MEDICE: 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.
MEDICE
Largest movements
- Cash +€136,546
up €136,546 (+31.8%), from €429,663 to €566,209
mainly Net result for the year (+€200,130) and Tax, wage and social debts (+€60,064)
- Receivables after one year +€60,000
up €60,000 (+33.3%), from €180,000 to €240,000
- Tangible fixed assets -€40,861
down €40,861 (-11.6%), from €350,948 to €310,086
of which Land and buildings: -€21,652
- Receivables within one year -€12,597
down €12,597 (-9.1%), from €138,415 to €125,818
of which Other amounts receivable: -€35,210
- Reserves +€200,130
up €200,130 (+27.9%), from €717,041 to €917,171
of which Distributable reserves: +€200,130
- Other debts -€120,142
down €120,142 (-97.3%), from €123,500 to €3,358
- Tax, wage and social debts +€60,064
up €60,064 (+48.1%), from €124,830 to €184,894
of which Taxes: +€41,842
- Trade debts +€31,501
up €31,501 (+413.8%), from €7,612 to €39,113
- Debts after one year -€15,246
down €15,246 (-18.8%), from €81,233 to €65,987
- Gross operating margin +€55,377
up €55,377 (+10.4%), from €532,473 to €587,849
- Staff costs +€35,870
up €35,870 (+17.1%), from €209,331 to €245,202
- Financial income -€6,338
down €6,338 (-83.6%), from €7,585 to €1,247
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 | €1,100,872 | €1,244,370 | +€143,497 | +13.0% |
| Fixed assets | 21/28 | €350,948 | €310,086 | -€40,861 | -11.6% |
| Tangible fixed assets | 22/27 | €350,948 | €310,086 | -€40,861 | -11.6% |
| Land and buildings | 22 | €279,918 | €258,266 | -€21,652 | -7.7% |
| Plant, machinery and equipment | 23 | €3,560 | €4,690 | +€1,129 | +31.7% |
| Furniture and vehicles | 24 | €53,397 | €37,119 | -€16,278 | -30.5% |
| Other tangible fixed assets | 26 | €14,072 | €10,012 | -€4,060 | -28.9% |
| Current assets | 29/58 | €749,925 | €934,283 | +€184,358 | +24.6% |
| Amounts receivable after more than one year | 29 | €180,000 | €240,000 | +€60,000 | +33.3% |
| Other amounts receivable | 291 | €180,000 | €240,000 | +€60,000 | +33.3% |
| Amounts receivable within one year | 40/41 | €138,415 | €125,818 | -€12,597 | -9.1% |
| Trade receivables | 40 | €103,205 | €125,818 | +€22,613 | +21.9% |
| Other amounts receivable | 41 | €35,210 | €0 | -€35,210 | -100.0% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €429,663 | €566,209 | +€136,546 | +31.8% |
| Deferred charges and accrued income | 490/1 | €1,847 | €2,257 | +€410 | +22.2% |
| Total equity and liabilities | 10/49 | €1,100,872 | €1,244,370 | +€143,497 | +13.0% |
| Equity | 10/15 | €735,641 | €935,771 | +€200,130 | +27.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €717,041 | €917,171 | +€200,130 | +27.9% |
| Non-distributable reserves | 130/1 | €10,860 | €10,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €10,860 | €10,860 | = | 0.0% |
| Distributable reserves | 133 | €706,181 | €906,311 | +€200,130 | +28.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €365,231 | €308,598 | -€56,633 | -15.5% |
| Amounts payable after more than one year | 17 | €81,233 | €65,987 | -€15,246 | -18.8% |
| Financial debts | 170/4 | €81,233 | €65,987 | -€15,246 | -18.8% |
| Amounts payable within one year | 42/48 | €270,845 | €242,611 | -€28,234 | -10.4% |
| Current portion of amounts payable after more than one year | 42 | €14,903 | €15,246 | +€344 | +2.3% |
| Trade debts | 44 | €7,612 | €39,113 | +€31,501 | +413.8% |
| Suppliers | 440/4 | €7,612 | €39,113 | +€31,501 | +413.8% |
| Taxes, remuneration and social security | 45 | €124,830 | €184,894 | +€60,064 | +48.1% |
| Taxes | 450/3 | €76,164 | €118,005 | +€41,842 | +54.9% |
| Remuneration and social security | 454/9 | €48,667 | €66,889 | +€18,222 | +37.4% |
| Other amounts payable | 47/48 | €123,500 | €3,358 | -€120,142 | -97.3% |
| Accrued charges and deferred income | 492/3 | €13,153 | €0 | -€13,153 | -100.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €209,331 | €245,202 | +€35,870 | +17.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,097 | €43,785 | +€688 | +1.6% |
| Other operating charges | 640/8 | €4,797 | €3,251 | -€1,546 | -32.2% |
| Gross operating margin | 9900 | €532,473 | €587,849 | +€55,377 | +10.4% |
| Operating profit (loss) | 9901 | €275,247 | €295,611 | +€20,364 | +7.4% |
| Financial income | 75/76B | €7,585 | €1,247 | -€6,338 | -83.6% |
| Recurring financial income | 75 | €7,585 | €1,247 | -€6,338 | -83.6% |
| Financial charges | 65/66B | €2,762 | €2,429 | -€333 | -12.1% |
| Recurring financial charges | 65 | €2,762 | €2,429 | -€333 | -12.1% |
| Profit (loss) for the period before taxes | 9903 | €280,070 | €294,430 | +€14,360 | +5.1% |
| Income taxes | 67/77 | €90,819 | €94,299 | +€3,480 | +3.8% |
| Profit (loss) for the period | 9904 | €189,250 | €200,130 | +€10,880 | +5.7% |
| Profit (loss) for the period to be appropriated | 9905 | €189,250 | €200,130 | +€10,880 | +5.7% |
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 9 October 2026 via checked.be.