MEDI-URG: 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
MEDI-URG
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€67,344
2024 · €171,828-€104,484
Equity
€675,611
2024 · €638,810+€36,802
Cash
€42,697
2024 · €36,694+€6,004
Balance sheet total
€2.0m
2024 · €2.1m-€103,000
Largest movements
Assets
- Tangible fixed assets -€108,766
down €108,766 (-5.2%), from €2.1m to €2.0m
of which Land and buildings: -€80,491
Equity and liabilities
- Profit (loss) carried forward +€136,588
new in 2025: €136,588
- Debts after one year -€101,158
down €101,158 (-8.7%), from €1.2m to €1.1m
of which Financial debts: -€101,158
- Reserves -€99,787
down €99,787 (-15.8%), from €632,610 to €532,823
of which Tax-exempt reserves: -€69,245
- Other debts -€41,379
down €41,379 (-54.3%), from €76,151 to €34,772
Income statement
- Gross operating margin -€133,469
down €133,469 (-33.3%), from €401,133 to €267,665
- Taxes -€43,021
down €43,021 (-65.8%), from €65,387 to €22,367
- Depreciation +€22,356
up €22,356 (+18.8%), from €119,038 to €141,394
- Financial charges -€7,371
down €7,371 (-17.0%), from €43,397 to €36,026
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
€171,828
Gross operating margin
-€133,469
Depreciation
-€22,356
Provisions
+€369
Other operating charges
+€197
Financial income
+€383
Financial charges
+€7,371
Taxes
+€43,021
Result 2025
€67,344
raises the resultlowers the result
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.
From operations
+€168,865
Investment
-€32,628
Financing
-€130,233
Cash 2024
€36,694
From operations (derived)
+€168,865
Net result for the year
+€67,344
Depreciation
+€141,394
Deferred charges and accrued income
+€238
Provisions
-€4,964
Trade debts
-€9,487
Tax, wage and social debts
+€17,259
Other debts
-€41,379
Accrued charges and deferred income
-€1,539
Investment (derived)
-€32,628
Investment in fixed assets (net)
-€32,628
Financing
-€130,233
Debts after one year
-€101,158
Current portion of long-term debt
+€1,467
Contributions, distributions and other
-€30,542
Cash 2025
€42,697
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,123,996 | €2,020,997 | -€103,000 | -4.8% |
| Fixed assets | 21/28 | €2,085,456 | €1,976,691 | -€108,766 | -5.2% |
| Tangible fixed assets | 22/27 | €2,085,456 | €1,976,691 | -€108,766 | -5.2% |
| Land and buildings | 22 | €2,004,241 | €1,923,749 | -€80,491 | -4.0% |
| Plant, machinery and equipment | 23 | €18,895 | €10,967 | -€7,928 | -42.0% |
| Furniture and vehicles | 24 | €62,320 | €41,974 | -€20,346 | -32.6% |
| Current assets | 29/58 | €38,540 | €44,306 | +€5,766 | +15.0% |
| Cash at bank and in hand | 54/58 | €36,694 | €42,697 | +€6,004 | +16.4% |
| Deferred charges and accrued income | 490/1 | €1,846 | €1,609 | -€238 | -12.9% |
| Total equity and liabilities | 10/49 | €2,123,996 | €2,020,997 | -€103,000 | -4.8% |
| Equity | 10/15 | €638,810 | €675,611 | +€36,802 | +5.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €632,610 | €532,823 | -€99,787 | -15.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €228,776 | €159,531 | -€69,245 | -30.3% |
| Distributable reserves | 133 | €401,974 | €371,432 | -€30,542 | -7.6% |
| Profit (loss) carried forward | 14 | - | €136,588 | +€136,588 | |
| Provisions and deferred taxes | 16 | €104,619 | €99,655 | -€4,964 | -4.7% |
| Provisions for liabilities and charges | 160/5 | €90,578 | €86,085 | -€4,493 | -5.0% |
| Environmental obligations | 163 | €90,578 | €86,085 | -€4,493 | -5.0% |
| Deferred taxes | 168 | €14,041 | €13,570 | -€471 | -3.4% |
| Amounts payable | 17/49 | €1,380,567 | €1,245,730 | -€134,837 | -9.8% |
| Amounts payable after more than one year | 17 | €1,167,898 | €1,066,740 | -€101,158 | -8.7% |
| Financial debts | 170/4 | €1,165,598 | €1,064,440 | -€101,158 | -8.7% |
| Other amounts payable | 178/9 | €2,300 | €2,300 | = | 0.0% |
| Amounts payable within one year | 42/48 | €211,130 | €178,990 | -€32,140 | -15.2% |
| Current portion of amounts payable after more than one year | 42 | €99,691 | €101,158 | +€1,467 | +1.5% |
| Trade debts | 44 | €28,000 | €18,513 | -€9,487 | -33.9% |
| Suppliers | 440/4 | €28,000 | €18,513 | -€9,487 | -33.9% |
| Taxes, remuneration and social security | 45 | €7,287 | €24,547 | +€17,259 | +237% |
| Taxes | 450/3 | €7,287 | €24,547 | +€17,259 | +237% |
| Other amounts payable | 47/48 | €76,151 | €34,772 | -€41,379 | -54.3% |
| Accrued charges and deferred income | 492/3 | €1,539 | - | -€1,539 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €119,038 | €141,394 | +€22,356 | +18.8% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€4,124 | -€4,493 | -€369 | -8.9% |
| Other operating charges | 640/8 | €8,066 | €7,869 | -€197 | -2.4% |
| Gross operating margin | 9900 | €401,133 | €267,665 | -€133,469 | -33.3% |
| Operating profit (loss) | 9901 | €278,153 | €122,895 | -€155,258 | -55.8% |
| Financial income | 75/76B | €1,988 | €2,370 | +€383 | +19.2% |
| Recurring financial income | 75 | €1,988 | €2,370 | +€383 | +19.2% |
| Financial charges | 65/66B | €43,397 | €36,026 | -€7,371 | -17.0% |
| Recurring financial charges | 65 | €43,397 | €36,026 | -€7,371 | -17.0% |
| Profit (loss) for the period before taxes | 9903 | €236,744 | €89,239 | -€147,505 | -62.3% |
| Transfer from deferred taxes | 780 | €471 | €471 | = | 0.0% |
| Income taxes | 67/77 | €65,387 | €22,367 | -€43,021 | -65.8% |
| Profit (loss) for the period | 9904 | €171,828 | €67,344 | -€104,484 | -60.8% |
| Transfer from tax-exempt reserves | 789 | €60,825 | €1,885 | -€58,940 | -96.9% |
| Transfer to tax-exempt reserves | 689 | €105,250 | - | -€105,250 | |
| Profit (loss) for the period to be appropriated | 9905 | €127,403 | €69,228 | -€58,174 | -45.7% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.