MEDRAD: 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.
MEDRAD
Largest movements
- Cash +€206,069
up €206,069 (+234.2%), from €87,993 to €294,062
mainly Net result for the year (+€188,989) and Tax, wage and social debts (+€57,244)
- Tangible fixed assets +€44,351
up €44,351 (+186.6%), from €23,764 to €68,116
of which Furniture and vehicles: +€45,665
- Reserves +€188,989
up €188,989 (+503.5%), from €37,532 to €226,521
- Tax, wage and social debts +€57,244
up €57,244 (+448.0%), from €12,776 to €70,020
of which Taxes: +€57,293
- Gross operating margin +€283,671
up €283,671 (+433.6%), from €65,426 to €349,097
- Staff costs +€55,577
up €55,577 (+416.7%), from €13,338 to €68,915
- Taxes +€44,566
up €44,566 (+350.2%), from €12,727 to €57,293
- Other operating charges +€20,055
new in 2025: €20,055
- Depreciation +€11,961
up €11,961 (+653.7%), from €1,830 to €13,790
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 | €127,720 | €379,900 | +€252,180 | +197.4% |
| Fixed assets | 21/28 | €23,764 | €68,116 | +€44,351 | +186.6% |
| Tangible fixed assets | 22/27 | €23,764 | €68,116 | +€44,351 | +186.6% |
| Plant, machinery and equipment | 23 | €2,949 | €2,450 | -€499 | -16.9% |
| Furniture and vehicles | 24 | €13,205 | €58,870 | +€45,665 | +345.8% |
| Other tangible fixed assets | 26 | €7,611 | €6,795 | -€815 | -10.7% |
| Current assets | 29/58 | €103,956 | €311,784 | +€207,828 | +199.9% |
| Amounts receivable within one year | 40/41 | €15,963 | €17,723 | +€1,760 | +11.0% |
| Trade receivables | 40 | €15,963 | €17,089 | +€1,126 | +7.1% |
| Other amounts receivable | 41 | - | €633 | +€633 | |
| Cash at bank and in hand | 54/58 | €87,993 | €294,062 | +€206,069 | +234.2% |
| Total equity and liabilities | 10/49 | €127,720 | €379,900 | +€252,180 | +197.4% |
| Equity | 10/15 | €40,532 | €229,521 | +€188,989 | +466.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €37,532 | €226,521 | +€188,989 | +503.5% |
| Distributable reserves | 133 | €37,532 | €226,521 | +€188,989 | +503.5% |
| Amounts payable | 17/49 | €87,188 | €150,379 | +€63,191 | +72.5% |
| Amounts payable within one year | 42/48 | €87,188 | €150,379 | +€63,191 | +72.5% |
| Trade debts | 44 | €1,075 | €4,213 | +€3,138 | +291.9% |
| Suppliers | 440/4 | €1,075 | €4,213 | +€3,138 | +291.9% |
| Taxes, remuneration and social security | 45 | €12,776 | €70,020 | +€57,244 | +448.0% |
| Taxes | 450/3 | €12,727 | €70,020 | +€57,293 | +450.2% |
| Remuneration and social security | 454/9 | €50 | - | -€50 | |
| Other amounts payable | 47/48 | €73,337 | €76,146 | +€2,809 | +3.8% |
| Remuneration, social security and pensions | 62 | €13,338 | €68,915 | +€55,577 | +416.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,830 | €13,790 | +€11,961 | +653.7% |
| Other operating charges | 640/8 | - | €20,055 | +€20,055 | |
| Gross operating margin | 9900 | €65,426 | €349,097 | +€283,671 | +433.6% |
| Operating profit (loss) | 9901 | €50,259 | €246,337 | +€196,078 | +390.1% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €0 | €55 | +€55 | +61011.1% |
| Recurring financial charges | 65 | €0 | €55 | +€55 | +61011.1% |
| Profit (loss) for the period before taxes | 9903 | €50,259 | €246,282 | +€196,024 | +390.0% |
| Income taxes | 67/77 | €12,727 | €57,293 | +€44,566 | +350.2% |
| Profit (loss) for the period | 9904 | €37,532 | €188,989 | +€151,457 | +403.5% |
| Profit (loss) for the period to be appropriated | 9905 | €37,532 | €188,989 | +€151,457 | +403.5% |
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 10 October 2026 via checked.be.