Mario De Cauwer: what changed
Mario De Cauwer
Largest movements
- Stocks and contracts -€240,793
down €240,793 (-60.0%), from €401,322 to €160,529
- Cash +€196,420
up €196,420 (+2,088%), from €9,408 to €205,828
mainly Stocks and contracts (+€240,793) and Net result for the year (+€115,871)
- Other debts -€165,263
down €165,263 (-34.9%), from €474,017 to €308,755
- Profit (loss) carried forward +€71,805
no longer reported in 2025 (was -€71,805)
- Reserves +€44,066
new in 2025: €44,066
- Tax, wage and social debts +€6,131
new in 2025: €6,131
- Gross operating margin +€141,687
up €141,687, from -€957 to €140,730
- Taxes +€21,131
new in 2025: €21,131
- Financial charges -€8,759
down €8,759 (-73.7%), from €11,878 to €3,119
Change in the result, 2024 to 2025
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 2024 and 2025 balance sheets and the 2025 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 | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €410,730 | €367,220 | -€43,510 | -10.6% |
| Formation expenses | 20 | - | €0 | = | |
| Current assets | 29/58 | €410,730 | €367,220 | -€43,510 | -10.6% |
| Stocks and contracts in progress | 3 | €401,322 | €160,529 | -€240,793 | -60.0% |
| Stocks | 30/36 | €401,322 | €160,529 | -€240,793 | -60.0% |
| Amounts receivable within one year | 40/41 | - | €863 | +€863 | |
| Trade receivables | 40 | - | €863 | +€863 | |
| Cash at bank and in hand | 54/58 | €9,408 | €205,828 | +€196,420 | +2,088% |
| Total equity and liabilities | 10/49 | €410,730 | €367,220 | -€43,510 | -10.6% |
| Equity | 10/15 | -€66,805 | €49,066 | +€115,871 | |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | - | €44,066 | +€44,066 | |
| Distributable reserves | 133 | - | €44,066 | +€44,066 | |
| Profit (loss) carried forward | 14 | -€71,805 | - | +€71,805 | |
| Amounts payable | 17/49 | €477,535 | €318,154 | -€159,381 | -33.4% |
| Amounts payable within one year | 42/48 | €474,017 | €315,148 | -€158,869 | -33.5% |
| Trade debts | 44 | - | €262 | +€262 | |
| Suppliers | 440/4 | - | €262 | +€262 | |
| Taxes, remuneration and social security | 45 | - | €6,131 | +€6,131 | |
| Taxes | 450/3 | - | €6,131 | +€6,131 | |
| Other amounts payable | 47/48 | €474,017 | €308,755 | -€165,263 | -34.9% |
| Accrued charges and deferred income | 492/3 | €3,518 | €3,007 | -€511 | -14.5% |
| Other operating charges | 640/8 | €1,843 | €610 | -€1,233 | -66.9% |
| Gross operating margin | 9900 | -€957 | €140,730 | +€141,687 | |
| Operating profit (loss) | 9901 | -€2,799 | €140,121 | +€142,920 | |
| Financial charges | 65/66B | €11,878 | €3,119 | -€8,759 | -73.7% |
| Recurring financial charges | 65 | €11,878 | €3,119 | -€8,759 | -73.7% |
| Profit (loss) for the period before taxes | 9903 | -€14,677 | €137,001 | +€151,679 | |
| Income taxes | 67/77 | - | €21,131 | +€21,131 | |
| Profit (loss) for the period | 9904 | -€14,677 | €115,871 | +€130,548 | |
| Profit (loss) for the period to be appropriated | 9905 | -€14,677 | €115,871 | +€130,548 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.