Bart Van De Caveye: 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.
Bart Van De Caveye
Largest movements
- Cash -€89,129
down €89,129 (-58.0%), from €153,678 to €64,550
mainly Contributions, distributions and other (-€144,828) and Tax, wage and social debts (-€11,652)
- Receivables after one year -€29,270
no longer reported in 2025 (was €29,270)
- Current investments +€11,000
new in 2025: €11,000
- Tangible fixed assets -€2,978
down €2,978 (-26.8%), from €11,096 to €8,118
of which Furniture and vehicles: -€2,271
- Reserves -€126,627
down €126,627 (-66.7%), from €189,889 to €63,263
- Other debts +€30,190
up €30,190 (+336937.4%), from €9 to €30,199
- Tax, wage and social debts -€11,652
down €11,652 (-90.0%), from €12,952 to €1,300
of which Taxes: -€11,652
- Gross operating margin -€29,808
down €29,808 (-45.4%), from €65,603 to €35,796
- Taxes -€4,968
down €4,968 (-39.4%), from €12,616 to €7,649
- Financial charges +€4,616
up €4,616 (+540.3%), from €854 to €5,470
- Depreciation -€2,557
down €2,557 (-38.7%), from €6,606 to €4,049
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.
Cash bridge derived
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 | €215,112 | €105,031 | -€110,081 | -51.2% |
| Fixed assets | 21/28 | €11,096 | €8,118 | -€2,978 | -26.8% |
| Tangible fixed assets | 22/27 | €11,096 | €8,118 | -€2,978 | -26.8% |
| Land and buildings | 22 | €5,837 | €5,130 | -€708 | -12.1% |
| Furniture and vehicles | 24 | €5,259 | €2,988 | -€2,271 | -43.2% |
| Current assets | 29/58 | €204,015 | €96,913 | -€107,103 | -52.5% |
| Amounts receivable after more than one year | 29 | €29,270 | - | -€29,270 | |
| Other amounts receivable | 291 | €29,270 | - | -€29,270 | |
| Amounts receivable within one year | 40/41 | €18,566 | €18,691 | +€125 | +0.7% |
| Trade receivables | 40 | €18,566 | €17,339 | -€1,227 | -6.6% |
| Other amounts receivable | 41 | - | €1,351 | +€1,351 | |
| Current investments | 50/53 | - | €11,000 | +€11,000 | |
| Cash at bank and in hand | 54/58 | €153,678 | €64,550 | -€89,129 | -58.0% |
| Deferred charges and accrued income | 490/1 | €2,501 | €2,672 | +€172 | +6.9% |
| Total equity and liabilities | 10/49 | €215,112 | €105,031 | -€110,081 | -51.2% |
| Equity | 10/15 | €191,889 | €65,263 | -€126,627 | -66.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €189,889 | €63,263 | -€126,627 | -66.7% |
| Distributable reserves | 133 | €189,889 | €63,263 | -€126,627 | -66.7% |
| Amounts payable | 17/49 | €23,222 | €39,768 | +€16,546 | +71.2% |
| Amounts payable within one year | 42/48 | €23,222 | €39,768 | +€16,546 | +71.2% |
| Trade debts | 44 | €10,262 | €8,270 | -€1,992 | -19.4% |
| Suppliers | 440/4 | €10,262 | €8,270 | -€1,992 | -19.4% |
| Taxes, remuneration and social security | 45 | €12,952 | €1,300 | -€11,652 | -90.0% |
| Taxes | 450/3 | €11,652 | - | -€11,652 | |
| Remuneration and social security | 454/9 | €1,300 | €1,300 | = | 0.0% |
| Other amounts payable | 47/48 | €9 | €30,199 | +€30,190 | +336937.4% |
| Non-recurring operating income | 76A | - | €6,619 | +€6,619 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,606 | €4,049 | -€2,557 | -38.7% |
| Other operating charges | 640/8 | €1,230 | €1,056 | -€175 | -14.2% |
| Gross operating margin | 9900 | €65,603 | €35,796 | -€29,808 | -45.4% |
| Operating profit (loss) | 9901 | €57,767 | €30,691 | -€27,076 | -46.9% |
| Financial income | 75/76B | €765 | €629 | -€136 | -17.8% |
| Recurring financial income | 75 | €765 | €629 | -€136 | -17.8% |
| Financial charges | 65/66B | €854 | €5,470 | +€4,616 | +540.3% |
| Recurring financial charges | 65 | €854 | €5,470 | +€4,616 | +540.3% |
| Profit (loss) for the period before taxes | 9903 | €57,678 | €25,850 | -€31,827 | -55.2% |
| Income taxes | 67/77 | €12,616 | €7,649 | -€4,968 | -39.4% |
| Profit (loss) for the period | 9904 | €45,061 | €18,201 | -€26,860 | -59.6% |
| Profit (loss) for the period to be appropriated | 9905 | €45,061 | €18,201 | -€26,860 | -59.6% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.