DOKTER GUY PEETERS: what changed
Two fiscal 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 GUY PEETERS
Largest movements
- Receivables after one year +€405,000
up €405,000 (+77.1%), from €525,000 to €930,000
- Cash -€121,317
down €121,317 (-26.0%), from €466,124 to €344,808
mainly Receivables after one year (-€405,000) and Other debts (-€66,775)
- Tangible fixed assets -€86,767
down €86,767 (-17.1%), from €507,625 to €420,859
- Current investments -€48,264
down €48,264 (-14.6%), from €329,680 to €281,416
- Reserves +€306,982
up €306,982 (+20.1%), from €1.5m to €1.8m
of which Distributable reserves: +€306,982
- Other debts -€66,775
down €66,775 (-56.2%), from €118,767 to €51,992
- Debts after one year -€40,924
down €40,924 (-25.6%), from €159,738 to €118,814
of which Financial debts: -€41,524
- Financial income +€28,248
up €28,248 (+105.2%), from €26,851 to €55,100
- Gross operating margin +€26,567
up €26,567 (+4.7%), from €571,053 to €597,619
- Taxes +€13,784
up €13,784 (+10.9%), from €126,842 to €140,627
- Staff costs +€9,619
up €9,619 (+9.4%), from €102,815 to €112,434
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.
Cash bridge derived
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 | €1,911,661 | €2,084,578 | +€172,918 | +9.0% |
| Fixed assets | 21/28 | €507,625 | €420,859 | -€86,767 | -17.1% |
| Tangible fixed assets | 22/27 | €507,625 | €420,859 | -€86,767 | -17.1% |
| Land and buildings | 22 | €433,497 | €395,045 | -€38,453 | -8.9% |
| Plant, machinery and equipment | 23 | €24,244 | €10,615 | -€13,629 | -56.2% |
| Furniture and vehicles | 24 | €39,921 | €7,305 | -€32,616 | -81.7% |
| Other tangible fixed assets | 26 | €9,963 | €7,895 | -€2,069 | -20.8% |
| Current assets | 29/58 | €1,404,035 | €1,663,720 | +€259,684 | +18.5% |
| Amounts receivable after more than one year | 29 | €525,000 | €930,000 | +€405,000 | +77.1% |
| Other amounts receivable | 291 | €525,000 | €930,000 | +€405,000 | +77.1% |
| Amounts receivable within one year | 40/41 | €49,970 | €64,341 | +€14,371 | +28.8% |
| Other amounts receivable | 41 | €49,970 | €64,341 | +€14,371 | +28.8% |
| Current investments | 50/53 | €329,680 | €281,416 | -€48,264 | -14.6% |
| Cash at bank and in hand | 54/58 | €466,124 | €344,808 | -€121,317 | -26.0% |
| Deferred charges and accrued income | 490/1 | €33,261 | €43,155 | +€9,894 | +29.7% |
| Total equity and liabilities | 10/49 | €1,911,661 | €2,084,578 | +€172,918 | +9.0% |
| Equity | 10/15 | €1,536,425 | €1,843,407 | +€306,982 | +20.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,530,225 | €1,837,207 | +€306,982 | +20.1% |
| Tax-exempt reserves | 132 | €26,000 | €26,000 | = | 0.0% |
| Distributable reserves | 133 | €1,504,225 | €1,811,207 | +€306,982 | +20.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €375,235 | €241,172 | -€134,064 | -35.7% |
| Amounts payable after more than one year | 17 | €159,738 | €118,814 | -€40,924 | -25.6% |
| Financial debts | 170/4 | €159,738 | €118,214 | -€41,524 | -26.0% |
| Other amounts payable | 178/9 | - | €600 | +€600 | |
| Amounts payable within one year | 42/48 | €215,498 | €122,358 | -€93,140 | -43.2% |
| Current portion of amounts payable after more than one year | 42 | €40,649 | €41,524 | +€874 | +2.2% |
| Trade debts | 44 | €8,970 | €47 | -€8,923 | -99.5% |
| Suppliers | 440/4 | €8,970 | €47 | -€8,923 | -99.5% |
| Taxes, remuneration and social security | 45 | €47,112 | €28,795 | -€18,317 | -38.9% |
| Taxes | 450/3 | €28,759 | €14,198 | -€14,561 | -50.6% |
| Remuneration and social security | 454/9 | €18,352 | €14,597 | -€3,755 | -20.5% |
| Other amounts payable | 47/48 | €118,767 | €51,992 | -€66,775 | -56.2% |
| Non-recurring operating income | 76A | €0 | €3,880 | +€3,880 | |
| Remuneration, social security and pensions | 62 | €102,815 | €112,434 | +€9,619 | +9.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €82,677 | €82,025 | -€652 | -0.8% |
| Other operating charges | 640/8 | €4,474 | €3,848 | -€626 | -14.0% |
| Gross operating margin | 9900 | €571,053 | €597,619 | +€26,567 | +4.7% |
| Operating profit (loss) | 9901 | €381,087 | €399,312 | +€18,226 | +4.8% |
| Financial income | 75/76B | €26,851 | €55,100 | +€28,248 | +105.2% |
| Recurring financial income | 75 | €26,851 | €55,100 | +€28,248 | +105.2% |
| Financial charges | 65/66B | €8,545 | €6,804 | -€1,742 | -20.4% |
| Recurring financial charges | 65 | €8,545 | €6,804 | -€1,742 | -20.4% |
| Profit (loss) for the period before taxes | 9903 | €399,393 | €447,608 | +€48,216 | +12.1% |
| Income taxes | 67/77 | €126,842 | €140,627 | +€13,784 | +10.9% |
| Profit (loss) for the period | 9904 | €272,550 | €306,982 | +€34,431 | +12.6% |
| Profit (loss) for the period to be appropriated | 9905 | €272,550 | €306,982 | +€34,431 | +12.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.