Docteur BENOIT Arnaud: 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.
Docteur BENOIT Arnaud
Largest movements
- Financial fixed assets +€204,000
new in 2025: €204,000
- Cash -€99,905
down €99,905 (-63.8%), from €156,511 to €56,605
mainly Contributions, distributions and other (-€360,000) and Investment in fixed assets (net) (-€225,979)
- Deferred charges and accrued income -€38,682
down €38,682 (-63.9%), from €60,488 to €21,806
- Tangible fixed assets -€34,521
down €34,521 (-5.2%), from €659,478 to €624,957
of which Land and buildings: -€22,712
- Receivables within one year +€13,513
new in 2025: €13,513
- Profit (loss) carried forward +€209,900
up €209,900 (+47.0%), from €446,410 to €656,310
- Other debts -€119,657
no longer reported in 2025 (was €119,657)
- Tax, wage and social debts -€28,656
down €28,656 (-48.5%), from €59,068 to €30,412
of which Taxes: -€26,696
- Gross operating margin +€52,490
up €52,490 (+6.3%), from €833,160 to €885,650
- Taxes +€9,551
up €9,551 (+5.3%), from €181,033 to €190,584
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 | €876,477 | €920,881 | +€44,404 | +5.1% |
| Fixed assets | 21/28 | €659,478 | €828,957 | +€169,479 | +25.7% |
| Tangible fixed assets | 22/27 | €659,478 | €624,957 | -€34,521 | -5.2% |
| Land and buildings | 22 | €604,612 | €581,901 | -€22,712 | -3.8% |
| Furniture and vehicles | 24 | €54,866 | €43,056 | -€11,810 | -21.5% |
| Financial fixed assets | 28 | - | €204,000 | +€204,000 | |
| Current assets | 29/58 | €216,999 | €91,924 | -€125,074 | -57.6% |
| Amounts receivable within one year | 40/41 | - | €13,513 | +€13,513 | |
| Other amounts receivable | 41 | - | €13,513 | +€13,513 | |
| Cash at bank and in hand | 54/58 | €156,511 | €56,605 | -€99,905 | -63.8% |
| Deferred charges and accrued income | 490/1 | €60,488 | €21,806 | -€38,682 | -63.9% |
| Total equity and liabilities | 10/49 | €876,477 | €920,881 | +€44,404 | +5.1% |
| Equity | 10/15 | €533,610 | €743,510 | +€209,900 | +39.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €84,200 | €84,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €84,200 | €84,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €446,410 | €656,310 | +€209,900 | +47.0% |
| Amounts payable | 17/49 | €342,866 | €177,371 | -€165,495 | -48.3% |
| Amounts payable after more than one year | 17 | €121,226 | €114,477 | -€6,750 | -5.6% |
| Financial debts | 170/4 | €121,226 | €114,477 | -€6,750 | -5.6% |
| Amounts payable within one year | 42/48 | €200,038 | €43,009 | -€157,029 | -78.5% |
| Current portion of amounts payable after more than one year | 42 | €12,240 | €6,750 | -€5,491 | -44.9% |
| Trade debts | 44 | €9,073 | €5,848 | -€3,225 | -35.5% |
| Suppliers | 440/4 | €9,073 | €5,848 | -€3,225 | -35.5% |
| Taxes, remuneration and social security | 45 | €59,068 | €30,412 | -€28,656 | -48.5% |
| Taxes | 450/3 | €53,931 | €27,235 | -€26,696 | -49.5% |
| Remuneration and social security | 454/9 | €5,137 | €3,177 | -€1,960 | -38.2% |
| Other amounts payable | 47/48 | €119,657 | - | -€119,657 | |
| Accrued charges and deferred income | 492/3 | €21,602 | €19,885 | -€1,717 | -7.9% |
| Remuneration, social security and pensions | 62 | €59,608 | €62,967 | +€3,359 | +5.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,616 | €56,500 | +€2,884 | +5.4% |
| Other operating charges | 640/8 | €3,604 | €2,937 | -€667 | -18.5% |
| Gross operating margin | 9900 | €833,160 | €885,650 | +€52,490 | +6.3% |
| Operating profit (loss) | 9901 | €716,332 | €763,246 | +€46,914 | +6.5% |
| Financial income | 75/76B | €6 | €271 | +€265 | +4,428% |
| Recurring financial income | 75 | €6 | €271 | +€265 | +4,428% |
| Financial charges | 65/66B | €4,697 | €3,034 | -€1,663 | -35.4% |
| Recurring financial charges | 65 | €4,697 | €3,034 | -€1,663 | -35.4% |
| Profit (loss) for the period before taxes | 9903 | €711,641 | €760,483 | +€48,842 | +6.9% |
| Income taxes | 67/77 | €181,033 | €190,584 | +€9,551 | +5.3% |
| Profit (loss) for the period | 9904 | €530,609 | €569,900 | +€39,291 | +7.4% |
| Transfer to tax-exempt reserves | 689 | €84,200 | - | -€84,200 | |
| Profit (loss) for the period to be appropriated | 9905 | €446,409 | €569,900 | +€123,491 | +27.7% |
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 23 October 2026 via checked.be.