Dr. Bouckaert: 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.
Dr. Bouckaert
Largest movements
- Current investments -€527,725
down €527,725 (-87.8%), from €601,131 to €73,406
- Receivables within one year -€21,281
down €21,281 (-26.1%), from €81,647 to €60,366
- Tangible fixed assets -€11,819
down €11,819 (-87.3%), from €13,532 to €1,713
of which Furniture and vehicles: -€11,559
- Reserves -€479,863
down €479,863 (-65.7%), from €730,711 to €250,847
- Other debts -€74,387
down €74,387 (-27.4%), from €271,232 to €196,845
- Gross operating margin -€21,326
down €21,326 (-9.6%), from €222,532 to €201,206
- Financial income +€8,167
up €8,167 (+70.7%), from €11,546 to €19,713
- Taxes -€3,453
down €3,453 (-6.8%), from €50,756 to €47,303
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 | €1,037,652 | €479,831 | -€557,821 | -53.8% |
| Fixed assets | 21/28 | €13,532 | €1,713 | -€11,819 | -87.3% |
| Tangible fixed assets | 22/27 | €13,532 | €1,713 | -€11,819 | -87.3% |
| Plant, machinery and equipment | 23 | €1,043 | €783 | -€260 | -24.9% |
| Furniture and vehicles | 24 | €12,489 | €930 | -€11,559 | -92.6% |
| Current assets | 29/58 | €1,024,119 | €478,118 | -€546,002 | -53.3% |
| Amounts receivable within one year | 40/41 | €81,647 | €60,366 | -€21,281 | -26.1% |
| Trade receivables | 40 | €81,647 | €60,366 | -€21,281 | -26.1% |
| Current investments | 50/53 | €601,131 | €73,406 | -€527,725 | -87.8% |
| Cash at bank and in hand | 54/58 | €335,917 | €343,416 | +€7,499 | +2.2% |
| Deferred charges and accrued income | 490/1 | €5,425 | €930 | -€4,496 | -82.9% |
| Total equity and liabilities | 10/49 | €1,037,652 | €479,831 | -€557,821 | -53.8% |
| Equity | 10/15 | €749,311 | €269,447 | -€479,863 | -64.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €730,711 | €250,847 | -€479,863 | -65.7% |
| Distributable reserves | 133 | €730,711 | €250,847 | -€479,863 | -65.7% |
| Amounts payable | 17/49 | €288,341 | €210,383 | -€77,958 | -27.0% |
| Amounts payable within one year | 42/48 | €283,721 | €206,203 | -€77,518 | -27.3% |
| Trade debts | 44 | €1,645 | €843 | -€802 | -48.7% |
| Suppliers | 440/4 | €1,645 | €843 | -€802 | -48.7% |
| Taxes, remuneration and social security | 45 | €10,844 | €8,515 | -€2,329 | -21.5% |
| Taxes | 450/3 | €7,757 | €5,306 | -€2,452 | -31.6% |
| Remuneration and social security | 454/9 | €3,087 | €3,210 | +€123 | +4.0% |
| Other amounts payable | 47/48 | €271,232 | €196,845 | -€74,387 | -27.4% |
| Accrued charges and deferred income | 492/3 | €4,620 | €4,180 | -€440 | -9.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,140 | €11,819 | -€321 | -2.6% |
| Other operating charges | 640/8 | €451 | €1,064 | +€613 | +136% |
| Gross operating margin | 9900 | €222,532 | €201,206 | -€21,326 | -9.6% |
| Operating profit (loss) | 9901 | €209,940 | €188,322 | -€21,618 | -10.3% |
| Financial income | 75/76B | €11,546 | €19,713 | +€8,167 | +70.7% |
| Recurring financial income | 75 | €11,546 | €19,713 | +€8,167 | +70.7% |
| Financial charges | 65/66B | €243 | €470 | +€226 | +92.9% |
| Recurring financial charges | 65 | €243 | €470 | +€226 | +92.9% |
| Profit (loss) for the period before taxes | 9903 | €221,243 | €207,566 | -€13,677 | -6.2% |
| Income taxes | 67/77 | €50,756 | €47,303 | -€3,453 | -6.8% |
| Profit (loss) for the period | 9904 | €170,487 | €160,263 | -€10,224 | -6.0% |
| Profit (loss) for the period to be appropriated | 9905 | €170,487 | €160,263 | -€10,224 | -6.0% |
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 15 October 2026 via checked.be.