Maarten Van Hulle: 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.
Maarten Van Hulle
Largest movements
- Cash -€7,339
down €7,339 (-35.2%), from €20,837 to €13,499
mainly Receivables within one year (-€3,417) and Tax, wage and social debts (-€1,695)
- Receivables within one year +€3,417
up €3,417 (+18.2%), from €18,778 to €22,194
of which Other amounts receivable: +€3,500
- Tax, wage and social debts -€1,695
down €1,695 (-25.2%), from €6,737 to €5,042
of which Remuneration and social security: -€1,800
- Reserves -€1,438
down €1,438 (-4.8%), from €29,880 to €28,442
- Other debts -€789
down €789 (-79.1%), from €998 to €209
- Gross operating margin -€18,209
down €18,209, from €17,313 to -€896
- Taxes -€3,481
no longer reported in 2025 (was €3,481)
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 | €39,615 | €35,693 | -€3,922 | -9.9% |
| Current assets | 29/58 | €39,615 | €35,693 | -€3,922 | -9.9% |
| Amounts receivable within one year | 40/41 | €18,778 | €22,194 | +€3,417 | +18.2% |
| Trade receivables | 40 | €18,778 | €18,694 | -€83 | -0.4% |
| Other amounts receivable | 41 | - | €3,500 | +€3,500 | |
| Cash at bank and in hand | 54/58 | €20,837 | €13,499 | -€7,339 | -35.2% |
| Total equity and liabilities | 10/49 | €39,615 | €35,693 | -€3,922 | -9.9% |
| Equity | 10/15 | €31,880 | €30,442 | -€1,438 | -4.5% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €29,880 | €28,442 | -€1,438 | -4.8% |
| Distributable reserves | 133 | €29,880 | €28,442 | -€1,438 | -4.8% |
| Amounts payable | 17/49 | €7,735 | €5,251 | -€2,484 | -32.1% |
| Amounts payable within one year | 42/48 | €7,735 | €5,251 | -€2,484 | -32.1% |
| Taxes, remuneration and social security | 45 | €6,737 | €5,042 | -€1,695 | -25.2% |
| Taxes | 450/3 | €4,937 | €5,042 | +€105 | +2.1% |
| Remuneration and social security | 454/9 | €1,800 | - | -€1,800 | |
| Other amounts payable | 47/48 | €998 | €209 | -€789 | -79.1% |
| Other operating charges | 640/8 | €451 | €465 | +€14 | +3.2% |
| Gross operating margin | 9900 | €17,313 | -€896 | -€18,209 | |
| Operating profit (loss) | 9901 | €16,862 | -€1,361 | -€18,223 | |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €70 | €77 | +€8 | +11.0% |
| Recurring financial charges | 65 | €70 | €77 | +€8 | +11.0% |
| Profit (loss) for the period before taxes | 9903 | €16,793 | -€1,438 | -€18,231 | |
| Income taxes | 67/77 | €3,481 | - | -€3,481 | |
| Profit (loss) for the period | 9904 | €13,311 | -€1,438 | -€14,749 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,311 | -€1,438 | -€14,749 |
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 31 October 2026 via checked.be.