MEDINI: 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.
What changed
MEDINI
NACE 46.460, Wholesale of pharmaceutical and medical goods
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€156,219
2024 · €55,228+€100,991
Equity
€2.4m
2024 · €2.2m+€156,219
Cash
€684,035
2024 · €341,763+€342,272
Balance sheet total
€8.8m
2024 · €7.5m+€1.2m
Largest movements
Assets
- Stocks and contracts +€443,029
up €443,029 (+10.3%), from €4.3m to €4.7m
- Receivables within one year +€355,380
up €355,380 (+15.1%), from €2.4m to €2.7m
of which Trade receivables: +€420,375
- Cash +€342,272
up €342,272 (+100.1%), from €341,763 to €684,035
mainly Trade debts (+€1.3m) and Depreciation (+€217,360)
- Intangible fixed assets +€128,206
up €128,206 (+374.7%), from €34,217 to €162,424
Equity and liabilities
- Trade debts +€1.3m
up €1.3m (+62.4%), from €2.1m to €3.4m
- Short-term financial debts -€200,000
down €200,000 (-7.4%), from €2.7m to €2.5m
- Reserves +€156,219
up €156,219 (+7.2%), from €2.2m to €2.3m
of which Distributable reserves: +€156,219
Income statement
- Turnover +€3.1m
up €3.1m (+6.8%), from €45.5m to €48.6m
- Goods and materials +€2.5m
up €2.5m (+5.9%), from €41.5m to €44.0m
of which Purchases: +€3.3m
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.
Result 2024
€55,228
Turnover
+€3.1m
Other operating income
+€179,929
Goods and materials
-€2.5m
Services and other goods
-€92,760
Staff costs
-€32,001
Depreciation
-€51,439
Write-downs
-€416,909
Other operating charges
-€175,524
Other operating items
+€33,891
Financial income
+€831
Financial charges
+€65,207
Taxes
-€36,748
Result 2025
€156,219
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.
From operations
+€838,011
Investment
-€295,739
Financing
-€200,000
Cash 2024
€341,763
From operations (derived)
+€838,011
Net result for the year
+€156,219
Depreciation
+€217,360
Stocks and contracts
-€443,029
Receivables within one year
-€355,380
Deferred charges and accrued income
-€6,932
Trade debts
+€1.3m
Tax, wage and social debts
-€41,493
Accrued charges and deferred income
-€5,198
Investment (derived)
-€295,739
Investment in fixed assets (net)
-€295,739
Financing
-€200,000
Short-term financial debts
-€200,000
Cash 2025
€684,035
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,543,360 | €8,769,352 | +€1.2m | +16.3% |
| Fixed assets | 21/28 | €539,724 | €618,103 | +€78,379 | +14.5% |
| Intangible fixed assets | 21 | €34,217 | €162,424 | +€128,206 | +374.7% |
| Tangible fixed assets | 22/27 | €450,850 | €401,023 | -€49,827 | -11.1% |
| Plant, machinery and equipment | 23 | €73,355 | €64,137 | -€9,218 | -12.6% |
| Furniture and vehicles | 24 | €377,495 | €336,886 | -€40,609 | -10.8% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Financial fixed assets | 28 | €54,657 | €54,657 | = | 0.0% |
| Other financial fixed assets | 284/8 | €54,657 | €54,657 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €54,657 | €54,657 | = | 0.0% |
| Current assets | 29/58 | €7,003,636 | €8,151,249 | +€1.1m | +16.4% |
| Stocks and contracts in progress | 3 | €4,293,884 | €4,736,913 | +€443,029 | +10.3% |
| Stocks | 30/36 | €4,293,884 | €4,736,913 | +€443,029 | +10.3% |
| Goods purchased for resale | 34 | €4,293,884 | €4,736,913 | +€443,029 | +10.3% |
| Amounts receivable within one year | 40/41 | €2,359,855 | €2,715,235 | +€355,380 | +15.1% |
| Trade receivables | 40 | €2,229,604 | €2,649,979 | +€420,375 | +18.9% |
| Other amounts receivable | 41 | €130,251 | €65,255 | -€64,996 | -49.9% |
| Cash at bank and in hand | 54/58 | €341,763 | €684,035 | +€342,272 | +100.1% |
| Deferred charges and accrued income | 490/1 | €8,134 | €15,066 | +€6,932 | +85.2% |
| Total equity and liabilities | 10/49 | €7,543,360 | €8,769,352 | +€1.2m | +16.3% |
| Equity | 10/15 | €2,240,430 | €2,396,649 | +€156,219 | +7.0% |
| 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 | €2,178,430 | €2,334,649 | +€156,219 | +7.2% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €91 | €91 | = | 0.0% |
| Distributable reserves | 133 | €2,172,138 | €2,328,358 | +€156,219 | +7.2% |
| Amounts payable | 17/49 | €5,302,930 | €6,372,703 | +€1.1m | +20.2% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €5,297,732 | €6,372,703 | +€1.1m | +20.3% |
| Financial debts | 43 | €2,700,000 | €2,500,000 | -€200,000 | -7.4% |
| Credit institutions | 430/8 | €2,700,000 | €2,500,000 | -€200,000 | -7.4% |
| Trade debts | 44 | €2,108,185 | €3,424,649 | +€1.3m | +62.4% |
| Suppliers | 440/4 | €2,108,185 | €3,424,649 | +€1.3m | +62.4% |
| Taxes, remuneration and social security | 45 | €489,548 | €448,055 | -€41,493 | -8.5% |
| Taxes | 450/3 | €183,883 | €104,552 | -€79,331 | -43.1% |
| Remuneration and social security | 454/9 | €305,665 | €343,503 | +€37,838 | +12.4% |
| Accrued charges and deferred income | 492/3 | €5,198 | €0 | -€5,198 | -100.0% |
| Operating income | 70/76A | €45,592,381 | €48,832,258 | +€3.2m | +7.1% |
| Turnover | 70 | €45,541,785 | €48,619,735 | +€3.1m | +6.8% |
| Other operating income | 74 | €25,982 | €205,911 | +€179,929 | +692.5% |
| Non-recurring operating income | 76A | €24,614 | €6,612 | -€18,003 | -73.1% |
| Operating charges | 60/66A | €45,361,338 | €48,529,514 | +€3.2m | +7.0% |
| Goods for resale, raw materials and consumables | 60 | €41,527,288 | €43,978,725 | +€2.5m | +5.9% |
| Purchases | 600/8 | €41,157,717 | €44,421,921 | +€3.3m | +7.9% |
| Change in stocks: decrease (increase) | 609 | €369,571 | -€443,196 | -€812,766 | |
| Services and other goods | 61 | €1,691,321 | €1,784,081 | +€92,760 | +5.5% |
| Remuneration, social security and pensions | 62 | €2,320,840 | €2,352,841 | +€32,001 | +1.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €165,921 | €217,360 | +€51,439 | +31.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€416,742 | €167 | +€416,909 | |
| Other operating charges | 640/8 | €20,816 | €196,340 | +€175,524 | +843.2% |
| Non-recurring operating charges | 66A | €51,894 | €0 | -€51,894 | -100.0% |
| Operating profit (loss) | 9901 | €231,043 | €302,744 | +€71,701 | +31.0% |
| Financial income | 75/76B | €15,754 | €16,584 | +€831 | +5.3% |
| Recurring financial income | 75 | €15,754 | €16,584 | +€831 | +5.3% |
| Other financial income | 752/9 | €15,754 | €16,584 | +€831 | +5.3% |
| Financial charges | 65/66B | €160,771 | €95,563 | -€65,207 | -40.6% |
| Recurring financial charges | 65 | €160,771 | €95,563 | -€65,207 | -40.6% |
| Debt charges | 650 | €147,139 | €92,970 | -€54,169 | -36.8% |
| Other financial charges | 652/9 | €13,632 | €2,594 | -€11,038 | -81.0% |
| Profit (loss) for the period before taxes | 9903 | €86,026 | €223,765 | +€137,739 | +160.1% |
| Income taxes | 67/77 | €30,798 | €67,546 | +€36,748 | +119.3% |
| Taxes | 670/3 | €30,798 | €67,546 | +€36,748 | +119.3% |
| Profit (loss) for the period | 9904 | €55,228 | €156,219 | +€100,991 | +182.9% |
| Profit (loss) for the period to be appropriated | 9905 | €55,228 | €156,219 | +€100,991 | +182.9% |
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 6 October 2026 via checked.be.