WOUTERS MICHEL: 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
WOUTERS MICHEL
NACE 86.210, General medical practice
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€152,060
2024 · €227,962-€75,902
Equity
€1.6m
2024 · €1.6m+€7,943
Cash
€440,935
2024 · €461,050-€20,114
Balance sheet total
€2.0m
2024 · €2.0m+€51,868
Largest movements
Assets
- Current investments +€81,160
up €81,160 (+15.2%), from €533,262 to €614,422
Equity and liabilities
- Other debts +€74,888
up €74,888 (+26.6%), from €281,805 to €356,694
- Tax, wage and social debts -€30,093
down €30,093 (-67.2%), from €44,772 to €14,679
Income statement
- Gross operating margin -€91,261
down €91,261 (-22.5%), from €405,448 to €314,187
- Taxes -€33,157
down €33,157 (-32.3%), from €102,729 to €69,573
- Financial charges +€19,278
up €19,278 (+495%), from €3,897 to €23,175
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
€227,962
Gross operating margin
-€91,261
Depreciation
+€774
Other operating charges
+€49
Financial income
+€657
Financial charges
-€19,278
Taxes
+€33,157
Result 2025
€152,060
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
+€273,278
Investment
-€149,276
Financing
-€144,117
Cash 2024
€461,050
From operations (derived)
+€273,278
Net result for the year
+€152,060
Depreciation
+€71,560
Receivables within one year
+€8,012
Deferred charges and accrued income
-€2,278
Trade debts
-€871
Tax, wage and social debts
-€30,093
Other debts
+€74,888
Investment (derived)
-€149,276
Investment in fixed assets (net)
-€68,116
Current investments
-€81,160
Financing
-€144,117
Contributions, distributions and other
-€144,117
Cash 2025
€440,935
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,967,458 | €2,019,325 | +€51,868 | +2.6% |
| Fixed assets | 21/28 | €530,196 | €526,752 | -€3,444 | -0.6% |
| Tangible fixed assets | 22/27 | €530,196 | €526,752 | -€3,444 | -0.6% |
| Land and buildings | 22 | €522,681 | €520,841 | -€1,840 | -0.4% |
| Plant, machinery and equipment | 23 | €2,368 | €3,772 | +€1,404 | +59.3% |
| Furniture and vehicles | 24 | €4,363 | €2,139 | -€2,224 | -51.0% |
| Other tangible fixed assets | 26 | €784 | €0 | -€784 | -100% |
| Current assets | 29/58 | €1,437,261 | €1,492,573 | +€55,312 | +3.8% |
| Amounts receivable after more than one year | 29 | €359,000 | €359,000 | = | 0.0% |
| Other amounts receivable | 291 | €359,000 | €359,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €78,375 | €70,362 | -€8,012 | -10.2% |
| Trade receivables | 40 | €21,260 | €8,991 | -€12,269 | -57.7% |
| Other amounts receivable | 41 | €57,115 | €61,372 | +€4,257 | +7.5% |
| Current investments | 50/53 | €533,262 | €614,422 | +€81,160 | +15.2% |
| Cash at bank and in hand | 54/58 | €461,050 | €440,935 | -€20,114 | -4.4% |
| Deferred charges and accrued income | 490/1 | €5,575 | €7,853 | +€2,278 | +40.9% |
| Total equity and liabilities | 10/49 | €1,967,458 | €2,019,325 | +€51,868 | +2.6% |
| Equity | 10/15 | €1,634,356 | €1,642,300 | +€7,943 | +0.5% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €1,615,356 | €1,623,300 | +€7,943 | +0.5% |
| Distributable reserves | 133 | €1,615,356 | €1,623,300 | +€7,943 | +0.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €333,101 | €377,026 | +€43,924 | +13.2% |
| Amounts payable within one year | 42/48 | €333,101 | €377,026 | +€43,924 | +13.2% |
| Trade debts | 44 | €6,524 | €5,653 | -€871 | -13.4% |
| Suppliers | 440/4 | €6,524 | €5,653 | -€871 | -13.4% |
| Taxes, remuneration and social security | 45 | €44,772 | €14,679 | -€30,093 | -67.2% |
| Taxes | 450/3 | €44,772 | €14,679 | -€30,093 | -67.2% |
| Other amounts payable | 47/48 | €281,805 | €356,694 | +€74,888 | +26.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €72,334 | €71,560 | -€774 | -1.1% |
| Other operating charges | 640/8 | €7,721 | €7,671 | -€49 | -0.6% |
| Gross operating margin | 9900 | €405,448 | €314,187 | -€91,261 | -22.5% |
| Operating profit (loss) | 9901 | €325,393 | €234,956 | -€90,438 | -27.8% |
| Financial income | 75/76B | €9,195 | €9,851 | +€657 | +7.1% |
| Recurring financial income | 75 | €9,195 | €9,851 | +€657 | +7.1% |
| Financial charges | 65/66B | €3,897 | €23,175 | +€19,278 | +495% |
| Recurring financial charges | 65 | €3,897 | €23,175 | +€19,278 | +495% |
| Profit (loss) for the period before taxes | 9903 | €330,692 | €221,632 | -€109,059 | -33.0% |
| Income taxes | 67/77 | €102,729 | €69,573 | -€33,157 | -32.3% |
| Profit (loss) for the period | 9904 | €227,962 | €152,060 | -€75,902 | -33.3% |
| Profit (loss) for the period to be appropriated | 9905 | €227,962 | €152,060 | -€75,902 | -33.3% |
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 28 October 2026 via checked.be.