MD MEDICAL: what changed
MD MEDICAL
Largest movements
- Tangible fixed assets -€132,551
down €132,551 (-21.7%), from €610,008 to €477,457
of which Land and buildings: -€112,977
- Cash +€13,314
up €13,314 (+322%), from €4,141 to €17,455
mainly Investment in fixed assets (net) (+€86,997) and Depreciation (+€45,553)
- Debts after one year -€60,925
down €60,925 (-25.6%), from €238,257 to €177,332
- Reserves -€52,525
down €52,525 (-33.3%), from €157,525 to €105,000
- Other debts +€39,554
up €39,554 (+36.1%), from €109,518 to €149,072
- Tax, wage and social debts -€28,244
down €28,244 (-90.1%), from €31,360 to €3,116
- Current portion of long-term debt -€10,485
down €10,485 (-19.1%), from €54,955 to €44,471
- Other operating charges -€4,931
down €4,931 (-48.6%), from €10,143 to €5,212
- Gross operating margin -€4,315
down €4,315 (-4.0%), from €107,189 to €102,873
- Taxes -€1,668
down €1,668 (-12.1%), from €13,777 to €12,109
- Depreciation +€1,661
up €1,661 (+3.8%), from €43,892 to €45,553
- Financial charges +€1,465
up €1,465 (+19.9%), from €7,366 to €8,830
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 | €619,772 | €501,929 | -€117,842 | -19.0% |
| Fixed assets | 21/28 | €610,327 | €477,777 | -€132,551 | -21.7% |
| Tangible fixed assets | 22/27 | €610,008 | €477,457 | -€132,551 | -21.7% |
| Land and buildings | 22 | €525,898 | €412,921 | -€112,977 | -21.5% |
| Furniture and vehicles | 24 | €401 | - | -€401 | |
| Leasing and similar rights | 25 | €83,709 | €64,537 | -€19,172 | -22.9% |
| Financial fixed assets | 28 | €319 | €319 | = | 0.0% |
| Current assets | 29/58 | €9,444 | €24,152 | +€14,708 | +156% |
| Amounts receivable within one year | 40/41 | €3,582 | €2,129 | -€1,453 | -40.6% |
| Trade receivables | 40 | - | €899 | +€899 | |
| Other amounts receivable | 41 | €3,582 | €1,230 | -€2,352 | -65.7% |
| Cash at bank and in hand | 54/58 | €4,141 | €17,455 | +€13,314 | +322% |
| Deferred charges and accrued income | 490/1 | €1,721 | €4,568 | +€2,847 | +165% |
| Total equity and liabilities | 10/49 | €619,772 | €501,929 | -€117,842 | -19.0% |
| Equity | 10/15 | €174,147 | €121,631 | -€52,516 | -30.2% |
| Contributions | 10/11 | €14,260 | €14,260 | = | 0.0% |
| Reserves | 13 | €157,525 | €105,000 | -€52,525 | -33.3% |
| Distributable reserves | 133 | €157,525 | €105,000 | -€52,525 | -33.3% |
| Profit (loss) carried forward | 14 | €2,362 | €2,371 | +€9 | +0.4% |
| Amounts payable | 17/49 | €445,624 | €380,298 | -€65,326 | -14.7% |
| Amounts payable after more than one year | 17 | €238,257 | €177,332 | -€60,925 | -25.6% |
| Financial debts | 170/4 | €238,257 | €177,332 | -€60,925 | -25.6% |
| Amounts payable within one year | 42/48 | €207,367 | €202,966 | -€4,401 | -2.1% |
| Current portion of amounts payable after more than one year | 42 | €54,955 | €44,471 | -€10,485 | -19.1% |
| Trade debts | 44 | €11,534 | €6,307 | -€5,227 | -45.3% |
| Suppliers | 440/4 | €11,534 | €6,307 | -€5,227 | -45.3% |
| Taxes, remuneration and social security | 45 | €31,360 | €3,116 | -€28,244 | -90.1% |
| Taxes | 450/3 | €31,360 | €3,116 | -€28,244 | -90.1% |
| Other amounts payable | 47/48 | €109,518 | €149,072 | +€39,554 | +36.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,892 | €45,553 | +€1,661 | +3.8% |
| Other operating charges | 640/8 | €10,143 | €5,212 | -€4,931 | -48.6% |
| Gross operating margin | 9900 | €107,189 | €102,873 | -€4,315 | -4.0% |
| Operating profit (loss) | 9901 | €53,153 | €52,108 | -€1,045 | -2.0% |
| Financial income | 75/76B | €1 | €0 | -€1 | -86.1% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -86.1% |
| Financial charges | 65/66B | €7,366 | €8,830 | +€1,465 | +19.9% |
| Recurring financial charges | 65 | €7,366 | €8,830 | +€1,465 | +19.9% |
| Profit (loss) for the period before taxes | 9903 | €45,788 | €43,278 | -€2,510 | -5.5% |
| Income taxes | 67/77 | €13,777 | €12,109 | -€1,668 | -12.1% |
| Profit (loss) for the period | 9904 | €32,011 | €31,169 | -€842 | -2.6% |
| Profit (loss) for the period to be appropriated | 9905 | €32,011 | €31,169 | -€842 | -2.6% |
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 5 November 2026 via checked.be.