MEDIFEL: 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.
MEDIFEL
Largest movements
- Cash +€32,624
up €32,624 (+23.7%), from €137,579 to €170,203
mainly Net result for the year (+€38,346) and Depreciation (+€16,335)
- Tangible fixed assets -€15,096
down €15,096 (-14.2%), from €106,005 to €90,908
- Receivables within one year -€6,996
down €6,996 (-79.7%), from €8,783 to €1,787
of which Other amounts receivable: -€3,897
- Deferred charges and accrued income -€2,772
down €2,772 (-49.7%), from €5,577 to €2,805
- Reserves +€36,626
up €36,626 (+19.3%), from €189,577 to €226,203
- Contributions -€20,460
no longer reported in 2025 (was €20,460)
- Debts after one year -€10,803
down €10,803 (-37.1%), from €29,139 to €18,336
- Tax, wage and social debts +€4,208
up €4,208 (+233.8%), from €1,800 to €6,008
- Other debts -€3,319
down €3,319 (-63.5%), from €5,228 to €1,909
- Gross operating margin +€27,489
up €27,489 (+47.5%), from €57,870 to €85,359
- Taxes +€7,650
up €7,650 (+91.9%), from €8,325 to €15,974
- Other operating charges -€4,481
down €4,481 (-59.1%), from €7,586 to €3,105
- Financial charges +€4,226
up €4,226 (+68.2%), from €6,193 to €10,419
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 | €259,803 | €267,563 | +€7,760 | +3.0% |
| Fixed assets | 21/28 | €107,864 | €92,767 | -€15,096 | -14.0% |
| Tangible fixed assets | 22/27 | €106,005 | €90,908 | -€15,096 | -14.2% |
| Land and buildings | 22 | €67,600 | €62,400 | -€5,200 | -7.7% |
| Plant, machinery and equipment | 23 | €4,540 | €2,966 | -€1,574 | -34.7% |
| Furniture and vehicles | 24 | €14,771 | €11,763 | -€3,008 | -20.4% |
| Other tangible fixed assets | 26 | €19,094 | €13,779 | -€5,315 | -27.8% |
| Financial fixed assets | 28 | €1,859 | €1,859 | = | 0.0% |
| Current assets | 29/58 | €151,939 | €174,795 | +€22,856 | +15.0% |
| Amounts receivable within one year | 40/41 | €8,783 | €1,787 | -€6,996 | -79.7% |
| Trade receivables | 40 | €3,099 | - | -€3,099 | |
| Other amounts receivable | 41 | €5,684 | €1,787 | -€3,897 | -68.6% |
| Cash at bank and in hand | 54/58 | €137,579 | €170,203 | +€32,624 | +23.7% |
| Deferred charges and accrued income | 490/1 | €5,577 | €2,805 | -€2,772 | -49.7% |
| Total equity and liabilities | 10/49 | €259,803 | €267,563 | +€7,760 | +3.0% |
| Equity | 10/15 | €210,037 | €226,203 | +€16,166 | +7.7% |
| Contributions | 10/11 | €20,460 | - | -€20,460 | |
| Outside capital | 11 | €20,460 | - | -€20,460 | |
| Share premium | 1100/10 | €20,460 | - | -€20,460 | |
| Reserves | 13 | €189,577 | €226,203 | +€36,626 | +19.3% |
| Distributable reserves | 133 | €189,577 | €226,203 | +€36,626 | +19.3% |
| Amounts payable | 17/49 | €49,767 | €41,360 | -€8,406 | -16.9% |
| Amounts payable after more than one year | 17 | €29,139 | €18,336 | -€10,803 | -37.1% |
| Financial debts | 170/4 | €29,139 | €18,336 | -€10,803 | -37.1% |
| Amounts payable within one year | 42/48 | €20,628 | €23,024 | +€2,396 | +11.6% |
| Current portion of amounts payable after more than one year | 42 | €13,222 | €13,700 | +€478 | +3.6% |
| Trade debts | 44 | €378 | €1,408 | +€1,030 | +272.4% |
| Suppliers | 440/4 | €378 | €1,408 | +€1,030 | +272.4% |
| Taxes, remuneration and social security | 45 | €1,800 | €6,008 | +€4,208 | +233.8% |
| Taxes | 450/3 | €1,800 | €6,008 | +€4,208 | +233.8% |
| Other amounts payable | 47/48 | €5,228 | €1,909 | -€3,319 | -63.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,832 | €16,335 | +€503 | +3.2% |
| Other operating charges | 640/8 | €7,586 | €3,105 | -€4,481 | -59.1% |
| Non-recurring operating charges | 66A | €777 | €1,870 | +€1,093 | +140.8% |
| Gross operating margin | 9900 | €57,870 | €85,359 | +€27,489 | +47.5% |
| Operating profit (loss) | 9901 | €33,675 | €64,049 | +€30,374 | +90.2% |
| Financial income | 75/76B | €372 | €691 | +€319 | +85.6% |
| Recurring financial income | 75 | €372 | €691 | +€319 | +85.6% |
| Financial charges | 65/66B | €6,193 | €10,419 | +€4,226 | +68.2% |
| Recurring financial charges | 65 | €6,193 | €10,419 | +€4,226 | +68.2% |
| Profit (loss) for the period before taxes | 9903 | €27,854 | €54,320 | +€26,466 | +95.0% |
| Income taxes | 67/77 | €8,325 | €15,974 | +€7,650 | +91.9% |
| Profit (loss) for the period | 9904 | €19,530 | €38,346 | +€18,816 | +96.3% |
| Profit (loss) for the period to be appropriated | 9905 | €19,530 | €38,346 | +€18,816 | +96.3% |
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 29 September 2026 via checked.be.