Dr. Frederik Kao: what changed
What changed
Dr. Frederik Kao
NACE 86.210, General medical practice
filed annual accounts (NBB)
Net result for the year
€236,029
2024 · €288,507-€52,478
Equity
€1.1m
2024 · €873,522+€235,196
Cash
€210,773
2024 · €176,563+€34,209
Balance sheet total
€1.8m
2024 · €1.7m+€159,787
Largest movements
Assets
- Receivables within one year +€174,215
up €174,215 (+36.8%), from €473,942 to €648,157
of which Other amounts receivable: +€178,943
- Tangible fixed assets -€60,612
down €60,612 (-6.5%), from €927,758 to €867,146
of which Land and buildings: -€47,061
- Cash +€34,209
up €34,209 (+19.4%), from €176,563 to €210,773
mainly Net result for the year (+€236,029) and Depreciation (+€90,694)
Equity and liabilities
- Reserves +€235,196
up €235,196 (+26.9%), from €873,521 to €1.1m
- Debts after one year -€74,241
down €74,241 (-11.7%), from €636,460 to €562,218
Income statement
- Gross operating margin -€71,845
down €71,845 (-14.1%), from €511,167 to €439,322
- Taxes -€26,489
down €26,489 (-19.7%), from €134,451 to €107,962
- Staff costs +€10,473
up €10,473 (+62.7%), from €16,695 to €27,168
- Financial income +€7,675
up €7,675 (+29.6%), from €25,904 to €33,579
- Depreciation +€6,200
up €6,200 (+7.3%), from €84,494 to €90,694
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.
Result 2024
€288,507
Gross operating margin
-€71,845
Staff costs
-€10,473
Depreciation
-€6,200
Other operating charges
+€1,045
Financial income
+€7,675
Financial charges
+€830
Taxes
+€26,489
Result 2025
€236,029
raises the resultlowers the result
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.
From operations
+€138,273
Investment
-€30,081
Financing
-€73,982
Cash 2024
€176,563
From operations (derived)
+€138,273
Net result for the year
+€236,029
Depreciation
+€90,694
Receivables within one year
-€174,215
Deferred charges and accrued income
-€11,975
Trade debts
-€5,220
Tax, wage and social debts
+€2,883
Smaller working-capital items
+€76
Investment (derived)
-€30,081
Investment in fixed assets (net)
-€30,081
Financing
-€73,982
Debts after one year
-€74,241
Current portion of long-term debt
+€1,092
Contributions, distributions and other
-€833
Cash 2025
€210,773
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,667,474 | €1,827,261 | +€159,787 | +9.6% |
| Fixed assets | 21/28 | €927,758 | €867,146 | -€60,612 | -6.5% |
| Tangible fixed assets | 22/27 | €927,758 | €867,146 | -€60,612 | -6.5% |
| Land and buildings | 22 | €798,502 | €751,441 | -€47,061 | -5.9% |
| Plant, machinery and equipment | 23 | €15,142 | €13,036 | -€2,106 | -13.9% |
| Furniture and vehicles | 24 | €114,114 | €84,070 | -€30,044 | -26.3% |
| Assets under construction and advance payments | 27 | - | €18,599 | +€18,599 | |
| Current assets | 29/58 | €739,716 | €960,115 | +€220,399 | +29.8% |
| Amounts receivable after more than one year | 29 | €80,000 | €80,000 | = | 0.0% |
| Other amounts receivable | 291 | €80,000 | €80,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €473,942 | €648,157 | +€174,215 | +36.8% |
| Trade receivables | 40 | €8,519 | €3,791 | -€4,728 | -55.5% |
| Other amounts receivable | 41 | €465,422 | €644,366 | +€178,943 | +38.4% |
| Cash at bank and in hand | 54/58 | €176,563 | €210,773 | +€34,209 | +19.4% |
| Deferred charges and accrued income | 490/1 | €9,211 | €21,186 | +€11,975 | +130% |
| Total equity and liabilities | 10/49 | €1,667,474 | €1,827,261 | +€159,787 | +9.6% |
| Equity | 10/15 | €873,522 | €1,108,719 | +€235,196 | +26.9% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Reserves | 13 | €873,521 | €1,108,718 | +€235,196 | +26.9% |
| Distributable reserves | 133 | €873,521 | €1,108,718 | +€235,196 | +26.9% |
| Amounts payable | 17/49 | €793,952 | €718,542 | -€75,410 | -9.5% |
| Amounts payable after more than one year | 17 | €636,460 | €562,218 | -€74,241 | -11.7% |
| Financial debts | 170/4 | €636,460 | €562,218 | -€74,241 | -11.7% |
| Amounts payable within one year | 42/48 | €156,477 | €155,207 | -€1,270 | -0.8% |
| Current portion of amounts payable after more than one year | 42 | €73,149 | €74,241 | +€1,092 | +1.5% |
| Trade debts | 44 | €11,335 | €6,115 | -€5,220 | -46.1% |
| Suppliers | 440/4 | €11,335 | €6,115 | -€5,220 | -46.1% |
| Taxes, remuneration and social security | 45 | €71,134 | €74,017 | +€2,883 | +4.1% |
| Taxes | 450/3 | €67,451 | €69,645 | +€2,194 | +3.3% |
| Remuneration and social security | 454/9 | €3,683 | €4,373 | +€690 | +18.7% |
| Other amounts payable | 47/48 | €859 | €833 | -€26 | -3.0% |
| Accrued charges and deferred income | 492/3 | €1,015 | €1,117 | +€102 | +10.0% |
| Remuneration, social security and pensions | 62 | €16,695 | €27,168 | +€10,473 | +62.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €84,494 | €90,694 | +€6,200 | +7.3% |
| Other operating charges | 640/8 | €4,816 | €3,771 | -€1,045 | -21.7% |
| Gross operating margin | 9900 | €511,167 | €439,322 | -€71,845 | -14.1% |
| Operating profit (loss) | 9901 | €405,162 | €317,690 | -€87,472 | -21.6% |
| Financial income | 75/76B | €25,904 | €33,579 | +€7,675 | +29.6% |
| Recurring financial income | 75 | €25,904 | €33,579 | +€7,675 | +29.6% |
| Financial charges | 65/66B | €8,108 | €7,278 | -€830 | -10.2% |
| Recurring financial charges | 65 | €8,108 | €7,278 | -€830 | -10.2% |
| Profit (loss) for the period before taxes | 9903 | €422,958 | €343,991 | -€78,967 | -18.7% |
| Income taxes | 67/77 | €134,451 | €107,962 | -€26,489 | -19.7% |
| Profit (loss) for the period | 9904 | €288,507 | €236,029 | -€52,478 | -18.2% |
| Profit (loss) for the period to be appropriated | 9905 | €288,507 | €236,029 | -€52,478 | -18.2% |
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Compare this company with its sector.Sector benchmark
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 8 November 2026 via checked.be.