MEDSAM: 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.
MEDSAM
Largest movements
- Cash -€80,938
down €80,938 (-42.0%), from €192,815 to €111,876
mainly Receivables within one year (-€49,795) and Contributions, distributions and other (-€25,000)
- Receivables within one year +€49,795
up €49,795 (+38.5%), from €129,344 to €179,139
of which Other amounts receivable: +€63,591
- Stocks and contracts +€5,359
up €5,359 (+3.8%), from €141,668 to €147,026
- Reserves +€19,663
up €19,663 (+6.5%), from €304,495 to €324,158
- Trade debts -€18,223
down €18,223 (-20.5%), from €88,732 to €70,510
- Other debts -€15,550
down €15,550 (-37.9%), from €41,036 to €25,486
- Tax, wage and social debts -€7,426
down €7,426 (-89.9%), from €8,258 to €831
of which Remuneration and social security: -€7,270
- Gross operating margin -€20,489
down €20,489 (-10.0%), from €204,286 to €183,797
- Staff costs +€11,917
up €11,917 (+11.2%), from €106,163 to €118,080
- Other operating charges -€6,003
down €6,003 (-52.6%), from €11,413 to €5,410
- Taxes -€3,770
down €3,770 (-33.3%), from €11,339 to €7,568
- Financial charges +€3,507
up €3,507 (+69.5%), from €5,044 to €8,551
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 | €465,395 | €439,586 | -€25,809 | -5.5% |
| Fixed assets | 21/28 | €1,217 | €670 | -€547 | -45.0% |
| Tangible fixed assets | 22/27 | €1,217 | €670 | -€547 | -45.0% |
| Plant, machinery and equipment | 23 | €548 | €415 | -€133 | -24.3% |
| Furniture and vehicles | 24 | €669 | €255 | -€414 | -61.9% |
| Current assets | 29/58 | €464,178 | €438,916 | -€25,262 | -5.4% |
| Stocks and contracts in progress | 3 | €141,668 | €147,026 | +€5,359 | +3.8% |
| Stocks | 30/36 | €141,668 | €147,026 | +€5,359 | +3.8% |
| Amounts receivable within one year | 40/41 | €129,344 | €179,139 | +€49,795 | +38.5% |
| Trade receivables | 40 | €110,325 | €96,529 | -€13,796 | -12.5% |
| Other amounts receivable | 41 | €19,019 | €82,610 | +€63,591 | +334.4% |
| Cash at bank and in hand | 54/58 | €192,815 | €111,876 | -€80,938 | -42.0% |
| Deferred charges and accrued income | 490/1 | €352 | €874 | +€522 | +148.5% |
| Total equity and liabilities | 10/49 | €465,395 | €439,586 | -€25,809 | -5.5% |
| Equity | 10/15 | €323,095 | €342,758 | +€19,663 | +6.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €304,495 | €324,158 | +€19,663 | +6.5% |
| Distributable reserves | 133 | €304,495 | €324,158 | +€19,663 | +6.5% |
| Amounts payable | 17/49 | €142,300 | €96,827 | -€45,473 | -32.0% |
| Amounts payable within one year | 42/48 | €142,300 | €96,827 | -€45,473 | -32.0% |
| Current portion of amounts payable after more than one year | 42 | €4,274 | - | -€4,274 | |
| Trade debts | 44 | €88,732 | €70,510 | -€18,223 | -20.5% |
| Suppliers | 440/4 | €88,732 | €70,510 | -€18,223 | -20.5% |
| Taxes, remuneration and social security | 45 | €8,258 | €831 | -€7,426 | -89.9% |
| Taxes | 450/3 | €156 | - | -€156 | |
| Remuneration and social security | 454/9 | €8,102 | €831 | -€7,270 | -89.7% |
| Other amounts payable | 47/48 | €41,036 | €25,486 | -€15,550 | -37.9% |
| Remuneration, social security and pensions | 62 | €106,163 | €118,080 | +€11,917 | +11.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €678 | €547 | -€130 | -19.2% |
| Other operating charges | 640/8 | €11,413 | €5,410 | -€6,003 | -52.6% |
| Gross operating margin | 9900 | €204,286 | €183,797 | -€20,489 | -10.0% |
| Operating profit (loss) | 9901 | €86,033 | €59,759 | -€26,273 | -30.5% |
| Financial income | 75/76B | €1,371 | €1,023 | -€348 | -25.4% |
| Recurring financial income | 75 | €1,371 | €1,023 | -€348 | -25.4% |
| Financial charges | 65/66B | €5,044 | €8,551 | +€3,507 | +69.5% |
| Recurring financial charges | 65 | €5,044 | €8,551 | +€3,507 | +69.5% |
| Profit (loss) for the period before taxes | 9903 | €82,360 | €52,232 | -€30,128 | -36.6% |
| Income taxes | 67/77 | €11,339 | €7,568 | -€3,770 | -33.3% |
| Profit (loss) for the period | 9904 | €71,021 | €44,663 | -€26,358 | -37.1% |
| Profit (loss) for the period to be appropriated | 9905 | €71,021 | €44,663 | -€26,358 | -37.1% |
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 7 October 2026 via checked.be.