MD SANTE: 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.
MD SANTE
Largest movements
- Cash +€27,738
up €27,738 (+95.6%), from €29,010 to €56,748
mainly Net result for the year (+€28,396) and Receivables within one year (+€4,703)
- Receivables within one year -€4,703
no longer reported in 2025 (was €4,703)
- Deferred charges and accrued income +€855
up €855 (+324%), from €264 to €1,119
- Profit (loss) carried forward +€27,563
up €27,563 (+158%), from €17,496 to €45,058
- Accrued charges and deferred income -€1,815
no longer reported in 2025 (was €1,815)
- Tax, wage and social debts -€1,417
down €1,417 (-14.6%), from €9,724 to €8,307
of which Remuneration and social security: -€2,080
- Trade debts -€834
down €834 (-96.7%), from €863 to €28
- Gross operating margin +€13,455
up €13,455 (+56.2%), from €23,931 to €37,386
- Taxes +€2,663
up €2,663 (+57.3%), from €4,644 to €7,307
- Depreciation +€713
up €713 (+136%), from €526 to €1,239
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 | €38,422 | €61,714 | +€23,292 | +60.6% |
| Fixed assets | 21/28 | €4,446 | €3,847 | -€599 | -13.5% |
| Tangible fixed assets | 22/27 | €4,446 | €3,847 | -€599 | -13.5% |
| Furniture and vehicles | 24 | €4,446 | €3,847 | -€599 | -13.5% |
| Current assets | 29/58 | €33,976 | €57,867 | +€23,891 | +70.3% |
| Amounts receivable within one year | 40/41 | €4,703 | - | -€4,703 | |
| Trade receivables | 40 | €4,703 | - | -€4,703 | |
| Cash at bank and in hand | 54/58 | €29,010 | €56,748 | +€27,738 | +95.6% |
| Deferred charges and accrued income | 490/1 | €264 | €1,119 | +€855 | +324% |
| Total equity and liabilities | 10/49 | €38,422 | €61,714 | +€23,292 | +60.6% |
| Equity | 10/15 | €22,496 | €50,058 | +€27,563 | +123% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €17,496 | €45,058 | +€27,563 | +158% |
| Amounts payable | 17/49 | €15,926 | €11,656 | -€4,271 | -26.8% |
| Amounts payable within one year | 42/48 | €14,111 | €11,656 | -€2,456 | -17.4% |
| Trade debts | 44 | €863 | €28 | -€834 | -96.7% |
| Suppliers | 440/4 | €863 | €28 | -€834 | -96.7% |
| Taxes, remuneration and social security | 45 | €9,724 | €8,307 | -€1,417 | -14.6% |
| Taxes | 450/3 | €7,644 | €8,307 | +€663 | +8.7% |
| Remuneration and social security | 454/9 | €2,080 | - | -€2,080 | |
| Other amounts payable | 47/48 | €3,524 | €3,320 | -€204 | -5.8% |
| Accrued charges and deferred income | 492/3 | €1,815 | - | -€1,815 | |
| Remuneration, social security and pensions | 62 | - | €9 | +€9 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €526 | €1,239 | +€713 | +136% |
| Other operating charges | 640/8 | - | €151 | +€151 | |
| Gross operating margin | 9900 | €23,931 | €37,386 | +€13,455 | +56.2% |
| Operating profit (loss) | 9901 | €23,405 | €35,987 | +€12,582 | +53.8% |
| Financial charges | 65/66B | €406 | €284 | -€122 | -30.1% |
| Recurring financial charges | 65 | €406 | €284 | -€122 | -30.1% |
| Profit (loss) for the period before taxes | 9903 | €22,999 | €35,703 | +€12,704 | +55.2% |
| Income taxes | 67/77 | €4,644 | €7,307 | +€2,663 | +57.3% |
| Profit (loss) for the period | 9904 | €18,355 | €28,396 | +€10,041 | +54.7% |
| Profit (loss) for the period to be appropriated | 9905 | €18,355 | €28,396 | +€10,041 | +54.7% |
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 15 October 2026 via checked.be.