DOCTEUR MARECAUX: what changed
DOCTEUR MARECAUX
Largest movements
- Cash +€120,818
up €120,818 (+26.9%), from €449,868 to €570,687
mainly Net result for the year (+€114,540) and Depreciation (+€25,282)
- Current investments +€36,000
up €36,000 (+32.4%), from €111,000 to €147,000
- Tangible fixed assets -€19,593
down €19,593 (-3.8%), from €517,551 to €497,959
of which Land and buildings: -€21,616
- Receivables within one year -€13,624
down €13,624 (-100%), from €13,624 to €0
of which Other amounts receivable: -€13,624
- Deferred charges and accrued income -€12,544
down €12,544 (-35.1%), from €35,747 to €23,202
- Reserves +€114,540
up €114,540 (+16.9%), from €676,823 to €791,363
- Debts after one year -€27,997
down €27,997 (-8.5%), from €329,177 to €301,180
- Tax, wage and social debts +€20,319
up €20,319 (+1,696%), from €1,198 to €21,517
- Gross operating margin +€56,788
up €56,788 (+39.1%), from €145,127 to €201,915
- Taxes +€17,747
up €17,747 (+56.0%), from €31,718 to €49,465
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 | €1,127,840 | €1,238,897 | +€111,058 | +9.8% |
| Fixed assets | 21/28 | €517,601 | €498,009 | -€19,593 | -3.8% |
| Tangible fixed assets | 22/27 | €517,551 | €497,959 | -€19,593 | -3.8% |
| Land and buildings | 22 | €512,156 | €490,540 | -€21,616 | -4.2% |
| Plant, machinery and equipment | 23 | €3,665 | €2,262 | -€1,402 | -38.3% |
| Furniture and vehicles | 24 | €1,731 | €5,156 | +€3,426 | +198% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €610,239 | €740,889 | +€130,650 | +21.4% |
| Amounts receivable within one year | 40/41 | €13,624 | €0 | -€13,624 | -100% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €13,624 | €0 | -€13,624 | -100% |
| Current investments | 50/53 | €111,000 | €147,000 | +€36,000 | +32.4% |
| Cash at bank and in hand | 54/58 | €449,868 | €570,687 | +€120,818 | +26.9% |
| Deferred charges and accrued income | 490/1 | €35,747 | €23,202 | -€12,544 | -35.1% |
| Total equity and liabilities | 10/49 | €1,127,840 | €1,238,897 | +€111,058 | +9.8% |
| Equity | 10/15 | €764,094 | €878,634 | +€114,540 | +15.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €676,823 | €791,363 | +€114,540 | +16.9% |
| Distributable reserves | 133 | €676,823 | €791,363 | +€114,540 | +16.9% |
| Profit (loss) carried forward | 14 | €67,271 | €67,271 | = | 0.0% |
| Amounts payable | 17/49 | €363,746 | €360,264 | -€3,482 | -1.0% |
| Amounts payable after more than one year | 17 | €329,177 | €301,180 | -€27,997 | -8.5% |
| Financial debts | 170/4 | €329,177 | €301,180 | -€27,997 | -8.5% |
| Amounts payable within one year | 42/48 | €34,225 | €59,084 | +€24,858 | +72.6% |
| Current portion of amounts payable after more than one year | 42 | €27,302 | €28,481 | +€1,179 | +4.3% |
| Trade debts | 44 | €1,679 | €1,480 | -€200 | -11.9% |
| Suppliers | 440/4 | €1,679 | €1,480 | -€200 | -11.9% |
| Taxes, remuneration and social security | 45 | €1,198 | €21,517 | +€20,319 | +1,696% |
| Taxes | 450/3 | €1,198 | €21,517 | +€20,319 | +1,696% |
| Other amounts payable | 47/48 | €4,046 | €7,605 | +€3,560 | +88.0% |
| Accrued charges and deferred income | 492/3 | €343 | €0 | -€343 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,941 | €25,282 | +€341 | +1.4% |
| Other operating charges | 640/8 | €3,797 | €3,917 | +€121 | +3.2% |
| Gross operating margin | 9900 | €145,127 | €201,915 | +€56,788 | +39.1% |
| Operating profit (loss) | 9901 | €116,389 | €172,715 | +€56,326 | +48.4% |
| Financial income | 75/76B | €1,736 | €1,522 | -€214 | -12.3% |
| Recurring financial income | 75 | €1,736 | €1,522 | -€214 | -12.3% |
| Financial charges | 65/66B | €8,963 | €10,232 | +€1,269 | +14.2% |
| Recurring financial charges | 65 | €8,963 | €10,232 | +€1,269 | +14.2% |
| Profit (loss) for the period before taxes | 9903 | €109,163 | €164,005 | +€54,843 | +50.2% |
| Income taxes | 67/77 | €31,718 | €49,465 | +€17,747 | +56.0% |
| Profit (loss) for the period | 9904 | €77,444 | €114,540 | +€37,095 | +47.9% |
| Profit (loss) for the period to be appropriated | 9905 | €77,444 | €114,540 | +€37,095 | +47.9% |
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 5 November 2026 via checked.be.