DOCTEUR YVES MARECHAL: 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 YVES MARECHAL
Largest movements
- Cash -€27,164
down €27,164 (-43.2%), from €62,817 to €35,652
mainly Other debts (-€48,509) and Contributions, distributions and other (-€43,410)
- Tangible fixed assets -€19,943
down €19,943 (-54.8%), from €36,398 to €16,455
of which Furniture and vehicles: -€19,792
- Receivables within one year +€9,762
new in 2025: €9,762
of which Other amounts receivable: +€9,243
- Other debts -€48,509
down €48,509 (-52.8%), from €91,919 to €43,410
- Reserves +€31,523
up €31,523 (+8.6%), from €366,707 to €398,231
- Debts after one year -€12,585
no longer reported in 2025 (was €12,585)
- Financial charges +€27,897
up €27,897 (+50.3%), from €55,451 to €83,348
- Gross operating margin +€10,114
up €10,114 (+5.3%), from €191,807 to €201,921
- Provisions -€9,836
down €9,836 (-97.9%), from €10,045 to €209
- Financial income +€3,802
up €3,802 (+123%), from €3,085 to €6,886
- Taxes -€3,723
down €3,723 (-11.2%), from €33,258 to €29,535
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 | €571,630 | €539,850 | -€31,780 | -5.6% |
| Fixed assets | 21/28 | €36,398 | €16,455 | -€19,943 | -54.8% |
| Tangible fixed assets | 22/27 | €36,398 | €16,455 | -€19,943 | -54.8% |
| Plant, machinery and equipment | 23 | €266 | €116 | -€151 | -56.6% |
| Furniture and vehicles | 24 | €36,132 | €16,340 | -€19,792 | -54.8% |
| Current assets | 29/58 | €535,232 | €523,395 | -€11,837 | -2.2% |
| Amounts receivable within one year | 40/41 | - | €9,762 | +€9,762 | |
| Trade receivables | 40 | - | €519 | +€519 | |
| Other amounts receivable | 41 | - | €9,243 | +€9,243 | |
| Current investments | 50/53 | €470,157 | €473,842 | +€3,685 | +0.8% |
| Cash at bank and in hand | 54/58 | €62,817 | €35,652 | -€27,164 | -43.2% |
| Deferred charges and accrued income | 490/1 | €2,259 | €4,139 | +€1,880 | +83.2% |
| Total equity and liabilities | 10/49 | €571,630 | €539,850 | -€31,780 | -5.6% |
| Equity | 10/15 | €368,567 | €400,091 | +€31,523 | +8.6% |
| Contributions | 10/11 | €1,860 | €1,860 | = | 0.0% |
| Reserves | 13 | €366,707 | €398,231 | +€31,523 | +8.6% |
| Distributable reserves | 133 | €366,707 | €398,231 | +€31,523 | +8.6% |
| Provisions and deferred taxes | 16 | €72,359 | €72,569 | +€209 | +0.3% |
| Provisions for liabilities and charges | 160/5 | €72,359 | €72,569 | +€209 | +0.3% |
| Environmental obligations | 163 | €72,359 | €72,569 | +€209 | +0.3% |
| Amounts payable | 17/49 | €130,704 | €67,191 | -€63,512 | -48.6% |
| Amounts payable after more than one year | 17 | €12,585 | - | -€12,585 | |
| Financial debts | 170/4 | €12,585 | - | -€12,585 | |
| Amounts payable within one year | 42/48 | €117,367 | €65,800 | -€51,567 | -43.9% |
| Current portion of amounts payable after more than one year | 42 | €13,609 | €12,585 | -€1,024 | -7.5% |
| Financial debts | 43 | - | €1,142 | +€1,142 | |
| Credit institutions | 430/8 | - | €1,142 | +€1,142 | |
| Trade debts | 44 | €576 | €263 | -€313 | -54.4% |
| Suppliers | 440/4 | €576 | €263 | -€313 | -54.4% |
| Taxes, remuneration and social security | 45 | €11,262 | €8,400 | -€2,862 | -25.4% |
| Taxes | 450/3 | €11,262 | €8,400 | -€2,862 | -25.4% |
| Other amounts payable | 47/48 | €91,919 | €43,410 | -€48,509 | -52.8% |
| Accrued charges and deferred income | 492/3 | €752 | €1,391 | +€639 | +85.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,901 | €19,943 | -€958 | -4.6% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €10,045 | €209 | -€9,836 | -97.9% |
| Other operating charges | 640/8 | €770 | €839 | +€68 | +8.8% |
| Gross operating margin | 9900 | €191,807 | €201,921 | +€10,114 | +5.3% |
| Operating profit (loss) | 9901 | €160,090 | €180,930 | +€20,840 | +13.0% |
| Financial income | 75/76B | €3,085 | €6,886 | +€3,802 | +123% |
| Recurring financial income | 75 | €3,085 | €6,886 | +€3,802 | +123% |
| Financial charges | 65/66B | €55,451 | €83,348 | +€27,897 | +50.3% |
| Recurring financial charges | 65 | €55,451 | €83,348 | +€27,897 | +50.3% |
| Profit (loss) for the period before taxes | 9903 | €107,723 | €104,468 | -€3,255 | -3.0% |
| Income taxes | 67/77 | €33,258 | €29,535 | -€3,723 | -11.2% |
| Profit (loss) for the period | 9904 | €74,465 | €74,933 | +€468 | +0.6% |
| Profit (loss) for the period to be appropriated | 9905 | €74,465 | €74,933 | +€468 | +0.6% |
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 24 October 2026 via checked.be.