Dokter E. Medaer: 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 E. Medaer
Largest movements
- Tangible fixed assets +€56,675
up €56,675 (+208%), from €27,289 to €83,964
of which Other tangible fixed assets: +€60,678
- Cash -€19,751
down €19,751 (-18.8%), from €104,834 to €85,084
mainly Other debts (-€69,116) and Investment in fixed assets (net) (-€64,650)
- Receivables within one year +€7,925
up €7,925 (+111%), from €7,140 to €15,065
of which Other amounts receivable: +€9,325
- Profit (loss) carried forward +€97,420
up €97,420 (+162%), from €60,060 to €157,480
- Other debts -€69,116
down €69,116 (-98.7%), from €70,000 to €884
- Tax, wage and social debts +€15,945
up €15,945 (+4,166%), from €383 to €16,327
- Gross operating margin +€47,530
up €47,530 (+49.4%), from €96,278 to €143,808
- Taxes +€16,142
up €16,142 (+80.0%), from €20,186 to €36,327
- Depreciation +€4,653
up €4,653 (+140%), from €3,322 to €7,975
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 | €140,836 | €185,602 | +€44,766 | +31.8% |
| Fixed assets | 21/28 | €27,289 | €83,964 | +€56,675 | +208% |
| Tangible fixed assets | 22/27 | €27,289 | €83,964 | +€56,675 | +208% |
| Land and buildings | 22 | €11,886 | €10,416 | -€1,470 | -12.4% |
| Plant, machinery and equipment | 23 | €6,571 | €5,403 | -€1,168 | -17.8% |
| Furniture and vehicles | 24 | €8,832 | €7,468 | -€1,365 | -15.5% |
| Other tangible fixed assets | 26 | - | €60,678 | +€60,678 | |
| Current assets | 29/58 | €113,547 | €101,638 | -€11,909 | -10.5% |
| Amounts receivable within one year | 40/41 | €7,140 | €15,065 | +€7,925 | +111% |
| Trade receivables | 40 | €1,400 | €0 | -€1,400 | -100% |
| Other amounts receivable | 41 | €5,740 | €15,065 | +€9,325 | +162% |
| Cash at bank and in hand | 54/58 | €104,834 | €85,084 | -€19,751 | -18.8% |
| Deferred charges and accrued income | 490/1 | €1,573 | €1,489 | -€83 | -5.3% |
| Total equity and liabilities | 10/49 | €140,836 | €185,602 | +€44,766 | +31.8% |
| Equity | 10/15 | €69,901 | €167,321 | +€97,420 | +139% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €4,841 | €4,841 | = | 0.0% |
| Distributable reserves | 133 | €4,841 | €4,841 | = | 0.0% |
| Profit (loss) carried forward | 14 | €60,060 | €157,480 | +€97,420 | +162% |
| Amounts payable | 17/49 | €70,934 | €18,281 | -€52,654 | -74.2% |
| Amounts payable within one year | 42/48 | €70,934 | €18,281 | -€52,654 | -74.2% |
| Trade debts | 44 | €552 | €1,069 | +€517 | +93.8% |
| Suppliers | 440/4 | €552 | €1,069 | +€517 | +93.8% |
| Taxes, remuneration and social security | 45 | €383 | €16,327 | +€15,945 | +4,166% |
| Taxes | 450/3 | €383 | €16,327 | +€15,945 | +4,166% |
| Other amounts payable | 47/48 | €70,000 | €884 | -€69,116 | -98.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,322 | €7,975 | +€4,653 | +140% |
| Other operating charges | 640/8 | €311 | €0 | -€311 | -100% |
| Gross operating margin | 9900 | €96,278 | €143,808 | +€47,530 | +49.4% |
| Operating profit (loss) | 9901 | €92,645 | €135,833 | +€43,188 | +46.6% |
| Financial income | 75/76B | €15 | €0 | -€15 | -100% |
| Recurring financial income | 75 | €15 | €0 | -€15 | -100% |
| Financial charges | 65/66B | €787 | €2,086 | +€1,299 | +165% |
| Recurring financial charges | 65 | €787 | €2,086 | +€1,299 | +165% |
| Profit (loss) for the period before taxes | 9903 | €91,873 | €133,747 | +€41,875 | +45.6% |
| Income taxes | 67/77 | €20,186 | €36,327 | +€16,142 | +80.0% |
| Profit (loss) for the period | 9904 | €71,687 | €97,420 | +€25,733 | +35.9% |
| Profit (loss) for the period to be appropriated | 9905 | €71,687 | €97,420 | +€25,733 | +35.9% |
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 14 October 2026 via checked.be.