Dr. Duchateau: 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. Duchateau
Largest movements
- Receivables within one year +€61,074
up €61,074 (+26.7%), from €228,503 to €289,577
- Reserves +€65,027
up €65,027 (+5.9%), from €1.1m to €1.2m
of which Distributable reserves: +€65,027
- Gross operating margin -€46,081
down €46,081 (-41.5%), from €110,939 to €64,859
- Taxes -€14,825
down €14,825 (-32.2%), from €45,977 to €31,152
- Financial income +€3,609
up €3,609 (+9.5%), from €37,828 to €41,437
- Other operating charges +€1,816
up €1,816 (+89.8%), from €2,024 to €3,840
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 | €1,145,451 | €1,205,395 | +€59,944 | +5.2% |
| Fixed assets | 21/28 | €16,676 | €12,196 | -€4,480 | -26.9% |
| Tangible fixed assets | 22/27 | €16,676 | €12,196 | -€4,480 | -26.9% |
| Furniture and vehicles | 24 | €429 | €63 | -€366 | -85.3% |
| Other tangible fixed assets | 26 | €16,247 | €12,133 | -€4,113 | -25.3% |
| Current assets | 29/58 | €1,128,775 | €1,193,198 | +€64,423 | +5.7% |
| Amounts receivable after more than one year | 29 | €821,000 | €821,000 | = | 0.0% |
| Other amounts receivable | 291 | €821,000 | €821,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €228,503 | €289,577 | +€61,074 | +26.7% |
| Other amounts receivable | 41 | €228,503 | €289,577 | +€61,074 | +26.7% |
| Cash at bank and in hand | 54/58 | €74,623 | €75,003 | +€380 | +0.5% |
| Deferred charges and accrued income | 490/1 | €4,649 | €7,618 | +€2,969 | +63.9% |
| Total equity and liabilities | 10/49 | €1,145,451 | €1,205,395 | +€59,944 | +5.2% |
| Equity | 10/15 | €1,116,173 | €1,181,200 | +€65,027 | +5.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,103,773 | €1,168,800 | +€65,027 | +5.9% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €1,103,773 | €1,168,800 | +€65,027 | +5.9% |
| Amounts payable | 17/49 | €29,278 | €24,194 | -€5,084 | -17.4% |
| Amounts payable within one year | 42/48 | €29,278 | €23,365 | -€5,913 | -20.2% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €15,301 | €16,863 | +€1,561 | +10.2% |
| Suppliers | 440/4 | €15,301 | €16,863 | +€1,561 | +10.2% |
| Taxes, remuneration and social security | 45 | €13,977 | €6,503 | -€7,474 | -53.5% |
| Taxes | 450/3 | €13,977 | €6,503 | -€7,474 | -53.5% |
| Accrued charges and deferred income | 492/3 | - | €829 | +€829 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,184 | €4,480 | +€295 | +7.1% |
| Other operating charges | 640/8 | €2,024 | €3,840 | +€1,816 | +89.8% |
| Gross operating margin | 9900 | €110,939 | €64,859 | -€46,081 | -41.5% |
| Operating profit (loss) | 9901 | €104,731 | €56,539 | -€48,192 | -46.0% |
| Financial income | 75/76B | €37,828 | €41,437 | +€3,609 | +9.5% |
| Recurring financial income | 75 | €37,828 | €41,437 | +€3,609 | +9.5% |
| Financial charges | 65/66B | €2,300 | €1,797 | -€504 | -21.9% |
| Recurring financial charges | 65 | €2,300 | €1,797 | -€504 | -21.9% |
| Profit (loss) for the period before taxes | 9903 | €140,259 | €96,179 | -€44,080 | -31.4% |
| Income taxes | 67/77 | €45,977 | €31,152 | -€14,825 | -32.2% |
| Profit (loss) for the period | 9904 | €94,282 | €65,027 | -€29,255 | -31.0% |
| Profit (loss) for the period to be appropriated | 9905 | €94,282 | €65,027 | -€29,255 | -31.0% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.