Dr. De Cock: 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. De Cock
Largest movements
- Cash -€244,451
down €244,451 (-37.5%), from €652,641 to €408,190
mainly Contributions, distributions and other (-€428,034) and Other debts (-€15,140)
- Tangible fixed assets -€9,810
down €9,810 (-17.1%), from €57,305 to €47,496
of which Furniture and vehicles: -€16,986
- Reserves -€181,131
down €181,131 (-70.7%), from €256,319 to €75,188
- Profit (loss) carried forward -€67,631
down €67,631 (-17.1%), from €394,959 to €327,328
- Other debts -€15,140
no longer reported in 2025 (was €15,140)
- Tax, wage and social debts +€11,688
up €11,688 (+46.6%), from €25,073 to €36,761
of which Taxes: +€7,113
- Gross operating margin +€42,437
up €42,437 (+20.3%), from €208,876 to €251,313
- Financial income -€7,471
down €7,471 (-91.5%), from €8,161 to €690
- Taxes -€3,752
down €3,752 (-8.1%), from €46,072 to €42,320
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 | €713,406 | €462,995 | -€250,411 | -35.1% |
| Fixed assets | 21/28 | €57,305 | €47,496 | -€9,810 | -17.1% |
| Tangible fixed assets | 22/27 | €57,305 | €47,496 | -€9,810 | -17.1% |
| Land and buildings | 22 | €35,115 | €42,291 | +€7,176 | +20.4% |
| Furniture and vehicles | 24 | €22,190 | €5,205 | -€16,986 | -76.5% |
| Current assets | 29/58 | €656,101 | €415,500 | -€240,601 | -36.7% |
| Amounts receivable within one year | 40/41 | €81 | €5,635 | +€5,554 | +6,857% |
| Other amounts receivable | 41 | €81 | €5,635 | +€5,554 | +6,857% |
| Cash at bank and in hand | 54/58 | €652,641 | €408,190 | -€244,451 | -37.5% |
| Deferred charges and accrued income | 490/1 | €3,379 | €1,675 | -€1,704 | -50.4% |
| Total equity and liabilities | 10/49 | €713,406 | €462,995 | -€250,411 | -35.1% |
| Equity | 10/15 | €669,878 | €421,116 | -€248,762 | -37.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €256,319 | €75,188 | -€181,131 | -70.7% |
| Distributable reserves | 133 | €256,319 | €75,188 | -€181,131 | -70.7% |
| Profit (loss) carried forward | 14 | €394,959 | €327,328 | -€67,631 | -17.1% |
| Amounts payable | 17/49 | €43,529 | €41,879 | -€1,650 | -3.8% |
| Amounts payable within one year | 42/48 | €43,529 | €41,879 | -€1,650 | -3.8% |
| Trade debts | 44 | €3,316 | €5,118 | +€1,802 | +54.3% |
| Suppliers | 440/4 | €3,316 | €5,118 | +€1,802 | +54.3% |
| Taxes, remuneration and social security | 45 | €25,073 | €36,761 | +€11,688 | +46.6% |
| Taxes | 450/3 | €25,073 | €32,186 | +€7,113 | +28.4% |
| Remuneration and social security | 454/9 | - | €4,575 | +€4,575 | |
| Other amounts payable | 47/48 | €15,140 | - | -€15,140 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,309 | €23,126 | +€1,817 | +8.5% |
| Other operating charges | 640/8 | €1,463 | €1,149 | -€315 | -21.5% |
| Non-recurring operating charges | 66A | - | €6,037 | +€6,037 | |
| Gross operating margin | 9900 | €208,876 | €251,313 | +€42,437 | +20.3% |
| Operating profit (loss) | 9901 | €186,104 | €221,002 | +€34,898 | +18.8% |
| Financial income | 75/76B | €8,161 | €690 | -€7,471 | -91.5% |
| Recurring financial income | 75 | €8,161 | €690 | -€7,471 | -91.5% |
| Financial charges | 65/66B | €137 | €99 | -€38 | -27.6% |
| Recurring financial charges | 65 | €137 | €99 | -€38 | -27.6% |
| Profit (loss) for the period before taxes | 9903 | €194,127 | €221,593 | +€27,466 | +14.1% |
| Income taxes | 67/77 | €46,072 | €42,320 | -€3,752 | -8.1% |
| Profit (loss) for the period | 9904 | €148,056 | €179,273 | +€31,217 | +21.1% |
| Profit (loss) for the period to be appropriated | 9905 | €148,056 | €179,273 | +€31,217 | +21.1% |
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 29 October 2026 via checked.be.