CEDARS 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.
CEDARS MEDICAL
Largest movements
- Receivables within one year +€28,762
up €28,762 (+82.1%), from €35,030 to €63,791
- Tangible fixed assets -€23,425
down €23,425 (-7.4%), from €318,520 to €295,095
of which Land and buildings: -€20,746
- Cash -€10,770
down €10,770 (-3.6%), from €298,939 to €288,169
mainly Contributions, distributions and other (-€171,238) and Debts after one year (-€37,213)
- Other debts +€108,236
up €108,236 (+172%), from €62,871 to €171,106
- Reserves -€98,860
down €98,860 (-25.4%), from €389,672 to €290,812
- Debts after one year -€37,213
down €37,213 (-26.7%), from €139,614 to €102,401
- Tax, wage and social debts +€20,617
up €20,617 (+108%), from €19,084 to €39,702
- Gross operating margin -€121,990
down €121,990 (-46.6%), from €261,751 to €139,761
- Taxes -€25,290
down €25,290 (-40.3%), from €62,721 to €37,431
- Depreciation -€6,510
down €6,510 (-20.6%), from €31,588 to €25,078
- Financial charges +€2,997
up €2,997 (+55.7%), from €5,378 to €8,375
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 | €667,087 | €660,233 | -€6,854 | -1.0% |
| Fixed assets | 21/28 | €318,565 | €295,140 | -€23,425 | -7.4% |
| Tangible fixed assets | 22/27 | €318,520 | €295,095 | -€23,425 | -7.4% |
| Land and buildings | 22 | €283,487 | €262,741 | -€20,746 | -7.3% |
| Plant, machinery and equipment | 23 | €1,352 | €1,007 | -€345 | -25.5% |
| Other tangible fixed assets | 26 | €33,681 | €31,347 | -€2,334 | -6.9% |
| Financial fixed assets | 28 | €45 | €45 | = | 0.0% |
| Current assets | 29/58 | €348,522 | €365,093 | +€16,571 | +4.8% |
| Amounts receivable within one year | 40/41 | €35,030 | €63,791 | +€28,762 | +82.1% |
| Other amounts receivable | 41 | €35,030 | €63,791 | +€28,762 | +82.1% |
| Current investments | 50/53 | €11,110 | €9,343 | -€1,767 | -15.9% |
| Cash at bank and in hand | 54/58 | €298,939 | €288,169 | -€10,770 | -3.6% |
| Deferred charges and accrued income | 490/1 | €3,444 | €3,790 | +€346 | +10.0% |
| Total equity and liabilities | 10/49 | €667,087 | €660,233 | -€6,854 | -1.0% |
| Equity | 10/15 | €402,072 | €303,212 | -€98,860 | -24.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €389,672 | €290,812 | -€98,860 | -25.4% |
| Distributable reserves | 133 | €389,672 | €290,812 | -€98,860 | -25.4% |
| Amounts payable | 17/49 | €265,014 | €357,020 | +€92,006 | +34.7% |
| Amounts payable after more than one year | 17 | €139,614 | €102,401 | -€37,213 | -26.7% |
| Financial debts | 170/4 | €139,614 | €102,401 | -€37,213 | -26.7% |
| Amounts payable within one year | 42/48 | €125,400 | €254,530 | +€129,130 | +103% |
| Current portion of amounts payable after more than one year | 42 | €36,641 | €37,213 | +€572 | +1.6% |
| Trade debts | 44 | €6,804 | €6,509 | -€295 | -4.3% |
| Suppliers | 440/4 | €6,804 | €6,509 | -€295 | -4.3% |
| Taxes, remuneration and social security | 45 | €19,084 | €39,702 | +€20,617 | +108% |
| Taxes | 450/3 | €19,084 | €39,702 | +€20,617 | +108% |
| Other amounts payable | 47/48 | €62,871 | €171,106 | +€108,236 | +172% |
| Accrued charges and deferred income | 492/3 | - | €90 | +€90 | |
| Non-recurring operating income | 76A | €181,656 | - | -€181,656 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,588 | €25,078 | -€6,510 | -20.6% |
| Other operating charges | 640/8 | €384 | €403 | +€18 | +4.7% |
| Gross operating margin | 9900 | €261,751 | €139,761 | -€121,990 | -46.6% |
| Operating profit (loss) | 9901 | €229,779 | €114,280 | -€115,498 | -50.3% |
| Financial income | 75/76B | €3,687 | €3,903 | +€216 | +5.9% |
| Recurring financial income | 75 | €3,687 | €3,903 | +€216 | +5.9% |
| Financial charges | 65/66B | €5,378 | €8,375 | +€2,997 | +55.7% |
| Recurring financial charges | 65 | €5,378 | €8,375 | +€2,997 | +55.7% |
| Profit (loss) for the period before taxes | 9903 | €228,088 | €109,808 | -€118,280 | -51.9% |
| Income taxes | 67/77 | €62,721 | €37,431 | -€25,290 | -40.3% |
| Profit (loss) for the period | 9904 | €165,367 | €72,378 | -€92,990 | -56.2% |
| Profit (loss) for the period to be appropriated | 9905 | €165,367 | €72,378 | -€92,990 | -56.2% |
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 21 October 2026 via checked.be.