Els Van Poucke: 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.
Els Van Poucke
Largest movements
- Cash -€74,245
down €74,245 (-34.2%), from €216,958 to €142,713
mainly Contributions, distributions and other (-€286,796) and Investment in fixed assets (net) (-€10,543)
- Reserves -€80,608
down €80,608 (-43.2%), from €186,796 to €106,188
- Tax, wage and social debts +€10,369
up €10,369 (+31.5%), from €32,963 to €43,332
- Current portion of long-term debt -€2,793
down €2,793 (-100%), from €2,793 to €0
- Gross operating margin +€24,539
up €24,539 (+9.6%), from €255,174 to €279,713
- Taxes +€6,576
up €6,576 (+11.4%), from €57,585 to €64,161
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 | €247,375 | €174,217 | -€73,158 | -29.6% |
| Fixed assets | 21/28 | €23,931 | €26,104 | +€2,173 | +9.1% |
| Tangible fixed assets | 22/27 | €23,668 | €26,104 | +€2,436 | +10.3% |
| Plant, machinery and equipment | 23 | €634 | €3,321 | +€2,687 | +424% |
| Furniture and vehicles | 24 | €23,034 | €22,783 | -€252 | -1.1% |
| Financial fixed assets | 28 | €263 | €0 | -€263 | -100% |
| Current assets | 29/58 | €223,444 | €148,113 | -€75,331 | -33.7% |
| Amounts receivable within one year | 40/41 | €955 | €209 | -€746 | -78.1% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €955 | €209 | -€746 | -78.1% |
| Cash at bank and in hand | 54/58 | €216,958 | €142,713 | -€74,245 | -34.2% |
| Deferred charges and accrued income | 490/1 | €5,531 | €5,191 | -€340 | -6.1% |
| Total equity and liabilities | 10/49 | €247,375 | €174,217 | -€73,158 | -29.6% |
| Equity | 10/15 | €206,796 | €126,188 | -€80,608 | -39.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €186,796 | €106,188 | -€80,608 | -43.2% |
| Distributable reserves | 133 | €186,796 | €106,188 | -€80,608 | -43.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €40,579 | €48,029 | +€7,451 | +18.4% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €40,579 | €48,029 | +€7,451 | +18.4% |
| Current portion of amounts payable after more than one year | 42 | €2,793 | €0 | -€2,793 | -100% |
| Financial debts | 43 | €10 | €4 | -€6 | -55.4% |
| Credit institutions | 430/8 | €10 | €4 | -€6 | -55.4% |
| Trade debts | 44 | €698 | €2,739 | +€2,042 | +293% |
| Suppliers | 440/4 | €698 | €2,739 | +€2,042 | +293% |
| Taxes, remuneration and social security | 45 | €32,963 | €43,332 | +€10,369 | +31.5% |
| Taxes | 450/3 | €32,963 | €43,332 | +€10,369 | +31.5% |
| Other amounts payable | 47/48 | €4,115 | €1,954 | -€2,161 | -52.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,012 | €8,370 | -€2,642 | -24.0% |
| Other operating charges | 640/8 | €650 | €673 | +€23 | +3.6% |
| Gross operating margin | 9900 | €255,174 | €279,713 | +€24,539 | +9.6% |
| Operating profit (loss) | 9901 | €243,512 | €270,670 | +€27,158 | +11.2% |
| Financial income | 75/76B | €1,040 | €0 | -€1,040 | -100.0% |
| Recurring financial income | 75 | €1,040 | €0 | -€1,040 | -100.0% |
| Financial charges | 65/66B | €172 | €321 | +€149 | +87.0% |
| Recurring financial charges | 65 | €172 | €321 | +€149 | +87.0% |
| Profit (loss) for the period before taxes | 9903 | €244,381 | €270,349 | +€25,968 | +10.6% |
| Income taxes | 67/77 | €57,585 | €64,161 | +€6,576 | +11.4% |
| Profit (loss) for the period | 9904 | €186,796 | €206,188 | +€19,392 | +10.4% |
| Profit (loss) for the period to be appropriated | 9905 | €186,796 | €206,188 | +€19,392 | +10.4% |
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 28 October 2026 via checked.be.