DOKTER EMMA FEYS: 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 EMMA FEYS
Largest movements
- Receivables within one year -€34,677
down €34,677 (-15.6%), from €221,827 to €187,150
- Tangible fixed assets -€25,525
down €25,525 (-38.3%), from €66,718 to €41,192
of which Land and buildings: -€32,813
- Cash +€7,256
up €7,256 (+129%), from €5,604 to €12,860
mainly Net result for the year (+€50,989) and Receivables within one year (+€34,677)
- Deferred charges and accrued income -€6,711
down €6,711 (-8.5%), from €79,170 to €72,458
- Debts after one year -€39,225
down €39,225 (-60.5%), from €64,860 to €25,634
- Other debts -€28,849
down €28,849 (-27.1%), from €106,410 to €77,561
- Reserves +€8,989
up €8,989 (+5.7%), from €157,037 to €166,027
- Short-term financial debts +€6,750
new in 2025: €6,750
- Current portion of long-term debt -€6,323
down €6,323 (-45.5%), from €13,902 to €7,579
- Gross operating margin -€58,405
down €58,405 (-43.7%), from €133,764 to €75,359
- Taxes -€15,005
down €15,005 (-51.3%), from €29,244 to €14,238
- Depreciation -€4,677
down €4,677 (-32.0%), from €14,632 to €9,956
- Financial income -€2,903
down €2,903 (-26.4%), from €10,989 to €8,086
- Financial charges +€1,695
up €1,695 (+64.2%), from €2,640 to €4,335
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 | €373,318 | €313,661 | -€59,657 | -16.0% |
| Fixed assets | 21/28 | €66,718 | €41,192 | -€25,525 | -38.3% |
| Tangible fixed assets | 22/27 | €66,718 | €41,192 | -€25,525 | -38.3% |
| Land and buildings | 22 | €32,813 | €0 | -€32,813 | -100% |
| Plant, machinery and equipment | 23 | €6,544 | €4,281 | -€2,263 | -34.6% |
| Furniture and vehicles | 24 | €27,361 | €36,911 | +€9,550 | +34.9% |
| Current assets | 29/58 | €306,601 | €272,469 | -€34,132 | -11.1% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €221,827 | €187,150 | -€34,677 | -15.6% |
| Other amounts receivable | 41 | €221,827 | €187,150 | -€34,677 | -15.6% |
| Cash at bank and in hand | 54/58 | €5,604 | €12,860 | +€7,256 | +129% |
| Deferred charges and accrued income | 490/1 | €79,170 | €72,458 | -€6,711 | -8.5% |
| Total equity and liabilities | 10/49 | €373,318 | €313,661 | -€59,657 | -16.0% |
| Equity | 10/15 | €175,637 | €184,627 | +€8,989 | +5.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €157,037 | €166,027 | +€8,989 | +5.7% |
| Distributable reserves | 133 | €157,037 | €166,027 | +€8,989 | +5.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €197,681 | €129,034 | -€68,646 | -34.7% |
| Amounts payable after more than one year | 17 | €64,860 | €25,634 | -€39,225 | -60.5% |
| Financial debts | 170/4 | €64,860 | €25,634 | -€39,225 | -60.5% |
| Amounts payable within one year | 42/48 | €132,776 | €101,875 | -€30,901 | -23.3% |
| Current portion of amounts payable after more than one year | 42 | €13,902 | €7,579 | -€6,323 | -45.5% |
| Financial debts | 43 | - | €6,750 | +€6,750 | |
| Credit institutions | 430/8 | - | €6,750 | +€6,750 | |
| Trade debts | 44 | €8,221 | €5,742 | -€2,479 | -30.2% |
| Suppliers | 440/4 | €8,221 | €5,742 | -€2,479 | -30.2% |
| Taxes, remuneration and social security | 45 | €4,244 | €4,244 | = | 0.0% |
| Taxes | 450/3 | €4,244 | €4,244 | = | 0.0% |
| Other amounts payable | 47/48 | €106,410 | €77,561 | -€28,849 | -27.1% |
| Accrued charges and deferred income | 492/3 | €45 | €1,525 | +€1,480 | +3,272% |
| Non-recurring operating income | 76A | €0 | €2,187 | +€2,187 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,632 | €9,956 | -€4,677 | -32.0% |
| Other operating charges | 640/8 | €598 | €583 | -€16 | -2.6% |
| Non-recurring operating charges | 66A | €0 | €3,344 | +€3,344 | |
| Gross operating margin | 9900 | €133,764 | €75,359 | -€58,405 | -43.7% |
| Operating profit (loss) | 9901 | €118,533 | €61,477 | -€57,057 | -48.1% |
| Financial income | 75/76B | €10,989 | €8,086 | -€2,903 | -26.4% |
| Recurring financial income | 75 | €10,989 | €8,086 | -€2,903 | -26.4% |
| Financial charges | 65/66B | €2,640 | €4,335 | +€1,695 | +64.2% |
| Recurring financial charges | 65 | €2,640 | €4,335 | +€1,695 | +64.2% |
| Profit (loss) for the period before taxes | 9903 | €126,882 | €65,228 | -€61,654 | -48.6% |
| Income taxes | 67/77 | €29,244 | €14,238 | -€15,005 | -51.3% |
| Profit (loss) for the period | 9904 | €97,638 | €50,989 | -€46,649 | -47.8% |
| Profit (loss) for the period to be appropriated | 9905 | €97,638 | €50,989 | -€46,649 | -47.8% |
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 1 November 2026 via checked.be.