MEDOXY: what changed
Two fiscal 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.
MEDOXY
Largest movements
- Tangible fixed assets +€337,200
up €337,200 (+703.2%), from €47,954 to €385,154
of which Land and buildings: +€318,790
- Cash -€104,827
down €104,827 (-59.8%), from €175,329 to €70,501
mainly Investment in fixed assets (net) (-€399,304) and Contributions, distributions and other (-€100,000)
- Receivables within one year -€6,810
down €6,810 (-41.1%), from €16,577 to €9,767
of which Other amounts receivable: -€7,002
- Debts after one year +€288,757
up €288,757 (+1924.1%), from €15,008 to €303,764
- Profit (loss) carried forward -€87,538
down €87,538 (-45.1%), from €194,312 to €106,773
- Other debts +€29,695
new in 2025: €29,695
- Tax, wage and social debts -€9,085
down €9,085 (-32.4%), from €28,013 to €18,928
- Depreciation +€49,133
up €49,133 (+378.8%), from €12,972 to €62,104
- Taxes -€15,256
down €15,256 (-98.9%), from €15,425 to €169
- Gross operating margin -€9,137
down €9,137 (-9.9%), from €92,379 to €83,242
- Financial charges +€4,247
up €4,247 (+103.9%), from €4,089 to €8,335
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.
Cash bridge derived
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 | €243,800 | €465,831 | +€222,031 | +91.1% |
| Fixed assets | 21/28 | €47,954 | €385,154 | +€337,200 | +703.2% |
| Tangible fixed assets | 22/27 | €47,954 | €385,154 | +€337,200 | +703.2% |
| Land and buildings | 22 | - | €318,790 | +€318,790 | |
| Plant, machinery and equipment | 23 | €27,030 | €48,046 | +€21,016 | +77.8% |
| Furniture and vehicles | 24 | €20,925 | €18,318 | -€2,606 | -12.5% |
| Current assets | 29/58 | €195,846 | €80,677 | -€115,169 | -58.8% |
| Amounts receivable within one year | 40/41 | €16,577 | €9,767 | -€6,810 | -41.1% |
| Trade receivables | 40 | - | €192 | +€192 | |
| Other amounts receivable | 41 | €16,577 | €9,575 | -€7,002 | -42.2% |
| Cash at bank and in hand | 54/58 | €175,329 | €70,501 | -€104,827 | -59.8% |
| Deferred charges and accrued income | 490/1 | €3,940 | €408 | -€3,532 | -89.6% |
| Total equity and liabilities | 10/49 | €243,800 | €465,831 | +€222,031 | +91.1% |
| Equity | 10/15 | €196,312 | €108,773 | -€87,538 | -44.6% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €194,312 | €106,773 | -€87,538 | -45.1% |
| Amounts payable | 17/49 | €47,488 | €357,058 | +€309,569 | +651.9% |
| Amounts payable after more than one year | 17 | €15,008 | €303,764 | +€288,757 | +1924.1% |
| Financial debts | 170/4 | €15,008 | €303,764 | +€288,757 | +1924.1% |
| Amounts payable within one year | 42/48 | €32,481 | €53,294 | +€20,813 | +64.1% |
| Current portion of amounts payable after more than one year | 42 | €4,441 | €4,643 | +€202 | +4.6% |
| Trade debts | 44 | €26 | €27 | +€1 | +2.6% |
| Suppliers | 440/4 | €26 | €27 | +€1 | +2.6% |
| Taxes, remuneration and social security | 45 | €28,013 | €18,928 | -€9,085 | -32.4% |
| Taxes | 450/3 | €28,013 | €18,928 | -€9,085 | -32.4% |
| Other amounts payable | 47/48 | - | €29,695 | +€29,695 | |
| Remuneration, social security and pensions | 62 | - | €25 | +€25 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,972 | €62,104 | +€49,133 | +378.8% |
| Other operating charges | 640/8 | €301 | €151 | -€150 | -49.9% |
| Gross operating margin | 9900 | €92,379 | €83,242 | -€9,137 | -9.9% |
| Operating profit (loss) | 9901 | €79,106 | €20,962 | -€58,144 | -73.5% |
| Financial income | 75/76B | €515 | €4 | -€512 | -99.2% |
| Recurring financial income | 75 | €515 | €4 | -€512 | -99.2% |
| Financial charges | 65/66B | €4,089 | €8,335 | +€4,247 | +103.9% |
| Recurring financial charges | 65 | €4,089 | €8,335 | +€4,247 | +103.9% |
| Profit (loss) for the period before taxes | 9903 | €75,533 | €12,631 | -€62,902 | -83.3% |
| Income taxes | 67/77 | €15,425 | €169 | -€15,256 | -98.9% |
| Profit (loss) for the period | 9904 | €60,108 | €12,462 | -€47,646 | -79.3% |
| Profit (loss) for the period to be appropriated | 9905 | €60,108 | €12,462 | -€47,646 | -79.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.