Financial results

The consolidated result for 2025 amounted to €38.3 million and was therefore €8.5 million above budget. Both higher revenues and higher costs contributed to this positive result. The higher revenues were mainly related to increased healthcare revenues, partly due to tariff indexation, and to higher other revenues, including externally funded research and the outpatient pharmacy. On the other hand, there were higher expenses, particularly rising personnel costs as a result of collective labor agreement developments. 

Further efficiency improvements are necessary to absorb future increases in capital costs related to the renovation and new construction, as well as the expected external budget cuts to the academic component and training programs. In this context, the long-term objective has been formulated to achieve an EBITDA of €110 million in 2029. To achieve this objective, an additional cost-saving program has been initiated.