Dr. Marcel De Clercq: what changed
What changed
Dr. Marcel De Clercq
filed annual accounts (NBB)
Net result for the year
€59,980
2024 · €61,279-€1,299
Equity
€445,011
2024 · €388,031+€56,980
Cash
€303,824
2024 · €253,699+€50,125
Balance sheet total
€456,031
2024 · €395,645+€60,386
Largest movements
Assets
- Cash +€50,125
up €50,125 (+19.8%), from €253,699 to €303,824
mainly Net result for the year (+€59,980) and Depreciation (+€13,577)
- Current investments +€16,000
up €16,000 (+26.7%), from €60,000 to €76,000
- Tangible fixed assets -€9,816
down €9,816 (-20.3%), from €48,285 to €38,469
Equity and liabilities
- Reserves +€56,980
up €56,980 (+21.3%), from €267,860 to €324,840
- Trade debts +€4,816
up €4,816 (+336%), from €1,436 to €6,252
- Tax, wage and social debts -€4,700
down €4,700 (-79.8%), from €5,888 to €1,188
of which Taxes: -€3,300
Income statement
- Gross operating margin -€14,451
down €14,451 (-13.9%), from €103,865 to €89,414
- Taxes -€9,460
down €9,460 (-31.3%), from €30,188 to €20,728
- Financial income +€3,634
up €3,634 (+93.1%), from €3,904 to €7,538
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
€61,279
Gross operating margin
-€14,451
Depreciation
+€589
Other operating charges
-€169
Financial income
+€3,634
Financial charges
-€362
Taxes
+€9,460
Result 2025
€59,980
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
+€72,886
Investment
-€19,761
Financing
-€3,000
Cash 2024
€253,699
From operations (derived)
+€72,886
Net result for the year
+€59,980
Depreciation
+€13,577
Receivables within one year
-€1,977
Deferred charges and accrued income
-€2,101
Trade debts
+€4,816
Tax, wage and social debts
-€4,700
Other debts
+€3,000
Accrued charges and deferred income
+€290
Investment (derived)
-€19,761
Investment in fixed assets (net)
-€3,761
Current investments
-€16,000
Financing
-€3,000
Contributions, distributions and other
-€3,000
Cash 2025
€303,824
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €395,645 | €456,031 | +€60,386 | +15.3% |
| Fixed assets | 21/28 | €49,285 | €39,469 | -€9,816 | -19.9% |
| Tangible fixed assets | 22/27 | €48,285 | €38,469 | -€9,816 | -20.3% |
| Land and buildings | 22 | €10,808 | €7,812 | -€2,996 | -27.7% |
| Plant, machinery and equipment | 23 | €15,712 | €11,760 | -€3,951 | -25.1% |
| Furniture and vehicles | 24 | €13,363 | €10,494 | -€2,869 | -21.5% |
| Other tangible fixed assets | 26 | €8,402 | €8,402 | = | 0.0% |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €346,360 | €416,563 | +€70,203 | +20.3% |
| Amounts receivable within one year | 40/41 | €29,693 | €31,670 | +€1,977 | +6.7% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €29,693 | €31,670 | +€1,977 | +6.7% |
| Current investments | 50/53 | €60,000 | €76,000 | +€16,000 | +26.7% |
| Cash at bank and in hand | 54/58 | €253,699 | €303,824 | +€50,125 | +19.8% |
| Deferred charges and accrued income | 490/1 | €2,967 | €5,069 | +€2,101 | +70.8% |
| Total equity and liabilities | 10/49 | €395,645 | €456,031 | +€60,386 | +15.3% |
| Equity | 10/15 | €388,031 | €445,011 | +€56,980 | +14.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €267,860 | €324,840 | +€56,980 | +21.3% |
| Distributable reserves | 133 | €267,860 | €324,840 | +€56,980 | +21.3% |
| Profit (loss) carried forward | 14 | €107,771 | €107,771 | = | 0.0% |
| Amounts payable | 17/49 | €7,614 | €11,020 | +€3,406 | +44.7% |
| Amounts payable within one year | 42/48 | €7,324 | €10,440 | +€3,116 | +42.6% |
| Trade debts | 44 | €1,436 | €6,252 | +€4,816 | +336% |
| Suppliers | 440/4 | €1,436 | €6,252 | +€4,816 | +336% |
| Taxes, remuneration and social security | 45 | €5,888 | €1,188 | -€4,700 | -79.8% |
| Taxes | 450/3 | €4,488 | €1,188 | -€3,300 | -73.5% |
| Remuneration and social security | 454/9 | €1,400 | €0 | -€1,400 | -100% |
| Other amounts payable | 47/48 | - | €3,000 | +€3,000 | |
| Accrued charges and deferred income | 492/3 | €290 | €580 | +€290 | +100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,166 | €13,577 | -€589 | -4.2% |
| Other operating charges | 640/8 | €2,103 | €2,272 | +€169 | +8.0% |
| Gross operating margin | 9900 | €103,865 | €89,414 | -€14,451 | -13.9% |
| Operating profit (loss) | 9901 | €87,595 | €73,564 | -€14,031 | -16.0% |
| Financial income | 75/76B | €3,904 | €7,538 | +€3,634 | +93.1% |
| Recurring financial income | 75 | €3,904 | €7,538 | +€3,634 | +93.1% |
| Financial charges | 65/66B | €32 | €394 | +€362 | +1,134% |
| Recurring financial charges | 65 | €32 | €394 | +€362 | +1,134% |
| Profit (loss) for the period before taxes | 9903 | €91,467 | €80,708 | -€10,759 | -11.8% |
| Income taxes | 67/77 | €30,188 | €20,728 | -€9,460 | -31.3% |
| Profit (loss) for the period | 9904 | €61,279 | €59,980 | -€1,299 | -2.1% |
| Profit (loss) for the period to be appropriated | 9905 | €61,279 | €59,980 | -€1,299 | -2.1% |
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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 2 November 2026 via checked.be.