Dr. R. Koevoets: 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.
What changed
Dr. R. Koevoets
NACE 86.220, Specialist medical practice
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€193,396
2024 · €156,736+€36,660
Equity
€621,906
2024 · €1.1m-€446,644
Cash
€573
2024 · -+€573
Balance sheet total
€1.7m
2024 · €1.6m+€177,518
Largest movements
Assets
- Receivables within one year +€162,441
up €162,441 (+48.0%), from €338,282 to €500,723
of which Other amounts receivable: +€164,439
Equity and liabilities
- Other debts +€640,040
new in 2025: €640,040
- Reserves -€446,644
down €446,644 (-47.1%), from €948,340 to €501,696
- Current portion of long-term debt -€20,194
down €20,194 (-29.5%), from €68,564 to €48,371
- Short-term financial debts -€18,726
down €18,726 (-47.4%), from €39,512 to €20,786
Income statement
- Financial income +€38,085
up €38,085 (+214%), from €17,757 to €55,842
of which Financial income: +€20,585
- Taxes +€16,344
up €16,344 (+23.1%), from €70,641 to €86,985
- Gross operating margin +€14,149
up €14,149 (+5.0%), from €280,924 to €295,073
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.
Result 2024
€156,736
Gross operating margin
+€14,149
Staff costs
-€511
Depreciation
+€305
Other operating charges
+€746
Financial income
+€38,085
Financial charges
+€230
Taxes
-€16,344
Result 2025
€193,396
raises the resultlowers the result
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.
From operations
+€740,427
Investment
-€61,749
Financing
-€678,105
Cash 2024
€0
From operations (derived)
+€740,427
Net result for the year
+€193,396
Depreciation
+€50,763
Receivables within one year
-€162,441
Deferred charges and accrued income
-€3,518
Trade debts
+€7,917
Tax, wage and social debts
+€13,983
Other debts
+€640,040
Accrued charges and deferred income
+€287
Investment (derived)
-€61,749
Investment in fixed assets (net)
-€61,749
Financing
-€678,105
Debts after one year
+€855
Current portion of long-term debt
-€20,194
Short-term financial debts
-€18,726
Contributions, distributions and other
-€640,040
Cash 2025
€573
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,563,749 | €1,741,268 | +€177,518 | +11.4% |
| Fixed assets | 21/28 | €631,705 | €642,691 | +€10,986 | +1.7% |
| Tangible fixed assets | 22/27 | €631,705 | €642,691 | +€10,986 | +1.7% |
| Land and buildings | 22 | €617,094 | €568,486 | -€48,608 | -7.9% |
| Plant, machinery and equipment | 23 | €199 | €93 | -€106 | -53.3% |
| Furniture and vehicles | 24 | €755 | €60,455 | +€59,700 | +7,904% |
| Other tangible fixed assets | 26 | €13,657 | €13,657 | = | 0.0% |
| Current assets | 29/58 | €932,044 | €1,098,577 | +€166,532 | +17.9% |
| Amounts receivable after more than one year | 29 | €505,000 | €505,000 | = | 0.0% |
| Other amounts receivable | 291 | €505,000 | €505,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €338,282 | €500,723 | +€162,441 | +48.0% |
| Trade receivables | 40 | €1,998 | €0 | -€1,998 | -100% |
| Other amounts receivable | 41 | €336,285 | €500,723 | +€164,439 | +48.9% |
| Cash at bank and in hand | 54/58 | - | €573 | +€573 | |
| Deferred charges and accrued income | 490/1 | €88,762 | €92,280 | +€3,518 | +4.0% |
| Total equity and liabilities | 10/49 | €1,563,749 | €1,741,268 | +€177,518 | +11.4% |
| Equity | 10/15 | €1,068,550 | €621,906 | -€446,644 | -41.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €948,340 | €501,696 | -€446,644 | -47.1% |
| Distributable reserves | 133 | €948,340 | €501,696 | -€446,644 | -47.1% |
| Profit (loss) carried forward | 14 | €107,809 | €107,809 | = | 0.0% |
| Provisions and deferred taxes | 16 | €22,252 | €22,252 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €22,252 | €22,252 | = | 0.0% |
| Pensions and similar obligations | 160 | €22,252 | €22,252 | = | 0.0% |
| Amounts payable | 17/49 | €472,948 | €1,097,110 | +€624,162 | +132% |
| Amounts payable after more than one year | 17 | €337,855 | €338,709 | +€855 | +0.3% |
| Financial debts | 170/4 | €337,855 | €338,709 | +€855 | +0.3% |
| Amounts payable within one year | 42/48 | €135,093 | €758,114 | +€623,021 | +461% |
| Current portion of amounts payable after more than one year | 42 | €68,564 | €48,371 | -€20,194 | -29.5% |
| Financial debts | 43 | €39,512 | €20,786 | -€18,726 | -47.4% |
| Credit institutions | 430/8 | €39,512 | €20,786 | -€18,726 | -47.4% |
| Trade debts | 44 | €2,243 | €10,160 | +€7,917 | +353% |
| Suppliers | 440/4 | €2,243 | €10,160 | +€7,917 | +353% |
| Taxes, remuneration and social security | 45 | €24,774 | €38,757 | +€13,983 | +56.4% |
| Taxes | 450/3 | €24,774 | €38,757 | +€13,983 | +56.4% |
| Other amounts payable | 47/48 | - | €640,040 | +€640,040 | |
| Accrued charges and deferred income | 492/3 | - | €287 | +€287 | |
| Remuneration, social security and pensions | 62 | - | €511 | +€511 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,068 | €50,763 | -€305 | -0.6% |
| Other operating charges | 640/8 | €5,209 | €4,463 | -€746 | -14.3% |
| Gross operating margin | 9900 | €280,924 | €295,073 | +€14,149 | +5.0% |
| Operating profit (loss) | 9901 | €224,646 | €239,335 | +€14,689 | +6.5% |
| Financial income | 75/76B | €17,757 | €55,842 | +€38,085 | +214% |
| Recurring financial income | 75 | €17,757 | €38,342 | +€20,585 | +116% |
| Non-recurring financial income | 76B | - | €17,500 | +€17,500 | |
| Financial charges | 65/66B | €15,026 | €14,796 | -€230 | -1.5% |
| Recurring financial charges | 65 | €15,026 | €14,796 | -€230 | -1.5% |
| Profit (loss) for the period before taxes | 9903 | €227,378 | €280,381 | +€53,004 | +23.3% |
| Income taxes | 67/77 | €70,641 | €86,985 | +€16,344 | +23.1% |
| Profit (loss) for the period | 9904 | €156,736 | €193,396 | +€36,660 | +23.4% |
| Profit (loss) for the period to be appropriated | 9905 | €156,736 | €193,396 | +€36,660 | +23.4% |
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 19 October 2026 via checked.be.