Dokter Marc Van Malder: 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 Van Malder
Largest movements
- Cash -€181,390
down €181,390 (-58.0%), from €312,850 to €131,460
mainly Contributions, distributions and other (-€163,291) and Other debts (-€47,228)
- Receivables within one year +€38,543
up €38,543 (+149%), from €25,881 to €64,424
of which Other amounts receivable: +€50,857
- Tangible fixed assets -€17,978
down €17,978 (-23.2%), from €77,474 to €59,496
of which Furniture and vehicles: -€13,318
- Intangible fixed assets -€7,500
down €7,500 (-25.0%), from €30,000 to €22,500
- Reserves -€115,670
down €115,670 (-42.7%), from €270,621 to €154,951
- Other debts -€47,228
down €47,228 (-59.7%), from €79,053 to €31,826
- Debts after one year -€13,864
down €13,864 (-43.5%), from €31,847 to €17,983
- Tax, wage and social debts +€7,797
up €7,797 (+260%), from €3,000 to €10,797
of which Taxes: +€8,297
- Gross operating margin +€24,485
up €24,485 (+35.6%), from €68,725 to €93,210
- Taxes +€5,615
up €5,615 (+45.0%), from €12,481 to €18,097
- Depreciation +€3,735
up €3,735 (+17.2%), from €21,743 to €25,478
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 | €448,702 | €280,517 | -€168,185 | -37.5% |
| Fixed assets | 21/28 | €107,474 | €81,996 | -€25,478 | -23.7% |
| Intangible fixed assets | 21 | €30,000 | €22,500 | -€7,500 | -25.0% |
| Tangible fixed assets | 22/27 | €77,474 | €59,496 | -€17,978 | -23.2% |
| Land and buildings | 22 | €19,075 | €14,696 | -€4,380 | -23.0% |
| Plant, machinery and equipment | 23 | €1,039 | €760 | -€280 | -26.9% |
| Furniture and vehicles | 24 | €57,359 | €44,041 | -€13,318 | -23.2% |
| Current assets | 29/58 | €341,228 | €198,521 | -€142,707 | -41.8% |
| Amounts receivable within one year | 40/41 | €25,881 | €64,424 | +€38,543 | +149% |
| Trade receivables | 40 | €12,314 | €0 | -€12,314 | -100% |
| Other amounts receivable | 41 | €13,567 | €64,424 | +€50,857 | +375% |
| Cash at bank and in hand | 54/58 | €312,850 | €131,460 | -€181,390 | -58.0% |
| Deferred charges and accrued income | 490/1 | €2,498 | €2,636 | +€139 | +5.6% |
| Total equity and liabilities | 10/49 | €448,702 | €280,517 | -€168,185 | -37.5% |
| Equity | 10/15 | €320,621 | €204,951 | -€115,670 | -36.1% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €270,621 | €154,951 | -€115,670 | -42.7% |
| Distributable reserves | 133 | €270,621 | €154,951 | -€115,670 | -42.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €128,081 | €75,565 | -€52,515 | -41.0% |
| Amounts payable after more than one year | 17 | €31,847 | €17,983 | -€13,864 | -43.5% |
| Financial debts | 170/4 | €31,847 | €17,983 | -€13,864 | -43.5% |
| Amounts payable within one year | 42/48 | €96,233 | €57,582 | -€38,651 | -40.2% |
| Current portion of amounts payable after more than one year | 42 | €13,416 | €13,864 | +€448 | +3.3% |
| Trade debts | 44 | €764 | €1,096 | +€331 | +43.4% |
| Suppliers | 440/4 | €764 | €1,096 | +€331 | +43.4% |
| Taxes, remuneration and social security | 45 | €3,000 | €10,797 | +€7,797 | +260% |
| Taxes | 450/3 | - | €8,297 | +€8,297 | |
| Remuneration and social security | 454/9 | €3,000 | €2,500 | -€500 | -16.7% |
| Other amounts payable | 47/48 | €79,053 | €31,826 | -€47,228 | -59.7% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,743 | €25,478 | +€3,735 | +17.2% |
| Other operating charges | 640/8 | €451 | €518 | +€67 | +14.9% |
| Gross operating margin | 9900 | €68,725 | €93,210 | +€24,485 | +35.6% |
| Operating profit (loss) | 9901 | €46,531 | €67,214 | +€20,683 | +44.4% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €1,552 | €1,496 | -€56 | -3.6% |
| Recurring financial charges | 65 | €1,552 | €1,496 | -€56 | -3.6% |
| Profit (loss) for the period before taxes | 9903 | €44,979 | €65,718 | +€20,739 | +46.1% |
| Income taxes | 67/77 | €12,481 | €18,097 | +€5,615 | +45.0% |
| Profit (loss) for the period | 9904 | €32,498 | €47,622 | +€15,124 | +46.5% |
| Profit (loss) for the period to be appropriated | 9905 | €32,498 | €47,622 | +€15,124 | +46.5% |
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.