Dr. Eneman - Dr. Deraeve: 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. Eneman - Dr. Deraeve
Largest movements
- Cash -€53,704
down €53,704 (-66.9%), from €80,298 to €26,594
mainly Contributions, distributions and other (-€97,033) and Other debts (-€84,364)
- Deferred charges and accrued income -€19,608
down €19,608 (-29.4%), from €66,772 to €47,164
- Receivables within one year -€15,288
no longer reported in 2025 (was €15,288)
- Tangible fixed assets -€3,718
down €3,718 (-31.0%), from €11,981 to €8,264
of which Furniture and vehicles: -€2,091
- Other debts -€84,364
down €84,364 (-58.4%), from €144,462 to €60,097
- Trade debts -€9,516
down €9,516 (-91.9%), from €10,350 to €834
- Tax, wage and social debts +€5,281
up €5,281 (+70.0%), from €7,546 to €12,826
- Reserves -€3,718
down €3,718 (-31.6%), from €11,781 to €8,064
- Gross operating margin -€57,511
down €57,511 (-31.6%), from €181,873 to €124,362
- Taxes -€14,265
down €14,265 (-35.2%), from €40,546 to €26,281
- Depreciation -€3,427
down €3,427 (-48.0%), from €7,145 to €3,718
- Financial income -€2,193
down €2,193 (-100.0%), from €2,193 to €0
of which Non-recurring financial income: -€2,193
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 | €174,339 | €82,022 | -€92,318 | -53.0% |
| Fixed assets | 21/28 | €11,981 | €8,264 | -€3,718 | -31.0% |
| Tangible fixed assets | 22/27 | €11,981 | €8,264 | -€3,718 | -31.0% |
| Furniture and vehicles | 24 | €6,701 | €4,610 | -€2,091 | -31.2% |
| Other tangible fixed assets | 26 | €5,280 | €3,654 | -€1,626 | -30.8% |
| Current assets | 29/58 | €162,358 | €73,758 | -€88,600 | -54.6% |
| Amounts receivable within one year | 40/41 | €15,288 | - | -€15,288 | |
| Other amounts receivable | 41 | €15,288 | - | -€15,288 | |
| Cash at bank and in hand | 54/58 | €80,298 | €26,594 | -€53,704 | -66.9% |
| Deferred charges and accrued income | 490/1 | €66,772 | €47,164 | -€19,608 | -29.4% |
| Total equity and liabilities | 10/49 | €174,339 | €82,022 | -€92,318 | -53.0% |
| Equity | 10/15 | €11,981 | €8,264 | -€3,718 | -31.0% |
| Contributions | 10/11 | €200 | €200 | = | 0.0% |
| Reserves | 13 | €11,781 | €8,064 | -€3,718 | -31.6% |
| Distributable reserves | 133 | €11,781 | €8,064 | -€3,718 | -31.6% |
| Amounts payable | 17/49 | €162,358 | €73,758 | -€88,600 | -54.6% |
| Amounts payable within one year | 42/48 | €162,358 | €73,758 | -€88,600 | -54.6% |
| Trade debts | 44 | €10,350 | €834 | -€9,516 | -91.9% |
| Suppliers | 440/4 | €10,350 | €834 | -€9,516 | -91.9% |
| Taxes, remuneration and social security | 45 | €7,546 | €12,826 | +€5,281 | +70.0% |
| Taxes | 450/3 | €7,546 | €12,826 | +€5,281 | +70.0% |
| Other amounts payable | 47/48 | €144,462 | €60,097 | -€84,364 | -58.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,145 | €3,718 | -€3,427 | -48.0% |
| Other operating charges | 640/8 | €838 | €994 | +€156 | +18.6% |
| Gross operating margin | 9900 | €181,873 | €124,362 | -€57,511 | -31.6% |
| Operating profit (loss) | 9901 | €173,890 | €119,650 | -€54,240 | -31.2% |
| Financial income | 75/76B | €2,193 | €0 | -€2,193 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | = | 0.0% |
| Non-recurring financial income | 76B | €2,193 | - | -€2,193 | |
| Financial charges | 65/66B | €161 | €54 | -€107 | -66.4% |
| Recurring financial charges | 65 | €161 | €54 | -€107 | -66.4% |
| Profit (loss) for the period before taxes | 9903 | €175,922 | €119,596 | -€56,326 | -32.0% |
| Income taxes | 67/77 | €40,546 | €26,281 | -€14,265 | -35.2% |
| Profit (loss) for the period | 9904 | €135,376 | €93,315 | -€42,061 | -31.1% |
| Profit (loss) for the period to be appropriated | 9905 | €135,376 | €93,315 | -€42,061 | -31.1% |
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 24 October 2026 via checked.be.