MEDICOREL: 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.
MEDICOREL
Largest movements
- Current investments +€70,681
up €70,681 (+36.2%), from €195,250 to €265,931
- Cash -€65,104
down €65,104 (-72.9%), from €89,322 to €24,218
mainly Current investments (-€70,681) and Debts after one year (-€55,670)
- Receivables after one year -€45,000
down €45,000 (-42.9%), from €105,000 to €60,000
- Tangible fixed assets -€30,461
down €30,461 (-13.8%), from €220,095 to €189,634
of which Furniture and vehicles: -€24,716
- Receivables within one year +€8,197
up €8,197 (+273.7%), from €2,995 to €11,192
- Debts after one year -€55,670
down €55,670 (-24.2%), from €229,769 to €174,100
- Other debts -€44,934
down €44,934 (-85.8%), from €52,359 to €7,424
- Reserves +€25,414
up €25,414 (+10.7%), from €238,442 to €263,856
of which Distributable reserves: +€27,274
- Trade debts +€10,536
up €10,536 (+397.2%), from €2,653 to €13,189
- Depreciation +€3,623
up €3,623 (+6.8%), from €52,947 to €56,570
- Other operating charges -€2,690
down €2,690 (-28.4%), from €9,479 to €6,788
- Gross operating margin -€2,009
down €2,009 (-1.7%), from €119,439 to €117,430
- Taxes +€1,869
up €1,869 (+11.0%), from €17,005 to €18,874
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 | €616,647 | €559,209 | -€57,437 | -9.3% |
| Fixed assets | 21/28 | €221,595 | €191,134 | -€30,461 | -13.7% |
| Tangible fixed assets | 22/27 | €220,095 | €189,634 | -€30,461 | -13.8% |
| Land and buildings | 22 | €140,255 | €116,879 | -€23,376 | -16.7% |
| Plant, machinery and equipment | 23 | €386 | €98 | -€287 | -74.5% |
| Furniture and vehicles | 24 | €63,113 | €38,397 | -€24,716 | -39.2% |
| Other tangible fixed assets | 26 | €16,342 | €34,260 | +€17,918 | +109.6% |
| Financial fixed assets | 28 | €1,500 | €1,500 | = | 0.0% |
| Current assets | 29/58 | €395,051 | €368,075 | -€26,976 | -6.8% |
| Amounts receivable after more than one year | 29 | €105,000 | €60,000 | -€45,000 | -42.9% |
| Other amounts receivable | 291 | €105,000 | €60,000 | -€45,000 | -42.9% |
| Amounts receivable within one year | 40/41 | €2,995 | €11,192 | +€8,197 | +273.7% |
| Other amounts receivable | 41 | €2,995 | €11,192 | +€8,197 | +273.7% |
| Current investments | 50/53 | €195,250 | €265,931 | +€70,681 | +36.2% |
| Cash at bank and in hand | 54/58 | €89,322 | €24,218 | -€65,104 | -72.9% |
| Deferred charges and accrued income | 490/1 | €2,485 | €6,735 | +€4,250 | +171.0% |
| Total equity and liabilities | 10/49 | €616,647 | €559,209 | -€57,437 | -9.3% |
| Equity | 10/15 | €259,043 | €284,457 | +€25,414 | +9.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €238,442 | €263,856 | +€25,414 | +10.7% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €236,582 | €263,856 | +€27,274 | +11.5% |
| Profit (loss) carried forward | 14 | €2,000 | €2,000 | = | 0.0% |
| Amounts payable | 17/49 | €357,604 | €274,753 | -€82,851 | -23.2% |
| Amounts payable after more than one year | 17 | €229,769 | €174,100 | -€55,670 | -24.2% |
| Financial debts | 170/4 | €229,769 | €174,100 | -€55,670 | -24.2% |
| Amounts payable within one year | 42/48 | €127,835 | €100,653 | -€27,182 | -21.3% |
| Current portion of amounts payable after more than one year | 42 | €70,986 | €72,602 | +€1,615 | +2.3% |
| Trade debts | 44 | €2,653 | €13,189 | +€10,536 | +397.2% |
| Suppliers | 440/4 | €2,653 | €13,189 | +€10,536 | +397.2% |
| Taxes, remuneration and social security | 45 | €1,837 | €7,438 | +€5,601 | +304.9% |
| Taxes | 450/3 | €1,837 | - | -€1,837 | |
| Remuneration and social security | 454/9 | - | €7,438 | +€7,438 | |
| Other amounts payable | 47/48 | €52,359 | €7,424 | -€44,934 | -85.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,947 | €56,570 | +€3,623 | +6.8% |
| Other operating charges | 640/8 | €9,479 | €6,788 | -€2,690 | -28.4% |
| Gross operating margin | 9900 | €119,439 | €117,430 | -€2,009 | -1.7% |
| Operating profit (loss) | 9901 | €57,013 | €54,071 | -€2,942 | -5.2% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €10,949 | €9,783 | -€1,166 | -10.6% |
| Recurring financial charges | 65 | €10,949 | €9,783 | -€1,166 | -10.6% |
| Profit (loss) for the period before taxes | 9903 | €46,064 | €44,288 | -€1,776 | -3.9% |
| Income taxes | 67/77 | €17,005 | €18,874 | +€1,869 | +11.0% |
| Profit (loss) for the period | 9904 | €29,058 | €25,414 | -€3,645 | -12.5% |
| Profit (loss) for the period to be appropriated | 9905 | €29,058 | €25,414 | -€3,645 | -12.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.