DOKTER KALINOV: 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 KALINOV
Largest movements
- Current investments +€162,956
up €162,956 (+166%), from €98,461 to €261,417
- Cash -€105,349
down €105,349 (-42.5%), from €248,000 to €142,651
mainly Current investments (-€162,956) and Contributions, distributions and other (-€49,934)
- Tangible fixed assets -€11,115
down €11,115 (-24.7%), from €44,926 to €33,812
of which Furniture and vehicles: -€8,597
- Receivables within one year -€5,398
down €5,398 (-15.7%), from €34,444 to €29,046
- Other debts +€23,470
up €23,470 (+83.9%), from €27,988 to €51,458
- Reserves +€22,808
up €22,808 (+6.2%), from €367,201 to €390,008
- Gross operating margin -€3,638
down €3,638 (-3.1%), from €118,601 to €114,963
- Financial income -€3,035
down €3,035 (-47.9%), from €6,343 to €3,308
- Taxes -€2,063
down €2,063 (-6.5%), from €31,885 to €29,822
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 | €426,701 | €472,442 | +€45,741 | +10.7% |
| Fixed assets | 21/28 | €44,926 | €33,812 | -€11,115 | -24.7% |
| Tangible fixed assets | 22/27 | €44,926 | €33,812 | -€11,115 | -24.7% |
| Plant, machinery and equipment | 23 | €2,652 | €135 | -€2,517 | -94.9% |
| Furniture and vehicles | 24 | €42,274 | €33,677 | -€8,597 | -20.3% |
| Current assets | 29/58 | €381,774 | €438,630 | +€56,856 | +14.9% |
| Amounts receivable within one year | 40/41 | €34,444 | €29,046 | -€5,398 | -15.7% |
| Trade receivables | 40 | €34,444 | €29,046 | -€5,398 | -15.7% |
| Current investments | 50/53 | €98,461 | €261,417 | +€162,956 | +166% |
| Cash at bank and in hand | 54/58 | €248,000 | €142,651 | -€105,349 | -42.5% |
| Deferred charges and accrued income | 490/1 | €870 | €5,515 | +€4,645 | +534% |
| Total equity and liabilities | 10/49 | €426,701 | €472,442 | +€45,741 | +10.7% |
| Equity | 10/15 | €379,601 | €402,408 | +€22,808 | +6.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €367,201 | €390,008 | +€22,808 | +6.2% |
| Distributable reserves | 133 | €367,201 | €390,008 | +€22,808 | +6.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €47,100 | €70,033 | +€22,933 | +48.7% |
| Amounts payable within one year | 42/48 | €47,100 | €70,033 | +€22,933 | +48.7% |
| Trade debts | 44 | €3,711 | €1,449 | -€2,262 | -61.0% |
| Suppliers | 440/4 | €3,711 | €1,449 | -€2,262 | -61.0% |
| Taxes, remuneration and social security | 45 | €15,401 | €17,126 | +€1,725 | +11.2% |
| Taxes | 450/3 | €15,401 | €17,126 | +€1,725 | +11.2% |
| Other amounts payable | 47/48 | €27,988 | €51,458 | +€23,470 | +83.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,057 | €12,449 | -€608 | -4.7% |
| Other operating charges | 640/8 | €1,154 | €1,830 | +€677 | +58.7% |
| Gross operating margin | 9900 | €118,601 | €114,963 | -€3,638 | -3.1% |
| Operating profit (loss) | 9901 | €104,390 | €100,683 | -€3,707 | -3.6% |
| Financial income | 75/76B | €6,343 | €3,308 | -€3,035 | -47.9% |
| Recurring financial income | 75 | €6,343 | €3,308 | -€3,035 | -47.9% |
| Financial charges | 65/66B | €1,810 | €1,428 | -€382 | -21.1% |
| Recurring financial charges | 65 | €1,810 | €1,428 | -€382 | -21.1% |
| Profit (loss) for the period before taxes | 9903 | €108,923 | €102,563 | -€6,360 | -5.8% |
| Income taxes | 67/77 | €31,885 | €29,822 | -€2,063 | -6.5% |
| Profit (loss) for the period | 9904 | €77,038 | €72,742 | -€4,296 | -5.6% |
| Profit (loss) for the period to be appropriated | 9905 | €77,038 | €72,742 | -€4,296 | -5.6% |
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.