DOKTER BORGHGRAEF DIRK: 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 BORGHGRAEF DIRK
Largest movements
- Current investments +€263,917
new in 2025: €263,917
- Cash -€165,957
down €165,957 (-34.8%), from €476,921 to €310,964
mainly Current investments (-€263,917) and Other debts (-€28,147)
- Tangible fixed assets -€37,338
down €37,338 (-11.6%), from €320,760 to €283,422
of which Furniture and vehicles: -€28,064
- Reserves +€99,093
up €99,093 (+18.2%), from €543,158 to €642,251
- Other debts -€28,147
down €28,147 (-32.7%), from €86,182 to €58,035
- Tax, wage and social debts -€11,063
down €11,063 (-24.3%), from €45,587 to €34,525
of which Taxes: -€13,340
- Gross operating margin +€25,291
up €25,291 (+11.4%), from €222,109 to €247,399
- Depreciation +€17,507
up €17,507 (+66.3%), from €26,387 to €43,894
- Financial charges +€13,138
up €13,138 (+751%), from €1,751 to €14,889
- Financial income -€7,817
down €7,817 (-46.4%), from €16,844 to €9,027
of which Non-recurring financial income: -€15,609
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 | €814,903 | €873,848 | +€58,945 | +7.2% |
| Fixed assets | 21/28 | €320,760 | €283,422 | -€37,338 | -11.6% |
| Tangible fixed assets | 22/27 | €320,760 | €283,422 | -€37,338 | -11.6% |
| Land and buildings | 22 | €183,824 | €174,489 | -€9,335 | -5.1% |
| Plant, machinery and equipment | 23 | €7,197 | €7,258 | +€61 | +0.8% |
| Furniture and vehicles | 24 | €129,738 | €101,674 | -€28,064 | -21.6% |
| Current assets | 29/58 | €494,144 | €590,426 | +€96,283 | +19.5% |
| Amounts receivable within one year | 40/41 | €1,851 | €1,697 | -€154 | -8.3% |
| Trade receivables | 40 | €50 | €0 | -€50 | -100% |
| Other amounts receivable | 41 | €1,801 | €1,697 | -€104 | -5.8% |
| Current investments | 50/53 | - | €263,917 | +€263,917 | |
| Cash at bank and in hand | 54/58 | €476,921 | €310,964 | -€165,957 | -34.8% |
| Deferred charges and accrued income | 490/1 | €15,372 | €13,849 | -€1,523 | -9.9% |
| Total equity and liabilities | 10/49 | €814,903 | €873,848 | +€58,945 | +7.2% |
| Equity | 10/15 | €660,816 | €759,909 | +€99,093 | +15.0% |
| Contributions | 10/11 | €117,658 | €117,658 | = | 0.0% |
| Reserves | 13 | €543,158 | €642,251 | +€99,093 | +18.2% |
| Distributable reserves | 133 | €543,158 | €642,251 | +€99,093 | +18.2% |
| Amounts payable | 17/49 | €154,087 | €113,939 | -€40,148 | -26.1% |
| Amounts payable after more than one year | 17 | €8,444 | €0 | -€8,444 | -100% |
| Financial debts | 170/4 | €8,444 | €0 | -€8,444 | -100% |
| Amounts payable within one year | 42/48 | €142,434 | €106,072 | -€36,362 | -25.5% |
| Current portion of amounts payable after more than one year | 42 | €8,918 | €8,444 | -€474 | -5.3% |
| Trade debts | 44 | €1,747 | €5,069 | +€3,322 | +190% |
| Suppliers | 440/4 | €1,747 | €5,069 | +€3,322 | +190% |
| Taxes, remuneration and social security | 45 | €45,587 | €34,525 | -€11,063 | -24.3% |
| Taxes | 450/3 | €38,067 | €24,727 | -€13,340 | -35.0% |
| Remuneration and social security | 454/9 | €7,520 | €9,797 | +€2,277 | +30.3% |
| Other amounts payable | 47/48 | €86,182 | €58,035 | -€28,147 | -32.7% |
| Accrued charges and deferred income | 492/3 | €3,209 | €7,867 | +€4,658 | +145% |
| Remuneration, social security and pensions | 62 | €43,187 | €44,928 | +€1,741 | +4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,387 | €43,894 | +€17,507 | +66.3% |
| Other operating charges | 640/8 | €805 | €704 | -€101 | -12.6% |
| Gross operating margin | 9900 | €222,109 | €247,399 | +€25,291 | +11.4% |
| Operating profit (loss) | 9901 | €151,729 | €157,873 | +€6,144 | +4.0% |
| Financial income | 75/76B | €16,844 | €9,027 | -€7,817 | -46.4% |
| Recurring financial income | 75 | €1,235 | €9,027 | +€7,792 | +631% |
| Non-recurring financial income | 76B | €15,609 | €0 | -€15,609 | -100% |
| Financial charges | 65/66B | €1,751 | €14,889 | +€13,138 | +751% |
| Recurring financial charges | 65 | €1,751 | €14,889 | +€13,138 | +751% |
| Profit (loss) for the period before taxes | 9903 | €166,823 | €152,012 | -€14,811 | -8.9% |
| Income taxes | 67/77 | €51,453 | €52,919 | +€1,466 | +2.8% |
| Profit (loss) for the period | 9904 | €115,370 | €99,093 | -€16,277 | -14.1% |
| Profit (loss) for the period to be appropriated | 9905 | €115,370 | €99,093 | -€16,277 | -14.1% |
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 26 October 2026 via checked.be.