DOCTEUR FREDERIC VALLOT: 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 FREDERIC VALLOT
Largest movements
- Cash +€103,145
up €103,145 (+30.5%), from €338,569 to €441,714
mainly Net result for the year (+€144,607) and Depreciation (+€33,785)
- Tangible fixed assets -€33,785
down €33,785 (-8.4%), from €401,336 to €367,551
of which Furniture and vehicles: -€16,926
- Receivables after one year -€26,237
down €26,237 (-10.1%), from €260,058 to €233,821
- Reserves +€84,607
up €84,607 (+9.8%), from €862,367 to €946,974
- Current portion of long-term debt -€30,601
down €30,601 (-52.9%), from €57,874 to €27,273
- Debts after one year -€19,815
down €19,815 (-70.0%), from €28,306 to €8,491
- Tax, wage and social debts +€10,840
up €10,840 (+24.1%), from €44,900 to €55,740
of which Taxes: +€13,840
- Gross operating margin +€100,642
up €100,642 (+59.6%), from €168,958 to €269,601
- Taxes +€54,095
up €54,095 (+189%), from €28,626 to €82,721
- Financial charges -€2,950
down €2,950 (-47.9%), from €6,154 to €3,204
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 | €1,016,728 | €1,060,702 | +€43,975 | +4.3% |
| Fixed assets | 21/28 | €401,336 | €367,551 | -€33,785 | -8.4% |
| Tangible fixed assets | 22/27 | €401,336 | €367,551 | -€33,785 | -8.4% |
| Land and buildings | 22 | €334,350 | €319,481 | -€14,869 | -4.4% |
| Plant, machinery and equipment | 23 | €9,160 | €7,170 | -€1,990 | -21.7% |
| Furniture and vehicles | 24 | €57,827 | €40,901 | -€16,926 | -29.3% |
| Current assets | 29/58 | €615,391 | €693,151 | +€77,760 | +12.6% |
| Amounts receivable after more than one year | 29 | €260,058 | €233,821 | -€26,237 | -10.1% |
| Other amounts receivable | 291 | €260,058 | €233,821 | -€26,237 | -10.1% |
| Cash at bank and in hand | 54/58 | €338,569 | €441,714 | +€103,145 | +30.5% |
| Deferred charges and accrued income | 490/1 | €16,764 | €17,616 | +€852 | +5.1% |
| Total equity and liabilities | 10/49 | €1,016,728 | €1,060,702 | +€43,975 | +4.3% |
| Equity | 10/15 | €874,767 | €959,374 | +€84,607 | +9.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €862,367 | €946,974 | +€84,607 | +9.8% |
| Distributable reserves | 133 | €862,367 | €946,974 | +€84,607 | +9.8% |
| Amounts payable | 17/49 | €141,961 | €101,329 | -€40,632 | -28.6% |
| Amounts payable after more than one year | 17 | €28,306 | €8,491 | -€19,815 | -70.0% |
| Financial debts | 170/4 | €28,306 | €8,491 | -€19,815 | -70.0% |
| Amounts payable within one year | 42/48 | €111,940 | €91,122 | -€20,817 | -18.6% |
| Current portion of amounts payable after more than one year | 42 | €57,874 | €27,273 | -€30,601 | -52.9% |
| Trade debts | 44 | €9,165 | €8,109 | -€1,056 | -11.5% |
| Suppliers | 440/4 | €9,165 | €8,109 | -€1,056 | -11.5% |
| Taxes, remuneration and social security | 45 | €44,900 | €55,740 | +€10,840 | +24.1% |
| Taxes | 450/3 | €41,900 | €55,740 | +€13,840 | +33.0% |
| Remuneration and social security | 454/9 | €3,000 | - | -€3,000 | |
| Accrued charges and deferred income | 492/3 | €1,715 | €1,715 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,202 | €33,785 | -€1,417 | -4.0% |
| Other operating charges | 640/8 | €4,917 | €5,284 | +€366 | +7.5% |
| Gross operating margin | 9900 | €168,958 | €269,601 | +€100,642 | +59.6% |
| Operating profit (loss) | 9901 | €128,839 | €230,532 | +€101,693 | +78.9% |
| Financial income | 75/76B | €0 | €0 | -€0 | -11.1% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -11.1% |
| Financial charges | 65/66B | €6,154 | €3,204 | -€2,950 | -47.9% |
| Recurring financial charges | 65 | €6,154 | €3,204 | -€2,950 | -47.9% |
| Profit (loss) for the period before taxes | 9903 | €122,685 | €227,328 | +€104,643 | +85.3% |
| Income taxes | 67/77 | €28,626 | €82,721 | +€54,095 | +189% |
| Profit (loss) for the period | 9904 | €94,059 | €144,607 | +€50,548 | +53.7% |
| Profit (loss) for the period to be appropriated | 9905 | €94,059 | €144,607 | +€50,548 | +53.7% |
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 1 November 2026 via checked.be.