MZ Medicare: 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.
MZ Medicare
Largest movements
- Receivables within one year +€30,891
new in 2025: €30,891
- Tangible fixed assets -€16,383
down €16,383 (-3.1%), from €522,525 to €506,142
of which Furniture and vehicles: -€13,012
- Current investments -€12,767
down €12,767 (-3.0%), from €428,669 to €415,902
- Other debts +€136,293
up €136,293 (+181,313%), from €75 to €136,368
- Reserves -€123,839
down €123,839 (-17.8%), from €694,981 to €571,142
of which Distributable reserves: -€123,839
- Debts after one year -€25,874
down €25,874 (-12.0%), from €214,808 to €188,934
- Tax, wage and social debts +€21,397
up €21,397 (+158%), from €13,568 to €34,965
- Financial income -€15,839
down €15,839 (-91.0%), from €17,405 to €1,566
- Gross operating margin +€5,808
up €5,808 (+2.7%), from €211,814 to €217,622
- Taxes +€2,940
up €2,940 (+5.6%), from €52,418 to €55,358
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 | €967,541 | €975,461 | +€7,920 | +0.8% |
| Fixed assets | 21/28 | €522,560 | €506,177 | -€16,383 | -3.1% |
| Tangible fixed assets | 22/27 | €522,525 | €506,142 | -€16,383 | -3.1% |
| Land and buildings | 22 | €408,210 | €411,511 | +€3,301 | +0.8% |
| Plant, machinery and equipment | 23 | €1,588 | €1,302 | -€286 | -18.0% |
| Furniture and vehicles | 24 | €60,963 | €47,950 | -€13,012 | -21.3% |
| Other tangible fixed assets | 26 | €51,764 | €45,379 | -€6,385 | -12.3% |
| Financial fixed assets | 28 | €35 | €35 | = | 0.0% |
| Current assets | 29/58 | €444,982 | €469,284 | +€24,303 | +5.5% |
| Amounts receivable within one year | 40/41 | - | €30,891 | +€30,891 | |
| Trade receivables | 40 | - | €30,891 | +€30,891 | |
| Current investments | 50/53 | €428,669 | €415,902 | -€12,767 | -3.0% |
| Cash at bank and in hand | 54/58 | €10,303 | €16,744 | +€6,442 | +62.5% |
| Deferred charges and accrued income | 490/1 | €6,010 | €5,747 | -€263 | -4.4% |
| Total equity and liabilities | 10/49 | €967,541 | €975,461 | +€7,920 | +0.8% |
| Equity | 10/15 | €707,381 | €583,542 | -€123,839 | -17.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €694,981 | €571,142 | -€123,839 | -17.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €693,121 | €569,282 | -€123,839 | -17.9% |
| Amounts payable | 17/49 | €260,160 | €391,920 | +€131,759 | +50.6% |
| Amounts payable after more than one year | 17 | €214,808 | €188,934 | -€25,874 | -12.0% |
| Financial debts | 170/4 | €214,808 | €188,934 | -€25,874 | -12.0% |
| Amounts payable within one year | 42/48 | €44,261 | €200,166 | +€155,906 | +352% |
| Current portion of amounts payable after more than one year | 42 | €25,294 | €25,874 | +€580 | +2.3% |
| Trade debts | 44 | €5,323 | €2,959 | -€2,364 | -44.4% |
| Suppliers | 440/4 | €5,323 | €2,959 | -€2,364 | -44.4% |
| Taxes, remuneration and social security | 45 | €13,568 | €34,965 | +€21,397 | +158% |
| Taxes | 450/3 | €13,568 | €34,965 | +€21,397 | +158% |
| Other amounts payable | 47/48 | €75 | €136,368 | +€136,293 | +181,313% |
| Accrued charges and deferred income | 492/3 | €1,091 | €2,819 | +€1,728 | +158% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,511 | €38,514 | +€2,003 | +5.5% |
| Other operating charges | 640/8 | €403 | €1,461 | +€1,058 | +262% |
| Gross operating margin | 9900 | €211,814 | €217,622 | +€5,808 | +2.7% |
| Operating profit (loss) | 9901 | €174,899 | €177,646 | +€2,747 | +1.6% |
| Financial income | 75/76B | €17,405 | €1,566 | -€15,839 | -91.0% |
| Recurring financial income | 75 | €17,405 | €1,566 | -€15,839 | -91.0% |
| Financial charges | 65/66B | €11,837 | €10,200 | -€1,637 | -13.8% |
| Recurring financial charges | 65 | €11,837 | €10,200 | -€1,637 | -13.8% |
| Profit (loss) for the period before taxes | 9903 | €180,468 | €169,013 | -€11,455 | -6.3% |
| Income taxes | 67/77 | €52,418 | €55,358 | +€2,940 | +5.6% |
| Profit (loss) for the period | 9904 | €128,049 | €113,655 | -€14,394 | -11.2% |
| Profit (loss) for the period to be appropriated | 9905 | €128,049 | €113,655 | -€14,394 | -11.2% |
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 26 October 2026 via checked.be.