DOKTER I. VANHANDENHOVE: what changed
DOKTER I. VANHANDENHOVE
Largest movements
- Cash -€59,607
down €59,607 (-43.7%), from €136,546 to €76,939
mainly Current investments (-€52,840) and Investment in fixed assets (net) (-€31,771)
- Current investments +€52,840
up €52,840 (+52.8%), from €100,000 to €152,840
- Financial fixed assets +€18,318
up €18,318 (+130%), from €14,131 to €32,449
- Receivables within one year +€17,327
up €17,327 (+16.3%), from €106,076 to €123,403
of which Trade receivables: +€14,315
- Reserves +€38,793
up €38,793 (+11.4%), from €339,553 to €378,347
- Current portion of long-term debt -€7,517
down €7,517 (-52.8%), from €14,250 to €6,733
- Debts after one year -€6,733
no longer reported in 2025 (was €6,733)
- Gross operating margin +€8,328
up €8,328 (+13.1%), from €63,776 to €72,105
- Depreciation +€2,374
up €2,374 (+16.4%), from €14,511 to €16,885
- Taxes +€2,199
up €2,199 (+13.7%), from €16,008 to €18,207
- Other operating charges -€1,194
down €1,194 (-76.8%), from €1,554 to €360
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €384,584 | €410,031 | +€25,447 | +6.6% |
| Fixed assets | 21/28 | €41,537 | €56,424 | +€14,886 | +35.8% |
| Tangible fixed assets | 22/27 | €27,407 | €23,975 | -€3,432 | -12.5% |
| Land and buildings | 22 | €11,032 | - | -€11,032 | |
| Plant, machinery and equipment | 23 | €10,075 | €17,675 | +€7,600 | +75.4% |
| Furniture and vehicles | 24 | €6,300 | €6,300 | = | 0.0% |
| Financial fixed assets | 28 | €14,131 | €32,449 | +€18,318 | +130% |
| Current assets | 29/58 | €343,047 | €353,607 | +€10,560 | +3.1% |
| Amounts receivable within one year | 40/41 | €106,076 | €123,403 | +€17,327 | +16.3% |
| Trade receivables | 40 | €46,217 | €60,531 | +€14,315 | +31.0% |
| Other amounts receivable | 41 | €59,859 | €62,871 | +€3,012 | +5.0% |
| Current investments | 50/53 | €100,000 | €152,840 | +€52,840 | +52.8% |
| Cash at bank and in hand | 54/58 | €136,546 | €76,939 | -€59,607 | -43.7% |
| Deferred charges and accrued income | 490/1 | €425 | €425 | = | 0.0% |
| Total equity and liabilities | 10/49 | €384,584 | €410,031 | +€25,447 | +6.6% |
| Equity | 10/15 | €358,145 | €396,939 | +€38,793 | +10.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €339,553 | €378,347 | +€38,793 | +11.4% |
| Distributable reserves | 133 | €339,553 | €378,347 | +€38,793 | +11.4% |
| Amounts payable | 17/49 | €26,439 | €13,092 | -€13,347 | -50.5% |
| Amounts payable after more than one year | 17 | €6,733 | - | -€6,733 | |
| Financial debts | 170/4 | €6,733 | - | -€6,733 | |
| Amounts payable within one year | 42/48 | €19,706 | €13,092 | -€6,614 | -33.6% |
| Current portion of amounts payable after more than one year | 42 | €14,250 | €6,733 | -€7,517 | -52.8% |
| Trade debts | 44 | €2,034 | €1,324 | -€710 | -34.9% |
| Suppliers | 440/4 | €2,034 | €1,324 | -€710 | -34.9% |
| Taxes, remuneration and social security | 45 | €1,416 | €167 | -€1,249 | -88.2% |
| Taxes | 450/3 | €1,416 | €167 | -€1,249 | -88.2% |
| Other amounts payable | 47/48 | €2,006 | €4,868 | +€2,863 | +143% |
| Non-recurring operating income | 76A | €5,715 | - | -€5,715 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,511 | €16,885 | +€2,374 | +16.4% |
| Other operating charges | 640/8 | €1,554 | €360 | -€1,194 | -76.8% |
| Gross operating margin | 9900 | €63,776 | €72,105 | +€8,328 | +13.1% |
| Operating profit (loss) | 9901 | €47,711 | €54,860 | +€7,149 | +15.0% |
| Financial income | 75/76B | €3,776 | €4,065 | +€289 | +7.7% |
| Recurring financial income | 75 | €3,776 | €4,065 | +€289 | +7.7% |
| Financial charges | 65/66B | €2,162 | €1,925 | -€238 | -11.0% |
| Recurring financial charges | 65 | €2,162 | €1,924 | -€238 | -11.0% |
| Non-recurring financial charges | 66B | €0 | €0 | +€0 | +450% |
| Profit (loss) for the period before taxes | 9903 | €49,325 | €57,001 | +€7,676 | +15.6% |
| Income taxes | 67/77 | €16,008 | €18,207 | +€2,199 | +13.7% |
| Profit (loss) for the period | 9904 | €33,317 | €38,793 | +€5,476 | +16.4% |
| Profit (loss) for the period to be appropriated | 9905 | €33,317 | €38,793 | +€5,476 | +16.4% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.