Dr. Boudewijn De Paepe: what changed
Dr. Boudewijn De Paepe
Largest movements
- Receivables within one year +€10,000
up €10,000 (+8.4%), from €119,393 to €129,393
- Deferred charges and accrued income -€9,295
down €9,295 (-87.9%), from €10,571 to €1,276
- Cash +€5,715
up €5,715 (+8.4%), from €68,034 to €73,749
mainly Net result for the year (+€247,356) and Other debts (+€31,800)
- Reserves -€49,644
down €49,644 (-96.2%), from €51,579 to €1,935
- Other debts +€31,800
up €31,800 (+21.9%), from €145,021 to €176,821
- Tax, wage and social debts +€26,089
up €26,089 (+11,082%), from €235 to €26,324
- Gross operating margin +€73,710
up €73,710 (+29.2%), from €252,818 to €326,528
- Taxes +€17,456
up €17,456 (+28.9%), from €60,333 to €77,789
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €200,536 | €207,146 | +€6,610 | +3.3% |
| Fixed assets | 21/28 | €2,539 | €2,729 | +€190 | +7.5% |
| Tangible fixed assets | 22/27 | €2,539 | €2,729 | +€190 | +7.5% |
| Furniture and vehicles | 24 | €2,539 | €2,729 | +€190 | +7.5% |
| Current assets | 29/58 | €197,998 | €204,418 | +€6,420 | +3.2% |
| Amounts receivable within one year | 40/41 | €119,393 | €129,393 | +€10,000 | +8.4% |
| Other amounts receivable | 41 | €119,393 | €129,393 | +€10,000 | +8.4% |
| Cash at bank and in hand | 54/58 | €68,034 | €73,749 | +€5,715 | +8.4% |
| Deferred charges and accrued income | 490/1 | €10,571 | €1,276 | -€9,295 | -87.9% |
| Total equity and liabilities | 10/49 | €200,536 | €207,146 | +€6,610 | +3.3% |
| Equity | 10/15 | €53,079 | €3,435 | -€49,644 | -93.5% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €51,579 | €1,935 | -€49,644 | -96.2% |
| Distributable reserves | 133 | €51,579 | €1,935 | -€49,644 | -96.2% |
| Amounts payable | 17/49 | €147,458 | €203,712 | +€56,254 | +38.1% |
| Amounts payable within one year | 42/48 | €147,458 | €203,712 | +€56,254 | +38.1% |
| Trade debts | 44 | €2,202 | €567 | -€1,635 | -74.3% |
| Suppliers | 440/4 | €2,202 | €567 | -€1,635 | -74.3% |
| Taxes, remuneration and social security | 45 | €235 | €26,324 | +€26,089 | +11,082% |
| Taxes | 450/3 | €235 | €26,324 | +€26,089 | +11,082% |
| Other amounts payable | 47/48 | €145,021 | €176,821 | +€31,800 | +21.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €466 | €769 | +€303 | +65.0% |
| Other operating charges | 640/8 | €1,025 | €700 | -€324 | -31.6% |
| Gross operating margin | 9900 | €252,818 | €326,528 | +€73,710 | +29.2% |
| Operating profit (loss) | 9901 | €251,328 | €325,059 | +€73,731 | +29.3% |
| Financial income | 75/76B | €326 | €0 | -€326 | -99.9% |
| Recurring financial income | 75 | €326 | €0 | -€326 | -99.9% |
| Financial charges | 65/66B | €425 | -€86 | -€510 | |
| Recurring financial charges | 65 | €425 | -€86 | -€510 | |
| Profit (loss) for the period before taxes | 9903 | €251,229 | €325,145 | +€73,916 | +29.4% |
| Income taxes | 67/77 | €60,333 | €77,789 | +€17,456 | +28.9% |
| Profit (loss) for the period | 9904 | €190,896 | €247,356 | +€56,460 | +29.6% |
| Profit (loss) for the period to be appropriated | 9905 | €190,896 | €247,356 | +€56,460 | +29.6% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.