Dokter Marc Govaerts: 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 Marc Govaerts
Largest movements
- Cash -€37,929
down €37,929 (-34.2%), from €110,754 to €72,825
mainly Contributions, distributions and other (-€165,000) and Debts after one year (-€48,603)
- Tangible fixed assets -€26,688
down €26,688 (-4.6%), from €586,082 to €559,394
of which Land and buildings: -€31,497
- Debts after one year -€48,603
down €48,603 (-14.9%), from €325,660 to €277,057
- Other debts -€42,250
down €42,250 (-23.2%), from €182,500 to €140,250
- Tax, wage and social debts +€22,921
up €22,921 (+90.8%), from €25,235 to €48,156
of which Taxes: +€25,693
- Gross operating margin -€22,453
down €22,453 (-6.1%), from €366,566 to €344,113
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 | €711,055 | €643,269 | -€67,786 | -9.5% |
| Fixed assets | 21/28 | €586,082 | €559,394 | -€26,688 | -4.6% |
| Tangible fixed assets | 22/27 | €586,082 | €559,394 | -€26,688 | -4.6% |
| Land and buildings | 22 | €566,889 | €535,392 | -€31,497 | -5.6% |
| Plant, machinery and equipment | 23 | €5,303 | €2,618 | -€2,685 | -50.6% |
| Furniture and vehicles | 24 | €1,986 | €5,059 | +€3,073 | +155% |
| Other tangible fixed assets | 26 | €11,904 | €16,325 | +€4,422 | +37.1% |
| Current assets | 29/58 | €124,973 | €83,875 | -€41,098 | -32.9% |
| Amounts receivable within one year | 40/41 | €3,215 | €3,014 | -€201 | -6.3% |
| Other amounts receivable | 41 | €3,215 | €3,014 | -€201 | -6.3% |
| Cash at bank and in hand | 54/58 | €110,754 | €72,825 | -€37,929 | -34.2% |
| Deferred charges and accrued income | 490/1 | €11,004 | €8,036 | -€2,968 | -27.0% |
| Total equity and liabilities | 10/49 | €711,055 | €643,269 | -€67,786 | -9.5% |
| Equity | 10/15 | €115,873 | €117,642 | +€1,769 | +1.5% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €105,873 | €107,642 | +€1,769 | +1.7% |
| Amounts payable | 17/49 | €595,182 | €525,627 | -€69,555 | -11.7% |
| Amounts payable after more than one year | 17 | €325,660 | €277,057 | -€48,603 | -14.9% |
| Financial debts | 170/4 | €325,660 | €277,057 | -€48,603 | -14.9% |
| Amounts payable within one year | 42/48 | €255,855 | €237,010 | -€18,845 | -7.4% |
| Current portion of amounts payable after more than one year | 42 | €48,120 | €48,603 | +€484 | +1.0% |
| Taxes, remuneration and social security | 45 | €25,235 | €48,156 | +€22,921 | +90.8% |
| Taxes | 450/3 | €8,518 | €34,210 | +€25,693 | +302% |
| Remuneration and social security | 454/9 | €16,717 | €13,946 | -€2,772 | -16.6% |
| Other amounts payable | 47/48 | €182,500 | €140,250 | -€42,250 | -23.2% |
| Accrued charges and deferred income | 492/3 | €13,667 | €11,561 | -€2,106 | -15.4% |
| Remuneration, social security and pensions | 62 | €76,271 | €74,261 | -€2,010 | -2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,031 | €39,470 | -€1,561 | -3.8% |
| Other operating charges | 640/8 | €1,946 | €2,881 | +€935 | +48.0% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €366,566 | €344,113 | -€22,453 | -6.1% |
| Operating profit (loss) | 9901 | €247,318 | €227,500 | -€19,818 | -8.0% |
| Financial income | 75/76B | €160 | €169 | +€9 | +5.4% |
| Recurring financial income | 75 | €160 | €169 | +€9 | +5.4% |
| Financial charges | 65/66B | €6,980 | €6,519 | -€461 | -6.6% |
| Recurring financial charges | 65 | €6,980 | €6,519 | -€461 | -6.6% |
| Profit (loss) for the period before taxes | 9903 | €240,498 | €221,150 | -€19,348 | -8.0% |
| Income taxes | 67/77 | €57,616 | €54,381 | -€3,235 | -5.6% |
| Profit (loss) for the period | 9904 | €182,882 | €166,769 | -€16,113 | -8.8% |
| Profit (loss) for the period to be appropriated | 9905 | €182,882 | €166,769 | -€16,113 | -8.8% |
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 31 October 2026 via checked.be.