MEDECO: 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.
What changed
MEDECO
NACE 46.460, Wholesale of pharmaceutical and medical goods
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€5.8m
2024 · €728,400-€6.5m
Equity
-€2.7m
2024 · €3.2m-€5.8m
Cash
€81,463
2024 · €409,710-€328,247
Balance sheet total
€21.2m
2024 · €27.9m-€6.7m
Largest movements
Assets
- Financial fixed assets -€5.0m
down €5.0m (-20.1%), from €24.9m to €19.9m
of which Affiliated companies: -€5.0m
- Receivables within one year -€1.3m
down €1.3m (-53.1%), from €2.5m to €1.2m
of which Other amounts receivable: -€825,226
- Cash -€328,247
down €328,247 (-80.1%), from €409,710 to €81,463
mainly Debts after one year (-€21.0m) and Net result for the year (-€5.8m)
Equity and liabilities
- Debts after one year -€21.0m
down €21.0m (-100.0%), from €21.0m to €0
- Current portion of long-term debt +€21.0m
new in 2025: €21.0m
- Profit (loss) carried forward -€5.8m
down €5.8m (-290.0%), from -€2.0m to -€7.8m
- Short-term financial debts -€2.5m
down €2.5m (-100.0%), from €2.5m to €0
- Other debts +€1.1m
up €1.1m, from €0 to €1.1m
Income statement
- Financial charges +€5.0m
up €5.0m (+627.9%), from €795,651 to €5.8m
of which Non-recurring financial charges: +€5.0m
- Turnover -€1.4m
down €1.4m (-20.0%), from €7.2m to €5.7m
- Goods and materials -€775,693
down €775,693 (-16.1%), from €4.8m to €4.0m
- Financial income -€700,224
down €700,224 (-46.6%), from €1.5m to €801,635
- Services and other goods +€499,507
up €499,507 (+48.9%), from €1.0m to €1.5m
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.
Result 2024
€728,400
Turnover
-€1.4m
Other operating income
+€106,020
Goods and materials
+€775,693
Services and other goods
-€499,507
Staff costs
+€441,639
Write-downs
+€159,947
Other operating charges
-€10,531
Financial income
-€700,224
Financial charges
-€5.0m
Taxes
-€379,381
Result 2025
-€5.8m
Cash bridge derived
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.
From operations
-€2.8m
Investment
+€5.0m
Financing
-€2.5m
Cash 2024
€409,710
From operations (derived)
-€2.8m
Net result for the year
-€5.8m
Receivables within one year
+€1.3m
Deferred charges and accrued income
-€3,292
Trade debts
+€84,885
Tax, wage and social debts
+€364,947
Other debts
+€1.1m
Accrued charges and deferred income
+€101,333
Investment (derived)
+€5.0m
Investment in fixed assets (net)
+€5.0m
Financing
-€2.5m
Debts after one year
-€21.0m
Current portion of long-term debt
+€21.0m
Short-term financial debts
-€2.5m
Cash 2025
€81,463
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €27,872,327 | €21,218,609 | -€6.7m | -23.9% |
| Fixed assets | 21/28 | €24,896,346 | €19,900,960 | -€5.0m | -20.1% |
| Financial fixed assets | 28 | €24,896,346 | €19,900,960 | -€5.0m | -20.1% |
| Affiliated companies | 280/1 | €24,800,000 | €19,800,000 | -€5.0m | -20.2% |
| Participating interests | 280 | €24,800,000 | €19,800,000 | -€5.0m | -20.2% |
| Other financial fixed assets | 284/8 | €96,346 | €100,960 | +€4,614 | +4.8% |
| Amounts receivable and cash guarantees | 285/8 | €96,346 | €100,960 | +€4,614 | +4.8% |
| Current assets | 29/58 | €2,975,981 | €1,317,648 | -€1.7m | -55.7% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €2,512,340 | €1,178,961 | -€1.3m | -53.1% |
| Trade receivables | 40 | €1,672,253 | €1,164,101 | -€508,152 | -30.4% |
| Other amounts receivable | 41 | €840,087 | €14,861 | -€825,226 | -98.2% |
| Cash at bank and in hand | 54/58 | €409,710 | €81,463 | -€328,247 | -80.1% |
| Deferred charges and accrued income | 490/1 | €53,932 | €57,224 | +€3,292 | +6.1% |
| Total equity and liabilities | 10/49 | €27,872,327 | €21,218,609 | -€6.7m | -23.9% |
| Equity | 10/15 | €3,152,500 | -€2,655,500 | -€5.8m | |
| Contributions | 10/11 | €5,061,500 | €5,061,500 | = | 0.0% |
| Capital | 10 | €5,061,500 | €5,061,500 | = | 0.0% |
| Issued capital | 100 | €5,061,500 | €5,061,500 | = | 0.0% |
| Reserves | 13 | €93,525 | €93,525 | = | 0.0% |
| Non-distributable reserves | 130/1 | €93,525 | €93,525 | = | 0.0% |
| Legal reserve | 130 | €93,525 | €93,525 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,002,524 | -€7,810,525 | -€5.8m | -290.0% |
| Amounts payable | 17/49 | €24,719,827 | €23,874,109 | -€845,718 | -3.4% |
| Amounts payable after more than one year | 17 | €21,000,000 | €0 | -€21.0m | -100.0% |
| Financial debts | 170/4 | €21,000,000 | €0 | -€21.0m | -100.0% |
| Other loans | 174 | €21,000,000 | €0 | -€21.0m | -100.0% |
| Amounts payable within one year | 42/48 | €3,499,886 | €23,552,835 | +€20.1m | +573.0% |
| Current portion of amounts payable after more than one year | 42 | - | €21,000,000 | +€21.0m | |
| Financial debts | 43 | €2,476,789 | €0 | -€2.5m | -100.0% |
| Credit institutions | 430/8 | €2,476,789 | €0 | -€2.5m | -100.0% |
| Trade debts | 44 | €679,801 | €764,685 | +€84,885 | +12.5% |
| Suppliers | 440/4 | €679,801 | €764,685 | +€84,885 | +12.5% |
| Taxes, remuneration and social security | 45 | €343,296 | €708,243 | +€364,947 | +106.3% |
| Taxes | 450/3 | €294,402 | €671,047 | +€376,645 | +127.9% |
| Remuneration and social security | 454/9 | €48,895 | €37,197 | -€11,698 | -23.9% |
| Other amounts payable | 47/48 | €0 | €1,079,906 | +€1.1m | |
| Accrued charges and deferred income | 492/3 | €219,941 | €321,274 | +€101,333 | +46.1% |
| Operating income | 70/76A | €7,153,955 | €5,826,128 | -€1.3m | -18.6% |
| Turnover | 70 | €7,153,955 | €5,720,108 | -€1.4m | -20.0% |
| Other operating income | 74 | - | €106,020 | +€106,020 | |
| Operating charges | 60/66A | €6,901,102 | €6,033,861 | -€867,241 | -12.6% |
| Goods for resale, raw materials and consumables | 60 | €4,817,928 | €4,042,235 | -€775,693 | -16.1% |
| Purchases | 600/8 | €4,817,928 | €4,042,235 | -€775,693 | -16.1% |
| Services and other goods | 61 | €1,021,876 | €1,521,383 | +€499,507 | +48.9% |
| Remuneration, social security and pensions | 62 | €781,356 | €339,716 | -€441,639 | -56.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €48,007 | -€111,940 | -€159,947 | |
| Other operating charges | 640/8 | €231,935 | €242,466 | +€10,531 | +4.5% |
| Operating profit (loss) | 9901 | €252,853 | -€207,733 | -€460,586 | |
| Financial income | 75/76B | €1,501,859 | €801,635 | -€700,224 | -46.6% |
| Recurring financial income | 75 | €1,501,859 | €801,635 | -€700,224 | -46.6% |
| Income from financial fixed assets | 750 | €1,500,000 | €800,000 | -€700,000 | -46.7% |
| Other financial income | 752/9 | €1,859 | €1,635 | -€224 | -12.1% |
| Financial charges | 65/66B | €795,651 | €5,791,861 | +€5.0m | +627.9% |
| Recurring financial charges | 65 | €795,651 | €791,861 | -€3,790 | -0.5% |
| Debt charges | 650 | €791,701 | €789,059 | -€2,642 | -0.3% |
| Other financial charges | 652/9 | €3,950 | €2,801 | -€1,149 | -29.1% |
| Non-recurring financial charges | 66B | €0 | €5,000,000 | +€5.0m | |
| Profit (loss) for the period before taxes | 9903 | €959,062 | -€5,197,958 | -€6.2m | |
| Income taxes | 67/77 | €230,662 | €610,042 | +€379,381 | +164.5% |
| Taxes | 670/3 | €230,662 | €610,042 | +€379,381 | +164.5% |
| Profit (loss) for the period | 9904 | €728,400 | -€5,808,000 | -€6.5m | |
| Profit (loss) for the period to be appropriated | 9905 | €728,400 | -€5,808,000 | -€6.5m |
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 10 October 2026 via checked.be.