MEDI 55: what changed
Two fiscal 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.
MEDI 55
Largest movements
- Receivables within one year +€48,056
up €48,056 (+151.4%), from €31,734 to €79,790
of which Other amounts receivable: +€48,813
- Cash +€30,652
up €30,652 (+10.1%), from €304,386 to €335,038
mainly Net result for the year (+€89,777) and Depreciation (+€30,068)
- Tangible fixed assets -€28,945
down €28,945 (-14.0%), from €206,250 to €177,305
of which Land and buildings: -€21,347
- Deferred charges and accrued income +€9,357
up €9,357 (+32.1%), from €29,168 to €38,525
- Reserves +€89,777
up €89,777 (+19.1%), from €470,965 to €560,742
- Debts after one year -€19,498
no longer reported in 2025 (was €19,498)
- Current portion of long-term debt -€12,647
down €12,647 (-39.3%), from €32,145 to €19,498
- Staff costs +€34,620
up €34,620 (+159.0%), from €21,770 to €56,390
- Gross operating margin -€20,697
down €20,697 (-8.7%), from €238,902 to €218,205
- Taxes -€18,336
down €18,336 (-33.3%), from €55,067 to €36,731
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €572,538 | €631,659 | +€59,121 | +10.3% |
| Fixed assets | 21/28 | €207,250 | €178,305 | -€28,945 | -14.0% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €206,250 | €177,305 | -€28,945 | -14.0% |
| Land and buildings | 22 | €163,443 | €142,097 | -€21,347 | -13.1% |
| Plant, machinery and equipment | 23 | €41,550 | €33,124 | -€8,427 | -20.3% |
| Furniture and vehicles | 24 | €1,256 | €2,085 | +€828 | +65.9% |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €365,288 | €453,354 | +€88,066 | +24.1% |
| Amounts receivable within one year | 40/41 | €31,734 | €79,790 | +€48,056 | +151.4% |
| Trade receivables | 40 | €757 | - | -€757 | |
| Other amounts receivable | 41 | €30,977 | €79,790 | +€48,813 | +157.6% |
| Cash at bank and in hand | 54/58 | €304,386 | €335,038 | +€30,652 | +10.1% |
| Deferred charges and accrued income | 490/1 | €29,168 | €38,525 | +€9,357 | +32.1% |
| Total equity and liabilities | 10/49 | €572,538 | €631,659 | +€59,121 | +10.3% |
| Equity | 10/15 | €477,688 | €567,465 | +€89,777 | +18.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €470,965 | €560,742 | +€89,777 | +19.1% |
| Distributable reserves | 133 | €470,965 | €560,742 | +€89,777 | +19.1% |
| Profit (loss) carried forward | 14 | €523 | €523 | = | 0.0% |
| Amounts payable | 17/49 | €94,850 | €64,194 | -€30,656 | -32.3% |
| Amounts payable after more than one year | 17 | €19,498 | - | -€19,498 | |
| Financial debts | 170/4 | €19,498 | - | -€19,498 | |
| Amounts payable within one year | 42/48 | €73,105 | €58,873 | -€14,232 | -19.5% |
| Current portion of amounts payable after more than one year | 42 | €32,145 | €19,498 | -€12,647 | -39.3% |
| Trade debts | 44 | €931 | €4,573 | +€3,642 | +391.1% |
| Suppliers | 440/4 | €931 | €4,573 | +€3,642 | +391.1% |
| Taxes, remuneration and social security | 45 | €40,029 | €34,801 | -€5,227 | -13.1% |
| Taxes | 450/3 | €37,099 | €27,254 | -€9,845 | -26.5% |
| Remuneration and social security | 454/9 | €2,930 | €7,547 | +€4,618 | +157.6% |
| Accrued charges and deferred income | 492/3 | €2,248 | €5,322 | +€3,074 | +136.7% |
| Remuneration, social security and pensions | 62 | €21,770 | €56,390 | +€34,620 | +159.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,731 | €30,068 | -€663 | -2.2% |
| Other operating charges | 640/8 | €2,798 | €2,835 | +€36 | +1.3% |
| Gross operating margin | 9900 | €238,902 | €218,205 | -€20,697 | -8.7% |
| Operating profit (loss) | 9901 | €183,602 | €128,913 | -€54,689 | -29.8% |
| Financial income | 75/76B | €1 | €2 | +€1 | +120.2% |
| Recurring financial income | 75 | €1 | €2 | +€1 | +120.2% |
| Financial charges | 65/66B | €4,246 | €2,407 | -€1,839 | -43.3% |
| Recurring financial charges | 65 | €4,246 | €2,407 | -€1,839 | -43.3% |
| Profit (loss) for the period before taxes | 9903 | €179,358 | €126,508 | -€52,849 | -29.5% |
| Income taxes | 67/77 | €55,067 | €36,731 | -€18,336 | -33.3% |
| Profit (loss) for the period | 9904 | €124,290 | €89,777 | -€34,513 | -27.8% |
| Profit (loss) for the period to be appropriated | 9905 | €124,290 | €89,777 | -€34,513 | -27.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.