DOKTER MATTHIEU COMBES: 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 MATTHIEU COMBES
Largest movements
- Current investments +€107,205
up €107,205 (+28.5%), from €376,410 to €483,615
- Receivables after one year -€66,000
down €66,000 (-22.5%), from €293,000 to €227,000
- Receivables within one year +€56,649
up €56,649 (+86.9%), from €65,159 to €121,808
of which Trade receivables: +€61,806
- Tangible fixed assets -€41,188
down €41,188 (-42.3%), from €97,289 to €56,101
- Other debts +€128,573
up €128,573 (+97.3%), from €132,124 to €260,698
- Reserves -€71,781
down €71,781 (-11.1%), from €647,264 to €575,483
of which Distributable reserves: -€71,781
- Tax, wage and social debts +€17,855
up €17,855 (+41.3%), from €43,259 to €61,114
- Debts after one year -€13,500
down €13,500 (-37.5%), from €36,000 to €22,500
- Gross operating margin -€12,209
down €12,209 (-3.8%), from €318,387 to €306,179
- Financial income +€9,852
up €9,852 (+102%), from €9,660 to €19,512
- Depreciation -€3,363
down €3,363 (-6.0%), from €55,605 to €52,242
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 | €895,752 | €953,250 | +€57,498 | +6.4% |
| Fixed assets | 21/28 | €153,823 | €105,568 | -€48,255 | -31.4% |
| Intangible fixed assets | 21 | €56,534 | €49,467 | -€7,067 | -12.5% |
| Tangible fixed assets | 22/27 | €97,289 | €56,101 | -€41,188 | -42.3% |
| Land and buildings | 22 | €58,080 | €38,702 | -€19,378 | -33.4% |
| Plant, machinery and equipment | 23 | €22,419 | €17,344 | -€5,075 | -22.6% |
| Furniture and vehicles | 24 | €16,790 | €54 | -€16,736 | -99.7% |
| Current assets | 29/58 | €741,929 | €847,682 | +€105,753 | +14.3% |
| Amounts receivable after more than one year | 29 | €293,000 | €227,000 | -€66,000 | -22.5% |
| Other amounts receivable | 291 | €293,000 | €227,000 | -€66,000 | -22.5% |
| Amounts receivable within one year | 40/41 | €65,159 | €121,808 | +€56,649 | +86.9% |
| Trade receivables | 40 | - | €61,806 | +€61,806 | |
| Other amounts receivable | 41 | €65,159 | €60,002 | -€5,157 | -7.9% |
| Current investments | 50/53 | €376,410 | €483,615 | +€107,205 | +28.5% |
| Cash at bank and in hand | 54/58 | €7,361 | €15,259 | +€7,898 | +107% |
| Total equity and liabilities | 10/49 | €895,752 | €953,250 | +€57,498 | +6.4% |
| Equity | 10/15 | €659,664 | €587,883 | -€71,781 | -10.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €647,264 | €575,483 | -€71,781 | -11.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €645,404 | €573,623 | -€71,781 | -11.1% |
| Amounts payable | 17/49 | €236,088 | €365,367 | +€129,279 | +54.8% |
| Amounts payable after more than one year | 17 | €36,000 | €22,500 | -€13,500 | -37.5% |
| Financial debts | 170/4 | €36,000 | €22,500 | -€13,500 | -37.5% |
| Amounts payable within one year | 42/48 | €198,088 | €340,202 | +€142,114 | +71.7% |
| Current portion of amounts payable after more than one year | 42 | €22,007 | €13,500 | -€8,507 | -38.7% |
| Trade debts | 44 | €697 | €4,891 | +€4,193 | +601% |
| Suppliers | 440/4 | €697 | €4,891 | +€4,193 | +601% |
| Taxes, remuneration and social security | 45 | €43,259 | €61,114 | +€17,855 | +41.3% |
| Taxes | 450/3 | €43,259 | €61,114 | +€17,855 | +41.3% |
| Other amounts payable | 47/48 | €132,124 | €260,698 | +€128,573 | +97.3% |
| Accrued charges and deferred income | 492/3 | €2,000 | €2,665 | +€665 | +33.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,605 | €52,242 | -€3,363 | -6.0% |
| Other operating charges | 640/8 | €1,094 | €712 | -€381 | -34.9% |
| Gross operating margin | 9900 | €318,387 | €306,179 | -€12,209 | -3.8% |
| Operating profit (loss) | 9901 | €261,688 | €253,224 | -€8,464 | -3.2% |
| Financial income | 75/76B | €9,660 | €19,512 | +€9,852 | +102% |
| Recurring financial income | 75 | €9,660 | €19,512 | +€9,852 | +102% |
| Financial charges | 65/66B | €2,723 | €2,169 | -€554 | -20.3% |
| Recurring financial charges | 65 | €2,723 | €2,169 | -€554 | -20.3% |
| Profit (loss) for the period before taxes | 9903 | €268,626 | €270,568 | +€1,942 | +0.7% |
| Income taxes | 67/77 | €81,321 | €81,949 | +€627 | +0.8% |
| Profit (loss) for the period | 9904 | €187,304 | €188,619 | +€1,315 | +0.7% |
| Profit (loss) for the period to be appropriated | 9905 | €187,304 | €188,619 | +€1,315 | +0.7% |
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 1 November 2026 via checked.be.