GL medEx: 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.
GL medEx
Largest movements
- Deferred charges and accrued income -€52,945
down €52,945 (-92.4%), from €57,299 to €4,353
- Receivables within one year +€26,406
new in 2025: €26,406
- Cash -€22,524
down €22,524 (-36.5%), from €61,728 to €39,204
mainly Contributions, distributions and other (-€45,678) and Other debts (-€28,467)
- Tangible fixed assets -€16,365
down €16,365 (-13.2%), from €123,941 to €107,577
of which Other tangible fixed assets: -€13,930
- Other debts -€28,467
no longer reported in 2025 (was €28,467)
- Reserves -€14,863
down €14,863 (-88.9%), from €16,723 to €1,860
- Tax, wage and social debts -€11,643
down €11,643 (-15.7%), from €74,161 to €62,518
- Debts after one year -€10,811
down €10,811 (-11.0%), from €98,566 to €87,755
- Gross operating margin -€93,672
down €93,672 (-59.5%), from €157,468 to €63,796
- Taxes -€23,173
down €23,173 (-64.9%), from €35,712 to €12,540
- Financial income +€1,766
up €1,766 (+1,605,427%), from €0 to €1,766
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 | €243,010 | €177,583 | -€65,427 | -26.9% |
| Fixed assets | 21/28 | €123,941 | €107,577 | -€16,365 | -13.2% |
| Tangible fixed assets | 22/27 | €123,941 | €107,577 | -€16,365 | -13.2% |
| Furniture and vehicles | 24 | €5,784 | €3,350 | -€2,434 | -42.1% |
| Other tangible fixed assets | 26 | €118,157 | €104,227 | -€13,930 | -11.8% |
| Current assets | 29/58 | €119,069 | €70,006 | -€49,063 | -41.2% |
| Amounts receivable within one year | 40/41 | - | €26,406 | +€26,406 | |
| Other amounts receivable | 41 | - | €26,406 | +€26,406 | |
| Current investments | 50/53 | €42 | €43 | +€0 | +0.5% |
| Cash at bank and in hand | 54/58 | €61,728 | €39,204 | -€22,524 | -36.5% |
| Deferred charges and accrued income | 490/1 | €57,299 | €4,353 | -€52,945 | -92.4% |
| Total equity and liabilities | 10/49 | €243,010 | €177,583 | -€65,427 | -26.9% |
| Equity | 10/15 | €29,123 | €14,260 | -€14,863 | -51.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €16,723 | €1,860 | -€14,863 | -88.9% |
| Distributable reserves | 133 | €16,723 | €1,860 | -€14,863 | -88.9% |
| Amounts payable | 17/49 | €213,886 | €163,323 | -€50,564 | -23.6% |
| Amounts payable after more than one year | 17 | €98,566 | €87,755 | -€10,811 | -11.0% |
| Financial debts | 170/4 | €98,566 | €87,755 | -€10,811 | -11.0% |
| Amounts payable within one year | 42/48 | €115,320 | €75,568 | -€39,753 | -34.5% |
| Current portion of amounts payable after more than one year | 42 | €10,435 | €10,811 | +€377 | +3.6% |
| Trade debts | 44 | €2,257 | €2,238 | -€19 | -0.9% |
| Suppliers | 440/4 | €2,257 | €2,238 | -€19 | -0.9% |
| Taxes, remuneration and social security | 45 | €74,161 | €62,518 | -€11,643 | -15.7% |
| Taxes | 450/3 | €74,161 | €62,518 | -€11,643 | -15.7% |
| Other amounts payable | 47/48 | €28,467 | - | -€28,467 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,139 | €16,365 | +€226 | +1.4% |
| Other operating charges | 640/8 | €813 | €925 | +€112 | +13.8% |
| Gross operating margin | 9900 | €157,468 | €63,796 | -€93,672 | -59.5% |
| Operating profit (loss) | 9901 | €140,516 | €46,506 | -€94,010 | -66.9% |
| Financial income | 75/76B | €0 | €1,766 | +€1,766 | +1,605,427% |
| Recurring financial income | 75 | €0 | €1,766 | +€1,766 | +1,605,427% |
| Financial charges | 65/66B | €5,065 | €4,918 | -€147 | -2.9% |
| Recurring financial charges | 65 | €5,065 | €4,918 | -€147 | -2.9% |
| Profit (loss) for the period before taxes | 9903 | €135,450 | €43,354 | -€92,096 | -68.0% |
| Income taxes | 67/77 | €35,712 | €12,540 | -€23,173 | -64.9% |
| Profit (loss) for the period | 9904 | €99,738 | €30,814 | -€68,924 | -69.1% |
| Profit (loss) for the period to be appropriated | 9905 | €99,738 | €30,814 | -€68,924 | -69.1% |
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 13 October 2026 via checked.be.