DOKTER SMANS: 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 SMANS
Largest movements
- Cash +€49,426
up €49,426 (+323%), from €15,299 to €64,726
mainly Net result for the year (+€56,609) and Current investments (+€19,320)
- Current investments -€19,320
down €19,320 (-5.0%), from €385,351 to €366,031
- Receivables within one year -€13,000
no longer reported in 2025 (was €13,000)
- Reserves +€25,030
up €25,030 (+5.9%), from €421,669 to €446,700
- Other debts -€6,573
down €6,573 (-41.2%), from €15,971 to €9,398
- Tax, wage and social debts -€5,347
down €5,347 (-39.4%), from €13,570 to €8,223
- Depreciation +€6,532
up €6,532 (+89.8%), from €7,270 to €13,802
- Gross operating margin +€4,587
up €4,587 (+4.8%), from €94,883 to €99,471
- Financial charges +€1,632
up €1,632 (+534%), from €306 to €1,937
of which Non-recurring financial charges: +€1,498
- Taxes +€1,339
up €1,339 (+4.7%), from €28,521 to €29,860
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 | €451,289 | €464,397 | +€13,108 | +2.9% |
| Fixed assets | 21/28 | €36,640 | €33,338 | -€3,302 | -9.0% |
| Tangible fixed assets | 22/27 | €36,640 | €33,338 | -€3,302 | -9.0% |
| Furniture and vehicles | 24 | €36,640 | €33,338 | -€3,302 | -9.0% |
| Current assets | 29/58 | €414,649 | €431,059 | +€16,410 | +4.0% |
| Amounts receivable within one year | 40/41 | €13,000 | - | -€13,000 | |
| Trade receivables | 40 | €13,000 | - | -€13,000 | |
| Current investments | 50/53 | €385,351 | €366,031 | -€19,320 | -5.0% |
| Cash at bank and in hand | 54/58 | €15,299 | €64,726 | +€49,426 | +323% |
| Deferred charges and accrued income | 490/1 | €999 | €303 | -€696 | -69.7% |
| Total equity and liabilities | 10/49 | €451,289 | €464,397 | +€13,108 | +2.9% |
| Equity | 10/15 | €421,669 | €446,700 | +€25,030 | +5.9% |
| Reserves | 13 | €421,669 | €446,700 | +€25,030 | +5.9% |
| Distributable reserves | 133 | €421,669 | €446,700 | +€25,030 | +5.9% |
| Amounts payable | 17/49 | €29,620 | €17,697 | -€11,922 | -40.3% |
| Amounts payable within one year | 42/48 | €29,620 | €17,697 | -€11,922 | -40.3% |
| Trade debts | 44 | €79 | €76 | -€3 | -3.8% |
| Suppliers | 440/4 | €79 | €76 | -€3 | -3.8% |
| Taxes, remuneration and social security | 45 | €13,570 | €8,223 | -€5,347 | -39.4% |
| Taxes | 450/3 | €13,570 | €8,223 | -€5,347 | -39.4% |
| Other amounts payable | 47/48 | €15,971 | €9,398 | -€6,573 | -41.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,270 | €13,802 | +€6,532 | +89.8% |
| Other operating charges | 640/8 | €1,897 | €1,244 | -€653 | -34.4% |
| Gross operating margin | 9900 | €94,883 | €99,471 | +€4,587 | +4.8% |
| Operating profit (loss) | 9901 | €85,716 | €84,425 | -€1,291 | -1.5% |
| Financial income | 75/76B | €3,453 | €3,982 | +€529 | +15.3% |
| Recurring financial income | 75 | €3,453 | €3,982 | +€529 | +15.3% |
| Financial charges | 65/66B | €306 | €1,937 | +€1,632 | +534% |
| Recurring financial charges | 65 | €306 | €439 | +€134 | +43.7% |
| Non-recurring financial charges | 66B | - | €1,498 | +€1,498 | |
| Profit (loss) for the period before taxes | 9903 | €88,863 | €86,469 | -€2,394 | -2.7% |
| Income taxes | 67/77 | €28,521 | €29,860 | +€1,339 | +4.7% |
| Profit (loss) for the period | 9904 | €60,343 | €56,609 | -€3,733 | -6.2% |
| Profit (loss) for the period to be appropriated | 9905 | €60,343 | €56,609 | -€3,733 | -6.2% |
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 23 October 2026 via checked.be.