Dr. Bourgeois: 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. Bourgeois
Largest movements
No asset line moved by more than 1% of the balance sheet total.
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin -€751
down €751 (-14.7%), from €5,102 to €4,351
- Other operating charges +€88
up €88 (+3.0%), from €2,883 to €2,971
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €280,870 | €280,014 | -€856 | -0.3% |
| Fixed assets | 21/28 | €280,870 | €280,014 | -€856 | -0.3% |
| Tangible fixed assets | 22/27 | €280,870 | €280,014 | -€856 | -0.3% |
| Land and buildings | 22 | €199,970 | €199,114 | -€856 | -0.4% |
| Plant, machinery and equipment | 23 | €53,750 | €53,750 | = | 0.0% |
| Other tangible fixed assets | 26 | €27,150 | €27,150 | = | 0.0% |
| Total equity and liabilities | 10/49 | €280,870 | €280,014 | -€856 | -0.3% |
| Equity | 10/15 | €163,191 | €163,626 | +€435 | +0.3% |
| Contributions | 10/11 | €18,593 | €18,593 | = | 0.0% |
| Revaluation surpluses | 12 | €175,000 | €175,000 | = | 0.0% |
| Reserves | 13 | €15,954 | €15,954 | = | 0.0% |
| Distributable reserves | 133 | €15,954 | €15,954 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€46,356 | -€45,920 | +€435 | +0.9% |
| Amounts payable | 17/49 | €117,679 | €116,387 | -€1,292 | -1.1% |
| Amounts payable within one year | 42/48 | €117,679 | €116,387 | -€1,292 | -1.1% |
| Trade debts | 44 | €385 | €30 | -€355 | -92.2% |
| Suppliers | 440/4 | €385 | €30 | -€355 | -92.2% |
| Taxes, remuneration and social security | 45 | €85 | €174 | +€88 | +104% |
| Taxes | 450/3 | €85 | €174 | +€88 | +104% |
| Other amounts payable | 47/48 | €117,208 | €116,184 | -€1,025 | -0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €856 | €856 | = | 0.0% |
| Other operating charges | 640/8 | €2,883 | €2,971 | +€88 | +3.0% |
| Gross operating margin | 9900 | €5,102 | €4,351 | -€751 | -14.7% |
| Operating profit (loss) | 9901 | €1,362 | €524 | -€839 | -61.6% |
| Profit (loss) for the period before taxes | 9903 | €1,362 | €524 | -€839 | -61.6% |
| Income taxes | 67/77 | €85 | €88 | +€3 | +3.6% |
| Profit (loss) for the period | 9904 | €1,277 | €435 | -€842 | -65.9% |
| Profit (loss) for the period to be appropriated | 9905 | €1,277 | €435 | -€842 | -65.9% |
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 13 October 2026 via checked.be.