MEDIFARM: 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.
MEDIFARM
Largest movements
- Tangible fixed assets +€188,128
up €188,128 (+49.9%), from €376,778 to €564,906
of which Land and buildings: +€187,265
- Current investments -€141,992
down €141,992 (-65.3%), from €217,540 to €75,548
- Cash -€45,135
down €45,135 (-32.7%), from €137,931 to €92,796
mainly Investment in fixed assets (net) (-€205,271) and Debts after one year (-€55,874)
- Receivables within one year +€17,793
up €17,793 (+14.1%), from €125,878 to €143,670
of which Trade receivables: +€22,354
- Other debts +€66,487
up €66,487 (+126%), from €52,562 to €119,049
- Debts after one year -€55,874
down €55,874 (-31.5%), from €177,431 to €121,557
- Gross operating margin +€106,223
up €106,223, from -€90,479 to €15,745
- Financial charges -€103,605
down €103,605 (-90.6%), from €114,330 to €10,725
- Financial income -€28,043
down €28,043 (-64.4%), from €43,567 to €15,524
- Other operating charges -€5,451
down €5,451 (-66.2%), from €8,230 to €2,779
- Depreciation +€3,055
up €3,055 (+21.7%), from €14,088 to €17,143
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 | €858,528 | €878,546 | +€20,017 | +2.3% |
| Fixed assets | 21/28 | €376,778 | €564,906 | +€188,128 | +49.9% |
| Tangible fixed assets | 22/27 | €376,778 | €564,906 | +€188,128 | +49.9% |
| Land and buildings | 22 | €374,902 | €562,166 | +€187,265 | +50.0% |
| Plant, machinery and equipment | 23 | - | €2,740 | +€2,740 | |
| Furniture and vehicles | 24 | €1,877 | - | -€1,877 | |
| Current assets | 29/58 | €481,750 | €313,639 | -€168,110 | -34.9% |
| Amounts receivable within one year | 40/41 | €125,878 | €143,670 | +€17,793 | +14.1% |
| Trade receivables | 40 | - | €22,354 | +€22,354 | |
| Other amounts receivable | 41 | €125,878 | €121,316 | -€4,562 | -3.6% |
| Current investments | 50/53 | €217,540 | €75,548 | -€141,992 | -65.3% |
| Cash at bank and in hand | 54/58 | €137,931 | €92,796 | -€45,135 | -32.7% |
| Deferred charges and accrued income | 490/1 | €402 | €1,626 | +€1,224 | +305% |
| Total equity and liabilities | 10/49 | €858,528 | €878,546 | +€20,017 | +2.3% |
| Equity | 10/15 | €563,391 | €563,490 | +€99 | 0.0% |
| Contributions | 10/11 | €25,368 | €25,368 | = | 0.0% |
| Reserves | 13 | €722,161 | €722,161 | = | 0.0% |
| Tax-exempt reserves | 132 | €10,830 | €10,830 | = | 0.0% |
| Distributable reserves | 133 | €711,331 | €711,331 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€184,138 | -€184,039 | +€99 | +0.1% |
| Amounts payable | 17/49 | €295,137 | €315,055 | +€19,918 | +6.7% |
| Amounts payable after more than one year | 17 | €177,431 | €121,557 | -€55,874 | -31.5% |
| Financial debts | 170/4 | €177,431 | €121,557 | -€55,874 | -31.5% |
| Amounts payable within one year | 42/48 | €117,706 | €193,498 | +€75,792 | +64.4% |
| Current portion of amounts payable after more than one year | 42 | €55,698 | €55,874 | +€176 | +0.3% |
| Trade debts | 44 | €8,192 | €13,665 | +€5,473 | +66.8% |
| Suppliers | 440/4 | €8,192 | €13,665 | +€5,473 | +66.8% |
| Taxes, remuneration and social security | 45 | €1,255 | €4,911 | +€3,656 | +291% |
| Taxes | 450/3 | €1,255 | €4,911 | +€3,656 | +291% |
| Other amounts payable | 47/48 | €52,562 | €119,049 | +€66,487 | +126% |
| Non-recurring operating income | 76A | €1,730 | €21,574 | +€19,844 | +1,147% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,088 | €17,143 | +€3,055 | +21.7% |
| Other operating charges | 640/8 | €8,230 | €2,779 | -€5,451 | -66.2% |
| Gross operating margin | 9900 | -€90,479 | €15,745 | +€106,223 | |
| Operating profit (loss) | 9901 | -€112,796 | -€4,177 | +€108,619 | +96.3% |
| Financial income | 75/76B | €43,567 | €15,524 | -€28,043 | -64.4% |
| Recurring financial income | 75 | €43,567 | €15,524 | -€28,043 | -64.4% |
| Financial charges | 65/66B | €114,330 | €10,725 | -€103,605 | -90.6% |
| Recurring financial charges | 65 | €114,330 | €10,725 | -€103,605 | -90.6% |
| Profit (loss) for the period before taxes | 9903 | -€183,560 | €622 | +€184,182 | |
| Income taxes | 67/77 | €578 | €523 | -€55 | -9.6% |
| Profit (loss) for the period | 9904 | -€184,138 | €99 | +€184,237 | |
| Profit (loss) for the period to be appropriated | 9905 | -€184,138 | €99 | +€184,237 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.