DOCTEUR VAN MULLEM: what changed
You see two financial years side by side: what moved most in the balance sheet and the result, why the result rose or fell and where the money went.
DOCTEUR VAN MULLEM
Largest movements
- Financial fixed assets -€100,000
down €100,000 (-99.6%), from €100,400 to €400
- Cash -€52,569
down €52,569 (-32.1%), from €163,744 to €111,175
mainly Contributions, distributions and other (-€150,546) and Net result for the year (-€51,267)
- Current investments -€25,000
no longer reported in 2025 (was €25,000)
- Deferred charges and accrued income +€21,469
up €21,469 (+28.9%), from €74,340 to €95,809
- Receivables within one year +€21,303
up €21,303 (+56.1%), from €37,979 to €59,282
of which Other amounts receivable: +€23,293
- Reserves -€150,546
down €150,546 (-28.7%), from €525,386 to €374,839
- Profit (loss) carried forward -€51,267
new in 2025: -€51,267
- Other debts +€46,148
up €46,148 (+71.0%), from €64,972 to €111,120
- Debts after one year -€20,461
down €20,461 (-24.3%), from €84,285 to €63,824
- Trade debts +€19,083
up €19,083 (+119%), from €16,048 to €35,131
- Gross operating margin -€210,696
down €210,696 (-55.9%), from €376,860 to €166,164
- Taxes -€66,566
down €66,566 (-98.6%), from €67,490 to €924
- Financial charges +€56,763
up €56,763 (+53.2%), from €106,720 to €163,483
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 | €763,708 | €615,770 | -€147,938 | -19.4% |
| Fixed assets | 21/28 | €462,645 | €349,504 | -€113,141 | -24.5% |
| Tangible fixed assets | 22/27 | €362,245 | €349,104 | -€13,141 | -3.6% |
| Land and buildings | 22 | €129,422 | €112,225 | -€17,197 | -13.3% |
| Plant, machinery and equipment | 23 | €198,804 | €221,037 | +€22,233 | +11.2% |
| Furniture and vehicles | 24 | €34,018 | €15,842 | -€18,177 | -53.4% |
| Financial fixed assets | 28 | €100,400 | €400 | -€100,000 | -99.6% |
| Current assets | 29/58 | €301,063 | €266,266 | -€34,797 | -11.6% |
| Amounts receivable within one year | 40/41 | €37,979 | €59,282 | +€21,303 | +56.1% |
| Trade receivables | 40 | €12,000 | €10,010 | -€1,990 | -16.6% |
| Other amounts receivable | 41 | €25,979 | €49,272 | +€23,293 | +89.7% |
| Current investments | 50/53 | €25,000 | - | -€25,000 | |
| Cash at bank and in hand | 54/58 | €163,744 | €111,175 | -€52,569 | -32.1% |
| Deferred charges and accrued income | 490/1 | €74,340 | €95,809 | +€21,469 | +28.9% |
| Total equity and liabilities | 10/49 | €763,708 | €615,770 | -€147,938 | -19.4% |
| Equity | 10/15 | €537,783 | €335,970 | -€201,813 | -37.5% |
| Contributions | 10/11 | €12,397 | €12,397 | = | 0.0% |
| Reserves | 13 | €525,386 | €374,839 | -€150,546 | -28.7% |
| Distributable reserves | 133 | €525,386 | €374,839 | -€150,546 | -28.7% |
| Profit (loss) carried forward | 14 | - | -€51,267 | -€51,267 | |
| Amounts payable | 17/49 | €225,925 | €279,800 | +€53,875 | +23.8% |
| Amounts payable after more than one year | 17 | €84,285 | €63,824 | -€20,461 | -24.3% |
| Financial debts | 170/4 | €84,285 | €63,824 | -€20,461 | -24.3% |
| Amounts payable within one year | 42/48 | €141,547 | €214,592 | +€73,045 | +51.6% |
| Current portion of amounts payable after more than one year | 42 | €37,057 | €37,312 | +€256 | +0.7% |
| Trade debts | 44 | €16,048 | €35,131 | +€19,083 | +119% |
| Suppliers | 440/4 | €16,048 | €35,131 | +€19,083 | +119% |
| Taxes, remuneration and social security | 45 | €23,471 | €31,028 | +€7,558 | +32.2% |
| Taxes | 450/3 | €17,203 | €24,730 | +€7,527 | +43.8% |
| Remuneration and social security | 454/9 | €6,268 | €6,298 | +€30 | +0.5% |
| Other amounts payable | 47/48 | €64,972 | €111,120 | +€46,148 | +71.0% |
| Accrued charges and deferred income | 492/3 | €93 | €1,385 | +€1,292 | +1,389% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,000 | €51,744 | +€744 | +1.5% |
| Other operating charges | 640/8 | €8,035 | €4,419 | -€3,616 | -45.0% |
| Gross operating margin | 9900 | €376,860 | €166,164 | -€210,696 | -55.9% |
| Operating profit (loss) | 9901 | €317,826 | €110,002 | -€207,824 | -65.4% |
| Financial income | 75/76B | €4,005 | €3,139 | -€866 | -21.6% |
| Recurring financial income | 75 | €4,005 | €3,139 | -€866 | -21.6% |
| Financial charges | 65/66B | €106,720 | €163,483 | +€56,763 | +53.2% |
| Recurring financial charges | 65 | €106,720 | €163,483 | +€56,763 | +53.2% |
| Profit (loss) for the period before taxes | 9903 | €215,111 | -€50,343 | -€265,454 | |
| Income taxes | 67/77 | €67,490 | €924 | -€66,566 | -98.6% |
| Profit (loss) for the period | 9904 | €147,621 | -€51,267 | -€198,888 | |
| Profit (loss) for the period to be appropriated | 9905 | €147,621 | -€51,267 | -€198,888 |
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.