MEDIPANIS: 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.
MEDIPANIS
Largest movements
- Intangible fixed assets -€42,870
down €42,870 (-33.7%), from €127,228 to €84,358
- Cash -€18,376
down €18,376 (-40.6%), from €45,314 to €26,938
mainly Contributions, distributions and other (-€276,184) and Debts after one year (-€17,560)
- Reserves -€203,667
no longer reported in 2025 (was €203,667)
- Other debts +€111,407
up €111,407 (+89.9%), from €123,966 to €235,372
- Tax, wage and social debts +€47,216
up €47,216 (+488%), from €9,667 to €56,883
- Debts after one year -€17,560
down €17,560 (-47.7%), from €36,837 to €19,277
- Taxes +€8,383
up €8,383 (+45.6%), from €18,391 to €26,774
- Financial charges -€7,263
down €7,263 (-45.4%), from €15,995 to €8,732
- Gross operating margin +€5,228
up €5,228 (+3.5%), from €147,401 to €152,629
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 | €397,609 | €332,433 | -€65,176 | -16.4% |
| Fixed assets | 21/28 | €128,688 | €85,040 | -€43,648 | -33.9% |
| Intangible fixed assets | 21 | €127,228 | €84,358 | -€42,870 | -33.7% |
| Tangible fixed assets | 22/27 | €1,460 | €682 | -€778 | -53.3% |
| Furniture and vehicles | 24 | €313 | €59 | -€254 | -81.2% |
| Other tangible fixed assets | 26 | €1,148 | €624 | -€524 | -45.7% |
| Current assets | 29/58 | €268,921 | €247,393 | -€21,528 | -8.0% |
| Amounts receivable within one year | 40/41 | €3,607 | €455 | -€3,152 | -87.4% |
| Trade receivables | 40 | - | €455 | +€455 | |
| Other amounts receivable | 41 | €3,607 | - | -€3,607 | |
| Current investments | 50/53 | €220,000 | €220,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €45,314 | €26,938 | -€18,376 | -40.6% |
| Total equity and liabilities | 10/49 | €397,609 | €332,433 | -€65,176 | -16.4% |
| Equity | 10/15 | €206,667 | €3,000 | -€203,667 | -98.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €203,667 | - | -€203,667 | |
| Distributable reserves | 133 | €203,667 | - | -€203,667 | |
| Amounts payable | 17/49 | €190,943 | €329,433 | +€138,491 | +72.5% |
| Amounts payable after more than one year | 17 | €36,837 | €19,277 | -€17,560 | -47.7% |
| Financial debts | 170/4 | €36,837 | €19,277 | -€17,560 | -47.7% |
| Amounts payable within one year | 42/48 | €154,105 | €310,156 | +€156,051 | +101% |
| Current portion of amounts payable after more than one year | 42 | €17,338 | €17,560 | +€222 | +1.3% |
| Trade debts | 44 | €3,134 | €340 | -€2,794 | -89.1% |
| Suppliers | 440/4 | €3,134 | €340 | -€2,794 | -89.1% |
| Taxes, remuneration and social security | 45 | €9,667 | €56,883 | +€47,216 | +488% |
| Taxes | 450/3 | €9,667 | €56,883 | +€47,216 | +488% |
| Other amounts payable | 47/48 | €123,966 | €235,372 | +€111,407 | +89.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,667 | €43,648 | -€19 | 0.0% |
| Other operating charges | 640/8 | €609 | €958 | +€348 | +57.2% |
| Gross operating margin | 9900 | €147,401 | €152,629 | +€5,228 | +3.5% |
| Operating profit (loss) | 9901 | €103,125 | €108,024 | +€4,899 | +4.8% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €15,995 | €8,732 | -€7,263 | -45.4% |
| Recurring financial charges | 65 | €15,995 | €8,732 | -€7,263 | -45.4% |
| Profit (loss) for the period before taxes | 9903 | €87,130 | €99,291 | +€12,162 | +14.0% |
| Income taxes | 67/77 | €18,391 | €26,774 | +€8,383 | +45.6% |
| Profit (loss) for the period | 9904 | €68,739 | €72,517 | +€3,779 | +5.5% |
| Profit (loss) for the period to be appropriated | 9905 | €68,739 | €72,517 | +€3,779 | +5.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.