BART VANDER KUYLEN: 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 VANDER KUYLEN
Largest movements
- Receivables within one year +€6,563
up €6,563 (+5.3%), from €123,171 to €129,733
of which Other amounts receivable: +€11,268
- Tangible fixed assets -€5,886
down €5,886 (-23.4%), from €25,164 to €19,278
of which Furniture and vehicles: -€4,250
- Reserves +€14,760
up €14,760 (+6.4%), from €230,691 to €245,452
of which Distributable reserves: +€16,879
- Trade debts -€10,646
down €10,646 (-55.2%), from €19,269 to €8,623
- Gross operating margin -€27,092
down €27,092 (-48.3%), from €56,083 to €28,990
- Taxes -€4,345
down €4,345 (-42.0%), from €10,342 to €5,997
- Financial charges -€857
down €857 (-44.3%), from €1,934 to €1,077
- Financial income +€577
up €577 (+97.0%), from €595 to €1,172
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 | €314,979 | €316,243 | +€1,264 | +0.4% |
| Fixed assets | 21/28 | €25,164 | €19,278 | -€5,886 | -23.4% |
| Tangible fixed assets | 22/27 | €25,164 | €19,278 | -€5,886 | -23.4% |
| Land and buildings | 22 | €2,727 | €1,091 | -€1,636 | -60.0% |
| Plant, machinery and equipment | 23 | €6,098 | €6,098 | = | 0.0% |
| Furniture and vehicles | 24 | €16,340 | €12,090 | -€4,250 | -26.0% |
| Current assets | 29/58 | €289,815 | €296,965 | +€7,151 | +2.5% |
| Amounts receivable within one year | 40/41 | €123,171 | €129,733 | +€6,563 | +5.3% |
| Trade receivables | 40 | €46,239 | €41,533 | -€4,706 | -10.2% |
| Other amounts receivable | 41 | €76,932 | €88,200 | +€11,268 | +14.6% |
| Current investments | 50/53 | €96,895 | €96,895 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €69,749 | €70,338 | +€588 | +0.8% |
| Total equity and liabilities | 10/49 | €314,979 | €316,243 | +€1,264 | +0.4% |
| Equity | 10/15 | €275,296 | €290,056 | +€14,760 | +5.4% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Contributions outside capital | 11 | €40,000 | - | -€40,000 | |
| Other | 1109/19 | €40,000 | - | -€40,000 | |
| Reserves | 13 | €230,691 | €245,452 | +€14,760 | +6.4% |
| Non-distributable reserves | 130/1 | €2,119 | - | -€2,119 | |
| Legal reserve | 130 | €2,119 | - | -€2,119 | |
| Distributable reserves | 133 | €228,572 | €245,452 | +€16,879 | +7.4% |
| Profit (loss) carried forward | 14 | €4,604 | €4,604 | = | 0.0% |
| Amounts payable | 17/49 | €39,683 | €26,188 | -€13,496 | -34.0% |
| Amounts payable within one year | 42/48 | €39,683 | €26,188 | -€13,496 | -34.0% |
| Trade debts | 44 | €19,269 | €8,623 | -€10,646 | -55.2% |
| Suppliers | 440/4 | €19,269 | €8,623 | -€10,646 | -55.2% |
| Taxes, remuneration and social security | 45 | €20,414 | €17,564 | -€2,850 | -14.0% |
| Taxes | 450/3 | €20,414 | €17,564 | -€2,850 | -14.0% |
| Non-recurring operating income | 76A | €28,471 | - | -€28,471 | |
| Remuneration, social security and pensions | 62 | €379 | €274 | -€105 | -27.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,173 | €5,886 | -€286 | -4.6% |
| Other operating charges | 640/8 | €2,331 | €2,168 | -€164 | -7.0% |
| Gross operating margin | 9900 | €56,083 | €28,990 | -€27,092 | -48.3% |
| Operating profit (loss) | 9901 | €47,199 | €20,662 | -€26,537 | -56.2% |
| Financial income | 75/76B | €595 | €1,172 | +€577 | +97.0% |
| Recurring financial income | 75 | €595 | €1,172 | +€577 | +97.0% |
| Financial charges | 65/66B | €1,934 | €1,077 | -€857 | -44.3% |
| Recurring financial charges | 65 | €1,934 | €1,077 | -€857 | -44.3% |
| Profit (loss) for the period before taxes | 9903 | €45,861 | €20,757 | -€25,104 | -54.7% |
| Income taxes | 67/77 | €10,342 | €5,997 | -€4,345 | -42.0% |
| Profit (loss) for the period | 9904 | €35,519 | €14,760 | -€20,759 | -58.4% |
| Profit (loss) for the period to be appropriated | 9905 | €35,519 | €14,760 | -€20,759 | -58.4% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.