DR. G. DE SMUL: what changed
What changed
DR. G. DE SMUL
NACE 86.220, Specialist medical practice
filed annual accounts (NBB)
Net result for the year
€132,756
2024 · €165,788-€33,032
Equity
€583,435
2024 · €567,679+€15,756
Cash
€6,918
2024 · €31,704-€24,786
Balance sheet total
€690,608
2024 · €707,636-€17,028
Largest movements
Assets
- Receivables within one year +€139,831
new in 2025: €139,831
- Current investments -€113,999
down €113,999 (-21.2%), from €538,000 to €424,001
- Cash -€24,786
down €24,786 (-78.2%), from €31,704 to €6,918
mainly Receivables within one year (-€139,831) and Contributions, distributions and other (-€117,000)
- Deferred charges and accrued income -€16,595
down €16,595 (-13.8%), from €120,288 to €103,693
Equity and liabilities
- Tax, wage and social debts -€32,563
down €32,563 (-51.6%), from €63,068 to €30,505
- Reserves +€15,756
up €15,756 (+2.8%), from €567,679 to €583,435
Income statement
- Gross operating margin -€32,278
down €32,278 (-14.5%), from €223,277 to €190,999
- Taxes -€3,839
down €3,839 (-6.1%), from €62,792 to €58,953
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
€165,788
Gross operating margin
-€32,278
Depreciation
-€1,857
Other operating charges
-€15
Financial income
-€1,975
Financial charges
-€746
Taxes
+€3,839
Result 2025
€132,756
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
-€19,065
Investment
+€111,279
Financing
-€117,000
Cash 2024
€31,704
From operations (derived)
-€19,065
Net result for the year
+€132,756
Depreciation
+€4,199
Receivables within one year
-€139,831
Deferred charges and accrued income
+€16,595
Tax, wage and social debts
-€32,563
Other debts
-€221
Investment (derived)
+€111,279
Investment in fixed assets (net)
-€2,720
Current investments
+€113,999
Financing
-€117,000
Contributions, distributions and other
-€117,000
Cash 2025
€6,918
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €707,636 | €690,608 | -€17,028 | -2.4% |
| Fixed assets | 21/28 | €14,644 | €13,165 | -€1,479 | -10.1% |
| Tangible fixed assets | 22/27 | €14,644 | €13,165 | -€1,479 | -10.1% |
| Furniture and vehicles | 24 | €3,448 | €2,710 | -€738 | -21.4% |
| Other tangible fixed assets | 26 | €11,196 | €10,455 | -€741 | -6.6% |
| Current assets | 29/58 | €692,992 | €677,443 | -€15,549 | -2.2% |
| Amounts receivable after more than one year | 29 | €3,000 | €3,000 | = | 0.0% |
| Other amounts receivable | 291 | €3,000 | €3,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | - | €139,831 | +€139,831 | |
| Other amounts receivable | 41 | - | €139,831 | +€139,831 | |
| Current investments | 50/53 | €538,000 | €424,001 | -€113,999 | -21.2% |
| Cash at bank and in hand | 54/58 | €31,704 | €6,918 | -€24,786 | -78.2% |
| Deferred charges and accrued income | 490/1 | €120,288 | €103,693 | -€16,595 | -13.8% |
| Total equity and liabilities | 10/49 | €707,636 | €690,608 | -€17,028 | -2.4% |
| Equity | 10/15 | €567,679 | €583,435 | +€15,756 | +2.8% |
| Reserves | 13 | €567,679 | €583,435 | +€15,756 | +2.8% |
| Distributable reserves | 133 | €567,679 | €583,435 | +€15,756 | +2.8% |
| Provisions and deferred taxes | 16 | €76,668 | €76,668 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €76,668 | €76,668 | = | 0.0% |
| Pensions and similar obligations | 160 | €76,668 | €76,668 | = | 0.0% |
| Amounts payable | 17/49 | €63,289 | €30,505 | -€32,784 | -51.8% |
| Amounts payable within one year | 42/48 | €63,289 | €30,505 | -€32,784 | -51.8% |
| Taxes, remuneration and social security | 45 | €63,068 | €30,505 | -€32,563 | -51.6% |
| Taxes | 450/3 | €63,068 | €30,505 | -€32,563 | -51.6% |
| Other amounts payable | 47/48 | €221 | - | -€221 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,342 | €4,199 | +€1,857 | +79.3% |
| Other operating charges | 640/8 | €2,181 | €2,196 | +€15 | +0.7% |
| Gross operating margin | 9900 | €223,277 | €190,999 | -€32,278 | -14.5% |
| Operating profit (loss) | 9901 | €218,754 | €184,604 | -€34,150 | -15.6% |
| Financial income | 75/76B | €10,624 | €8,649 | -€1,975 | -18.6% |
| Recurring financial income | 75 | €10,624 | €8,649 | -€1,975 | -18.6% |
| Financial charges | 65/66B | €798 | €1,544 | +€746 | +93.5% |
| Recurring financial charges | 65 | €798 | €1,544 | +€746 | +93.5% |
| Profit (loss) for the period before taxes | 9903 | €228,580 | €191,709 | -€36,871 | -16.1% |
| Income taxes | 67/77 | €62,792 | €58,953 | -€3,839 | -6.1% |
| Profit (loss) for the period | 9904 | €165,788 | €132,756 | -€33,032 | -19.9% |
| Profit (loss) for the period to be appropriated | 9905 | €165,788 | €132,756 | -€33,032 | -19.9% |
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 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.