MEDISART: 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.
MEDISART
Largest movements
- Current investments +€100,000
new in 2025: €100,000
- Tangible fixed assets -€26,202
down €26,202 (-23.7%), from €110,470 to €84,268
- Receivables within one year -€20,280
down €20,280 (-87.6%), from €23,157 to €2,877
of which Other amounts receivable: -€13,274
- Cash +€16,987
up €16,987 (+4.4%), from €385,334 to €402,321
mainly Net result for the year (+€77,896) and Depreciation (+€21,353)
- Reserves +€77,896
up €77,896 (+12.9%), from €605,002 to €682,898
of which Distributable reserves: +€77,896
- Current portion of long-term debt -€11,350
no longer reported in 2025 (was €11,350)
- Depreciation -€20,094
down €20,094 (-48.5%), from €41,447 to €21,353
- Taxes +€6,556
up €6,556 (+26.8%), from €24,459 to €31,015
- Gross operating margin -€2,406
down €2,406 (-1.9%), from €127,813 to €125,407
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 | €728,440 | €803,512 | +€75,072 | +10.3% |
| Fixed assets | 21/28 | €110,470 | €84,268 | -€26,202 | -23.7% |
| Tangible fixed assets | 22/27 | €110,470 | €84,268 | -€26,202 | -23.7% |
| Plant, machinery and equipment | 23 | €50,300 | €45,099 | -€5,201 | -10.3% |
| Furniture and vehicles | 24 | €18,455 | €7,611 | -€10,845 | -58.8% |
| Other tangible fixed assets | 26 | €41,715 | €31,558 | -€10,157 | -24.3% |
| Current assets | 29/58 | €617,969 | €719,244 | +€101,274 | +16.4% |
| Amounts receivable after more than one year | 29 | €200,000 | €200,000 | = | 0.0% |
| Other amounts receivable | 291 | €200,000 | €200,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €23,157 | €2,877 | -€20,280 | -87.6% |
| Trade receivables | 40 | €7,006 | - | -€7,006 | |
| Other amounts receivable | 41 | €16,151 | €2,877 | -€13,274 | -82.2% |
| Current investments | 50/53 | - | €100,000 | +€100,000 | |
| Cash at bank and in hand | 54/58 | €385,334 | €402,321 | +€16,987 | +4.4% |
| Deferred charges and accrued income | 490/1 | €9,478 | €14,046 | +€4,568 | +48.2% |
| Total equity and liabilities | 10/49 | €728,440 | €803,512 | +€75,072 | +10.3% |
| Equity | 10/15 | €695,275 | €773,171 | +€77,896 | +11.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €605,002 | €682,898 | +€77,896 | +12.9% |
| Tax-exempt reserves | 132 | €23,800 | €23,800 | = | 0.0% |
| Distributable reserves | 133 | €581,202 | €659,098 | +€77,896 | +13.4% |
| Profit (loss) carried forward | 14 | €71,673 | €71,673 | = | 0.0% |
| Amounts payable | 17/49 | €33,165 | €30,341 | -€2,824 | -8.5% |
| Amounts payable within one year | 42/48 | €24,776 | €16,476 | -€8,300 | -33.5% |
| Current portion of amounts payable after more than one year | 42 | €11,350 | - | -€11,350 | |
| Trade debts | 44 | €2,763 | €2,151 | -€613 | -22.2% |
| Suppliers | 440/4 | €2,763 | €2,151 | -€613 | -22.2% |
| Taxes, remuneration and social security | 45 | €10,662 | €14,325 | +€3,663 | +34.4% |
| Taxes | 450/3 | €6,251 | €14,325 | +€8,074 | +129% |
| Remuneration and social security | 454/9 | €4,411 | - | -€4,411 | |
| Accrued charges and deferred income | 492/3 | €8,389 | €13,865 | +€5,476 | +65.3% |
| Remuneration, social security and pensions | 62 | €3,922 | €4,008 | +€86 | +2.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,447 | €21,353 | -€20,094 | -48.5% |
| Other operating charges | 640/8 | €1,331 | €673 | -€658 | -49.5% |
| Gross operating margin | 9900 | €127,813 | €125,407 | -€2,406 | -1.9% |
| Operating profit (loss) | 9901 | €81,113 | €99,374 | +€18,260 | +22.5% |
| Financial income | 75/76B | €9,261 | €9,814 | +€553 | +6.0% |
| Recurring financial income | 75 | €9,261 | €9,814 | +€553 | +6.0% |
| Financial charges | 65/66B | €443 | €277 | -€166 | -37.5% |
| Recurring financial charges | 65 | €443 | €277 | -€166 | -37.5% |
| Profit (loss) for the period before taxes | 9903 | €89,931 | €108,911 | +€18,980 | +21.1% |
| Income taxes | 67/77 | €24,459 | €31,015 | +€6,556 | +26.8% |
| Profit (loss) for the period | 9904 | €65,472 | €77,896 | +€12,424 | +19.0% |
| Profit (loss) for the period to be appropriated | 9905 | €65,472 | €77,896 | +€12,424 | +19.0% |
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 14 October 2026 via checked.be.