Dr. Woutinho: 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.
Dr. Woutinho
Largest movements
- Cash +€110,306
up €110,306 (+65.8%), from €167,735 to €278,041
mainly Other debts (+€370,078) and Net result for the year (+€209,345)
- Receivables after one year -€50,000
no longer reported in 2025 (was €50,000)
- Tangible fixed assets -€19,424
down €19,424 (-38.8%), from €50,099 to €30,675
of which Furniture and vehicles: -€22,151
- Receivables within one year +€6,482
new in 2025: €6,482
- Other debts +€370,078
up €370,078 (+27,477%), from €1,347 to €371,425
- Reserves -€338,551
no longer reported in 2025 (was €338,551)
- Trade debts +€7,524
up €7,524 (+2,728%), from €276 to €7,800
- Tax, wage and social debts +€4,878
up €4,878 (+278%), from €1,757 to €6,635
of which Remuneration and social security: +€3,000
- Gross operating margin +€16,718
up €16,718 (+5.8%), from €287,692 to €304,411
- Other operating charges +€5,316
up €5,316 (+1,147%), from €463 to €5,779
- Taxes +€4,059
up €4,059 (+6.6%), from €61,576 to €65,635
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €360,531 | €404,460 | +€43,929 | +12.2% |
| Fixed assets | 21/28 | €52,099 | €32,675 | -€19,424 | -37.3% |
| Tangible fixed assets | 22/27 | €50,099 | €30,675 | -€19,424 | -38.8% |
| Plant, machinery and equipment | 23 | €8,873 | €11,601 | +€2,727 | +30.7% |
| Furniture and vehicles | 24 | €41,226 | €19,075 | -€22,151 | -53.7% |
| Financial fixed assets | 28 | €2,000 | €2,000 | = | 0.0% |
| Current assets | 29/58 | €308,432 | €371,784 | +€63,353 | +20.5% |
| Amounts receivable after more than one year | 29 | €50,000 | - | -€50,000 | |
| Other amounts receivable | 291 | €50,000 | - | -€50,000 | |
| Amounts receivable within one year | 40/41 | - | €6,482 | +€6,482 | |
| Other amounts receivable | 41 | - | €6,482 | +€6,482 | |
| Current investments | 50/53 | €90,488 | €87,048 | -€3,440 | -3.8% |
| Cash at bank and in hand | 54/58 | €167,735 | €278,041 | +€110,306 | +65.8% |
| Deferred charges and accrued income | 490/1 | €209 | €213 | +€4 | +2.0% |
| Total equity and liabilities | 10/49 | €360,531 | €404,460 | +€43,929 | +12.2% |
| Equity | 10/15 | €357,151 | €18,600 | -€338,551 | -94.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €338,551 | - | -€338,551 | |
| Distributable reserves | 133 | €338,551 | - | -€338,551 | |
| Amounts payable | 17/49 | €3,380 | €385,860 | +€382,480 | +11,316% |
| Amounts payable within one year | 42/48 | €3,380 | €385,860 | +€382,480 | +11,316% |
| Trade debts | 44 | €276 | €7,800 | +€7,524 | +2,728% |
| Suppliers | 440/4 | €276 | €7,800 | +€7,524 | +2,728% |
| Taxes, remuneration and social security | 45 | €1,757 | €6,635 | +€4,878 | +278% |
| Taxes | 450/3 | €1,757 | €3,635 | +€1,878 | +107% |
| Remuneration and social security | 454/9 | - | €3,000 | +€3,000 | |
| Other amounts payable | 47/48 | €1,347 | €371,425 | +€370,078 | +27,477% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,514 | €24,601 | +€86 | +0.4% |
| Other operating charges | 640/8 | €463 | €5,779 | +€5,316 | +1,147% |
| Gross operating margin | 9900 | €287,692 | €304,411 | +€16,718 | +5.8% |
| Operating profit (loss) | 9901 | €262,715 | €274,031 | +€11,316 | +4.3% |
| Financial income | 75/76B | €3,004 | €1,542 | -€1,462 | -48.7% |
| Recurring financial income | 75 | €3,004 | €1,542 | -€1,462 | -48.7% |
| Financial charges | 65/66B | €650 | €593 | -€57 | -8.7% |
| Recurring financial charges | 65 | €650 | €593 | -€57 | -8.7% |
| Profit (loss) for the period before taxes | 9903 | €265,069 | €274,980 | +€9,911 | +3.7% |
| Income taxes | 67/77 | €61,576 | €65,635 | +€4,059 | +6.6% |
| Profit (loss) for the period | 9904 | €203,493 | €209,345 | +€5,852 | +2.9% |
| Profit (loss) for the period to be appropriated | 9905 | €203,493 | €209,345 | +€5,852 | +2.9% |
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 14 October 2026 via checked.be.