Dokter Siebe Michielsen: 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 Siebe Michielsen
Largest movements
- Receivables after one year -€45,000
no longer reported in 2025 (was €45,000)
- Deferred charges and accrued income +€36,119
up €36,119 (+1,235%), from €2,924 to €39,043
- Cash -€32,644
down €32,644 (-22.3%), from €146,497 to €113,853
mainly Contributions, distributions and other (-€279,745) and Deferred charges and accrued income (-€36,119)
- Reserves -€155,408
no longer reported in 2025 (was €155,408)
- Other debts +€124,337
new in 2025: €124,337
- Tax, wage and social debts -€12,540
down €12,540 (-30.8%), from €40,657 to €28,117
- Trade debts +€3,377
new in 2025: €3,377
- Gross operating margin +€39,686
up €39,686 (+35.6%), from €111,408 to €151,094
- Taxes +€2,871
up €2,871 (+11.8%), from €24,373 to €27,244
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 | €196,165 | €155,930 | -€40,234 | -20.5% |
| Current assets | 29/58 | €196,165 | €155,930 | -€40,234 | -20.5% |
| Amounts receivable after more than one year | 29 | €45,000 | - | -€45,000 | |
| Other amounts receivable | 291 | €45,000 | - | -€45,000 | |
| Amounts receivable within one year | 40/41 | €1,744 | €3,035 | +€1,291 | +74.0% |
| Other amounts receivable | 41 | €1,744 | €3,035 | +€1,291 | +74.0% |
| Cash at bank and in hand | 54/58 | €146,497 | €113,853 | -€32,644 | -22.3% |
| Deferred charges and accrued income | 490/1 | €2,924 | €39,043 | +€36,119 | +1,235% |
| Total equity and liabilities | 10/49 | €196,165 | €155,930 | -€40,234 | -20.5% |
| Equity | 10/15 | €155,508 | €100 | -€155,408 | -99.9% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €155,408 | - | -€155,408 | |
| Distributable reserves | 133 | €155,408 | - | -€155,408 | |
| Amounts payable | 17/49 | €40,657 | €155,830 | +€115,174 | +283% |
| Amounts payable within one year | 42/48 | €40,657 | €155,830 | +€115,174 | +283% |
| Trade debts | 44 | - | €3,377 | +€3,377 | |
| Suppliers | 440/4 | - | €3,377 | +€3,377 | |
| Taxes, remuneration and social security | 45 | €40,657 | €28,117 | -€12,540 | -30.8% |
| Taxes | 450/3 | €40,657 | €28,117 | -€12,540 | -30.8% |
| Other amounts payable | 47/48 | - | €124,337 | +€124,337 | |
| Other operating charges | 640/8 | €370 | €217 | -€153 | -41.3% |
| Gross operating margin | 9900 | €111,408 | €151,094 | +€39,686 | +35.6% |
| Operating profit (loss) | 9901 | €111,038 | €150,877 | +€39,839 | +35.9% |
| Financial income | 75/76B | €1,013 | €757 | -€255 | -25.2% |
| Recurring financial income | 75 | €1,013 | €757 | -€255 | -25.2% |
| Financial charges | 65/66B | €54 | €53 | -€1 | -1.2% |
| Recurring financial charges | 65 | €54 | €53 | -€1 | -1.2% |
| Profit (loss) for the period before taxes | 9903 | €111,997 | €151,581 | +€39,584 | +35.3% |
| Income taxes | 67/77 | €24,373 | €27,244 | +€2,871 | +11.8% |
| Profit (loss) for the period | 9904 | €87,624 | €124,337 | +€36,713 | +41.9% |
| Profit (loss) for the period to be appropriated | 9905 | €87,624 | €124,337 | +€36,713 | +41.9% |
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 31 October 2026 via checked.be.