Kamiel Van Herzeele: what changed
Kamiel Van Herzeele
Largest movements
- Receivables within one year +€81,316
up €81,316 (+478%), from €17,021 to €98,337
of which Trade receivables: +€73,635
- Cash -€26,803
down €26,803 (-45.4%), from €59,016 to €32,212
mainly Receivables within one year (-€81,316) and Investment in fixed assets (net) (-€22,026)
- Tangible fixed assets -€9,797
down €9,797 (-10.5%), from €93,546 to €83,750
of which Leasing and similar rights: -€13,560
- Profit (loss) carried forward +€37,070
up €37,070 (+57.0%), from €65,066 to €102,136
- Debts after one year -€14,928
down €14,928 (-70.6%), from €21,155 to €6,227
- Tax, wage and social debts +€13,727
up €13,727 (+66.8%), from €20,548 to €34,276
of which Taxes: +€12,400
- Trade debts +€5,071
up €5,071 (+22.6%), from €22,470 to €27,541
- Staff costs +€48,398
new in 2024: €48,398
- Gross operating margin +€37,987
up €37,987 (+39.4%), from €96,496 to €134,483
- Depreciation +€7,444
up €7,444 (+29.4%), from €25,350 to €32,793
- Taxes -€4,848
down €4,848 (-28.1%), from €17,248 to €12,400
- Financial charges +€2,603
up €2,603 (+204%), from €1,278 to €3,881
Change in the result, 2023 to 2024
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2023 and 2024 balance sheets and the 2024 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €174,113 | €216,643 | +€42,530 | +24.4% |
| Fixed assets | 21/28 | €96,387 | €85,620 | -€10,767 | -11.2% |
| Intangible fixed assets | 21 | €2,841 | €1,870 | -€970 | -34.2% |
| Tangible fixed assets | 22/27 | €93,546 | €83,750 | -€9,797 | -10.5% |
| Plant, machinery and equipment | 23 | €22,588 | €17,516 | -€5,073 | -22.5% |
| Furniture and vehicles | 24 | €33,654 | €42,490 | +€8,836 | +26.3% |
| Leasing and similar rights | 25 | €37,304 | €23,744 | -€13,560 | -36.3% |
| Current assets | 29/58 | €77,726 | €131,023 | +€53,297 | +68.6% |
| Amounts receivable within one year | 40/41 | €17,021 | €98,337 | +€81,316 | +478% |
| Trade receivables | 40 | €4,006 | €77,640 | +€73,635 | +1,838% |
| Other amounts receivable | 41 | €13,016 | €20,697 | +€7,681 | +59.0% |
| Cash at bank and in hand | 54/58 | €59,016 | €32,212 | -€26,803 | -45.4% |
| Deferred charges and accrued income | 490/1 | €1,689 | €474 | -€1,215 | -71.9% |
| Total equity and liabilities | 10/49 | €174,113 | €216,643 | +€42,530 | +24.4% |
| Equity | 10/15 | €70,066 | €107,136 | +€37,070 | +52.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €65,066 | €102,136 | +€37,070 | +57.0% |
| Amounts payable | 17/49 | €104,047 | €109,507 | +€5,460 | +5.2% |
| Amounts payable after more than one year | 17 | €21,155 | €6,227 | -€14,928 | -70.6% |
| Financial debts | 170/4 | €21,155 | €6,227 | -€14,928 | -70.6% |
| Amounts payable within one year | 42/48 | €82,893 | €103,281 | +€20,388 | +24.6% |
| Current portion of amounts payable after more than one year | 42 | €14,521 | €15,187 | +€667 | +4.6% |
| Trade debts | 44 | €22,470 | €27,541 | +€5,071 | +22.6% |
| Suppliers | 440/4 | €22,470 | €27,541 | +€5,071 | +22.6% |
| Taxes, remuneration and social security | 45 | €20,548 | €34,276 | +€13,727 | +66.8% |
| Taxes | 450/3 | €17,248 | €29,648 | +€12,400 | +71.9% |
| Remuneration and social security | 454/9 | €3,300 | €4,627 | +€1,327 | +40.2% |
| Other amounts payable | 47/48 | €25,354 | €26,276 | +€923 | +3.6% |
| Remuneration, social security and pensions | 62 | - | €48,398 | +€48,398 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,350 | €32,793 | +€7,444 | +29.4% |
| Other operating charges | 640/8 | €363 | €497 | +€133 | +36.8% |
| Gross operating margin | 9900 | €96,496 | €134,483 | +€37,987 | +39.4% |
| Operating profit (loss) | 9901 | €70,783 | €52,795 | -€17,988 | -25.4% |
| Financial income | 75/76B | €290 | €556 | +€266 | +91.6% |
| Recurring financial income | 75 | €290 | €556 | +€266 | +91.6% |
| Financial charges | 65/66B | €1,278 | €3,881 | +€2,603 | +204% |
| Recurring financial charges | 65 | €1,278 | €3,881 | +€2,603 | +204% |
| Profit (loss) for the period before taxes | 9903 | €69,795 | €49,470 | -€20,325 | -29.1% |
| Income taxes | 67/77 | €17,248 | €12,400 | -€4,848 | -28.1% |
| Profit (loss) for the period | 9904 | €52,547 | €37,070 | -€15,477 | -29.5% |
| Profit (loss) for the period to be appropriated | 9905 | €52,547 | €37,070 | -€15,477 | -29.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.