MEDLINE: 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.
MEDLINE
Largest movements
- Receivables within one year -€443,768
down €443,768 (-72.5%), from €611,746 to €167,978
of which Other amounts receivable: -€460,198
- Cash -€109,201
down €109,201 (-13.5%), from €808,207 to €699,006
mainly Other debts (-€285,872) and Contributions, distributions and other (-€270,000)
- Stocks and contracts -€34,875
down €34,875 (-38.6%), from €90,250 to €55,375
- Tangible fixed assets -€27,282
down €27,282 (-22.9%), from €119,296 to €92,014
of which Furniture and vehicles: -€27,070
- Other debts -€285,872
no longer reported in 2025 (was €285,872)
- Trade debts -€151,076
down €151,076 (-35.0%), from €431,394 to €280,318
- Reserves -€143,000
down €143,000 (-20.3%), from €705,660 to €562,660
of which Distributable reserves: -€143,000
- Debts after one year -€25,310
down €25,310 (-45.1%), from €56,146 to €30,836
- Gross operating margin +€50,403
up €50,403 (+14.2%), from €354,413 to €404,816
- Financial charges +€8,788
up €8,788 (+93.9%), from €9,358 to €18,146
of which Non-recurring financial charges: +€9,500
- Staff costs +€7,699
up €7,699 (+5.1%), from €151,606 to €159,305
- Taxes +€6,753
up €6,753 (+12.4%), from €54,672 to €61,425
- Financial income -€5,148
down €5,148 (-65.5%), from €7,865 to €2,717
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 | €1,654,709 | €1,043,495 | -€611,214 | -36.9% |
| Fixed assets | 21/28 | €144,506 | €119,051 | -€25,455 | -17.6% |
| Intangible fixed assets | 21 | €8,321 | €5,398 | -€2,923 | -35.1% |
| Tangible fixed assets | 22/27 | €119,296 | €92,014 | -€27,282 | -22.9% |
| Furniture and vehicles | 24 | €103,279 | €76,209 | -€27,070 | -26.2% |
| Other tangible fixed assets | 26 | €16,017 | €15,805 | -€212 | -1.3% |
| Financial fixed assets | 28 | €16,889 | €21,639 | +€4,750 | +28.1% |
| Current assets | 29/58 | €1,510,203 | €924,444 | -€585,759 | -38.8% |
| Stocks and contracts in progress | 3 | €90,250 | €55,375 | -€34,875 | -38.6% |
| Stocks | 30/36 | €90,250 | €55,375 | -€34,875 | -38.6% |
| Amounts receivable within one year | 40/41 | €611,746 | €167,978 | -€443,768 | -72.5% |
| Trade receivables | 40 | €44,365 | €60,795 | +€16,430 | +37.0% |
| Other amounts receivable | 41 | €567,381 | €107,183 | -€460,198 | -81.1% |
| Cash at bank and in hand | 54/58 | €808,207 | €699,006 | -€109,201 | -13.5% |
| Deferred charges and accrued income | 490/1 | - | €2,085 | +€2,085 | |
| Total equity and liabilities | 10/49 | €1,654,709 | €1,043,495 | -€611,214 | -36.9% |
| Equity | 10/15 | €807,263 | €665,352 | -€141,911 | -17.6% |
| Contributions | 10/11 | €62,200 | €62,200 | = | 0.0% |
| Capital | 10 | €62,200 | €62,200 | = | 0.0% |
| Issued capital | 100 | €62,200 | €62,200 | = | 0.0% |
| Reserves | 13 | €705,660 | €562,660 | -€143,000 | -20.3% |
| Non-distributable reserves | 130/1 | €6,220 | €6,220 | = | 0.0% |
| Legal reserve | 130 | €6,220 | €6,220 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,440 | €1,440 | = | 0.0% |
| Distributable reserves | 133 | €698,000 | €555,000 | -€143,000 | -20.5% |
| Profit (loss) carried forward | 14 | €39,403 | €40,492 | +€1,089 | +2.8% |
| Amounts payable | 17/49 | €847,446 | €378,143 | -€469,303 | -55.4% |
| Amounts payable after more than one year | 17 | €56,146 | €30,836 | -€25,310 | -45.1% |
| Financial debts | 170/4 | €56,146 | €30,836 | -€25,310 | -45.1% |
| Amounts payable within one year | 42/48 | €791,300 | €346,499 | -€444,801 | -56.2% |
| Current portion of amounts payable after more than one year | 42 | €24,318 | €25,310 | +€992 | +4.1% |
| Trade debts | 44 | €431,394 | €280,318 | -€151,076 | -35.0% |
| Suppliers | 440/4 | €431,394 | €280,318 | -€151,076 | -35.0% |
| Taxes, remuneration and social security | 45 | €49,716 | €40,871 | -€8,845 | -17.8% |
| Taxes | 450/3 | €26,078 | €17,475 | -€8,603 | -33.0% |
| Remuneration and social security | 454/9 | €23,638 | €23,396 | -€242 | -1.0% |
| Other amounts payable | 47/48 | €285,872 | - | -€285,872 | |
| Accrued charges and deferred income | 492/3 | - | €808 | +€808 | |
| Remuneration, social security and pensions | 62 | €151,606 | €159,305 | +€7,699 | +5.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,952 | €37,865 | +€3,913 | +11.5% |
| Other operating charges | 640/8 | €1,256 | €2,703 | +€1,447 | +115% |
| Gross operating margin | 9900 | €354,413 | €404,816 | +€50,403 | +14.2% |
| Operating profit (loss) | 9901 | €167,599 | €204,943 | +€37,344 | +22.3% |
| Financial income | 75/76B | €7,865 | €2,717 | -€5,148 | -65.5% |
| Recurring financial income | 75 | €7,865 | €2,717 | -€5,148 | -65.5% |
| Financial charges | 65/66B | €9,358 | €18,146 | +€8,788 | +93.9% |
| Recurring financial charges | 65 | €9,358 | €8,646 | -€712 | -7.6% |
| Non-recurring financial charges | 66B | - | €9,500 | +€9,500 | |
| Profit (loss) for the period before taxes | 9903 | €166,106 | €189,514 | +€23,408 | +14.1% |
| Income taxes | 67/77 | €54,672 | €61,425 | +€6,753 | +12.4% |
| Profit (loss) for the period | 9904 | €111,434 | €128,089 | +€16,655 | +14.9% |
| Profit (loss) for the period to be appropriated | 9905 | €111,434 | €128,089 | +€16,655 | +14.9% |
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 18 October 2026 via checked.be.