Bram Van Landuyt: 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.
Bram Van Landuyt
Largest movements
- Tangible fixed assets -€7,054
down €7,054 (-4.7%), from €151,640 to €144,587
- Cash -€6,146
down €6,146 (-44.0%), from €13,982 to €7,836
mainly Other debts (-€19,073) and Tax, wage and social debts (-€15,703)
- Receivables within one year +€2,109
up €2,109 (+47.3%), from €4,463 to €6,572
of which Trade receivables: +€2,983
- Profit (loss) carried forward +€21,815
up €21,815 (+70.6%), from €30,904 to €52,719
- Other debts -€19,073
down €19,073 (-16.8%), from €113,837 to €94,765
- Tax, wage and social debts -€15,703
down €15,703 (-86.9%), from €18,069 to €2,366
of which Taxes: -€15,476
- Trade debts +€2,110
up €2,110 (+78.5%), from €2,689 to €4,800
- Gross operating margin +€47,486
up €47,486, from -€7,173 to €40,313
- Depreciation -€3,759
down €3,759 (-24.0%), from €15,655 to €11,896
- Financial charges +€2,208
up €2,208 (+989%), from €223 to €2,431
- Other operating charges +€1,189
up €1,189 (+112%), from €1,060 to €2,249
- Taxes -€685
down €685 (-40.7%), from €1,681 to €997
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 | €177,792 | €166,589 | -€11,204 | -6.3% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €153,640 | €146,587 | -€7,054 | -4.6% |
| Tangible fixed assets | 22/27 | €151,640 | €144,587 | -€7,054 | -4.7% |
| Land and buildings | 22 | €106,912 | €103,823 | -€3,088 | -2.9% |
| Plant, machinery and equipment | 23 | €702 | €502 | -€200 | -28.5% |
| Furniture and vehicles | 24 | €18,494 | €17,728 | -€765 | -4.1% |
| Other tangible fixed assets | 26 | €25,533 | €22,533 | -€3,000 | -11.7% |
| Financial fixed assets | 28 | €2,000 | €2,000 | = | 0.0% |
| Current assets | 29/58 | €24,152 | €20,002 | -€4,150 | -17.2% |
| Amounts receivable within one year | 40/41 | €4,463 | €6,572 | +€2,109 | +47.3% |
| Trade receivables | 40 | €2,071 | €5,054 | +€2,983 | +144% |
| Other amounts receivable | 41 | €2,392 | €1,518 | -€874 | -36.5% |
| Cash at bank and in hand | 54/58 | €13,982 | €7,836 | -€6,146 | -44.0% |
| Deferred charges and accrued income | 490/1 | €5,707 | €5,594 | -€113 | -2.0% |
| Total equity and liabilities | 10/49 | €177,792 | €166,589 | -€11,204 | -6.3% |
| Equity | 10/15 | €41,904 | €63,719 | +€21,815 | +52.1% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €1,000 | €1,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,000 | €1,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €30,904 | €52,719 | +€21,815 | +70.6% |
| Amounts payable | 17/49 | €135,889 | €102,870 | -€33,019 | -24.3% |
| Amounts payable within one year | 42/48 | €134,595 | €101,931 | -€32,665 | -24.3% |
| Trade debts | 44 | €2,689 | €4,800 | +€2,110 | +78.5% |
| Suppliers | 440/4 | €2,689 | €4,800 | +€2,110 | +78.5% |
| Taxes, remuneration and social security | 45 | €18,069 | €2,366 | -€15,703 | -86.9% |
| Taxes | 450/3 | €16,911 | €1,435 | -€15,476 | -91.5% |
| Remuneration and social security | 454/9 | €1,158 | €931 | -€227 | -19.6% |
| Other amounts payable | 47/48 | €113,837 | €94,765 | -€19,073 | -16.8% |
| Accrued charges and deferred income | 492/3 | €1,293 | €939 | -€354 | -27.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,655 | €11,896 | -€3,759 | -24.0% |
| Other operating charges | 640/8 | €1,060 | €2,249 | +€1,189 | +112% |
| Non-recurring operating charges | 66A | €7,017 | - | -€7,017 | |
| Gross operating margin | 9900 | -€7,173 | €40,313 | +€47,486 | |
| Operating profit (loss) | 9901 | -€30,906 | €26,167 | +€57,073 | |
| Financial charges | 65/66B | €223 | €2,431 | +€2,208 | +989% |
| Recurring financial charges | 65 | €223 | €2,431 | +€2,208 | +989% |
| Profit (loss) for the period before taxes | 9903 | -€31,129 | €23,737 | +€54,866 | |
| Income taxes | 67/77 | €1,681 | €997 | -€685 | -40.7% |
| Profit (loss) for the period | 9904 | -€32,810 | €22,740 | +€55,550 | |
| Profit (loss) for the period to be appropriated | 9905 | -€32,810 | €22,740 | +€55,550 |
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 31 October 2026 via checked.be.