DOKTER ERIK BEULS: 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 ERIK BEULS
Largest movements
- Cash +€70,956
up €70,956 (+46.7%), from €152,013 to €222,968
mainly Depreciation (+€35,899) and Receivables within one year (+€19,399)
- Tangible fixed assets -€35,899
down €35,899 (-9.5%), from €379,172 to €343,272
of which Furniture and vehicles: -€21,311
- Receivables within one year -€19,399
down €19,399 (-51.9%), from €37,399 to €18,000
- Deferred charges and accrued income -€19,031
down €19,031 (-75.9%), from €25,084 to €6,053
- Current portion of long-term debt -€13,490
no longer reported in 2025 (was €13,490)
- Depreciation -€8,595
down €8,595 (-19.3%), from €44,494 to €35,899
- Taxes +€2,802
up €2,802 (+79.6%), from €3,521 to €6,324
- Gross operating margin +€2,389
up €2,389 (+4.8%), from €50,174 to €52,562
- Financial charges -€1,946
down €1,946 (-93.7%), from €2,077 to €132
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 | €593,667 | €590,294 | -€3,373 | -0.6% |
| Fixed assets | 21/28 | €379,172 | €343,272 | -€35,899 | -9.5% |
| Tangible fixed assets | 22/27 | €379,172 | €343,272 | -€35,899 | -9.5% |
| Land and buildings | 22 | €145,134 | €145,134 | = | 0.0% |
| Plant, machinery and equipment | 23 | €305 | - | -€305 | |
| Furniture and vehicles | 24 | €29,842 | €8,531 | -€21,311 | -71.4% |
| Other tangible fixed assets | 26 | €203,891 | €189,607 | -€14,283 | -7.0% |
| Current assets | 29/58 | €214,496 | €247,022 | +€32,526 | +15.2% |
| Amounts receivable within one year | 40/41 | €37,399 | €18,000 | -€19,399 | -51.9% |
| Other amounts receivable | 41 | €37,399 | €18,000 | -€19,399 | -51.9% |
| Cash at bank and in hand | 54/58 | €152,013 | €222,968 | +€70,956 | +46.7% |
| Deferred charges and accrued income | 490/1 | €25,084 | €6,053 | -€19,031 | -75.9% |
| Total equity and liabilities | 10/49 | €593,667 | €590,294 | -€3,373 | -0.6% |
| Equity | 10/15 | €576,914 | €584,283 | +€7,369 | +1.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €567,383 | €571,883 | +€4,500 | +0.8% |
| Distributable reserves | 133 | €567,383 | €571,883 | +€4,500 | +0.8% |
| Profit (loss) carried forward | 14 | -€2,869 | - | +€2,869 | |
| Amounts payable | 17/49 | €16,754 | €6,011 | -€10,742 | -64.1% |
| Amounts payable within one year | 42/48 | €16,754 | €6,011 | -€10,742 | -64.1% |
| Current portion of amounts payable after more than one year | 42 | €13,490 | - | -€13,490 | |
| Trade debts | 44 | - | €238 | +€238 | |
| Suppliers | 440/4 | - | €238 | +€238 | |
| Taxes, remuneration and social security | 45 | €1,021 | €2,845 | +€1,824 | +179% |
| Taxes | 450/3 | €1,021 | €2,845 | +€1,824 | +179% |
| Other amounts payable | 47/48 | €2,243 | €2,929 | +€686 | +30.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,494 | €35,899 | -€8,595 | -19.3% |
| Other operating charges | 640/8 | €2,950 | €2,838 | -€112 | -3.8% |
| Gross operating margin | 9900 | €50,174 | €52,562 | +€2,389 | +4.8% |
| Operating profit (loss) | 9901 | €2,729 | €13,825 | +€11,095 | +407% |
| Financial charges | 65/66B | €2,077 | €132 | -€1,946 | -93.7% |
| Recurring financial charges | 65 | €2,077 | €132 | -€1,946 | -93.7% |
| Profit (loss) for the period before taxes | 9903 | €652 | €13,693 | +€13,041 | +2,001% |
| Income taxes | 67/77 | €3,521 | €6,324 | +€2,802 | +79.6% |
| Profit (loss) for the period | 9904 | -€2,869 | €7,369 | +€10,239 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,869 | €7,369 | +€10,239 |
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 30 October 2026 via checked.be.