DR. D'HOEDT MARC: what changed
DR. D'HOEDT MARC
Largest movements
- Cash -€94,040
down €94,040 (-92.0%), from €102,227 to €8,187
mainly Contributions, distributions and other (-€267,514) and Current investments (-€80,000)
- Current investments +€80,000
up €80,000 (+43.2%), from €185,000 to €265,000
- Tangible fixed assets +€35,687
up €35,687 (+44,703%), from €80 to €35,766
of which Furniture and vehicles: +€35,766
- Receivables within one year -€15,074
down €15,074 (-100%), from €15,074 to €0
- Other debts +€219,174
new in 2025: €219,174
- Reserves -€204,936
down €204,936 (-52.6%), from €389,554 to €184,618
of which Distributable reserves: -€204,936
- Tax, wage and social debts -€12,266
down €12,266 (-63.4%), from €19,353 to €7,087
- Accrued charges and deferred income +€4,378
new in 2025: €4,378
- Gross operating margin +€13,120
up €13,120 (+14.3%), from €91,803 to €104,923
- Financial charges +€4,987
up €4,987 (+3,285%), from €152 to €5,139
- Depreciation +€2,379
up €2,379 (+166%), from €1,434 to €3,813
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 | €428,070 | €434,500 | +€6,430 | +1.5% |
| Fixed assets | 21/28 | €80 | €35,766 | +€35,687 | +44,703% |
| Tangible fixed assets | 22/27 | €80 | €35,766 | +€35,687 | +44,703% |
| Plant, machinery and equipment | 23 | €80 | €0 | -€80 | -100% |
| Furniture and vehicles | 24 | €0 | €35,766 | +€35,766 | |
| Current assets | 29/58 | €427,990 | €398,733 | -€29,257 | -6.8% |
| Amounts receivable within one year | 40/41 | €15,074 | €0 | -€15,074 | -100% |
| Other amounts receivable | 41 | €15,074 | €0 | -€15,074 | -100% |
| Current investments | 50/53 | €185,000 | €265,000 | +€80,000 | +43.2% |
| Cash at bank and in hand | 54/58 | €102,227 | €8,187 | -€94,040 | -92.0% |
| Deferred charges and accrued income | 490/1 | €125,689 | €125,546 | -€143 | -0.1% |
| Total equity and liabilities | 10/49 | €428,070 | €434,500 | +€6,430 | +1.5% |
| Equity | 10/15 | €408,554 | €203,618 | -€204,936 | -50.2% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €389,554 | €184,618 | -€204,936 | -52.6% |
| Non-distributable reserves | 130/1 | €1,900 | €1,900 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,900 | €1,900 | = | 0.0% |
| Distributable reserves | 133 | €387,654 | €182,718 | -€204,936 | -52.9% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €19,516 | €230,881 | +€211,366 | +1,083% |
| Amounts payable within one year | 42/48 | €19,516 | €226,503 | +€206,987 | +1,061% |
| Trade debts | 44 | €163 | €242 | +€79 | +48.5% |
| Suppliers | 440/4 | €163 | €242 | +€79 | +48.5% |
| Taxes, remuneration and social security | 45 | €19,353 | €7,087 | -€12,266 | -63.4% |
| Taxes | 450/3 | €19,353 | €7,087 | -€12,266 | -63.4% |
| Other amounts payable | 47/48 | - | €219,174 | +€219,174 | |
| Accrued charges and deferred income | 492/3 | - | €4,378 | +€4,378 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,434 | €3,813 | +€2,379 | +166% |
| Other operating charges | 640/8 | €1,155 | €1,937 | +€782 | +67.7% |
| Gross operating margin | 9900 | €91,803 | €104,923 | +€13,120 | +14.3% |
| Operating profit (loss) | 9901 | €89,213 | €99,172 | +€9,959 | +11.2% |
| Financial income | 75/76B | €293 | €643 | +€350 | +120% |
| Recurring financial income | 75 | €293 | €643 | +€350 | +120% |
| Financial charges | 65/66B | €152 | €5,139 | +€4,987 | +3,285% |
| Recurring financial charges | 65 | €152 | €5,139 | +€4,987 | +3,285% |
| Profit (loss) for the period before taxes | 9903 | €89,354 | €94,677 | +€5,322 | +6.0% |
| Income taxes | 67/77 | €31,353 | €32,098 | +€745 | +2.4% |
| Profit (loss) for the period | 9904 | €58,001 | €62,579 | +€4,577 | +7.9% |
| Profit (loss) for the period to be appropriated | 9905 | €58,001 | €62,579 | +€4,577 | +7.9% |
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 2 November 2026 via checked.be.