MEDICEPA: 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.
MEDICEPA
Largest movements
- Tangible fixed assets +€25,291
up €25,291 (+33.7%), from €75,063 to €100,354
of which Plant, machinery and equipment: +€28,234
- Receivables within one year +€14,477
up €14,477 (+37.5%), from €38,633 to €53,109
of which Other amounts receivable: +€16,622
- Cash -€7,722
down €7,722 (-37.0%), from €20,850 to €13,128
mainly Investment in fixed assets (net) (-€36,229) and Receivables within one year (-€14,477)
- Profit (loss) carried forward +€25,806
up €25,806, from -€1,132 to €24,674
- Short-term financial debts +€25,000
new in 2025: €25,000
- Trade debts -€11,815
down €11,815 (-28.8%), from €41,038 to €29,223
- Current portion of long-term debt -€10,701
down €10,701 (-51.2%), from €20,910 to €10,208
- Debts after one year -€9,695
down €9,695 (-26.0%), from €37,357 to €27,663
of which Financial debts: -€9,695
- Gross operating margin +€7,884
up €7,884 (+8.9%), from €88,917 to €96,801
- Taxes +€3,815
up €3,815 (+82.2%), from €4,638 to €8,453
- Depreciation +€3,391
up €3,391 (+44.9%), from €7,548 to €10,938
- Staff costs -€1,093
down €1,093 (-2.2%), from €48,647 to €47,554
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €136,957 | €169,550 | +€32,593 | +23.8% |
| Fixed assets | 21/28 | €75,363 | €100,654 | +€25,291 | +33.6% |
| Tangible fixed assets | 22/27 | €75,063 | €100,354 | +€25,291 | +33.7% |
| Plant, machinery and equipment | 23 | €46,853 | €75,087 | +€28,234 | +60.3% |
| Furniture and vehicles | 24 | €28,210 | €25,266 | -€2,943 | -10.4% |
| Financial fixed assets | 28 | €300 | €300 | = | 0.0% |
| Current assets | 29/58 | €61,594 | €68,896 | +€7,302 | +11.9% |
| Amounts receivable within one year | 40/41 | €38,633 | €53,109 | +€14,477 | +37.5% |
| Trade receivables | 40 | €10,922 | €8,776 | -€2,145 | -19.6% |
| Other amounts receivable | 41 | €27,711 | €44,333 | +€16,622 | +60.0% |
| Cash at bank and in hand | 54/58 | €20,850 | €13,128 | -€7,722 | -37.0% |
| Deferred charges and accrued income | 490/1 | €2,111 | €2,658 | +€547 | +25.9% |
| Total equity and liabilities | 10/49 | €136,957 | €169,550 | +€32,593 | +23.8% |
| Equity | 10/15 | €8,868 | €34,674 | +€25,806 | +291% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,132 | €24,674 | +€25,806 | |
| Amounts payable | 17/49 | €128,089 | €134,876 | +€6,787 | +5.3% |
| Amounts payable after more than one year | 17 | €37,357 | €27,663 | -€9,695 | -26.0% |
| Financial debts | 170/4 | €37,357 | €27,663 | -€9,695 | -26.0% |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €90,625 | €107,214 | +€16,589 | +18.3% |
| Current portion of amounts payable after more than one year | 42 | €20,910 | €10,208 | -€10,701 | -51.2% |
| Financial debts | 43 | - | €25,000 | +€25,000 | |
| Credit institutions | 430/8 | - | €25,000 | +€25,000 | |
| Trade debts | 44 | €41,038 | €29,223 | -€11,815 | -28.8% |
| Suppliers | 440/4 | €41,038 | €29,223 | -€11,815 | -28.8% |
| Taxes, remuneration and social security | 45 | €9,602 | €14,832 | +€5,230 | +54.5% |
| Taxes | 450/3 | €5,493 | €14,164 | +€8,671 | +158% |
| Remuneration and social security | 454/9 | €4,109 | €668 | -€3,440 | -83.7% |
| Other amounts payable | 47/48 | €19,075 | €27,950 | +€8,875 | +46.5% |
| Accrued charges and deferred income | 492/3 | €107 | €0 | -€107 | -100% |
| Remuneration, social security and pensions | 62 | €48,647 | €47,554 | -€1,093 | -2.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,548 | €10,938 | +€3,391 | +44.9% |
| Other operating charges | 640/8 | €1,019 | €1,064 | +€44 | +4.3% |
| Gross operating margin | 9900 | €88,917 | €96,801 | +€7,884 | +8.9% |
| Operating profit (loss) | 9901 | €31,703 | €37,245 | +€5,543 | +17.5% |
| Financial income | 75/76B | €102 | €32 | -€70 | -68.3% |
| Recurring financial income | 75 | €102 | €32 | -€70 | -68.3% |
| Financial charges | 65/66B | €2,291 | €3,019 | +€728 | +31.8% |
| Recurring financial charges | 65 | €2,291 | €3,019 | +€728 | +31.8% |
| Profit (loss) for the period before taxes | 9903 | €29,514 | €34,259 | +€4,745 | +16.1% |
| Income taxes | 67/77 | €4,638 | €8,453 | +€3,815 | +82.2% |
| Profit (loss) for the period | 9904 | €24,876 | €25,806 | +€930 | +3.7% |
| Profit (loss) for the period to be appropriated | 9905 | €24,876 | €25,806 | +€930 | +3.7% |
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 23 October 2026 via checked.be.