Niels Vandecasteele: what changed
Niels Vandecasteele
Largest movements
- Cash -€96,043
down €96,043 (-69.8%), from €137,650 to €41,607
mainly Other debts (-€70,060) and Investment in fixed assets (net) (-€54,952)
- Tangible fixed assets +€48,737
up €48,737 (+443%), from €10,993 to €59,730
of which Other tangible fixed assets: +€25,036
- Receivables within one year +€8,908
up €8,908 (+34.9%), from €25,491 to €34,399
of which Other amounts receivable: +€7,353
- Deferred charges and accrued income +€2,635
up €2,635 (+199%), from €1,325 to €3,960
- Other debts -€70,060
down €70,060 (-76.0%), from €92,176 to €22,116
- Reserves +€33,155
up €33,155 (+56.3%), from €58,849 to €92,004
- Gross operating margin +€5,548
up €5,548 (+10.0%), from €55,267 to €60,815
- Depreciation +€4,788
up €4,788 (+336%), from €1,427 to €6,215
- Taxes +€802
up €802 (+6.8%), from €11,843 to €12,645
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 | €175,457 | €139,695 | -€35,762 | -20.4% |
| Fixed assets | 21/28 | €10,993 | €59,730 | +€48,737 | +443% |
| Tangible fixed assets | 22/27 | €10,993 | €59,730 | +€48,737 | +443% |
| Furniture and vehicles | 24 | €10,993 | €34,694 | +€23,701 | +216% |
| Other tangible fixed assets | 26 | - | €25,036 | +€25,036 | |
| Current assets | 29/58 | €164,465 | €79,966 | -€84,499 | -51.4% |
| Amounts receivable within one year | 40/41 | €25,491 | €34,399 | +€8,908 | +34.9% |
| Trade receivables | 40 | €25,491 | €27,046 | +€1,555 | +6.1% |
| Other amounts receivable | 41 | - | €7,353 | +€7,353 | |
| Cash at bank and in hand | 54/58 | €137,650 | €41,607 | -€96,043 | -69.8% |
| Deferred charges and accrued income | 490/1 | €1,325 | €3,960 | +€2,635 | +199% |
| Total equity and liabilities | 10/49 | €175,457 | €139,695 | -€35,762 | -20.4% |
| Equity | 10/15 | €61,349 | €94,504 | +€33,155 | +54.0% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €58,849 | €92,004 | +€33,155 | +56.3% |
| Distributable reserves | 133 | €58,849 | €92,004 | +€33,155 | +56.3% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €114,109 | €45,191 | -€68,917 | -60.4% |
| Amounts payable within one year | 42/48 | €114,109 | €45,191 | -€68,917 | -60.4% |
| Trade debts | 44 | €647 | €2,132 | +€1,486 | +230% |
| Suppliers | 440/4 | €647 | €2,132 | +€1,486 | +230% |
| Taxes, remuneration and social security | 45 | €21,286 | €20,943 | -€343 | -1.6% |
| Taxes | 450/3 | €21,286 | €19,143 | -€2,143 | -10.1% |
| Remuneration and social security | 454/9 | - | €1,800 | +€1,800 | |
| Other amounts payable | 47/48 | €92,176 | €22,116 | -€70,060 | -76.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,427 | €6,215 | +€4,788 | +336% |
| Other operating charges | 640/8 | €574 | €588 | +€14 | +2.4% |
| Non-recurring operating charges | 66A | - | €7,709 | +€7,709 | |
| Gross operating margin | 9900 | €55,267 | €60,815 | +€5,548 | +10.0% |
| Operating profit (loss) | 9901 | €53,266 | €46,303 | -€6,963 | -13.1% |
| Financial income | 75/76B | €12 | €399 | +€387 | +3,238% |
| Recurring financial income | 75 | €12 | €399 | +€387 | +3,238% |
| Financial charges | 65/66B | €219 | €69 | -€151 | -68.7% |
| Recurring financial charges | 65 | €219 | €69 | -€151 | -68.7% |
| Profit (loss) for the period before taxes | 9903 | €53,058 | €46,633 | -€6,425 | -12.1% |
| Income taxes | 67/77 | €11,843 | €12,645 | +€802 | +6.8% |
| Profit (loss) for the period | 9904 | €41,216 | €33,988 | -€7,227 | -17.5% |
| Profit (loss) for the period to be appropriated | 9905 | €41,216 | €33,988 | -€7,227 | -17.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.