DOKTER MAES BART: 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 MAES BART
Largest movements
- Current investments +€328,380
up €328,380 (+8.3%), from €3.9m to €4.3m
- Cash +€230,690
up €230,690 (+96.9%), from €237,990 to €468,680
mainly Net result for the year (+€640,349) and Provisions (+€41,833)
- Receivables within one year +€55,412
up €55,412 (+23.5%), from €235,615 to €291,028
of which Other amounts receivable: +€56,412
- Reserves +€638,683
up €638,683 (+20.1%), from €3.2m to €3.8m
of which Distributable reserves: +€638,683
- Other debts -€50,379
down €50,379 (-87.7%), from €57,429 to €7,050
- Financial income +€77,549
up €77,549 (+64.9%), from €119,427 to €196,976
- Gross operating margin -€19,522
down €19,522 (-2.6%), from €747,655 to €728,133
- Financial charges +€15,470
up €15,470 (+61.4%), from €25,207 to €40,677
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 | €4,421,519 | €5,037,131 | +€615,612 | +13.9% |
| Fixed assets | 21/28 | €1,833 | €3,024 | +€1,191 | +65.0% |
| Tangible fixed assets | 22/27 | €1,833 | €2,524 | +€691 | +37.7% |
| Furniture and vehicles | 24 | €1,833 | €2,524 | +€691 | +37.7% |
| Financial fixed assets | 28 | - | €500 | +€500 | |
| Current assets | 29/58 | €4,419,685 | €5,034,107 | +€614,421 | +13.9% |
| Amounts receivable within one year | 40/41 | €235,615 | €291,028 | +€55,412 | +23.5% |
| Trade receivables | 40 | €1,000 | €0 | -€1,000 | -100% |
| Other amounts receivable | 41 | €234,615 | €291,028 | +€56,412 | +24.0% |
| Current investments | 50/53 | €3,942,569 | €4,270,950 | +€328,380 | +8.3% |
| Cash at bank and in hand | 54/58 | €237,990 | €468,680 | +€230,690 | +96.9% |
| Deferred charges and accrued income | 490/1 | €3,510 | €3,449 | -€61 | -1.7% |
| Total equity and liabilities | 10/49 | €4,421,519 | €5,037,131 | +€615,612 | +13.9% |
| Equity | 10/15 | €3,184,434 | €3,823,117 | +€638,683 | +20.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €3,172,034 | €3,810,717 | +€638,683 | +20.1% |
| Tax-exempt reserves | 132 | €1,396 | €1,396 | = | 0.0% |
| Distributable reserves | 133 | €3,170,638 | €3,809,321 | +€638,683 | +20.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €1,015,383 | €1,057,216 | +€41,833 | +4.1% |
| Provisions for liabilities and charges | 160/5 | €1,015,383 | €1,057,216 | +€41,833 | +4.1% |
| Other liabilities and charges | 164/5 | €1,015,383 | €1,057,216 | +€41,833 | +4.1% |
| Amounts payable | 17/49 | €221,702 | €156,798 | -€64,904 | -29.3% |
| Amounts payable within one year | 42/48 | €217,178 | €156,541 | -€60,637 | -27.9% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €1,185 | €103 | -€1,083 | -91.3% |
| Suppliers | 440/4 | €1,185 | €103 | -€1,083 | -91.3% |
| Taxes, remuneration and social security | 45 | €158,564 | €149,389 | -€9,175 | -5.8% |
| Taxes | 450/3 | €158,564 | €149,389 | -€9,175 | -5.8% |
| Other amounts payable | 47/48 | €57,429 | €7,050 | -€50,379 | -87.7% |
| Accrued charges and deferred income | 492/3 | €4,524 | €256 | -€4,267 | -94.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,415 | €2,098 | -€317 | -13.1% |
| Other operating charges | 640/8 | €6,230 | €8,462 | +€2,232 | +35.8% |
| Gross operating margin | 9900 | €747,655 | €728,133 | -€19,522 | -2.6% |
| Operating profit (loss) | 9901 | €739,010 | €717,572 | -€21,438 | -2.9% |
| Financial income | 75/76B | €119,427 | €196,976 | +€77,549 | +64.9% |
| Recurring financial income | 75 | €119,427 | €196,976 | +€77,549 | +64.9% |
| Financial charges | 65/66B | €25,207 | €40,677 | +€15,470 | +61.4% |
| Recurring financial charges | 65 | €25,207 | €40,677 | +€15,470 | +61.4% |
| Profit (loss) for the period before taxes | 9903 | €833,230 | €873,872 | +€40,641 | +4.9% |
| Income taxes | 67/77 | €240,325 | €233,522 | -€6,803 | -2.8% |
| Profit (loss) for the period | 9904 | €592,905 | €640,349 | +€47,444 | +8.0% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €592,905 | €640,349 | +€47,444 | +8.0% |
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 19 October 2026 via checked.be.