MEDICINAL: 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.
MEDICINAL
Largest movements
- Cash -€102,165
down €102,165 (-60.2%), from €169,634 to €67,469
mainly Current portion of long-term debt (-€86,603) and Other debts (-€84,949)
- Reserves +€141,000
up €141,000 (+28.5%), from €495,605 to €636,605
- Current portion of long-term debt -€86,603
down €86,603 (-53.7%), from €161,379 to €74,777
- Other debts -€84,949
down €84,949 (-19.4%), from €437,242 to €352,293
- Debts after one year -€60,915
down €60,915 (-100.0%), from €60,915 to €0
- Financial charges -€12,066
down €12,066 (-32.1%), from €37,622 to €25,556
- Gross operating margin -€6,225
down €6,225 (-2.6%), from €237,714 to €231,489
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 | €2,240,713 | €2,139,535 | -€101,178 | -4.5% |
| Fixed assets | 21/28 | €2,070,228 | €2,071,406 | +€1,177 | +0.1% |
| Tangible fixed assets | 22/27 | €10,266 | €11,444 | +€1,177 | +11.5% |
| Plant, machinery and equipment | 23 | €10,266 | €11,444 | +€1,177 | +11.5% |
| Financial fixed assets | 28 | €2,059,962 | €2,059,962 | = | 0.0% |
| Current assets | 29/58 | €170,484 | €68,129 | -€102,355 | -60.0% |
| Amounts receivable within one year | 40/41 | €660 | €660 | = | 0.0% |
| Other amounts receivable | 41 | €660 | €660 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €169,634 | €67,469 | -€102,165 | -60.2% |
| Deferred charges and accrued income | 490/1 | €190 | €0 | -€190 | -100.0% |
| Total equity and liabilities | 10/49 | €2,240,713 | €2,139,535 | -€101,178 | -4.5% |
| Equity | 10/15 | €1,530,783 | €1,672,148 | +€141,365 | +9.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €495,605 | €636,605 | +€141,000 | +28.5% |
| Distributable reserves | 133 | €495,605 | €636,605 | +€141,000 | +28.5% |
| Profit (loss) carried forward | 14 | €1,016,579 | €1,016,943 | +€365 | 0.0% |
| Amounts payable | 17/49 | €709,929 | €467,386 | -€242,543 | -34.2% |
| Amounts payable after more than one year | 17 | €60,915 | €0 | -€60,915 | -100.0% |
| Financial debts | 170/4 | €60,915 | €0 | -€60,915 | -100.0% |
| Amounts payable within one year | 42/48 | €625,091 | €446,812 | -€178,279 | -28.5% |
| Current portion of amounts payable after more than one year | 42 | €161,379 | €74,777 | -€86,603 | -53.7% |
| Trade debts | 44 | €3,143 | €4,111 | +€968 | +30.8% |
| Suppliers | 440/4 | €3,143 | €4,111 | +€968 | +30.8% |
| Taxes, remuneration and social security | 45 | €23,327 | €15,631 | -€7,696 | -33.0% |
| Taxes | 450/3 | €23,327 | €15,631 | -€7,696 | -33.0% |
| Other amounts payable | 47/48 | €437,242 | €352,293 | -€84,949 | -19.4% |
| Accrued charges and deferred income | 492/3 | €23,923 | €20,575 | -€3,349 | -14.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,191 | €3,888 | +€697 | +21.8% |
| Other operating charges | 640/8 | €254 | €186 | -€68 | -26.8% |
| Gross operating margin | 9900 | €237,714 | €231,489 | -€6,225 | -2.6% |
| Operating profit (loss) | 9901 | €234,269 | €227,415 | -€6,854 | -2.9% |
| Financial charges | 65/66B | €37,622 | €25,556 | -€12,066 | -32.1% |
| Recurring financial charges | 65 | €37,622 | €25,556 | -€12,066 | -32.1% |
| Profit (loss) for the period before taxes | 9903 | €196,647 | €201,859 | +€5,213 | +2.7% |
| Income taxes | 67/77 | €59,340 | €60,494 | +€1,155 | +1.9% |
| Profit (loss) for the period | 9904 | €137,307 | €141,365 | +€4,058 | +3.0% |
| Profit (loss) for the period to be appropriated | 9905 | €137,307 | €141,365 | +€4,058 | +3.0% |
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 11 October 2026 via checked.be.