Dokter Mandervelt 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 Mandervelt Bart
Largest movements
- Cash +€19,716
up €19,716 (+37.0%), from €53,271 to €72,986
mainly Net result for the year (+€66,217) and Depreciation (+€23,624)
- Receivables within one year +€14,688
up €14,688 (+477%), from €3,080 to €17,768
of which Trade receivables: +€8,600
- Stocks and contracts -€8,190
down €8,190 (-64.8%), from €12,647 to €4,457
- Tangible fixed assets +€4,044
up €4,044 (+3.2%), from €125,371 to €129,415
of which Other tangible fixed assets: +€11,000
- Deferred charges and accrued income +€2,412
up €2,412 (+233%), from €1,037 to €3,450
- Profit (loss) carried forward +€66,217
new in 2025: €66,217
- Debts after one year -€32,527
down €32,527 (-46.1%), from €70,552 to €38,025
- Other debts -€6,763
no longer reported in 2025 (was €6,763)
- Tax, wage and social debts +€4,349
new in 2025: €4,349
- Gross operating margin +€20,201
up €20,201 (+21.7%), from €92,931 to €113,132
- Taxes +€4,429
up €4,429 (+29.7%), from €14,920 to €19,349
- Financial charges -€1,159
down €1,159 (-24.9%), from €4,648 to €3,488
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 | €195,406 | €228,077 | +€32,671 | +16.7% |
| Fixed assets | 21/28 | €125,371 | €129,415 | +€4,044 | +3.2% |
| Tangible fixed assets | 22/27 | €125,371 | €129,415 | +€4,044 | +3.2% |
| Plant, machinery and equipment | 23 | €5,648 | €4,150 | -€1,498 | -26.5% |
| Furniture and vehicles | 24 | €108,473 | €103,016 | -€5,457 | -5.0% |
| Other tangible fixed assets | 26 | €11,250 | €22,250 | +€11,000 | +97.8% |
| Current assets | 29/58 | €70,035 | €98,661 | +€28,627 | +40.9% |
| Stocks and contracts in progress | 3 | €12,647 | €4,457 | -€8,190 | -64.8% |
| Contracts in progress | 37 | €12,647 | €4,457 | -€8,190 | -64.8% |
| Amounts receivable within one year | 40/41 | €3,080 | €17,768 | +€14,688 | +477% |
| Trade receivables | 40 | €3,000 | €11,600 | +€8,600 | +287% |
| Other amounts receivable | 41 | €80 | €6,168 | +€6,088 | +7,625% |
| Cash at bank and in hand | 54/58 | €53,271 | €72,986 | +€19,716 | +37.0% |
| Deferred charges and accrued income | 490/1 | €1,037 | €3,450 | +€2,412 | +233% |
| Total equity and liabilities | 10/49 | €195,406 | €228,077 | +€32,671 | +16.7% |
| Equity | 10/15 | €86,520 | €152,737 | +€66,217 | +76.5% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €76,520 | €76,520 | = | 0.0% |
| Distributable reserves | 133 | €76,520 | €76,520 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €66,217 | +€66,217 | |
| Amounts payable | 17/49 | €108,886 | €75,340 | -€33,546 | -30.8% |
| Amounts payable after more than one year | 17 | €70,552 | €38,025 | -€32,527 | -46.1% |
| Financial debts | 170/4 | €70,552 | €38,025 | -€32,527 | -46.1% |
| Amounts payable within one year | 42/48 | €38,333 | €37,315 | -€1,019 | -2.7% |
| Current portion of amounts payable after more than one year | 42 | €31,294 | €32,527 | +€1,233 | +3.9% |
| Trade debts | 44 | €276 | €439 | +€163 | +58.8% |
| Suppliers | 440/4 | €276 | €439 | +€163 | +58.8% |
| Taxes, remuneration and social security | 45 | - | €4,349 | +€4,349 | |
| Taxes | 450/3 | - | €4,349 | +€4,349 | |
| Other amounts payable | 47/48 | €6,763 | - | -€6,763 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,128 | €23,624 | -€504 | -2.1% |
| Other operating charges | 640/8 | €576 | €462 | -€114 | -19.8% |
| Gross operating margin | 9900 | €92,931 | €113,132 | +€20,201 | +21.7% |
| Operating profit (loss) | 9901 | €68,228 | €89,047 | +€20,818 | +30.5% |
| Financial income | 75/76B | €0 | €7 | +€7 | +7,100% |
| Recurring financial income | 75 | €0 | €7 | +€7 | +7,100% |
| Financial charges | 65/66B | €4,648 | €3,488 | -€1,159 | -24.9% |
| Recurring financial charges | 65 | €4,648 | €3,488 | -€1,159 | -24.9% |
| Profit (loss) for the period before taxes | 9903 | €63,581 | €85,566 | +€21,985 | +34.6% |
| Income taxes | 67/77 | €14,920 | €19,349 | +€4,429 | +29.7% |
| Profit (loss) for the period | 9904 | €48,661 | €66,217 | +€17,556 | +36.1% |
| Profit (loss) for the period to be appropriated | 9905 | €48,661 | €66,217 | +€17,556 | +36.1% |
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 18 October 2026 via checked.be.