities | 10/49 | €1,282,367 | €1,377,723 | +€95,356 | +7.4% |
| Equity | 10/15 | €948,210 | €1,073,288 | +€125,078 | +13.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €895,687 | €1,022,251 | +€126,564 | +14.1% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €876,937 | €1,003,501 | +€126,564 | +14.4% |
| Investment grants | 15 | €40,123 | €38,637 | -€1,486 | -3.7% |
| Amounts payable | 17/49 | €334,157 | €304,435 | -€29,722 | -8.9% |
| Amounts payable after more than one year | 17 | €202,201 | €174,289 | -€27,911 | -13.8% |
| Financial debts | 170/4 | €202,201 | €174,289 | -€27,911 | -13.8% |
| Amounts payable within one year | 42/48 | €131,956 | €129,597 | -€2,359 | -1.8% |
| Current portion of amounts payable after more than one year | 42 | €29,753 | €30,218 | +€464 | +1.6% |
| Trade debts | 44 | €48,539 | €47,184 | -€1,356 | -2.8% |
| Suppliers | 440/4 | €48,539 | €47,184 | -€1,356 | -2.8% |
| Taxes, remuneration and social security | 45 | €52,942 | €52,196 | -€747 | -1.4% |
| Taxes | 450/3 | €46,186 | €45,018 | -€1,168 | -2.5% |
| Remuneration and social security | 454/9 | €6,756 | €7,177 | +€421 | +6.2% |
| Other amounts payable | 47/48 | €721 | - | -€721 | |
| Accrued charges and deferred income | 492/3 | - | €548 | +€548 | |
| Non-recurring operating income | 76A | €13,288 | - | -€13,288 | |
| Remuneration, social security and pensions | 62 | €71,839 | €58,651 | -€13,189 | -18.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,301 | €26,740 | +€1,439 | +5.7% |
| Other operating charges | 640/8 | €6,376 | €6,293 | -€84 | -1.3% |
| Gross operating margin | 9900 | €284,606 | €270,967 | -€13,639 | -4.8% |
| Operating profit (loss) | 9901 | €181,089 | €179,285 | -€1,805 | -1.0% |
| Financial income | 75/76B | €3,605 | €2,691 | -€914 | -25.4% |
| Recurring financial income | 75 | €3,605 | €2,691 | -€914 | -25.4% |
| Financial charges | 65/66B | €4,278 | €3,761 | -€517 | -12.1% |
| Recurring financial charges | 65 | €4,278 | €3,761 | -€517 | -12.1% |
| Profit (loss) for the period before taxes | 9903 | €180,417 | €178,215 | -€2,202 | -1.2% |
| Income taxes | 67/77 | €51,591 | €51,651 | +€60 | +0.1% |
| Profit (loss) for the period | 9904 | €128,826 | €126,564 | -€2,262 | -1.8% |
| Profit (loss) for the period to be appropriated | 9905 | €128,826 | €126,564 | -€2,262 | -1.8% |
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 29 October 2026 via checked.be.