Docteur Samer MOUBAYED: 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 Samer MOUBAYED
Largest movements
- Receivables within one year +€57,200
up €57,200 (+101%), from €56,539 to €113,739
of which Trade receivables: +€63,869
- Cash -€40,098
down €40,098 (-33.5%), from €119,715 to €79,617
mainly Contributions, distributions and other (-€160,700) and Receivables within one year (-€57,200)
- Tangible fixed assets +€7,351
up €7,351 (+14.8%), from €49,719 to €57,070
of which Land and buildings: +€23,776
- Deferred charges and accrued income +€3,389
new in 2025: €3,389
- Provisions +€41,442
new in 2025: €41,442
- Debts after one year -€16,039
down €16,039 (-49.0%), from €32,715 to €16,676
- Other debts +€10,713
up €10,713 (+7.1%), from €150,000 to €160,713
- Profit (loss) carried forward -€8,455
down €8,455 (-96.5%), from €8,765 to €310
- Gross operating margin +€61,243
up €61,243 (+28.5%), from €215,121 to €276,364
- Provisions +€41,442
new in 2025: €41,442
- Taxes +€14,005
up €14,005 (+30.8%), from €45,459 to €59,464
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 | €225,973 | €253,815 | +€27,842 | +12.3% |
| Fixed assets | 21/28 | €49,719 | €57,070 | +€7,351 | +14.8% |
| Tangible fixed assets | 22/27 | €49,719 | €57,070 | +€7,351 | +14.8% |
| Land and buildings | 22 | €2,080 | €25,856 | +€23,776 | +1,143% |
| Furniture and vehicles | 24 | €47,638 | €31,213 | -€16,425 | -34.5% |
| Current assets | 29/58 | €176,254 | €196,746 | +€20,492 | +11.6% |
| Amounts receivable within one year | 40/41 | €56,539 | €113,739 | +€57,200 | +101% |
| Trade receivables | 40 | €47,793 | €111,662 | +€63,869 | +134% |
| Other amounts receivable | 41 | €8,746 | €2,077 | -€6,669 | -76.3% |
| Cash at bank and in hand | 54/58 | €119,715 | €79,617 | -€40,098 | -33.5% |
| Deferred charges and accrued income | 490/1 | - | €3,389 | +€3,389 | |
| Total equity and liabilities | 10/49 | €225,973 | €253,815 | +€27,842 | +12.3% |
| Equity | 10/15 | €27,365 | €18,910 | -€8,455 | -30.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,765 | €310 | -€8,455 | -96.5% |
| Provisions and deferred taxes | 16 | - | €41,442 | +€41,442 | |
| Provisions for liabilities and charges | 160/5 | - | €41,442 | +€41,442 | |
| Other liabilities and charges | 164/5 | - | €41,442 | +€41,442 | |
| Amounts payable | 17/49 | €198,608 | €193,464 | -€5,145 | -2.6% |
| Amounts payable after more than one year | 17 | €32,715 | €16,676 | -€16,039 | -49.0% |
| Financial debts | 170/4 | €32,715 | €16,676 | -€16,039 | -49.0% |
| Amounts payable within one year | 42/48 | €165,893 | €176,787 | +€10,894 | +6.6% |
| Current portion of amounts payable after more than one year | 42 | €15,426 | €16,039 | +€613 | +4.0% |
| Trade debts | 44 | €467 | €36 | -€432 | -92.4% |
| Suppliers | 440/4 | €467 | €36 | -€432 | -92.4% |
| Other amounts payable | 47/48 | €150,000 | €160,713 | +€10,713 | +7.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,904 | €18,569 | +€1,665 | +9.8% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €41,442 | +€41,442 | |
| Other operating charges | 640/8 | €899 | €928 | +€30 | +3.3% |
| Gross operating margin | 9900 | €215,121 | €276,364 | +€61,243 | +28.5% |
| Operating profit (loss) | 9901 | €197,319 | €215,426 | +€18,107 | +9.2% |
| Financial income | 75/76B | €628 | €0 | -€628 | -100.0% |
| Recurring financial income | 75 | €628 | €0 | -€628 | -100.0% |
| Financial charges | 65/66B | €2,886 | €3,717 | +€831 | +28.8% |
| Recurring financial charges | 65 | €2,886 | €3,717 | +€831 | +28.8% |
| Profit (loss) for the period before taxes | 9903 | €195,061 | €211,709 | +€16,648 | +8.5% |
| Income taxes | 67/77 | €45,459 | €59,464 | +€14,005 | +30.8% |
| Profit (loss) for the period | 9904 | €149,602 | €152,245 | +€2,643 | +1.8% |
| Profit (loss) for the period to be appropriated | 9905 | €149,602 | €152,245 | +€2,643 | +1.8% |
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 22 October 2026 via checked.be.