MEDLOG: 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.
What changed
MEDLOG
NACE 52.250, Logistics services
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€2.1m
2024 · €363,356+€1.8m
Equity
€13.4m
2024 · €11.3m+€2.1m
Cash
€3.9m
2024 · €3.9m-€43,589
Balance sheet total
€40.5m
2024 · €27.0m+€13.5m
Largest movements
Assets
- Receivables within one year +€13.6m
up €13.6m (+59.2%), from €22.9m to €36.5m
of which Trade receivables: +€14.1m
Equity and liabilities
- Trade debts +€11.1m
up €11.1m (+72.5%), from €15.3m to €26.4m
- Profit (loss) carried forward +€2.1m
up €2.1m (+21.3%), from €10.0m to €12.1m
Income statement
- Turnover +€33.8m
up €33.8m (+34.9%), from €96.7m to €130.5m
- Goods and materials +€32.3m
up €32.3m (+35.8%), from €90.4m to €122.8m
- Other operating income +€1.9m
up €1.9m (+1,357%), from €143,187 to €2.1m
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.
Result 2024
€363,356
Turnover
+€33.8m
Other operating income
+€1.9m
Goods and materials
-€32.3m
Services and other goods
-€95,003
Staff costs
-€1.0m
Depreciation
+€3,452
Other operating charges
+€857
Other operating items
+€16,375
Financial income
+€98,550
Financial charges
+€302
Taxes
-€609,959
Result 2025
€2.1m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€502
Investment
-€44,090
Financing
€0
Cash 2024
€3.9m
From operations (derived)
+€502
Net result for the year
+€2.1m
Depreciation
+€64,581
Receivables within one year
-€13.6m
Deferred charges and accrued income
-€1,624
Trade debts
+€11.1m
Tax, wage and social debts
+€255,804
Investment (derived)
-€44,090
Investment in fixed assets (net)
-€44,090
Cash 2025
€3.9m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €27,033,558 | €40,528,550 | +€13.5m | +49.9% |
| Fixed assets | 21/28 | €196,884 | €176,393 | -€20,491 | -10.4% |
| Tangible fixed assets | 22/27 | €142,404 | €145,993 | +€3,589 | +2.5% |
| Land and buildings | 22 | €9,498 | €5,610 | -€3,888 | -40.9% |
| Plant, machinery and equipment | 23 | €46,740 | €58,734 | +€11,994 | +25.7% |
| Furniture and vehicles | 24 | €86,166 | €81,649 | -€4,517 | -5.2% |
| Financial fixed assets | 28 | €54,480 | €30,400 | -€24,080 | -44.2% |
| Affiliated companies | 280/1 | €48,000 | €24,000 | -€24,000 | -50.0% |
| Amounts receivable | 281 | €48,000 | €24,000 | -€24,000 | -50.0% |
| Other financial fixed assets | 284/8 | €6,480 | €6,400 | -€80 | -1.2% |
| Shares | 284 | €80 | - | -€80 | |
| Amounts receivable and cash guarantees | 285/8 | €6,400 | €6,400 | = | 0.0% |
| Current assets | 29/58 | €26,836,674 | €40,352,157 | +€13.5m | +50.4% |
| Amounts receivable within one year | 40/41 | €22,909,845 | €36,467,293 | +€13.6m | +59.2% |
| Trade receivables | 40 | €15,931,622 | €30,030,119 | +€14.1m | +88.5% |
| Other amounts receivable | 41 | €6,978,223 | €6,437,174 | -€541,050 | -7.8% |
| Cash at bank and in hand | 54/58 | €3,908,198 | €3,864,609 | -€43,589 | -1.1% |
| Deferred charges and accrued income | 490/1 | €18,630 | €20,254 | +€1,624 | +8.7% |
| Total equity and liabilities | 10/49 | €27,033,558 | €40,528,550 | +€13.5m | +49.9% |
| Equity | 10/15 | €11,290,591 | €13,424,164 | +€2.1m | +18.9% |
| Contributions | 10/11 | €619,734 | €619,734 | = | 0.0% |
| Capital | 10 | €619,734 | €619,734 | = | 0.0% |
| Issued capital | 100 | €619,734 | €619,734 | = | 0.0% |
| Reserves | 13 | €661,973 | €661,973 | = | 0.0% |
| Non-distributable reserves | 130/1 | €61,973 | €61,973 | = | 0.0% |
| Legal reserve | 130 | €61,973 | €61,973 | = | 0.0% |
| Distributable reserves | 133 | €600,000 | €600,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,008,884 | €12,142,457 | +€2.1m | +21.3% |
| Amounts payable | 17/49 | €15,742,966 | €27,104,386 | +€11.4m | +72.2% |
| Amounts payable within one year | 42/48 | €15,742,966 | €27,104,386 | +€11.4m | +72.2% |
| Trade debts | 44 | €15,316,219 | €26,421,835 | +€11.1m | +72.5% |
| Suppliers | 440/4 | €15,316,219 | €26,421,835 | +€11.1m | +72.5% |
| Taxes, remuneration and social security | 45 | €426,747 | €682,551 | +€255,804 | +59.9% |
| Taxes | 450/3 | - | €150,000 | +€150,000 | |
| Remuneration and social security | 454/9 | €426,747 | €532,551 | +€105,804 | +24.8% |
| Operating income | 70/76A | €96,846,517 | €132,562,142 | +€35.7m | +36.9% |
| Turnover | 70 | €96,697,264 | €130,473,616 | +€33.8m | +34.9% |
| Other operating income | 74 | €143,187 | €2,086,047 | +€1.9m | +1,357% |
| Non-recurring operating income | 76A | €6,066 | €2,479 | -€3,586 | -59.1% |
| Operating charges | 60/66A | €96,431,931 | €129,866,234 | +€33.4m | +34.7% |
| Goods for resale, raw materials and consumables | 60 | €90,413,233 | €122,750,532 | +€32.3m | +35.8% |
| Purchases | 600/8 | €90,413,233 | €122,750,532 | +€32.3m | +35.8% |
| Services and other goods | 61 | €1,850,785 | €1,945,788 | +€95,003 | +5.1% |
| Remuneration, social security and pensions | 62 | €4,076,383 | €5,102,655 | +€1.0m | +25.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €68,034 | €64,581 | -€3,452 | -5.1% |
| Other operating charges | 640/8 | €3,533 | €2,677 | -€857 | -24.2% |
| Non-recurring operating charges | 66A | €19,962 | - | -€19,962 | |
| Operating profit (loss) | 9901 | €414,586 | €2,695,908 | +€2.3m | +550% |
| Financial income | 75/76B | €110,394 | €208,944 | +€98,550 | +89.3% |
| Recurring financial income | 75 | €110,394 | €208,944 | +€98,550 | +89.3% |
| Income from financial fixed assets | 750 | €110,392 | €208,921 | +€98,528 | +89.3% |
| Other financial income | 752/9 | €1 | €23 | +€22 | +1,645% |
| Financial charges | 65/66B | €1,331 | €1,029 | -€302 | -22.7% |
| Recurring financial charges | 65 | €1,331 | €1,029 | -€302 | -22.7% |
| Debt charges | 650 | €34 | - | -€34 | |
| Other financial charges | 652/9 | €1,297 | €1,029 | -€268 | -20.7% |
| Profit (loss) for the period before taxes | 9903 | €523,649 | €2,903,824 | +€2.4m | +455% |
| Income taxes | 67/77 | €160,292 | €770,251 | +€609,959 | +381% |
| Taxes | 670/3 | €160,292 | €770,251 | +€609,959 | +381% |
| Profit (loss) for the period | 9904 | €363,356 | €2,133,573 | +€1.8m | +487% |
| Profit (loss) for the period to be appropriated | 9905 | €363,356 | €2,133,573 | +€1.8m | +487% |
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 15 October 2026 via checked.be.