MEDICAGENOR: what changed
MEDICAGENOR
Largest movements
- Current investments +€89,463
up €89,463 (+18.0%), from €497,411 to €586,873
- Cash +€46,722
up €46,722 (+11.4%), from €410,802 to €457,525
mainly Net result for the year (+€212,209) and Other debts (+€190,595)
- Tangible fixed assets -€22,995
down €22,995 (-26.8%), from €85,758 to €62,763
of which Furniture and vehicles: -€20,251
- Other debts +€190,595
up €190,595 (+624%), from €30,520 to €221,116
- Tax, wage and social debts -€36,035
down €36,035 (-68.2%), from €52,873 to €16,838
- Reserves -€24,181
down €24,181 (-2.9%), from €830,175 to €805,995
of which Distributable reserves: -€24,181
- Debts after one year -€18,398
down €18,398 (-42.9%), from €42,931 to €24,533
- Gross operating margin -€138,638
down €138,638 (-28.8%), from €482,016 to €343,378
- Taxes -€45,222
down €45,222 (-31.9%), from €141,866 to €96,644
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €995,228 | €1,110,653 | +€115,424 | +11.6% |
| Fixed assets | 21/28 | €85,758 | €62,763 | -€22,995 | -26.8% |
| Tangible fixed assets | 22/27 | €85,758 | €62,763 | -€22,995 | -26.8% |
| Plant, machinery and equipment | 23 | €8,233 | €5,489 | -€2,744 | -33.3% |
| Furniture and vehicles | 24 | €77,525 | €57,274 | -€20,251 | -26.1% |
| Current assets | 29/58 | €909,470 | €1,047,890 | +€138,419 | +15.2% |
| Amounts receivable within one year | 40/41 | - | €2,254 | +€2,254 | |
| Other amounts receivable | 41 | - | €2,254 | +€2,254 | |
| Current investments | 50/53 | €497,411 | €586,873 | +€89,463 | +18.0% |
| Cash at bank and in hand | 54/58 | €410,802 | €457,525 | +€46,722 | +11.4% |
| Deferred charges and accrued income | 490/1 | €1,258 | €1,238 | -€20 | -1.6% |
| Total equity and liabilities | 10/49 | €995,228 | €1,110,653 | +€115,424 | +11.6% |
| Equity | 10/15 | €852,288 | €828,111 | -€24,176 | -2.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €830,175 | €805,995 | -€24,181 | -2.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €828,315 | €804,135 | -€24,181 | -2.9% |
| Profit (loss) carried forward | 14 | €3,513 | €3,517 | +€4 | +0.1% |
| Amounts payable | 17/49 | €142,941 | €282,541 | +€139,601 | +97.7% |
| Amounts payable after more than one year | 17 | €42,931 | €24,533 | -€18,398 | -42.9% |
| Financial debts | 170/4 | €42,931 | €24,533 | -€18,398 | -42.9% |
| Amounts payable within one year | 42/48 | €99,605 | €258,009 | +€158,404 | +159% |
| Current portion of amounts payable after more than one year | 42 | €14,961 | €18,398 | +€3,437 | +23.0% |
| Trade debts | 44 | €1,250 | €1,657 | +€406 | +32.5% |
| Suppliers | 440/4 | €1,250 | €1,657 | +€406 | +32.5% |
| Taxes, remuneration and social security | 45 | €52,873 | €16,838 | -€36,035 | -68.2% |
| Taxes | 450/3 | €52,873 | €16,838 | -€36,035 | -68.2% |
| Other amounts payable | 47/48 | €30,520 | €221,116 | +€190,595 | +624% |
| Accrued charges and deferred income | 492/3 | €405 | €0 | -€405 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,351 | €28,468 | +€117 | +0.4% |
| Other operating charges | 640/8 | €875 | €752 | -€124 | -14.1% |
| Gross operating margin | 9900 | €482,016 | €343,378 | -€138,638 | -28.8% |
| Operating profit (loss) | 9901 | €452,789 | €314,159 | -€138,630 | -30.6% |
| Financial income | 75/76B | - | €212 | +€212 | |
| Recurring financial income | 75 | - | €212 | +€212 | |
| Financial charges | 65/66B | €1,493 | €5,518 | +€4,026 | +270% |
| Recurring financial charges | 65 | €1,493 | €5,518 | +€4,026 | +270% |
| Profit (loss) for the period before taxes | 9903 | €451,297 | €308,853 | -€142,444 | -31.6% |
| Income taxes | 67/77 | €141,866 | €96,644 | -€45,222 | -31.9% |
| Profit (loss) for the period | 9904 | €309,431 | €212,209 | -€97,222 | -31.4% |
| Profit (loss) for the period to be appropriated | 9905 | €309,431 | €212,209 | -€97,222 | -31.4% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.