DOKTER BRIGITTE MAES: 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 BRIGITTE MAES
Largest movements
- Cash +€346,659
up €346,659 (+206%), from €168,090 to €514,748
mainly Net result for the year (+€368,969) and Other debts (+€53,628)
- Receivables within one year -€49,400
down €49,400 (-21.5%), from €229,755 to €180,355
of which Trade receivables: -€29,100
- Receivables after one year -€25,000
down €25,000 (-17.9%), from €140,000 to €115,000
- Reserves +€196,885
up €196,885 (+16.2%), from €1.2m to €1.4m
- Other debts +€53,628
up €53,628 (+48.6%), from €110,383 to €164,012
- Current portion of long-term debt -€18,160
no longer reported in 2025 (was €18,160)
- Tax, wage and social debts +€17,122
up €17,122 (+49.5%), from €34,559 to €51,682
- Depreciation -€173,994
down €173,994 (-94.3%), from €184,500 to €10,506
- Financial income -€70,186
down €70,186 (-67.7%), from €103,653 to €33,466
of which Non-recurring financial income: -€81,218
- Gross operating margin -€41,918
down €41,918 (-7.6%), from €550,315 to €508,396
- Taxes +€8,012
up €8,012 (+5.4%), from €149,071 to €157,083
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 | €1,394,545 | €1,653,633 | +€259,089 | +18.6% |
| Fixed assets | 21/28 | €24,263 | €15,996 | -€8,267 | -34.1% |
| Tangible fixed assets | 22/27 | €24,263 | €15,996 | -€8,267 | -34.1% |
| Land and buildings | 22 | €1,845 | - | -€1,845 | |
| Plant, machinery and equipment | 23 | €143 | - | -€143 | |
| Furniture and vehicles | 24 | €11,837 | €9,681 | -€2,157 | -18.2% |
| Other tangible fixed assets | 26 | €10,437 | €6,315 | -€4,122 | -39.5% |
| Current assets | 29/58 | €1,370,282 | €1,637,638 | +€267,355 | +19.5% |
| Amounts receivable after more than one year | 29 | €140,000 | €115,000 | -€25,000 | -17.9% |
| Other amounts receivable | 291 | €140,000 | €115,000 | -€25,000 | -17.9% |
| Amounts receivable within one year | 40/41 | €229,755 | €180,355 | -€49,400 | -21.5% |
| Trade receivables | 40 | €177,886 | €148,786 | -€29,100 | -16.4% |
| Other amounts receivable | 41 | €51,869 | €31,569 | -€20,300 | -39.1% |
| Current investments | 50/53 | €832,438 | €827,024 | -€5,414 | -0.7% |
| Cash at bank and in hand | 54/58 | €168,090 | €514,748 | +€346,659 | +206% |
| Deferred charges and accrued income | 490/1 | - | €511 | +€511 | |
| Total equity and liabilities | 10/49 | €1,394,545 | €1,653,633 | +€259,089 | +18.6% |
| Equity | 10/15 | €1,230,844 | €1,427,729 | +€196,885 | +16.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,218,444 | €1,415,329 | +€196,885 | +16.2% |
| Distributable reserves | 133 | €1,218,444 | €1,415,329 | +€196,885 | +16.2% |
| Amounts payable | 17/49 | €163,701 | €225,904 | +€62,203 | +38.0% |
| Amounts payable within one year | 42/48 | €163,701 | €225,904 | +€62,203 | +38.0% |
| Current portion of amounts payable after more than one year | 42 | €18,160 | - | -€18,160 | |
| Trade debts | 44 | €598 | €10,211 | +€9,613 | +1,608% |
| Suppliers | 440/4 | €598 | €10,211 | +€9,613 | +1,608% |
| Taxes, remuneration and social security | 45 | €34,559 | €51,682 | +€17,122 | +49.5% |
| Taxes | 450/3 | €34,559 | €51,682 | +€17,122 | +49.5% |
| Other amounts payable | 47/48 | €110,383 | €164,012 | +€53,628 | +48.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €184,500 | €10,506 | -€173,994 | -94.3% |
| Other operating charges | 640/8 | €4,717 | €4,867 | +€150 | +3.2% |
| Gross operating margin | 9900 | €550,315 | €508,396 | -€41,918 | -7.6% |
| Operating profit (loss) | 9901 | €361,098 | €493,024 | +€131,925 | +36.5% |
| Financial income | 75/76B | €103,653 | €33,466 | -€70,186 | -67.7% |
| Recurring financial income | 75 | €22,434 | €33,466 | +€11,032 | +49.2% |
| Non-recurring financial income | 76B | €81,218 | - | -€81,218 | |
| Financial charges | 65/66B | €1,086 | €438 | -€648 | -59.7% |
| Recurring financial charges | 65 | €1,086 | €438 | -€648 | -59.7% |
| Profit (loss) for the period before taxes | 9903 | €463,665 | €526,052 | +€62,387 | +13.5% |
| Income taxes | 67/77 | €149,071 | €157,083 | +€8,012 | +5.4% |
| Profit (loss) for the period | 9904 | €314,594 | €368,969 | +€54,375 | +17.3% |
| Profit (loss) for the period to be appropriated | 9905 | €314,594 | €368,969 | +€54,375 | +17.3% |
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 25 October 2026 via checked.be.