DR. RAF ADRIAENSSEN: what changed
What changed
DR. RAF ADRIAENSSEN
NACE 75.000, Veterinary services
filed annual accounts (NBB)
Net result for the year
€21,635
2024 · €3,017+€18,618
Equity
€158,075
2024 · €139,796+€18,279
Cash
€103,936
2024 · €34,003+€69,933
Balance sheet total
€198,844
2024 · €179,058+€19,786
Largest movements
Assets
- Cash +€69,933
up €69,933 (+206%), from €34,003 to €103,936
mainly Current investments (+€24,000) and Net result for the year (+€21,635)
- Current investments -€24,000
down €24,000 (-45.7%), from €52,500 to €28,500
- Tangible fixed assets -€18,029
down €18,029 (-26.7%), from €67,600 to €49,571
of which Furniture and vehicles: -€14,848
- Receivables within one year -€8,118
down €8,118 (-32.5%), from €24,955 to €16,837
of which Trade receivables: -€4,113
Equity and liabilities
- Reserves +€18,279
up €18,279 (+14.3%), from €127,396 to €145,675
Income statement
- Gross operating margin +€27,843
up €27,843 (+69.6%), from €39,988 to €67,831
- Taxes +€9,035
up €9,035 (+544%), from €1,660 to €10,695
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
€3,017
Gross operating margin
+€27,843
Staff costs
-€603
Depreciation
-€159
Other operating charges
+€37
Financial income
+€476
Financial charges
+€59
Taxes
-€9,035
Result 2025
€21,635
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
+€49,289
Investment
+€24,000
Financing
-€3,356
Cash 2024
€34,003
From operations (derived)
+€49,289
Net result for the year
+€21,635
Depreciation
+€18,029
Receivables within one year
+€8,118
Trade debts
+€1,817
Tax, wage and social debts
+€323
Other debts
-€633
Investment (derived)
+€24,000
Current investments
+€24,000
Financing
-€3,356
Contributions, distributions and other
-€3,356
Cash 2025
€103,936
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €179,058 | €198,844 | +€19,786 | +11.1% |
| Fixed assets | 21/28 | €67,600 | €49,571 | -€18,029 | -26.7% |
| Tangible fixed assets | 22/27 | €67,600 | €49,571 | -€18,029 | -26.7% |
| Land and buildings | 22 | €2,024 | €1,423 | -€600 | -29.7% |
| Plant, machinery and equipment | 23 | €6,585 | €5,326 | -€1,258 | -19.1% |
| Furniture and vehicles | 24 | €52,683 | €37,836 | -€14,848 | -28.2% |
| Other tangible fixed assets | 26 | €6,308 | €4,985 | -€1,323 | -21.0% |
| Current assets | 29/58 | €111,458 | €149,273 | +€37,815 | +33.9% |
| Amounts receivable within one year | 40/41 | €24,955 | €16,837 | -€8,118 | -32.5% |
| Trade receivables | 40 | €20,039 | €15,926 | -€4,113 | -20.5% |
| Other amounts receivable | 41 | €4,916 | €912 | -€4,004 | -81.5% |
| Current investments | 50/53 | €52,500 | €28,500 | -€24,000 | -45.7% |
| Cash at bank and in hand | 54/58 | €34,003 | €103,936 | +€69,933 | +206% |
| Total equity and liabilities | 10/49 | €179,058 | €198,844 | +€19,786 | +11.1% |
| Equity | 10/15 | €139,796 | €158,075 | +€18,279 | +13.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €127,396 | €145,675 | +€18,279 | +14.3% |
| Distributable reserves | 133 | €127,396 | €145,675 | +€18,279 | +14.3% |
| Amounts payable | 17/49 | €39,262 | €40,769 | +€1,507 | +3.8% |
| Amounts payable within one year | 42/48 | €39,262 | €40,769 | +€1,507 | +3.8% |
| Trade debts | 44 | €30,009 | €31,826 | +€1,817 | +6.1% |
| Suppliers | 440/4 | €30,009 | €31,826 | +€1,817 | +6.1% |
| Taxes, remuneration and social security | 45 | €7,076 | €7,399 | +€323 | +4.6% |
| Taxes | 450/3 | €2,315 | €2,497 | +€183 | +7.9% |
| Remuneration and social security | 454/9 | €4,761 | €4,901 | +€140 | +2.9% |
| Other amounts payable | 47/48 | €2,177 | €1,544 | -€633 | -29.1% |
| Remuneration, social security and pensions | 62 | €16,770 | €17,373 | +€603 | +3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,871 | €18,029 | +€159 | +0.9% |
| Other operating charges | 640/8 | €1,072 | €1,035 | -€37 | -3.5% |
| Gross operating margin | 9900 | €39,988 | €67,831 | +€27,843 | +69.6% |
| Operating profit (loss) | 9901 | €4,276 | €31,394 | +€27,118 | +634% |
| Financial income | 75/76B | €541 | €1,017 | +€476 | +87.9% |
| Recurring financial income | 75 | €541 | €1,017 | +€476 | +87.9% |
| Financial charges | 65/66B | €139 | €81 | -€59 | -42.1% |
| Recurring financial charges | 65 | €139 | €81 | -€59 | -42.1% |
| Profit (loss) for the period before taxes | 9903 | €4,678 | €32,330 | +€27,653 | +591% |
| Income taxes | 67/77 | €1,660 | €10,695 | +€9,035 | +544% |
| Profit (loss) for the period | 9904 | €3,017 | €21,635 | +€18,618 | +617% |
| Profit (loss) for the period to be appropriated | 9905 | €3,017 | €21,635 | +€18,618 | +617% |
Next steps
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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 3 November 2026 via checked.be.