Dr. Box Margriet: 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. Box Margriet
Largest movements
- Current investments +€75,000
new in 2025: €75,000
- Intangible fixed assets -€25,667
no longer reported in 2025 (was €25,667)
- Receivables within one year -€9,159
down €9,159 (-24.3%), from €37,749 to €28,591
of which Trade receivables: -€8,767
- Cash +€8,204
up €8,204 (+5.9%), from €138,516 to €146,720
mainly Net result for the year (+€51,521) and Depreciation (+€28,106)
- Reserves +€51,521
up €51,521 (+39.1%), from €131,929 to €183,450
- Tax, wage and social debts +€5,831
up €5,831 (+67.5%), from €8,633 to €14,464
of which Taxes: +€5,831
- Other debts -€5,711
down €5,711 (-10.3%), from €55,287 to €49,576
- Trade debts -€3,074
down €3,074 (-50.1%), from €6,135 to €3,061
- Gross operating margin +€6,797
up €6,797 (+6.8%), from €99,549 to €106,346
- Depreciation -€2,333
down €2,333 (-7.7%), from €30,439 to €28,106
- Taxes +€2,198
up €2,198 (+11.5%), from €19,133 to €21,331
- Financial charges -€1,576
down €1,576 (-27.8%), from €5,670 to €4,094
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 | €226,099 | €272,825 | +€46,727 | +20.7% |
| Fixed assets | 21/28 | €46,814 | €18,708 | -€28,106 | -60.0% |
| Intangible fixed assets | 21 | €25,667 | - | -€25,667 | |
| Tangible fixed assets | 22/27 | €20,147 | €17,708 | -€2,439 | -12.1% |
| Land and buildings | 22 | €19,113 | €17,585 | -€1,528 | -8.0% |
| Furniture and vehicles | 24 | €1,034 | €122 | -€911 | -88.2% |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €179,285 | €254,118 | +€74,833 | +41.7% |
| Amounts receivable within one year | 40/41 | €37,749 | €28,591 | -€9,159 | -24.3% |
| Trade receivables | 40 | €32,638 | €23,871 | -€8,767 | -26.9% |
| Other amounts receivable | 41 | €5,112 | €4,720 | -€392 | -7.7% |
| Current investments | 50/53 | - | €75,000 | +€75,000 | |
| Cash at bank and in hand | 54/58 | €138,516 | €146,720 | +€8,204 | +5.9% |
| Deferred charges and accrued income | 490/1 | €3,020 | €3,807 | +€788 | +26.1% |
| Total equity and liabilities | 10/49 | €226,099 | €272,825 | +€46,727 | +20.7% |
| Equity | 10/15 | €150,529 | €202,050 | +€51,521 | +34.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €131,929 | €183,450 | +€51,521 | +39.1% |
| Distributable reserves | 133 | €131,929 | €183,450 | +€51,521 | +39.1% |
| Amounts payable | 17/49 | €75,569 | €70,775 | -€4,795 | -6.3% |
| Amounts payable within one year | 42/48 | €70,055 | €67,100 | -€2,955 | -4.2% |
| Trade debts | 44 | €6,135 | €3,061 | -€3,074 | -50.1% |
| Suppliers | 440/4 | €6,135 | €3,061 | -€3,074 | -50.1% |
| Taxes, remuneration and social security | 45 | €8,633 | €14,464 | +€5,831 | +67.5% |
| Taxes | 450/3 | €6,633 | €12,464 | +€5,831 | +87.9% |
| Remuneration and social security | 454/9 | €2,000 | €2,000 | = | 0.0% |
| Other amounts payable | 47/48 | €55,287 | €49,576 | -€5,711 | -10.3% |
| Accrued charges and deferred income | 492/3 | €5,514 | €3,674 | -€1,840 | -33.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,439 | €28,106 | -€2,333 | -7.7% |
| Other operating charges | 640/8 | €1,593 | €1,447 | -€146 | -9.2% |
| Gross operating margin | 9900 | €99,549 | €106,346 | +€6,797 | +6.8% |
| Operating profit (loss) | 9901 | €67,517 | €76,793 | +€9,276 | +13.7% |
| Financial income | 75/76B | €31 | €153 | +€123 | +402% |
| Recurring financial income | 75 | €31 | €153 | +€123 | +402% |
| Financial charges | 65/66B | €5,670 | €4,094 | -€1,576 | -27.8% |
| Recurring financial charges | 65 | €5,670 | €4,094 | -€1,576 | -27.8% |
| Profit (loss) for the period before taxes | 9903 | €61,877 | €72,852 | +€10,975 | +17.7% |
| Income taxes | 67/77 | €19,133 | €21,331 | +€2,198 | +11.5% |
| Profit (loss) for the period | 9904 | €42,745 | €51,521 | +€8,777 | +20.5% |
| Profit (loss) for the period to be appropriated | 9905 | €42,745 | €51,521 | +€8,777 | +20.5% |
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 25 October 2026 via checked.be.