DOKTER BART STUYTS: 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.
DOKTER BART STUYTS
Largest movements
- Tangible fixed assets +€382,416
up €382,416 (+17.1%), from €2.2m to €2.6m
of which Land and buildings: +€388,911
- Cash -€329,215
down €329,215 (-52.2%), from €630,777 to €301,562
mainly Investment in fixed assets (net) (-€458,551) and Trade debts (-€275,354)
- Receivables within one year +€47,000
new in 2025: €47,000
- Trade debts -€275,354
down €275,354 (-96.8%), from €284,572 to €9,218
- Debts after one year +€260,838
up €260,838 (+34.6%), from €753,727 to €1.0m
- Reserves +€184,994
up €184,994 (+10.2%), from €1.8m to €2.0m
of which Distributable reserves: +€184,994
- Other debts -€55,615
down €55,615 (-49.3%), from €112,743 to €57,128
- Gross operating margin -€43,049
down €43,049 (-9.9%), from €433,878 to €390,829
- Taxes -€26,307
down €26,307 (-22.8%), from €115,548 to €89,241
- Depreciation +€17,433
up €17,433 (+29.7%), from €58,702 to €76,135
- Financial charges +€15,334
up €15,334 (+69.3%), from €22,118 to €37,453
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 | €3,274,277 | €3,377,614 | +€103,337 | +3.2% |
| Fixed assets | 21/28 | €2,240,982 | €2,623,398 | +€382,416 | +17.1% |
| Tangible fixed assets | 22/27 | €2,239,882 | €2,622,298 | +€382,416 | +17.1% |
| Land and buildings | 22 | €2,184,577 | €2,573,488 | +€388,911 | +17.8% |
| Plant, machinery and equipment | 23 | €854 | €224 | -€630 | -73.8% |
| Furniture and vehicles | 24 | €54,451 | €48,586 | -€5,865 | -10.8% |
| Financial fixed assets | 28 | €1,100 | €1,100 | = | 0.0% |
| Current assets | 29/58 | €1,033,296 | €754,217 | -€279,079 | -27.0% |
| Amounts receivable after more than one year | 29 | €113,540 | €113,540 | = | 0.0% |
| Trade receivables | 290 | €113,540 | €113,540 | = | 0.0% |
| Amounts receivable within one year | 40/41 | - | €47,000 | +€47,000 | |
| Trade receivables | 40 | - | €47,000 | +€47,000 | |
| Current investments | 50/53 | €171,010 | €200,396 | +€29,386 | +17.2% |
| Cash at bank and in hand | 54/58 | €630,777 | €301,562 | -€329,215 | -52.2% |
| Deferred charges and accrued income | 490/1 | €117,968 | €91,719 | -€26,249 | -22.3% |
| Total equity and liabilities | 10/49 | €3,274,277 | €3,377,614 | +€103,337 | +3.2% |
| Equity | 10/15 | €1,822,167 | €2,007,161 | +€184,994 | +10.2% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €1,809,667 | €1,994,661 | +€184,994 | +10.2% |
| Tax-exempt reserves | 132 | €8,851 | €8,851 | = | 0.0% |
| Distributable reserves | 133 | €1,800,816 | €1,985,810 | +€184,994 | +10.3% |
| Amounts payable | 17/49 | €1,452,111 | €1,370,453 | -€81,657 | -5.6% |
| Amounts payable after more than one year | 17 | €753,727 | €1,014,565 | +€260,838 | +34.6% |
| Financial debts | 170/4 | €753,727 | €1,014,565 | +€260,838 | +34.6% |
| Amounts payable within one year | 42/48 | €684,268 | €355,888 | -€328,380 | -48.0% |
| Current portion of amounts payable after more than one year | 42 | €57,989 | €85,930 | +€27,941 | +48.2% |
| Trade debts | 44 | €284,572 | €9,218 | -€275,354 | -96.8% |
| Suppliers | 440/4 | €284,572 | €9,218 | -€275,354 | -96.8% |
| Taxes, remuneration and social security | 45 | €228,964 | €203,612 | -€25,352 | -11.1% |
| Taxes | 450/3 | €228,964 | €203,612 | -€25,352 | -11.1% |
| Other amounts payable | 47/48 | €112,743 | €57,128 | -€55,615 | -49.3% |
| Accrued charges and deferred income | 492/3 | €14,116 | €0 | -€14,116 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,702 | €76,135 | +€17,433 | +29.7% |
| Other operating charges | 640/8 | €6,083 | €4,986 | -€1,097 | -18.0% |
| Gross operating margin | 9900 | €433,878 | €390,829 | -€43,049 | -9.9% |
| Operating profit (loss) | 9901 | €369,094 | €309,708 | -€59,386 | -16.1% |
| Financial income | 75/76B | €612 | €1,980 | +€1,368 | +224% |
| Recurring financial income | 75 | €612 | €1,980 | +€1,368 | +224% |
| Financial charges | 65/66B | €22,118 | €37,453 | +€15,334 | +69.3% |
| Recurring financial charges | 65 | €22,118 | €37,453 | +€15,334 | +69.3% |
| Profit (loss) for the period before taxes | 9903 | €347,587 | €274,235 | -€73,352 | -21.1% |
| Income taxes | 67/77 | €115,548 | €89,241 | -€26,307 | -22.8% |
| Profit (loss) for the period | 9904 | €232,039 | €184,994 | -€47,045 | -20.3% |
| Profit (loss) for the period to be appropriated | 9905 | €232,039 | €184,994 | -€47,045 | -20.3% |
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 30 October 2026 via checked.be.