DOKTER PETER VORLAT: 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 PETER VORLAT
Largest movements
- Current investments +€134,548
up €134,548 (+88.4%), from €152,223 to €286,771
- Receivables within one year +€12,507
up €12,507 (+5.6%), from €223,244 to €235,751
of which Other amounts receivable: +€12,906
- Tangible fixed assets -€11,994
down €11,994 (-12.2%), from €97,956 to €85,962
of which Leasing and similar rights: -€12,943
- Other debts +€104,753
up €104,753 (+27.0%), from €387,464 to €492,216
- Reserves +€35,566
up €35,566 (+7.6%), from €466,952 to €502,518
of which Distributable reserves: +€35,566
- Debts after one year -€12,186
down €12,186 (-37.5%), from €32,496 to €20,310
- Depreciation +€27,731
up €27,731 (+23.1%), from €120,269 to €148,000
- Financial income +€26,336
up €26,336 (+9,652%), from €273 to €26,609
- Gross operating margin -€20,573
down €20,573 (-5.8%), from €355,763 to €335,191
- Taxes -€9,952
down €9,952 (-16.2%), from €61,332 to €51,381
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 | €929,137 | €1,057,702 | +€128,565 | +13.8% |
| Fixed assets | 21/28 | €481,909 | €464,328 | -€17,580 | -3.6% |
| Intangible fixed assets | 21 | €383,153 | €377,566 | -€5,586 | -1.5% |
| Tangible fixed assets | 22/27 | €97,956 | €85,962 | -€11,994 | -12.2% |
| Furniture and vehicles | 24 | €3,648 | €1,919 | -€1,729 | -47.4% |
| Leasing and similar rights | 25 | €48,321 | €35,378 | -€12,943 | -26.8% |
| Other tangible fixed assets | 26 | €45,987 | €48,665 | +€2,679 | +5.8% |
| Financial fixed assets | 28 | €800 | €800 | = | 0.0% |
| Current assets | 29/58 | €447,228 | €593,373 | +€146,145 | +32.7% |
| Amounts receivable within one year | 40/41 | €223,244 | €235,751 | +€12,507 | +5.6% |
| Trade receivables | 40 | €399 | - | -€399 | |
| Other amounts receivable | 41 | €222,845 | €235,751 | +€12,906 | +5.8% |
| Current investments | 50/53 | €152,223 | €286,771 | +€134,548 | +88.4% |
| Cash at bank and in hand | 54/58 | €70,005 | €65,279 | -€4,727 | -6.8% |
| Deferred charges and accrued income | 490/1 | €1,756 | €5,572 | +€3,816 | +217% |
| Total equity and liabilities | 10/49 | €929,137 | €1,057,702 | +€128,565 | +13.8% |
| Equity | 10/15 | €485,552 | €521,118 | +€35,566 | +7.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €466,952 | €502,518 | +€35,566 | +7.6% |
| Tax-exempt reserves | 132 | €201 | €201 | = | 0.0% |
| Distributable reserves | 133 | €466,751 | €502,317 | +€35,566 | +7.6% |
| Amounts payable | 17/49 | €443,585 | €536,584 | +€92,999 | +21.0% |
| Amounts payable after more than one year | 17 | €32,496 | €20,310 | -€12,186 | -37.5% |
| Financial debts | 170/4 | €32,496 | €20,310 | -€12,186 | -37.5% |
| Amounts payable within one year | 42/48 | €411,089 | €516,176 | +€105,087 | +25.6% |
| Current portion of amounts payable after more than one year | 42 | €12,186 | €12,186 | = | 0.0% |
| Trade debts | 44 | €739 | €3,663 | +€2,924 | +395% |
| Suppliers | 440/4 | €739 | €3,663 | +€2,924 | +395% |
| Taxes, remuneration and social security | 45 | €10,701 | €8,111 | -€2,589 | -24.2% |
| Taxes | 450/3 | €10,701 | €8,111 | -€2,589 | -24.2% |
| Other amounts payable | 47/48 | €387,464 | €492,216 | +€104,753 | +27.0% |
| Accrued charges and deferred income | 492/3 | - | €98 | +€98 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €120,269 | €148,000 | +€27,731 | +23.1% |
| Other operating charges | 640/8 | €3,909 | €831 | -€3,078 | -78.7% |
| Gross operating margin | 9900 | €355,763 | €335,191 | -€20,573 | -5.8% |
| Operating profit (loss) | 9901 | €231,585 | €186,360 | -€45,225 | -19.5% |
| Financial income | 75/76B | €273 | €26,609 | +€26,336 | +9,652% |
| Recurring financial income | 75 | €273 | €26,609 | +€26,336 | +9,652% |
| Financial charges | 65/66B | €25,784 | €28,244 | +€2,460 | +9.5% |
| Recurring financial charges | 65 | €25,784 | €28,244 | +€2,460 | +9.5% |
| Profit (loss) for the period before taxes | 9903 | €206,074 | €184,725 | -€21,349 | -10.4% |
| Income taxes | 67/77 | €61,332 | €51,381 | -€9,952 | -16.2% |
| Profit (loss) for the period | 9904 | €144,742 | €133,344 | -€11,398 | -7.9% |
| Profit (loss) for the period to be appropriated | 9905 | €144,742 | €133,344 | -€11,398 | -7.9% |
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 24 October 2026 via checked.be.