MEDICA: 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
MEDICA
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€334,680
2024 · €160,951+€173,729
Equity
€4.6m
2024 · €4.2m+€334,680
Cash
€3,882
2024 · €29,291-€25,409
Balance sheet total
€19.0m
2024 · €19.3m-€257,413
Largest movements
Assets
- Tangible fixed assets -€363,168
down €363,168 (-2.4%), from €14.9m to €14.5m
of which Land and buildings: -€371,297
- Receivables after one year +€210,950
up €210,950 (+5.0%), from €4.2m to €4.4m
Equity and liabilities
- Short-term financial debts -€901,875
down €901,875 (-53.0%), from €1.7m to €800,000
- Reserves +€334,680
up €334,680 (+17.9%), from €1.9m to €2.2m
of which Distributable reserves: +€334,680
Income statement
- Gross operating margin +€293,017
up €293,017 (+30.6%), from €956,427 to €1.2m
- Other operating charges +€75,898
up €75,898 (+90.1%), from €84,257 to €160,155
- Depreciation +€65,889
up €65,889 (+18.0%), from €365,800 to €431,689
- Financial charges -€21,707
down €21,707 (-6.3%), from €344,627 to €322,920
of which Non-recurring financial charges: -€12,244
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
€160,951
Gross operating margin
+€293,017
Depreciation
-€65,889
Write-downs
+€792
Other operating charges
-€75,898
Financial charges
+€21,707
Result 2025
€334,680
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
+€850,727
Investment
-€68,521
Financing
-€807,615
Cash 2024
€29,291
From operations (derived)
+€850,727
Net result for the year
+€334,680
Depreciation
+€431,689
Receivables after one year
-€210,950
Receivables within one year
+€72,789
Deferred charges and accrued income
+€6,997
Trade debts
+€124,950
Tax, wage and social debts
+€78,937
Advances received
+€20,312
Other debts
+€116,549
Accrued charges and deferred income
-€125,226
Investment (derived)
-€68,521
Investment in fixed assets (net)
-€68,521
Financing
-€807,615
Debts after one year
-€57,809
Current portion of long-term debt
+€152,069
Short-term financial debts
-€901,875
Cash 2025
€3,882
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €19,250,614 | €18,993,201 | -€257,413 | -1.3% |
| Fixed assets | 21/28 | €14,897,988 | €14,534,819 | -€363,168 | -2.4% |
| Tangible fixed assets | 22/27 | €14,897,988 | €14,534,819 | -€363,168 | -2.4% |
| Land and buildings | 22 | €14,888,610 | €14,517,314 | -€371,297 | -2.5% |
| Plant, machinery and equipment | 23 | €9,377 | €17,506 | +€8,128 | +86.7% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €4,352,627 | €4,458,382 | +€105,755 | +2.4% |
| Amounts receivable after more than one year | 29 | €4,230,275 | €4,441,225 | +€210,950 | +5.0% |
| Other amounts receivable | 291 | €4,230,275 | €4,441,225 | +€210,950 | +5.0% |
| Amounts receivable within one year | 40/41 | €72,789 | €0 | -€72,789 | -100% |
| Trade receivables | 40 | €69,852 | €0 | -€69,852 | -100% |
| Other amounts receivable | 41 | €2,937 | €0 | -€2,937 | -100% |
| Cash at bank and in hand | 54/58 | €29,291 | €3,882 | -€25,409 | -86.7% |
| Deferred charges and accrued income | 490/1 | €20,272 | €13,275 | -€6,997 | -34.5% |
| Total equity and liabilities | 10/49 | €19,250,614 | €18,993,201 | -€257,413 | -1.3% |
| Equity | 10/15 | €4,230,454 | €4,565,134 | +€334,680 | +7.9% |
| Contributions | 10/11 | €2,365,100 | €2,365,100 | = | 0.0% |
| Capital | 10 | €2,365,100 | €2,365,100 | = | 0.0% |
| Issued capital | 100 | €2,365,100 | €2,365,100 | = | 0.0% |
| Reserves | 13 | €1,865,354 | €2,200,034 | +€334,680 | +17.9% |
| Non-distributable reserves | 130/1 | €236,510 | €236,510 | = | 0.0% |
| Legal reserve | 130 | €236,510 | €236,510 | = | 0.0% |
| Distributable reserves | 133 | €1,628,844 | €1,963,524 | +€334,680 | +20.5% |
| Amounts payable | 17/49 | €15,020,161 | €14,428,067 | -€592,094 | -3.9% |
| Amounts payable after more than one year | 17 | €11,679,036 | €11,621,228 | -€57,809 | -0.5% |
| Financial debts | 170/4 | €11,631,136 | €11,606,928 | -€24,209 | -0.2% |
| Other amounts payable | 178/9 | €47,900 | €14,300 | -€33,600 | -70.1% |
| Amounts payable within one year | 42/48 | €3,215,898 | €2,806,839 | -€409,059 | -12.7% |
| Current portion of amounts payable after more than one year | 42 | €814,206 | €966,274 | +€152,069 | +18.7% |
| Financial debts | 43 | €1,701,875 | €800,000 | -€901,875 | -53.0% |
| Credit institutions | 430/8 | €1,701,875 | €800,000 | -€901,875 | -53.0% |
| Trade debts | 44 | €586,692 | €711,642 | +€124,950 | +21.3% |
| Suppliers | 440/4 | €586,692 | €711,642 | +€124,950 | +21.3% |
| Advances received on contracts in progress | 46 | - | €20,312 | +€20,312 | |
| Taxes, remuneration and social security | 45 | €3,603 | €82,541 | +€78,937 | +2,191% |
| Taxes | 450/3 | €3,603 | €82,541 | +€78,937 | +2,191% |
| Other amounts payable | 47/48 | €109,523 | €226,071 | +€116,549 | +106% |
| Accrued charges and deferred income | 492/3 | €125,226 | €0 | -€125,226 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €365,800 | €431,689 | +€65,889 | +18.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €792 | €0 | -€792 | -100% |
| Other operating charges | 640/8 | €84,257 | €160,155 | +€75,898 | +90.1% |
| Gross operating margin | 9900 | €956,427 | €1,249,444 | +€293,017 | +30.6% |
| Operating profit (loss) | 9901 | €505,578 | €657,600 | +€152,022 | +30.1% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €344,627 | €322,920 | -€21,707 | -6.3% |
| Recurring financial charges | 65 | €332,383 | €322,920 | -€9,463 | -2.8% |
| Non-recurring financial charges | 66B | €12,244 | €0 | -€12,244 | -100% |
| Profit (loss) for the period before taxes | 9903 | €160,951 | €334,680 | +€173,729 | +108% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | €160,951 | €334,680 | +€173,729 | +108% |
| Profit (loss) for the period to be appropriated | 9905 | €160,951 | €334,680 | +€173,729 | +108% |
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 18 October 2026 via checked.be.