MEDIFAR: 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.
MEDIFAR
Largest movements
- Cash +€125,363
up €125,363 (+60.2%), from €208,315 to €333,678
mainly Receivables within one year (+€121,102) and Net result for the year (+€115,474)
- Receivables within one year -€121,102
down €121,102 (-49.4%), from €245,297 to €124,195
of which Other amounts receivable: -€130,985
- Tangible fixed assets -€39,461
down €39,461 (-13.6%), from €289,654 to €250,192
- Reserves -€30,641
down €30,641 (-3.7%), from €837,752 to €807,111
of which Distributable reserves: -€30,641
- Tax, wage and social debts +€16,127
up €16,127 (+366.1%), from €4,405 to €20,532
of which Taxes: +€15,106
- Trade debts -€16,062
down €16,062 (-43.5%), from €36,886 to €20,824
- Other debts +€10,506
new in 2025: €10,506
- Gross operating margin +€44,197
up €44,197 (+21.7%), from €203,547 to €247,744
- Taxes +€14,986
up €14,986 (+42.2%), from €35,531 to €50,517
- Staff costs +€4,042
up €4,042 (+15.8%), from €25,527 to €29,569
- Depreciation -€3,019
down €3,019 (-6.8%), from €44,233 to €41,214
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 | €945,084 | €921,854 | -€23,230 | -2.5% |
| Fixed assets | 21/28 | €289,654 | €250,192 | -€39,461 | -13.6% |
| Tangible fixed assets | 22/27 | €289,654 | €250,192 | -€39,461 | -13.6% |
| Land and buildings | 22 | €125,911 | €123,207 | -€2,704 | -2.1% |
| Plant, machinery and equipment | 23 | €101,872 | €87,006 | -€14,865 | -14.6% |
| Furniture and vehicles | 24 | €41,375 | €25,483 | -€15,892 | -38.4% |
| Leasing and similar rights | 25 | €20,496 | €14,496 | -€6,000 | -29.3% |
| Current assets | 29/58 | €655,430 | €671,662 | +€16,232 | +2.5% |
| Stocks and contracts in progress | 3 | €192,995 | €200,789 | +€7,794 | +4.0% |
| Stocks | 30/36 | €192,995 | €200,789 | +€7,794 | +4.0% |
| Amounts receivable within one year | 40/41 | €245,297 | €124,195 | -€121,102 | -49.4% |
| Trade receivables | 40 | €114,250 | €124,133 | +€9,883 | +8.7% |
| Other amounts receivable | 41 | €131,047 | €63 | -€130,985 | -100.0% |
| Current investments | 50/53 | - | €5,000 | +€5,000 | |
| Cash at bank and in hand | 54/58 | €208,315 | €333,678 | +€125,363 | +60.2% |
| Deferred charges and accrued income | 490/1 | €8,823 | €8,000 | -€823 | -9.3% |
| Total equity and liabilities | 10/49 | €945,084 | €921,854 | -€23,230 | -2.5% |
| Equity | 10/15 | €899,752 | €869,111 | -€30,641 | -3.4% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €837,752 | €807,111 | -€30,641 | -3.7% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €831,552 | €800,911 | -€30,641 | -3.7% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €45,333 | €52,744 | +€7,411 | +16.3% |
| Amounts payable within one year | 42/48 | €41,292 | €51,862 | +€10,571 | +25.6% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €36,886 | €20,824 | -€16,062 | -43.5% |
| Suppliers | 440/4 | €36,886 | €20,824 | -€16,062 | -43.5% |
| Taxes, remuneration and social security | 45 | €4,405 | €20,532 | +€16,127 | +366.1% |
| Taxes | 450/3 | €1,356 | €16,462 | +€15,106 | +1114.0% |
| Remuneration and social security | 454/9 | €3,049 | €4,070 | +€1,021 | +33.5% |
| Other amounts payable | 47/48 | - | €10,506 | +€10,506 | |
| Accrued charges and deferred income | 492/3 | €4,041 | €881 | -€3,160 | -78.2% |
| Non-recurring operating income | 76A | - | €1,104 | +€1,104 | |
| Remuneration, social security and pensions | 62 | €25,527 | €29,569 | +€4,042 | +15.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,233 | €41,214 | -€3,019 | -6.8% |
| Other operating charges | 640/8 | €5,768 | €5,768 | -€1 | 0.0% |
| Non-recurring operating charges | 66A | €12,901 | €0 | -€12,901 | -100.0% |
| Gross operating margin | 9900 | €203,547 | €247,744 | +€44,197 | +21.7% |
| Operating profit (loss) | 9901 | €115,118 | €171,194 | +€56,076 | +48.7% |
| Financial income | 75/76B | €177 | €67 | -€110 | -62.0% |
| Recurring financial income | 75 | €177 | €67 | -€110 | -62.0% |
| Financial charges | 65/66B | €4,648 | €5,271 | +€623 | +13.4% |
| Recurring financial charges | 65 | €4,648 | €5,271 | +€623 | +13.4% |
| Profit (loss) for the period before taxes | 9903 | €110,647 | €165,991 | +€55,344 | +50.0% |
| Income taxes | 67/77 | €35,531 | €50,517 | +€14,986 | +42.2% |
| Profit (loss) for the period | 9904 | €75,116 | €115,474 | +€40,358 | +53.7% |
| Profit (loss) for the period to be appropriated | 9905 | €75,116 | €115,474 | +€40,358 | +53.7% |
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 5 October 2026 via checked.be.