Gijs - 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.
Gijs - Cuyvers
Largest movements
- Current investments +€243,298
up €243,298 (+113%), from €214,629 to €457,927
- Receivables within one year -€30,756
down €30,756 (-100%), from €30,756 to €0
- Tangible fixed assets -€26,873
down €26,873 (-6.3%), from €428,625 to €401,752
- Reserves +€277,757
up €277,757 (+57.4%), from €484,110 to €761,867
of which Distributable reserves: +€290,468
- Other debts -€56,705
down €56,705 (-100%), from €56,705 to €0
- Debts after one year -€19,419
down €19,419 (-100%), from €19,419 to €0
- Trade debts -€11,640
down €11,640 (-35.5%), from €32,822 to €21,183
- Current portion of long-term debt -€10,577
down €10,577 (-35.3%), from €29,996 to €19,419
- Gross operating margin +€226,957
up €226,957 (+99.1%), from €229,133 to €456,090
- Staff costs -€136,499
down €136,499 (-83.3%), from €163,868 to €27,369
- Taxes +€121,390
up €121,390 (+890%), from €13,646 to €135,036
- Financial income +€14,239
up €14,239 (+1,406%), from €1,013 to €15,251
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 | €676,984 | €862,841 | +€185,857 | +27.5% |
| Fixed assets | 21/28 | €428,625 | €401,752 | -€26,873 | -6.3% |
| Tangible fixed assets | 22/27 | €428,625 | €401,752 | -€26,873 | -6.3% |
| Land and buildings | 22 | €364,988 | €352,885 | -€12,103 | -3.3% |
| Plant, machinery and equipment | 23 | €10,497 | €8,715 | -€1,782 | -17.0% |
| Furniture and vehicles | 24 | €53,140 | €40,152 | -€12,988 | -24.4% |
| Current assets | 29/58 | €248,360 | €461,090 | +€212,730 | +85.7% |
| Amounts receivable within one year | 40/41 | €30,756 | €0 | -€30,756 | -100% |
| Trade receivables | 40 | €30,756 | €0 | -€30,756 | -100% |
| Current investments | 50/53 | €214,629 | €457,927 | +€243,298 | +113% |
| Cash at bank and in hand | 54/58 | €148 | €1,844 | +€1,696 | +1,146% |
| Deferred charges and accrued income | 490/1 | €2,826 | €1,319 | -€1,508 | -53.3% |
| Total equity and liabilities | 10/49 | €676,984 | €862,841 | +€185,857 | +27.5% |
| Equity | 10/15 | €502,710 | €780,467 | +€277,757 | +55.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €484,110 | €761,867 | +€277,757 | +57.4% |
| Tax-exempt reserves | 132 | €12,711 | €0 | -€12,711 | -100% |
| Distributable reserves | 133 | €471,400 | €761,867 | +€290,468 | +61.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €174,274 | €82,374 | -€91,900 | -52.7% |
| Amounts payable after more than one year | 17 | €19,419 | €0 | -€19,419 | -100% |
| Financial debts | 170/4 | €19,419 | €0 | -€19,419 | -100% |
| Amounts payable within one year | 42/48 | €152,725 | €82,322 | -€70,404 | -46.1% |
| Current portion of amounts payable after more than one year | 42 | €29,996 | €19,419 | -€10,577 | -35.3% |
| Trade debts | 44 | €32,822 | €21,183 | -€11,640 | -35.5% |
| Suppliers | 440/4 | €32,822 | €21,183 | -€11,640 | -35.5% |
| Taxes, remuneration and social security | 45 | €33,202 | €41,720 | +€8,518 | +25.7% |
| Taxes | 450/3 | €16,631 | €39,620 | +€22,989 | +138% |
| Remuneration and social security | 454/9 | €16,571 | €2,100 | -€14,471 | -87.3% |
| Other amounts payable | 47/48 | €56,705 | €0 | -€56,705 | -100% |
| Accrued charges and deferred income | 492/3 | €2,129 | €52 | -€2,077 | -97.5% |
| Non-recurring operating income | 76A | - | €5,740 | +€5,740 | |
| Remuneration, social security and pensions | 62 | €163,868 | €27,369 | -€136,499 | -83.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,242 | €26,873 | -€369 | -1.4% |
| Other operating charges | 640/8 | €3,641 | €3,481 | -€160 | -4.4% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €229,133 | €456,090 | +€226,957 | +99.1% |
| Operating profit (loss) | 9901 | €34,382 | €398,367 | +€363,985 | +1,059% |
| Financial income | 75/76B | €1,013 | €15,251 | +€14,239 | +1,406% |
| Recurring financial income | 75 | €1,013 | €15,251 | +€14,239 | +1,406% |
| Financial charges | 65/66B | €1,749 | €825 | -€923 | -52.8% |
| Recurring financial charges | 65 | €1,749 | €825 | -€923 | -52.8% |
| Profit (loss) for the period before taxes | 9903 | €33,646 | €412,793 | +€379,147 | +1,127% |
| Income taxes | 67/77 | €13,646 | €135,036 | +€121,390 | +890% |
| Profit (loss) for the period | 9904 | €20,000 | €277,757 | +€257,757 | +1,289% |
| Transfer from tax-exempt reserves | 789 | - | €12,711 | +€12,711 | |
| Profit (loss) for the period to be appropriated | 9905 | €20,000 | €290,468 | +€270,468 | +1,352% |
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 26 October 2026 via checked.be.