GR Médical: what changed
GR Médical
Largest movements
- Tangible fixed assets +€241,434
up €241,434 (+63.1%), from €382,326 to €623,761
of which Other tangible fixed assets: +€200,205
- Cash -€33,429
down €33,429 (-24.4%), from €136,815 to €103,386
mainly Investment in fixed assets (net) (-€299,604) and Debts after one year (-€34,933)
- Receivables within one year -€23,153
down €23,153 (-83.3%), from €27,802 to €4,649
of which Other amounts receivable: -€15,437
- Deferred charges and accrued income -€15,499
down €15,499 (-50.2%), from €30,851 to €15,351
- Reserves +€114,553
up €114,553 (+117%), from €98,000 to €212,553
- Other debts +€44,443
up €44,443 (+73.4%), from €60,549 to €104,993
- Debts after one year -€34,933
down €34,933 (-10.9%), from €321,714 to €286,781
- Trade debts +€20,313
up €20,313 (+6,770%), from €300 to €20,613
- Tax, wage and social debts +€12,926
up €12,926 (+23.7%), from €54,541 to €67,467
of which Taxes: +€8,622
- Gross operating margin +€144,629
up €144,629 (+91.6%), from €157,879 to €302,508
- Staff costs +€45,053
new in 2025: €45,053
- Depreciation +€37,166
up €37,166 (+166%), from €22,443 to €59,609
- Other operating charges +€19,702
up €19,702 (+1,942%), from €1,015 to €20,717
- Taxes +€18,192
up €18,192 (+64.2%), from €28,318 to €46,510
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €583,900 | €751,812 | +€167,913 | +28.8% |
| Fixed assets | 21/28 | €388,431 | €628,426 | +€239,994 | +61.8% |
| Intangible fixed assets | 21 | €6,105 | €4,665 | -€1,440 | -23.6% |
| Tangible fixed assets | 22/27 | €382,326 | €623,761 | +€241,434 | +63.1% |
| Plant, machinery and equipment | 23 | €3,675 | €38,378 | +€34,703 | +944% |
| Furniture and vehicles | 24 | €18,293 | €24,819 | +€6,526 | +35.7% |
| Other tangible fixed assets | 26 | €360,359 | €560,564 | +€200,205 | +55.6% |
| Current assets | 29/58 | €195,468 | €123,386 | -€72,082 | -36.9% |
| Amounts receivable within one year | 40/41 | €27,802 | €4,649 | -€23,153 | -83.3% |
| Trade receivables | 40 | €12,366 | €4,649 | -€7,717 | -62.4% |
| Other amounts receivable | 41 | €15,437 | €0 | -€15,437 | -100% |
| Cash at bank and in hand | 54/58 | €136,815 | €103,386 | -€33,429 | -24.4% |
| Deferred charges and accrued income | 490/1 | €30,851 | €15,351 | -€15,499 | -50.2% |
| Total equity and liabilities | 10/49 | €583,900 | €751,812 | +€167,913 | +28.8% |
| Equity | 10/15 | €118,509 | €232,553 | +€114,044 | +96.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Capital | 10 | €20,000 | - | -€20,000 | |
| Issued capital | 100 | €20,000 | - | -€20,000 | |
| Reserves | 13 | €98,000 | €212,553 | +€114,553 | +117% |
| Distributable reserves | 133 | €98,000 | €212,553 | +€114,553 | +117% |
| Profit (loss) carried forward | 14 | €509 | €0 | -€509 | -100% |
| Amounts payable | 17/49 | €465,390 | €519,259 | +€53,869 | +11.6% |
| Amounts payable after more than one year | 17 | €321,714 | €286,781 | -€34,933 | -10.9% |
| Financial debts | 170/4 | €321,714 | €286,781 | -€34,933 | -10.9% |
| Amounts payable within one year | 42/48 | €143,677 | €228,005 | +€84,328 | +58.7% |
| Current portion of amounts payable after more than one year | 42 | €28,286 | €34,933 | +€6,646 | +23.5% |
| Trade debts | 44 | €300 | €20,613 | +€20,313 | +6,770% |
| Suppliers | 440/4 | €300 | €20,613 | +€20,313 | +6,770% |
| Taxes, remuneration and social security | 45 | €54,541 | €67,467 | +€12,926 | +23.7% |
| Taxes | 450/3 | €54,541 | €63,163 | +€8,622 | +15.8% |
| Remuneration and social security | 454/9 | - | €4,304 | +€4,304 | |
| Other amounts payable | 47/48 | €60,549 | €104,993 | +€44,443 | +73.4% |
| Accrued charges and deferred income | 492/3 | - | €4,473 | +€4,473 | |
| Remuneration, social security and pensions | 62 | - | €45,053 | +€45,053 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,443 | €59,609 | +€37,166 | +166% |
| Other operating charges | 640/8 | €1,015 | €20,717 | +€19,702 | +1,942% |
| Gross operating margin | 9900 | €157,879 | €302,508 | +€144,629 | +91.6% |
| Operating profit (loss) | 9901 | €134,422 | €177,129 | +€42,707 | +31.8% |
| Financial income | 75/76B | €8 | €0 | -€8 | -100% |
| Recurring financial income | 75 | €8 | €0 | -€8 | -100% |
| Financial charges | 65/66B | €7,602 | €16,575 | +€8,973 | +118% |
| Recurring financial charges | 65 | €7,602 | €16,575 | +€8,973 | +118% |
| Profit (loss) for the period before taxes | 9903 | €126,828 | €160,554 | +€33,726 | +26.6% |
| Income taxes | 67/77 | €28,318 | €46,510 | +€18,192 | +64.2% |
| Profit (loss) for the period | 9904 | €98,509 | €114,044 | +€15,535 | +15.8% |
| Profit (loss) for the period to be appropriated | 9905 | €98,509 | €114,044 | +€15,535 | +15.8% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.