DOCTEUR DEMEULEMEESTER: what changed
DOCTEUR DEMEULEMEESTER
Largest movements
- Current investments +€63,733
up €63,733 (+15.7%), from €407,117 to €470,850
- Cash -€45,382
down €45,382 (-20.7%), from €218,798 to €173,417
mainly Current investments (-€63,733) and Contributions, distributions and other (-€59,117)
- Tangible fixed assets -€19,374
down €19,374 (-10.5%), from €183,845 to €164,471
of which Furniture and vehicles: -€13,063
- Reserves +€53,706
up €53,706 (+7.8%), from €686,877 to €740,583
- Tax, wage and social debts -€24,541
down €24,541 (-28.6%), from €85,804 to €61,264
- Current portion of long-term debt -€13,752
no longer reported in 2025 (was €13,752)
- Provisions +€57,510
no longer reported in 2025 (was -€57,510)
- Gross operating margin -€26,059
down €26,059 (-8.5%), from €307,642 to €281,584
- Financial charges +€25,425
up €25,425 (+46.2%), from €55,022 to €80,447
- Taxes -€18,894
down €18,894 (-26.4%), from €71,583 to €52,689
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €822,415 | €826,610 | +€4,194 | +0.5% |
| Fixed assets | 21/28 | €183,845 | €164,471 | -€19,374 | -10.5% |
| Tangible fixed assets | 22/27 | €183,845 | €164,471 | -€19,374 | -10.5% |
| Land and buildings | 22 | €141,409 | €139,170 | -€2,239 | -1.6% |
| Plant, machinery and equipment | 23 | €20,122 | €16,049 | -€4,072 | -20.2% |
| Furniture and vehicles | 24 | €22,314 | €9,251 | -€13,063 | -58.5% |
| Current assets | 29/58 | €638,570 | €662,138 | +€23,568 | +3.7% |
| Amounts receivable within one year | 40/41 | €9,376 | €14,127 | +€4,752 | +50.7% |
| Other amounts receivable | 41 | €9,376 | €14,127 | +€4,752 | +50.7% |
| Current investments | 50/53 | €407,117 | €470,850 | +€63,733 | +15.7% |
| Cash at bank and in hand | 54/58 | €218,798 | €173,417 | -€45,382 | -20.7% |
| Deferred charges and accrued income | 490/1 | €3,280 | €3,745 | +€465 | +14.2% |
| Total equity and liabilities | 10/49 | €822,415 | €826,610 | +€4,194 | +0.5% |
| Equity | 10/15 | €705,877 | €759,583 | +€53,706 | +7.6% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €686,877 | €740,583 | +€53,706 | +7.8% |
| Distributable reserves | 133 | €686,877 | €740,583 | +€53,706 | +7.8% |
| Amounts payable | 17/49 | €116,538 | €67,027 | -€49,512 | -42.5% |
| Amounts payable within one year | 42/48 | €116,538 | €67,027 | -€49,512 | -42.5% |
| Current portion of amounts payable after more than one year | 42 | €13,752 | - | -€13,752 | |
| Trade debts | 44 | €13,662 | €5,763 | -€7,898 | -57.8% |
| Suppliers | 440/4 | €13,662 | €5,763 | -€7,898 | -57.8% |
| Taxes, remuneration and social security | 45 | €85,804 | €61,264 | -€24,541 | -28.6% |
| Taxes | 450/3 | €85,804 | €61,264 | -€24,541 | -28.6% |
| Other amounts payable | 47/48 | €3,321 | - | -€3,321 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,689 | €36,191 | -€499 | -1.4% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€57,510 | - | +€57,510 | |
| Other operating charges | 640/8 | €4,659 | €4,767 | +€108 | +2.3% |
| Gross operating margin | 9900 | €307,642 | €281,584 | -€26,059 | -8.5% |
| Operating profit (loss) | 9901 | €323,804 | €240,626 | -€83,178 | -25.7% |
| Financial income | 75/76B | €3,891 | €5,333 | +€1,442 | +37.1% |
| Recurring financial income | 75 | €3,891 | €5,333 | +€1,442 | +37.1% |
| Financial charges | 65/66B | €55,022 | €80,447 | +€25,425 | +46.2% |
| Recurring financial charges | 65 | €55,022 | €80,447 | +€25,425 | +46.2% |
| Profit (loss) for the period before taxes | 9903 | €272,673 | €165,512 | -€107,161 | -39.3% |
| Income taxes | 67/77 | €71,583 | €52,689 | -€18,894 | -26.4% |
| Profit (loss) for the period | 9904 | €201,090 | €112,823 | -€88,267 | -43.9% |
| Profit (loss) for the period to be appropriated | 9905 | €201,090 | €112,823 | -€88,267 | -43.9% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.