De Cauw: 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.
De Cauw
Largest movements
- Tangible fixed assets -€14,268
down €14,268 (-29.2%), from €48,881 to €34,613
of which Furniture and vehicles: -€13,308
- Cash +€6,115
up €6,115 (+61.4%), from €9,960 to €16,075
mainly Depreciation (+€14,268) and Net result for the year (+€6,185)
- Receivables within one year +€2,846
up €2,846 (+1,706%), from €167 to €3,013
of which Trade receivables: +€2,976
- Other debts -€7,992
down €7,992 (-9.9%), from €80,667 to €72,675
- Profit (loss) carried forward +€6,185
up €6,185 (+16.0%), from -€38,584 to -€32,399
- Advances received -€1,800
down €1,800 (-100%), from €1,800 to €0
- Trade debts -€1,036
down €1,036 (-100%), from €1,036 to €0
- Gross operating margin +€18,144
up €18,144 (+459%), from €3,952 to €22,096
- Depreciation -€1,891
down €1,891 (-11.7%), from €16,160 to €14,268
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 | €63,873 | €59,344 | -€4,529 | -7.1% |
| Fixed assets | 21/28 | €48,881 | €34,613 | -€14,268 | -29.2% |
| Tangible fixed assets | 22/27 | €48,881 | €34,613 | -€14,268 | -29.2% |
| Plant, machinery and equipment | 23 | €1,067 | €107 | -€960 | -90.0% |
| Furniture and vehicles | 24 | €47,814 | €34,506 | -€13,308 | -27.8% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €14,992 | €24,731 | +€9,739 | +65.0% |
| Stocks and contracts in progress | 3 | €1,482 | €2,113 | +€630 | +42.5% |
| Stocks | 30/36 | €1,482 | €2,113 | +€630 | +42.5% |
| Amounts receivable within one year | 40/41 | €167 | €3,013 | +€2,846 | +1,706% |
| Trade receivables | 40 | €38 | €3,013 | +€2,976 | +7,926% |
| Other amounts receivable | 41 | €129 | €0 | -€129 | -100% |
| Cash at bank and in hand | 54/58 | €9,960 | €16,075 | +€6,115 | +61.4% |
| Deferred charges and accrued income | 490/1 | €3,383 | €3,531 | +€148 | +4.4% |
| Total equity and liabilities | 10/49 | €63,873 | €59,344 | -€4,529 | -7.1% |
| Equity | 10/15 | -€19,881 | -€13,696 | +€6,185 | +31.1% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €12,506 | €12,506 | = | 0.0% |
| Distributable reserves | 133 | €12,506 | €12,506 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€38,584 | -€32,399 | +€6,185 | +16.0% |
| Amounts payable | 17/49 | €83,754 | €73,040 | -€10,714 | -12.8% |
| Amounts payable within one year | 42/48 | €83,754 | €73,040 | -€10,714 | -12.8% |
| Trade debts | 44 | €1,036 | €0 | -€1,036 | -100% |
| Suppliers | 440/4 | €1,036 | €0 | -€1,036 | -100% |
| Advances received on contracts in progress | 46 | €1,800 | €0 | -€1,800 | -100% |
| Taxes, remuneration and social security | 45 | €250 | €365 | +€115 | +45.9% |
| Taxes | 450/3 | €250 | €365 | +€115 | +45.9% |
| Other amounts payable | 47/48 | €80,667 | €72,675 | -€7,992 | -9.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,160 | €14,268 | -€1,891 | -11.7% |
| Other operating charges | 640/8 | €1,478 | €1,424 | -€54 | -3.6% |
| Gross operating margin | 9900 | €3,952 | €22,096 | +€18,144 | +459% |
| Operating profit (loss) | 9901 | -€13,686 | €6,404 | +€20,089 | |
| Financial income | 75/76B | €83 | €87 | +€4 | +4.5% |
| Recurring financial income | 75 | €83 | €87 | +€4 | +4.5% |
| Financial charges | 65/66B | €271 | €75 | -€196 | -72.2% |
| Recurring financial charges | 65 | €271 | €75 | -€196 | -72.2% |
| Profit (loss) for the period before taxes | 9903 | -€13,874 | €6,415 | +€20,289 | |
| Income taxes | 67/77 | €316 | €230 | -€86 | -27.2% |
| Profit (loss) for the period | 9904 | -€14,190 | €6,185 | +€20,375 | |
| Profit (loss) for the period to be appropriated | 9905 | -€14,190 | €6,185 | +€20,375 |
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 15 October 2026 via checked.be.