DOKTER DIRK FAES: 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 DIRK FAES
Largest movements
- Deferred charges and accrued income -€80,719
down €80,719 (-97.7%), from €82,617 to €1,898
- Receivables after one year -€70,000
down €70,000 (-46.7%), from €150,000 to €80,000
- Cash -€43,704
down €43,704 (-30.8%), from €141,897 to €98,193
mainly Contributions, distributions and other (-€154,840) and Current investments (-€38,669)
- Current investments +€38,669
up €38,669 (+16.9%), from €228,198 to €266,867
- Tangible fixed assets -€37,011
down €37,011 (-10.2%), from €362,492 to €325,481
of which Land and buildings: -€19,035
- Reserves -€126,025
down €126,025 (-27.2%), from €462,551 to €336,526
- Debts after one year -€36,571
down €36,571 (-13.6%), from €268,565 to €231,994
- Other debts -€15,491
down €15,491 (-9.7%), from €160,295 to €144,803
- Gross operating margin -€196,829
down €196,829 (-64.0%), from €307,368 to €110,539
- Taxes -€58,556
down €58,556 (-78.7%), from €74,444 to €15,887
- Financial charges -€5,109
down €5,109 (-33.6%), from €15,186 to €10,077
- Financial income -€3,497
down €3,497 (-35.8%), from €9,777 to €6,280
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €967,535 | €790,227 | -€177,308 | -18.3% |
| Fixed assets | 21/28 | €362,837 | €325,825 | -€37,011 | -10.2% |
| Tangible fixed assets | 22/27 | €362,492 | €325,481 | -€37,011 | -10.2% |
| Land and buildings | 22 | €296,619 | €277,584 | -€19,035 | -6.4% |
| Furniture and vehicles | 24 | €65,873 | €47,897 | -€17,976 | -27.3% |
| Financial fixed assets | 28 | €344 | €344 | = | 0.0% |
| Current assets | 29/58 | €604,699 | €464,401 | -€140,297 | -23.2% |
| Amounts receivable after more than one year | 29 | €150,000 | €80,000 | -€70,000 | -46.7% |
| Other amounts receivable | 291 | €150,000 | €80,000 | -€70,000 | -46.7% |
| Amounts receivable within one year | 40/41 | €1,987 | €17,443 | +€15,456 | +778% |
| Trade receivables | 40 | €0 | €12,000 | +€12,000 | |
| Other amounts receivable | 41 | €1,987 | €5,443 | +€3,456 | +174% |
| Current investments | 50/53 | €228,198 | €266,867 | +€38,669 | +16.9% |
| Cash at bank and in hand | 54/58 | €141,897 | €98,193 | -€43,704 | -30.8% |
| Deferred charges and accrued income | 490/1 | €82,617 | €1,898 | -€80,719 | -97.7% |
| Total equity and liabilities | 10/49 | €967,535 | €790,227 | -€177,308 | -18.3% |
| Equity | 10/15 | €474,951 | €348,926 | -€126,025 | -26.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €462,551 | €336,526 | -€126,025 | -27.2% |
| Distributable reserves | 133 | €462,551 | €336,526 | -€126,025 | -27.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €492,584 | €441,300 | -€51,283 | -10.4% |
| Amounts payable after more than one year | 17 | €268,565 | €231,994 | -€36,571 | -13.6% |
| Financial debts | 170/4 | €268,565 | €231,994 | -€36,571 | -13.6% |
| Amounts payable within one year | 42/48 | €223,787 | €209,306 | -€14,481 | -6.5% |
| Current portion of amounts payable after more than one year | 42 | €36,332 | €36,571 | +€238 | +0.7% |
| Trade debts | 44 | €2,665 | €3,292 | +€627 | +23.5% |
| Suppliers | 440/4 | €2,665 | €3,292 | +€627 | +23.5% |
| Taxes, remuneration and social security | 45 | €24,495 | €24,640 | +€145 | +0.6% |
| Taxes | 450/3 | €24,495 | €24,640 | +€145 | +0.6% |
| Other amounts payable | 47/48 | €160,295 | €144,803 | -€15,491 | -9.7% |
| Accrued charges and deferred income | 492/3 | €232 | €0 | -€232 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,844 | €55,927 | +€2,083 | +3.9% |
| Other operating charges | 640/8 | €3,842 | €3,857 | +€15 | +0.4% |
| Non-recurring operating charges | 66A | €3,000 | €2,256 | -€744 | -24.8% |
| Gross operating margin | 9900 | €307,368 | €110,539 | -€196,829 | -64.0% |
| Operating profit (loss) | 9901 | €246,682 | €48,499 | -€198,183 | -80.3% |
| Financial income | 75/76B | €9,777 | €6,280 | -€3,497 | -35.8% |
| Recurring financial income | 75 | €9,777 | €6,280 | -€3,497 | -35.8% |
| Financial charges | 65/66B | €15,186 | €10,077 | -€5,109 | -33.6% |
| Recurring financial charges | 65 | €15,186 | €10,077 | -€5,109 | -33.6% |
| Profit (loss) for the period before taxes | 9903 | €241,274 | €44,702 | -€196,571 | -81.5% |
| Income taxes | 67/77 | €74,444 | €15,887 | -€58,556 | -78.7% |
| Profit (loss) for the period | 9904 | €166,830 | €28,815 | -€138,015 | -82.7% |
| Profit (loss) for the period to be appropriated | 9905 | €166,830 | €28,815 | -€138,015 | -82.7% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.