Carl Van de Velde: 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.
Carl Van de Velde
Largest movements
- Cash -€396,583
down €396,583 (-73.5%), from €539,342 to €142,759
mainly Net result for the year (-€238,442) and Tax, wage and social debts (-€118,628)
- Tangible fixed assets +€33,134
new in 2025: €33,134
- Receivables within one year +€9,508
up €9,508 (+12.9%), from €73,966 to €83,474
of which Other amounts receivable: +€48,190
- Profit (loss) carried forward -€238,442
down €238,442 (-59.0%), from €403,812 to €165,370
- Tax, wage and social debts -€118,628
down €118,628 (-97.8%), from €121,271 to €2,642
of which Taxes: -€120,596
- Trade debts +€7,600
up €7,600 (+8.9%), from €85,225 to €92,825
- Gross operating margin -€424,344
down €424,344, from €222,403 to -€201,941
- Taxes -€50,560
no longer reported in 2025 (was €50,560)
- Staff costs +€31,148
new in 2025: €31,148
- Depreciation +€4,861
new in 2025: €4,861
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 | €613,307 | €263,837 | -€349,470 | -57.0% |
| Fixed assets | 21/28 | - | €37,334 | +€37,334 | |
| Tangible fixed assets | 22/27 | - | €33,134 | +€33,134 | |
| Furniture and vehicles | 24 | - | €33,134 | +€33,134 | |
| Financial fixed assets | 28 | - | €4,200 | +€4,200 | |
| Current assets | 29/58 | €613,307 | €226,503 | -€386,804 | -63.1% |
| Amounts receivable within one year | 40/41 | €73,966 | €83,474 | +€9,508 | +12.9% |
| Trade receivables | 40 | €70,047 | €31,364 | -€38,682 | -55.2% |
| Other amounts receivable | 41 | €3,919 | €52,110 | +€48,190 | +1,230% |
| Cash at bank and in hand | 54/58 | €539,342 | €142,759 | -€396,583 | -73.5% |
| Deferred charges and accrued income | 490/1 | - | €270 | +€270 | |
| Total equity and liabilities | 10/49 | €613,307 | €263,837 | -€349,470 | -57.0% |
| Equity | 10/15 | €406,812 | €168,370 | -€238,442 | -58.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €403,812 | €165,370 | -€238,442 | -59.0% |
| Amounts payable | 17/49 | €206,496 | €95,467 | -€111,028 | -53.8% |
| Amounts payable within one year | 42/48 | €206,496 | €95,467 | -€111,028 | -53.8% |
| Trade debts | 44 | €85,225 | €92,825 | +€7,600 | +8.9% |
| Suppliers | 440/4 | €85,225 | €92,825 | +€7,600 | +8.9% |
| Taxes, remuneration and social security | 45 | €121,271 | €2,642 | -€118,628 | -97.8% |
| Taxes | 450/3 | €121,271 | €674 | -€120,596 | -99.4% |
| Remuneration and social security | 454/9 | - | €1,968 | +€1,968 | |
| Remuneration, social security and pensions | 62 | - | €31,148 | +€31,148 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €4,861 | +€4,861 | |
| Other operating charges | 640/8 | €118 | €434 | +€316 | +267% |
| Gross operating margin | 9900 | €222,403 | -€201,941 | -€424,344 | |
| Operating profit (loss) | 9901 | €222,285 | -€238,384 | -€460,668 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €46 | €58 | +€12 | +26.0% |
| Recurring financial charges | 65 | €46 | €58 | +€12 | +26.0% |
| Profit (loss) for the period before taxes | 9903 | €222,239 | -€238,442 | -€460,680 | |
| Income taxes | 67/77 | €50,560 | - | -€50,560 | |
| Profit (loss) for the period | 9904 | €171,679 | -€238,442 | -€410,121 | |
| Profit (loss) for the period to be appropriated | 9905 | €171,679 | -€238,442 | -€410,121 |
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 29 October 2026 via checked.be.