DOCTEUR DAVIN: 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 DAVIN
Largest movements
- Current investments +€135,789
new in 2025: €135,789
- Cash -€86,137
down €86,137 (-48.8%), from €176,368 to €90,231
mainly Current investments (-€135,789) and Contributions, distributions and other (-€60,000)
- Financial fixed assets +€50,000
up €50,000 (+50.0%), from €100,075 to €150,075
- Receivables within one year +€26,823
up €26,823 (+56.4%), from €47,535 to €74,358
of which Other amounts receivable: +€22,743
- Tangible fixed assets -€8,897
down €8,897 (-28.8%), from €30,917 to €22,020
of which Furniture and vehicles: -€9,437
- Reserves +€60,000
up €60,000 (+28.4%), from €210,983 to €270,983
- Other debts +€57,467
up €57,467 (+2,268%), from €2,533 to €60,000
- Financial charges +€25,441
up €25,441 (+1,531%), from €1,662 to €27,103
of which Non-recurring financial charges: +€22,749
- Gross operating margin +€11,245
up €11,245 (+6.0%), from €187,466 to €198,711
- Financial income +€4,624
up €4,624 (+873%), from €530 to €5,154
- Taxes +€2,751
up €2,751 (+6.0%), from €45,757 to €48,507
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 | €356,071 | €474,296 | +€118,225 | +33.2% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €130,992 | €172,095 | +€41,103 | +31.4% |
| Tangible fixed assets | 22/27 | €30,917 | €22,020 | -€8,897 | -28.8% |
| Furniture and vehicles | 24 | €30,917 | €21,480 | -€9,437 | -30.5% |
| Other tangible fixed assets | 26 | - | €540 | +€540 | |
| Financial fixed assets | 28 | €100,075 | €150,075 | +€50,000 | +50.0% |
| Current assets | 29/58 | €225,079 | €302,201 | +€77,122 | +34.3% |
| Amounts receivable within one year | 40/41 | €47,535 | €74,358 | +€26,823 | +56.4% |
| Trade receivables | 40 | €47,535 | €51,615 | +€4,080 | +8.6% |
| Other amounts receivable | 41 | - | €22,743 | +€22,743 | |
| Current investments | 50/53 | - | €135,789 | +€135,789 | |
| Cash at bank and in hand | 54/58 | €176,368 | €90,231 | -€86,137 | -48.8% |
| Deferred charges and accrued income | 490/1 | €1,176 | €1,824 | +€648 | +55.1% |
| Total equity and liabilities | 10/49 | €356,071 | €474,296 | +€118,225 | +33.2% |
| Equity | 10/15 | €337,562 | €395,220 | +€57,658 | +17.1% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Contributions outside capital | 11 | €2,000 | - | -€2,000 | |
| Other | 1109/19 | €2,000 | - | -€2,000 | |
| Reserves | 13 | €210,983 | €270,983 | +€60,000 | +28.4% |
| Distributable reserves | 133 | €210,983 | €270,983 | +€60,000 | +28.4% |
| Profit (loss) carried forward | 14 | €124,580 | €122,237 | -€2,342 | -1.9% |
| Amounts payable | 17/49 | €18,509 | €79,076 | +€60,567 | +327% |
| Amounts payable within one year | 42/48 | €18,509 | €79,076 | +€60,567 | +327% |
| Financial debts | 43 | €15,219 | €15,251 | +€31 | +0.2% |
| Credit institutions | 430/8 | €15,219 | €15,251 | +€31 | +0.2% |
| Trade debts | 44 | - | €1,619 | +€1,619 | |
| Suppliers | 440/4 | - | €1,619 | +€1,619 | |
| Taxes, remuneration and social security | 45 | €757 | €2,207 | +€1,450 | +192% |
| Taxes | 450/3 | €757 | €2,207 | +€1,450 | +192% |
| Other amounts payable | 47/48 | €2,533 | €60,000 | +€57,467 | +2,268% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,723 | €9,437 | -€286 | -2.9% |
| Other operating charges | 640/8 | €2,277 | €1,160 | -€1,117 | -49.1% |
| Gross operating margin | 9900 | €187,466 | €198,711 | +€11,245 | +6.0% |
| Operating profit (loss) | 9901 | €175,466 | €188,114 | +€12,647 | +7.2% |
| Financial income | 75/76B | €530 | €5,154 | +€4,624 | +873% |
| Recurring financial income | 75 | €530 | €5,154 | +€4,624 | +873% |
| Financial charges | 65/66B | €1,662 | €27,103 | +€25,441 | +1,531% |
| Recurring financial charges | 65 | €1,662 | €4,354 | +€2,692 | +162% |
| Non-recurring financial charges | 66B | - | €22,749 | +€22,749 | |
| Profit (loss) for the period before taxes | 9903 | €174,334 | €166,165 | -€8,170 | -4.7% |
| Income taxes | 67/77 | €45,757 | €48,507 | +€2,751 | +6.0% |
| Profit (loss) for the period | 9904 | €128,578 | €117,658 | -€10,920 | -8.5% |
| Profit (loss) for the period to be appropriated | 9905 | €128,578 | €117,658 | -€10,920 | -8.5% |
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 30 October 2026 via checked.be.