Docteur Philippe ETUIN: what changed
What changed
Docteur Philippe ETUIN
filed annual accounts (NBB)
Net result for the year
€65,309
2024 · €83,113-€17,805
Equity
€591,913
2024 · €526,604+€65,309
Cash
€8,346
2024 · €11,131-€2,784
Balance sheet total
€633,592
2024 · €565,115+€68,477
Largest movements
Assets
- Tangible fixed assets +€45,779
up €45,779 (+35.3%), from €129,692 to €175,472
of which Furniture and vehicles: +€52,591
- Current investments +€23,480
up €23,480 (+73.0%), from €32,178 to €55,657
Equity and liabilities
- Reserves +€65,000
up €65,000 (+18.2%), from €356,525 to €421,525
of which Distributable reserves: +€65,000
- Debts after one year +€25,324
new in 2025: €25,324
- Tax, wage and social debts -€19,271
down €19,271 (-80.4%), from €23,958 to €4,687
Income statement
- Gross operating margin -€16,294
down €16,294 (-12.7%), from €128,657 to €112,363
- Depreciation +€8,178
up €8,178 (+126%), from €6,482 to €14,661
- Taxes -€5,817
down €5,817 (-17.3%), from €33,537 to €27,720
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.
Result 2024
€83,113
Gross operating margin
-€16,294
Depreciation
-€8,178
Other operating charges
+€214
Financial income
+€560
Financial charges
+€77
Taxes
+€5,817
Result 2025
€65,309
raises the resultlowers the result
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.
From operations
+€60,151
Investment
-€83,920
Financing
+€20,984
Cash 2024
€11,131
From operations (derived)
+€60,151
Net result for the year
+€65,309
Depreciation
+€14,661
Receivables within one year
-€1,486
Deferred charges and accrued income
-€516
Trade debts
+€1,346
Tax, wage and social debts
-€19,271
Accrued charges and deferred income
+€109
Investment (derived)
-€83,920
Investment in fixed assets (net)
-€60,440
Current investments
-€23,480
Financing
+€20,984
Debts after one year
+€25,324
Current portion of long-term debt
-€4,339
Cash 2025
€8,346
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €565,115 | €633,592 | +€68,477 | +12.1% |
| Fixed assets | 21/28 | €129,692 | €175,472 | +€45,779 | +35.3% |
| Tangible fixed assets | 22/27 | €129,692 | €175,472 | +€45,779 | +35.3% |
| Land and buildings | 22 | €13,436 | €13,323 | -€113 | -0.8% |
| Furniture and vehicles | 24 | - | €52,591 | +€52,591 | |
| Other tangible fixed assets | 26 | €116,256 | €109,557 | -€6,699 | -5.8% |
| Current assets | 29/58 | €435,423 | €458,121 | +€22,697 | +5.2% |
| Amounts receivable within one year | 40/41 | €389,526 | €391,012 | +€1,486 | +0.4% |
| Other amounts receivable | 41 | €389,526 | €391,012 | +€1,486 | +0.4% |
| Current investments | 50/53 | €32,178 | €55,657 | +€23,480 | +73.0% |
| Cash at bank and in hand | 54/58 | €11,131 | €8,346 | -€2,784 | -25.0% |
| Deferred charges and accrued income | 490/1 | €2,589 | €3,105 | +€516 | +19.9% |
| Total equity and liabilities | 10/49 | €565,115 | €633,592 | +€68,477 | +12.1% |
| Equity | 10/15 | €526,604 | €591,913 | +€65,309 | +12.4% |
| Contributions | 10/11 | €12,450 | €12,450 | = | 0.0% |
| Reserves | 13 | €356,525 | €421,525 | +€65,000 | +18.2% |
| Non-distributable reserves | 130/1 | €1,875 | €1,875 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,875 | €1,875 | = | 0.0% |
| Distributable reserves | 133 | €354,650 | €419,650 | +€65,000 | +18.3% |
| Profit (loss) carried forward | 14 | €157,629 | €157,938 | +€309 | +0.2% |
| Amounts payable | 17/49 | €38,511 | €41,680 | +€3,168 | +8.2% |
| Amounts payable after more than one year | 17 | - | €25,324 | +€25,324 | |
| Financial debts | 170/4 | - | €25,324 | +€25,324 | |
| Amounts payable within one year | 42/48 | €38,511 | €16,247 | -€22,265 | -57.8% |
| Current portion of amounts payable after more than one year | 42 | €14,015 | €9,676 | -€4,339 | -31.0% |
| Trade debts | 44 | €538 | €1,884 | +€1,346 | +250% |
| Suppliers | 440/4 | €538 | €1,884 | +€1,346 | +250% |
| Taxes, remuneration and social security | 45 | €23,958 | €4,687 | -€19,271 | -80.4% |
| Taxes | 450/3 | €23,958 | €4,687 | -€19,271 | -80.4% |
| Accrued charges and deferred income | 492/3 | - | €109 | +€109 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,482 | €14,661 | +€8,178 | +126% |
| Other operating charges | 640/8 | €3,462 | €3,248 | -€214 | -6.2% |
| Gross operating margin | 9900 | €128,657 | €112,363 | -€16,294 | -12.7% |
| Operating profit (loss) | 9901 | €118,713 | €94,455 | -€24,258 | -20.4% |
| Financial income | 75/76B | €125 | €685 | +€560 | +448% |
| Recurring financial income | 75 | €125 | €685 | +€560 | +448% |
| Financial charges | 65/66B | €2,188 | €2,111 | -€77 | -3.5% |
| Recurring financial charges | 65 | €2,188 | €2,111 | -€77 | -3.5% |
| Profit (loss) for the period before taxes | 9903 | €116,650 | €93,029 | -€23,622 | -20.2% |
| Income taxes | 67/77 | €33,537 | €27,720 | -€5,817 | -17.3% |
| Profit (loss) for the period | 9904 | €83,113 | €65,309 | -€17,805 | -21.4% |
| Profit (loss) for the period to be appropriated | 9905 | €83,113 | €65,309 | -€17,805 | -21.4% |
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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 6 November 2026 via checked.be.