DR. DE VOS AXEL: 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.
What changed
DR. DE VOS AXEL
NACE 86.210, General medical practice
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€100,480
2024 · €69,105+€31,374
Equity
€737,688
2024 · €702,142+€35,546
Cash
€16,025
2024 · €18,331-€2,306
Balance sheet total
€2.8m
2024 · €2.7m+€137,516
Largest movements
Assets
- Receivables within one year +€171,905
up €171,905 (+822%), from €20,921 to €192,825
of which Other amounts receivable: +€170,485
- Tangible fixed assets -€58,098
down €58,098 (-2.2%), from €2.6m to €2.5m
of which Land and buildings: -€76,663
- Current investments +€30,461
up €30,461 (+76.1%), from €40,042 to €70,503
Equity and liabilities
- Other debts +€48,249
up €48,249 (+274%), from €17,605 to €65,854
- Debts after one year +€36,118
up €36,118 (+2.2%), from €1.6m to €1.7m
of which Financial debts: +€36,118
- Reserves +€35,546
up €35,546 (+5.2%), from €677,142 to €712,688
of which Distributable reserves: +€38,578
Income statement
- Depreciation -€83,148
down €83,148 (-37.8%), from €220,042 to €136,894
- Taxes +€51,924
up €51,924 (+5,387%), from €964 to €52,888
- Gross operating margin -€21,161
down €21,161 (-4.7%), from €445,819 to €424,659
- Financial charges +€5,333
up €5,333 (+7.5%), from €71,231 to €76,564
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.
Result 2024
€69,105
Gross operating margin
-€21,161
Staff costs
-€925
Depreciation
+€83,148
Other operating charges
+€2,199
Financial income
+€109
Financial charges
-€5,333
Taxes
-€51,924
Deferred taxes and other
+€25,262
Result 2025
€100,480
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€137,586
Investment
-€108,918
Financing
-€30,975
Cash 2024
€18,331
From operations (derived)
+€137,586
Net result for the year
+€100,480
Depreciation
+€136,894
Receivables within one year
-€171,905
Deferred charges and accrued income
+€4,106
Provisions
-€1,010
Trade debts
+€19,476
Tax, wage and social debts
+€10,196
Other debts
+€48,249
Accrued charges and deferred income
-€8,899
Investment (derived)
-€108,918
Investment in fixed assets (net)
-€78,456
Current investments
-€30,461
Financing
-€30,975
Debts after one year
+€36,118
Current portion of long-term debt
-€7,233
Short-term financial debts
+€5,073
Contributions, distributions and other
-€64,933
Cash 2025
€16,025
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,706,704 | €2,844,221 | +€137,516 | +5.1% |
| Fixed assets | 21/28 | €2,597,256 | €2,538,818 | -€58,438 | -2.2% |
| Tangible fixed assets | 22/27 | €2,595,150 | €2,537,053 | -€58,098 | -2.2% |
| Land and buildings | 22 | €2,571,484 | €2,494,821 | -€76,663 | -3.0% |
| Plant, machinery and equipment | 23 | €10,773 | €8,651 | -€2,122 | -19.7% |
| Furniture and vehicles | 24 | €2,268 | €18,855 | +€16,587 | +731% |
| Other tangible fixed assets | 26 | €10,626 | €14,726 | +€4,100 | +38.6% |
| Financial fixed assets | 28 | €2,106 | €1,766 | -€340 | -16.1% |
| Current assets | 29/58 | €109,448 | €305,402 | +€195,954 | +179% |
| Amounts receivable within one year | 40/41 | €20,921 | €192,825 | +€171,905 | +822% |
| Trade receivables | 40 | €6,863 | €8,282 | +€1,420 | +20.7% |
| Other amounts receivable | 41 | €14,058 | €184,543 | +€170,485 | +1,213% |
| Current investments | 50/53 | €40,042 | €70,503 | +€30,461 | +76.1% |
| Cash at bank and in hand | 54/58 | €18,331 | €16,025 | -€2,306 | -12.6% |
| Deferred charges and accrued income | 490/1 | €30,154 | €26,049 | -€4,106 | -13.6% |
| Total equity and liabilities | 10/49 | €2,706,704 | €2,844,221 | +€137,516 | +5.1% |
| Equity | 10/15 | €702,142 | €737,688 | +€35,546 | +5.1% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €677,142 | €712,688 | +€35,546 | +5.2% |
| Tax-exempt reserves | 132 | €110,254 | €107,222 | -€3,031 | -2.7% |
| Distributable reserves | 133 | €566,888 | €605,466 | +€38,578 | +6.8% |
| Provisions and deferred taxes | 16 | €24,251 | €23,241 | -€1,010 | -4.2% |
| Deferred taxes | 168 | €24,251 | €23,241 | -€1,010 | -4.2% |
| Amounts payable | 17/49 | €1,980,311 | €2,083,291 | +€102,980 | +5.2% |
| Amounts payable after more than one year | 17 | €1,646,071 | €1,682,189 | +€36,118 | +2.2% |
| Financial debts | 170/4 | €1,458,071 | €1,494,189 | +€36,118 | +2.5% |
| Other amounts payable | 178/9 | €188,000 | €188,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €250,974 | €326,735 | +€75,761 | +30.2% |
| Current portion of amounts payable after more than one year | 42 | €217,261 | €210,028 | -€7,233 | -3.3% |
| Financial debts | 43 | €5,090 | €10,163 | +€5,073 | +99.7% |
| Credit institutions | 430/8 | €5,090 | €10,163 | +€5,073 | +99.7% |
| Trade debts | 44 | €4,283 | €23,760 | +€19,476 | +455% |
| Suppliers | 440/4 | €4,283 | €23,760 | +€19,476 | +455% |
| Taxes, remuneration and social security | 45 | €6,734 | €16,930 | +€10,196 | +151% |
| Taxes | 450/3 | - | €10,351 | +€10,351 | |
| Remuneration and social security | 454/9 | €6,734 | €6,579 | -€155 | -2.3% |
| Other amounts payable | 47/48 | €17,605 | €65,854 | +€48,249 | +274% |
| Accrued charges and deferred income | 492/3 | €83,266 | €74,367 | -€8,899 | -10.7% |
| Non-recurring operating income | 76A | €4,090 | - | -€4,090 | |
| Remuneration, social security and pensions | 62 | €44,006 | €44,931 | +€925 | +2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €220,042 | €136,894 | -€83,148 | -37.8% |
| Other operating charges | 640/8 | €16,383 | €14,184 | -€2,199 | -13.4% |
| Gross operating margin | 9900 | €445,819 | €424,659 | -€21,161 | -4.7% |
| Operating profit (loss) | 9901 | €165,388 | €228,649 | +€63,261 | +38.2% |
| Financial income | 75/76B | €163 | €272 | +€109 | +66.5% |
| Recurring financial income | 75 | €163 | €272 | +€109 | +66.5% |
| Financial charges | 65/66B | €71,231 | €76,564 | +€5,333 | +7.5% |
| Recurring financial charges | 65 | €71,231 | €76,564 | +€5,333 | +7.5% |
| Profit (loss) for the period before taxes | 9903 | €94,320 | €152,357 | +€58,037 | +61.5% |
| Transfer from deferred taxes | 780 | €1,010 | €1,010 | = | 0.0% |
| Transfer to deferred taxes | 680 | €25,262 | - | -€25,262 | |
| Income taxes | 67/77 | €964 | €52,888 | +€51,924 | +5,387% |
| Profit (loss) for the period | 9904 | €69,105 | €100,480 | +€31,374 | +45.4% |
| Transfer from tax-exempt reserves | 789 | €3,031 | €3,031 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | €75,785 | - | -€75,785 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,649 | €103,511 | +€107,160 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.