DOKTER PATRICK VUYLSTEKE: 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 PATRICK VUYLSTEKE
Largest movements
- Current investments -€282,764
down €282,764 (-31.1%), from €909,908 to €627,144
- Cash -€243,325
down €243,325 (-95.9%), from €253,802 to €10,476
mainly Contributions, distributions and other (-€547,430) and Tax, wage and social debts (-€19,399)
- Reserves -€501,994
down €501,994 (-42.1%), from €1.2m to €690,145
- Tax, wage and social debts -€19,399
down €19,399 (-44.6%), from €43,530 to €24,130
of which Taxes: -€19,399
- Gross operating margin -€16,669
down €16,669 (-56.2%), from €29,675 to €13,006
- Taxes -€7,178
down €7,178 (-21.8%), from €32,887 to €25,709
- Financial income -€4,738
down €4,738 (-6.4%), from €74,136 to €69,398
- Financial charges -€3,914
down €3,914 (-85.9%), from €4,555 to €641
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 | €1,258,220 | €733,848 | -€524,372 | -41.7% |
| Fixed assets | 21/28 | €90,581 | €84,599 | -€5,982 | -6.6% |
| Tangible fixed assets | 22/27 | €90,581 | €84,599 | -€5,982 | -6.6% |
| Furniture and vehicles | 24 | €9,201 | €4,424 | -€4,777 | -51.9% |
| Other tangible fixed assets | 26 | €81,380 | €80,175 | -€1,205 | -1.5% |
| Current assets | 29/58 | €1,167,639 | €649,249 | -€518,391 | -44.4% |
| Amounts receivable within one year | 40/41 | €1,512 | €10,037 | +€8,525 | +564% |
| Trade receivables | 40 | - | €320 | +€320 | |
| Other amounts receivable | 41 | €1,512 | €9,717 | +€8,205 | +543% |
| Current investments | 50/53 | €909,908 | €627,144 | -€282,764 | -31.1% |
| Cash at bank and in hand | 54/58 | €253,802 | €10,476 | -€243,325 | -95.9% |
| Deferred charges and accrued income | 490/1 | €2,418 | €1,591 | -€827 | -34.2% |
| Total equity and liabilities | 10/49 | €1,258,220 | €733,848 | -€524,372 | -41.7% |
| Equity | 10/15 | €1,204,539 | €702,545 | -€501,994 | -41.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,192,139 | €690,145 | -€501,994 | -42.1% |
| Distributable reserves | 133 | €1,192,139 | €690,145 | -€501,994 | -42.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €53,681 | €31,303 | -€22,379 | -41.7% |
| Amounts payable within one year | 42/48 | €51,827 | €30,107 | -€21,720 | -41.9% |
| Trade debts | 44 | €1,389 | €4,311 | +€2,922 | +210% |
| Suppliers | 440/4 | €1,389 | €4,311 | +€2,922 | +210% |
| Taxes, remuneration and social security | 45 | €43,530 | €24,130 | -€19,399 | -44.6% |
| Taxes | 450/3 | €43,530 | €24,130 | -€19,399 | -44.6% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €6,909 | €1,666 | -€5,243 | -75.9% |
| Accrued charges and deferred income | 492/3 | €1,854 | €1,196 | -€658 | -35.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,922 | €5,982 | +€59 | +1.0% |
| Other operating charges | 640/8 | €4,543 | €4,637 | +€94 | +2.1% |
| Gross operating margin | 9900 | €29,675 | €13,006 | -€16,669 | -56.2% |
| Operating profit (loss) | 9901 | €19,210 | €2,388 | -€16,822 | -87.6% |
| Financial income | 75/76B | €74,136 | €69,398 | -€4,738 | -6.4% |
| Recurring financial income | 75 | €74,136 | €69,398 | -€4,738 | -6.4% |
| Financial charges | 65/66B | €4,555 | €641 | -€3,914 | -85.9% |
| Recurring financial charges | 65 | €4,555 | €641 | -€3,914 | -85.9% |
| Profit (loss) for the period before taxes | 9903 | €88,791 | €71,145 | -€17,646 | -19.9% |
| Income taxes | 67/77 | €32,887 | €25,709 | -€7,178 | -21.8% |
| Profit (loss) for the period | 9904 | €55,903 | €45,436 | -€10,468 | -18.7% |
| Profit (loss) for the period to be appropriated | 9905 | €55,903 | €45,436 | -€10,468 | -18.7% |
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 25 October 2026 via checked.be.