MEDIRAY: 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.
MEDIRAY
Largest movements
- Cash -€147,735
down €147,735 (-55.9%), from €264,375 to €116,640
mainly Contributions, distributions and other (-€193,310) and Investment in fixed assets (net) (-€44,450)
- Receivables within one year -€13,019
down €13,019 (-25.3%), from €51,513 to €38,494
- Tangible fixed assets +€7,612
up €7,612 (+10.2%), from €74,857 to €82,470
of which Furniture and vehicles: +€11,362
- Reserves -€149,335
down €149,335 (-40.6%), from €367,568 to €218,233
of which Distributable reserves: -€149,335
- Gross operating margin -€32,481
down €32,481 (-22.1%), from €147,200 to €114,720
- Depreciation +€13,521
up €13,521 (+58.0%), from €23,317 to €36,838
- Taxes -€11,233
down €11,233 (-39.4%), from €28,480 to €17,247
- Staff costs -€5,679
down €5,679 (-25.9%), from €21,927 to €16,248
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 | €392,849 | €240,219 | -€152,630 | -38.9% |
| Fixed assets | 21/28 | €75,107 | €82,720 | +€7,612 | +10.1% |
| Tangible fixed assets | 22/27 | €74,857 | €82,470 | +€7,612 | +10.2% |
| Plant, machinery and equipment | 23 | €3,187 | €2,195 | -€992 | -31.1% |
| Furniture and vehicles | 24 | €54,965 | €66,327 | +€11,362 | +20.7% |
| Other tangible fixed assets | 26 | €16,706 | €13,948 | -€2,758 | -16.5% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €317,742 | €157,500 | -€160,242 | -50.4% |
| Amounts receivable within one year | 40/41 | €51,513 | €38,494 | -€13,019 | -25.3% |
| Other amounts receivable | 41 | €51,513 | €38,494 | -€13,019 | -25.3% |
| Cash at bank and in hand | 54/58 | €264,375 | €116,640 | -€147,735 | -55.9% |
| Deferred charges and accrued income | 490/1 | €1,854 | €2,365 | +€511 | +27.6% |
| Total equity and liabilities | 10/49 | €392,849 | €240,219 | -€152,630 | -38.9% |
| Equity | 10/15 | €379,968 | €230,633 | -€149,335 | -39.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €367,568 | €218,233 | -€149,335 | -40.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €365,708 | €216,373 | -€149,335 | -40.8% |
| Amounts payable | 17/49 | €12,881 | €9,587 | -€3,295 | -25.6% |
| Amounts payable within one year | 42/48 | €12,881 | €9,587 | -€3,295 | -25.6% |
| Trade debts | 44 | €1,216 | €1,466 | +€250 | +20.5% |
| Suppliers | 440/4 | €1,216 | €1,466 | +€250 | +20.5% |
| Taxes, remuneration and social security | 45 | €11,665 | €8,121 | -€3,544 | -30.4% |
| Taxes | 450/3 | €8,330 | €5,480 | -€2,850 | -34.2% |
| Remuneration and social security | 454/9 | €3,336 | €2,641 | -€694 | -20.8% |
| Remuneration, social security and pensions | 62 | €21,927 | €16,248 | -€5,679 | -25.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,317 | €36,838 | +€13,521 | +58.0% |
| Other operating charges | 640/8 | €1,396 | €872 | -€525 | -37.6% |
| Gross operating margin | 9900 | €147,200 | €114,720 | -€32,481 | -22.1% |
| Operating profit (loss) | 9901 | €100,560 | €60,762 | -€39,798 | -39.6% |
| Financial income | 75/76B | €375 | €777 | +€403 | +108% |
| Recurring financial income | 75 | €375 | €777 | +€403 | +108% |
| Financial charges | 65/66B | €639 | €318 | -€321 | -50.2% |
| Recurring financial charges | 65 | €639 | €318 | -€321 | -50.2% |
| Profit (loss) for the period before taxes | 9903 | €100,295 | €61,222 | -€39,074 | -39.0% |
| Income taxes | 67/77 | €28,480 | €17,247 | -€11,233 | -39.4% |
| Profit (loss) for the period | 9904 | €71,816 | €43,975 | -€27,841 | -38.8% |
| Profit (loss) for the period to be appropriated | 9905 | €71,816 | €43,975 | -€27,841 | -38.8% |
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 13 October 2026 via checked.be.