MEDIPHARM: 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.
MEDIPHARM
Largest movements
- Receivables within one year +€60,174
up €60,174 (+29.0%), from €207,253 to €267,427
of which Trade receivables: +€87,527
- Deferred charges and accrued income -€51,437
no longer reported in 2025 (was €51,437)
- Cash -€28,758
down €28,758 (-41.4%), from €69,449 to €40,691
mainly Receivables within one year (-€60,174) and Current portion of long-term debt (-€35,163)
- Tangible fixed assets -€24,094
down €24,094 (-13.8%), from €174,465 to €150,371
- Stocks and contracts -€19,027
down €19,027 (-14.4%), from €131,706 to €112,679
- Current portion of long-term debt -€35,163
down €35,163 (-59.4%), from €59,204 to €24,041
- Debts after one year -€28,107
down €28,107 (-67.2%), from €41,836 to €13,729
- Other debts +€27,810
up €27,810 (+99.9%), from €27,842 to €55,652
- Tax, wage and social debts -€22,578
down €22,578 (-59.0%), from €38,251 to €15,674
of which Remuneration and social security: -€18,155
- Trade debts -€7,448
down €7,448 (-5.2%), from €144,607 to €137,159
- Staff costs +€47,222
up €47,222 (+28.9%), from €163,301 to €210,523
- Gross operating margin -€25,601
down €25,601 (-9.2%), from €278,783 to €253,182
- Taxes -€19,260
down €19,260 (-73.4%), from €26,254 to €6,993
- Financial charges -€5,212
down €5,212 (-42.4%), from €12,298 to €7,086
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 | €647,676 | €583,033 | -€64,643 | -10.0% |
| Fixed assets | 21/28 | €183,830 | €158,236 | -€25,594 | -13.9% |
| Intangible fixed assets | 21 | €9,366 | €7,866 | -€1,500 | -16.0% |
| Tangible fixed assets | 22/27 | €174,465 | €150,371 | -€24,094 | -13.8% |
| Land and buildings | 22 | €119,322 | €114,672 | -€4,651 | -3.9% |
| Plant, machinery and equipment | 23 | €4,447 | €4,024 | -€423 | -9.5% |
| Furniture and vehicles | 24 | €26,777 | €18,475 | -€8,301 | -31.0% |
| Leasing and similar rights | 25 | €20,248 | €10,124 | -€10,124 | -50.0% |
| Other tangible fixed assets | 26 | €3,671 | €3,075 | -€595 | -16.2% |
| Current assets | 29/58 | €463,845 | €424,796 | -€39,049 | -8.4% |
| Amounts receivable after more than one year | 29 | €4,000 | €4,000 | = | 0.0% |
| Other amounts receivable | 291 | €4,000 | €4,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €131,706 | €112,679 | -€19,027 | -14.4% |
| Stocks | 30/36 | €131,706 | €112,679 | -€19,027 | -14.4% |
| Amounts receivable within one year | 40/41 | €207,253 | €267,427 | +€60,174 | +29.0% |
| Trade receivables | 40 | €4,402 | €91,929 | +€87,527 | +1,988% |
| Other amounts receivable | 41 | €202,851 | €175,498 | -€27,353 | -13.5% |
| Cash at bank and in hand | 54/58 | €69,449 | €40,691 | -€28,758 | -41.4% |
| Deferred charges and accrued income | 490/1 | €51,437 | - | -€51,437 | |
| Total equity and liabilities | 10/49 | €647,676 | €583,033 | -€64,643 | -10.0% |
| Equity | 10/15 | €335,935 | €336,778 | +€843 | +0.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €270,097 | €270,097 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €270,097 | +€270,097 | |
| Distributable reserves | 133 | €270,097 | - | -€270,097 | |
| Profit (loss) carried forward | 14 | €47,238 | €48,081 | +€843 | +1.8% |
| Amounts payable | 17/49 | €311,741 | €246,254 | -€65,486 | -21.0% |
| Amounts payable after more than one year | 17 | €41,836 | €13,729 | -€28,107 | -67.2% |
| Financial debts | 170/4 | €41,836 | €13,729 | -€28,107 | -67.2% |
| Amounts payable within one year | 42/48 | €269,905 | €232,525 | -€37,379 | -13.8% |
| Current portion of amounts payable after more than one year | 42 | €59,204 | €24,041 | -€35,163 | -59.4% |
| Trade debts | 44 | €144,607 | €137,159 | -€7,448 | -5.2% |
| Suppliers | 440/4 | €144,607 | €137,159 | -€7,448 | -5.2% |
| Taxes, remuneration and social security | 45 | €38,251 | €15,674 | -€22,578 | -59.0% |
| Taxes | 450/3 | €5,177 | €754 | -€4,422 | -85.4% |
| Remuneration and social security | 454/9 | €33,075 | €14,919 | -€18,155 | -54.9% |
| Other amounts payable | 47/48 | €27,842 | €55,652 | +€27,810 | +99.9% |
| Remuneration, social security and pensions | 62 | €163,301 | €210,523 | +€47,222 | +28.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,938 | €25,594 | -€1,344 | -5.0% |
| Other operating charges | 640/8 | €3,979 | €2,182 | -€1,797 | -45.2% |
| Non-recurring operating charges | 66A | €7 | - | -€7 | |
| Gross operating margin | 9900 | €278,783 | €253,182 | -€25,601 | -9.2% |
| Operating profit (loss) | 9901 | €84,558 | €14,883 | -€69,675 | -82.4% |
| Financial income | 75/76B | €111 | €40 | -€71 | -63.9% |
| Recurring financial income | 75 | €111 | €40 | -€71 | -63.9% |
| Financial charges | 65/66B | €12,298 | €7,086 | -€5,212 | -42.4% |
| Recurring financial charges | 65 | €12,298 | €7,086 | -€5,212 | -42.4% |
| Profit (loss) for the period before taxes | 9903 | €72,371 | €7,837 | -€64,534 | -89.2% |
| Income taxes | 67/77 | €26,254 | €6,993 | -€19,260 | -73.4% |
| Profit (loss) for the period | 9904 | €46,117 | €843 | -€45,274 | -98.2% |
| Profit (loss) for the period to be appropriated | 9905 | €46,117 | €843 | -€45,274 | -98.2% |
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 16 October 2026 via checked.be.