DOKTER PALMERS: 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 PALMERS
Largest movements
- Tangible fixed assets +€100,687
up €100,687 (+47.0%), from €214,232 to €314,919
of which Land and buildings: +€111,237
- Receivables within one year +€67,883
up €67,883 (+82.1%), from €82,687 to €150,570
of which Trade receivables: +€37,817
- Cash -€50,321
down €50,321 (-77.2%), from €65,155 to €14,833
mainly Contributions, distributions and other (-€174,000) and Investment in fixed assets (net) (-€120,134)
- Current investments +€31,482
up €31,482 (+157%), from €20,096 to €51,578
- Debts after one year +€104,108
up €104,108 (+71.5%), from €145,518 to €249,625
- Other debts +€74,000
up €74,000 (+74.0%), from €100,000 to €174,000
- Reserves +€50,355
up €50,355 (+515%), from €9,785 to €60,140
- Profit (loss) carried forward -€49,720
no longer reported in 2025 (was €49,720)
- Trade debts -€18,756
down €18,756 (-54.7%), from €34,318 to €15,561
- Gross operating margin +€58,885
up €58,885 (+30.2%), from €194,785 to €253,671
- Taxes +€12,676
up €12,676 (+32.6%), from €38,841 to €51,517
- Depreciation -€5,598
down €5,598 (-22.4%), from €25,045 to €19,447
- Financial charges +€3,976
up €3,976 (+80.7%), from €4,927 to €8,903
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 | €382,849 | €532,620 | +€149,771 | +39.1% |
| Fixed assets | 21/28 | €214,232 | €314,919 | +€100,687 | +47.0% |
| Tangible fixed assets | 22/27 | €214,232 | €314,919 | +€100,687 | +47.0% |
| Land and buildings | 22 | €172,244 | €283,481 | +€111,237 | +64.6% |
| Plant, machinery and equipment | 23 | €4,746 | €5,736 | +€990 | +20.9% |
| Furniture and vehicles | 24 | €37,242 | €25,702 | -€11,540 | -31.0% |
| Current assets | 29/58 | €168,617 | €217,701 | +€49,084 | +29.1% |
| Amounts receivable within one year | 40/41 | €82,687 | €150,570 | +€67,883 | +82.1% |
| Trade receivables | 40 | €54,699 | €92,516 | +€37,817 | +69.1% |
| Other amounts receivable | 41 | €27,988 | €58,054 | +€30,066 | +107% |
| Current investments | 50/53 | €20,096 | €51,578 | +€31,482 | +157% |
| Cash at bank and in hand | 54/58 | €65,155 | €14,833 | -€50,321 | -77.2% |
| Deferred charges and accrued income | 490/1 | €679 | €720 | +€41 | +6.0% |
| Total equity and liabilities | 10/49 | €382,849 | €532,620 | +€149,771 | +39.1% |
| Equity | 10/15 | €78,055 | €78,690 | +€635 | +0.8% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €9,785 | €60,140 | +€50,355 | +515% |
| Distributable reserves | 133 | €9,785 | €60,140 | +€50,355 | +515% |
| Profit (loss) carried forward | 14 | €49,720 | - | -€49,720 | |
| Amounts payable | 17/49 | €304,794 | €453,931 | +€149,136 | +48.9% |
| Amounts payable after more than one year | 17 | €145,518 | €249,625 | +€104,108 | +71.5% |
| Financial debts | 170/4 | €145,518 | €249,625 | +€104,108 | +71.5% |
| Amounts payable within one year | 42/48 | €159,277 | €204,306 | +€45,029 | +28.3% |
| Current portion of amounts payable after more than one year | 42 | €18,891 | €13,290 | -€5,601 | -29.7% |
| Trade debts | 44 | €34,318 | €15,561 | -€18,756 | -54.7% |
| Suppliers | 440/4 | €34,318 | €15,561 | -€18,756 | -54.7% |
| Taxes, remuneration and social security | 45 | €6,067 | €1,454 | -€4,613 | -76.0% |
| Taxes | 450/3 | €6,067 | €1,454 | -€4,613 | -76.0% |
| Other amounts payable | 47/48 | €100,000 | €174,000 | +€74,000 | +74.0% |
| Non-recurring operating income | 76A | €7,691 | €139 | -€7,552 | -98.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,045 | €19,447 | -€5,598 | -22.4% |
| Other operating charges | 640/8 | €1,180 | €1,780 | +€600 | +50.9% |
| Gross operating margin | 9900 | €194,785 | €253,671 | +€58,885 | +30.2% |
| Operating profit (loss) | 9901 | €168,560 | €232,444 | +€63,883 | +37.9% |
| Financial income | 75/76B | €2,459 | €2,611 | +€151 | +6.1% |
| Recurring financial income | 75 | €2,459 | €2,611 | +€151 | +6.1% |
| Financial charges | 65/66B | €4,927 | €8,903 | +€3,976 | +80.7% |
| Recurring financial charges | 65 | €4,927 | €8,903 | +€3,976 | +80.7% |
| Profit (loss) for the period before taxes | 9903 | €166,093 | €226,152 | +€60,059 | +36.2% |
| Income taxes | 67/77 | €38,841 | €51,517 | +€12,676 | +32.6% |
| Profit (loss) for the period | 9904 | €127,251 | €174,635 | +€47,383 | +37.2% |
| Profit (loss) for the period to be appropriated | 9905 | €127,251 | €174,635 | +€47,383 | +37.2% |
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 26 October 2026 via checked.be.