Chris Cuyvers: 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.
Chris Cuyvers
Largest movements
- Tangible fixed assets -€11,532
down €11,532 (-7.9%), from €145,764 to €134,232
of which Furniture and vehicles: -€12,171
- Deferred charges and accrued income -€5,265
down €5,265 (-79.5%), from €6,622 to €1,357
- Stocks and contracts -€4,990
down €4,990 (-76.0%), from €6,565 to €1,575
of which Contracts in progress: -€5,115
- Cash -€4,790
down €4,790 (-12.8%), from €37,450 to €32,660
mainly Investment in fixed assets (net) (-€16,203) and Current portion of long-term debt (-€13,567)
- Receivables within one year +€4,220
up €4,220 (+31.8%), from €13,278 to €17,498
of which Trade receivables: +€7,795
- Current portion of long-term debt -€13,567
down €13,567 (-100%), from €13,567 to €0
- Profit (loss) carried forward -€7,027
down €7,027, from €0 to -€7,027
- Gross operating margin -€66,776
down €66,776 (-75.1%), from €88,895 to €22,118
- Taxes -€10,180
down €10,180 (-100%), from €10,180 to €0
- Financial charges -€1,022
down €1,022 (-60.2%), from €1,697 to €675
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 | €209,679 | €187,322 | -€22,356 | -10.7% |
| Fixed assets | 21/28 | €145,764 | €134,232 | -€11,532 | -7.9% |
| Tangible fixed assets | 22/27 | €145,764 | €134,232 | -€11,532 | -7.9% |
| Plant, machinery and equipment | 23 | €19,396 | €20,035 | +€639 | +3.3% |
| Furniture and vehicles | 24 | €126,368 | €114,197 | -€12,171 | -9.6% |
| Current assets | 29/58 | €63,915 | €53,090 | -€10,825 | -16.9% |
| Stocks and contracts in progress | 3 | €6,565 | €1,575 | -€4,990 | -76.0% |
| Stocks | 30/36 | €1,450 | €1,575 | +€125 | +8.6% |
| Contracts in progress | 37 | €5,115 | €0 | -€5,115 | -100% |
| Amounts receivable within one year | 40/41 | €13,278 | €17,498 | +€4,220 | +31.8% |
| Trade receivables | 40 | €7,577 | €15,372 | +€7,795 | +103% |
| Other amounts receivable | 41 | €5,702 | €2,126 | -€3,575 | -62.7% |
| Cash at bank and in hand | 54/58 | €37,450 | €32,660 | -€4,790 | -12.8% |
| Deferred charges and accrued income | 490/1 | €6,622 | €1,357 | -€5,265 | -79.5% |
| Total equity and liabilities | 10/49 | €209,679 | €187,322 | -€22,356 | -10.7% |
| Equity | 10/15 | €58,651 | €51,625 | -€7,027 | -12.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €40,051 | €40,051 | = | 0.0% |
| Distributable reserves | 133 | €40,051 | €40,051 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | -€7,027 | -€7,027 | |
| Amounts payable | 17/49 | €151,027 | €135,698 | -€15,330 | -10.2% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €151,027 | €135,698 | -€15,330 | -10.2% |
| Current portion of amounts payable after more than one year | 42 | €13,567 | €0 | -€13,567 | -100% |
| Trade debts | 44 | €1,611 | €0 | -€1,611 | -100% |
| Suppliers | 440/4 | €1,611 | €0 | -€1,611 | -100% |
| Taxes, remuneration and social security | 45 | €2,287 | €2,437 | +€150 | +6.6% |
| Taxes | 450/3 | €2,287 | €2,437 | +€150 | +6.6% |
| Other amounts payable | 47/48 | €133,562 | €133,260 | -€302 | -0.2% |
| Non-recurring operating income | 76A | €48,253 | €0 | -€48,253 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,154 | €27,735 | +€581 | +2.1% |
| Other operating charges | 640/8 | €758 | €902 | +€144 | +19.0% |
| Gross operating margin | 9900 | €88,895 | €22,118 | -€66,776 | -75.1% |
| Operating profit (loss) | 9901 | €60,983 | -€6,518 | -€67,501 | |
| Financial income | 75/76B | €0 | €166 | +€166 | |
| Recurring financial income | 75 | €0 | €166 | +€166 | |
| Financial charges | 65/66B | €1,697 | €675 | -€1,022 | -60.2% |
| Recurring financial charges | 65 | €1,697 | €675 | -€1,022 | -60.2% |
| Profit (loss) for the period before taxes | 9903 | €59,287 | -€7,027 | -€66,314 | |
| Income taxes | 67/77 | €10,180 | €0 | -€10,180 | -100% |
| Profit (loss) for the period | 9904 | €49,107 | -€7,027 | -€56,134 | |
| Profit (loss) for the period to be appropriated | 9905 | €49,107 | -€7,027 | -€56,134 |
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 17 October 2026 via checked.be.