Reizen De Cauwer: 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.
Reizen De Cauwer
Largest movements
- Deferred charges and accrued income -€39,466
down €39,466 (-4.4%), from €896,966 to €857,501
- Receivables within one year -€25,973
down €25,973 (-5.8%), from €446,150 to €420,177
of which Trade receivables: -€28,352
- Cash -€24,107
down €24,107 (-27.9%), from €86,255 to €62,148
mainly Trade debts (-€119,954) and Debts after one year (-€79,466)
- Trade debts -€119,954
down €119,954 (-46.1%), from €260,037 to €140,083
- Advances received +€88,834
up €88,834 (+13.7%), from €649,486 to €738,321
- Debts after one year -€79,466
down €79,466 (-100%), from €79,466 to €0
- Profit (loss) carried forward +€43,669
up €43,669 (+5.7%), from -€766,341 to -€722,672
- Other debts +€29,146
up €29,146 (+32.5%), from €89,726 to €118,872
- Staff costs -€134,817
down €134,817 (-45.9%), from €293,417 to €158,600
- Gross operating margin -€112,923
down €112,923 (-34.3%), from €329,526 to €216,602
- Financial income +€17,963
up €17,963 (+31,962%), from €56 to €18,019
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 | €1,636,554 | €1,545,323 | -€91,231 | -5.6% |
| Fixed assets | 21/28 | €12,983 | €11,297 | -€1,686 | -13.0% |
| Tangible fixed assets | 22/27 | €5,164 | €3,419 | -€1,745 | -33.8% |
| Land and buildings | 22 | €1,890 | €1,682 | -€208 | -11.0% |
| Plant, machinery and equipment | 23 | €2,148 | €1,077 | -€1,071 | -49.8% |
| Furniture and vehicles | 24 | €1,126 | €660 | -€467 | -41.4% |
| Financial fixed assets | 28 | €7,819 | €7,878 | +€59 | +0.8% |
| Current assets | 29/58 | €1,623,572 | €1,534,026 | -€89,545 | -5.5% |
| Amounts receivable within one year | 40/41 | €446,150 | €420,177 | -€25,973 | -5.8% |
| Trade receivables | 40 | €93,186 | €64,834 | -€28,352 | -30.4% |
| Other amounts receivable | 41 | €352,964 | €355,343 | +€2,379 | +0.7% |
| Current investments | 50/53 | €194,200 | €194,200 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €86,255 | €62,148 | -€24,107 | -27.9% |
| Deferred charges and accrued income | 490/1 | €896,966 | €857,501 | -€39,466 | -4.4% |
| Total equity and liabilities | 10/49 | €1,636,554 | €1,545,323 | -€91,231 | -5.6% |
| Equity | 10/15 | €195,584 | €239,253 | +€43,669 | +22.3% |
| Contributions | 10/11 | €729,750 | €729,750 | = | 0.0% |
| Capital | 10 | €729,750 | €729,750 | = | 0.0% |
| Issued capital | 100 | €729,750 | €729,750 | = | 0.0% |
| Reserves | 13 | €232,175 | €232,175 | = | 0.0% |
| Non-distributable reserves | 130/1 | €232,175 | €232,175 | = | 0.0% |
| Legal reserve | 130 | €37,975 | €37,975 | = | 0.0% |
| Own shares acquired | 1312 | €194,200 | €194,200 | = | 0.0% |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | -€766,341 | -€722,672 | +€43,669 | +5.7% |
| Amounts payable | 17/49 | €1,440,970 | €1,306,070 | -€134,900 | -9.4% |
| Amounts payable after more than one year | 17 | €79,466 | €0 | -€79,466 | -100% |
| Financial debts | 170/4 | €79,466 | €0 | -€79,466 | -100% |
| Amounts payable within one year | 42/48 | €1,258,180 | €1,208,878 | -€49,302 | -3.9% |
| Current portion of amounts payable after more than one year | 42 | €97,207 | €79,466 | -€17,742 | -18.3% |
| Financial debts | 43 | €110,623 | €100,000 | -€10,623 | -9.6% |
| Credit institutions | 430/8 | €110,623 | €100,000 | -€10,623 | -9.6% |
| Trade debts | 44 | €260,037 | €140,083 | -€119,954 | -46.1% |
| Suppliers | 440/4 | €260,037 | €140,083 | -€119,954 | -46.1% |
| Advances received on contracts in progress | 46 | €649,486 | €738,321 | +€88,834 | +13.7% |
| Taxes, remuneration and social security | 45 | €51,100 | €32,137 | -€18,964 | -37.1% |
| Taxes | 450/3 | €10,095 | €11,095 | +€999 | +9.9% |
| Remuneration and social security | 454/9 | €41,005 | €21,042 | -€19,963 | -48.7% |
| Other amounts payable | 47/48 | €89,726 | €118,872 | +€29,146 | +32.5% |
| Accrued charges and deferred income | 492/3 | €103,325 | €97,193 | -€6,132 | -5.9% |
| Non-recurring operating income | 76A | €469 | €0 | -€469 | -100% |
| Remuneration, social security and pensions | 62 | €293,417 | €158,600 | -€134,817 | -45.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,149 | €1,745 | -€404 | -18.8% |
| Other operating charges | 640/8 | €1,643 | €1,636 | -€7 | -0.4% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €329,526 | €216,602 | -€112,923 | -34.3% |
| Operating profit (loss) | 9901 | €32,316 | €54,621 | +€22,304 | +69.0% |
| Financial income | 75/76B | €56 | €18,019 | +€17,963 | +31,962% |
| Recurring financial income | 75 | €56 | €18,019 | +€17,963 | +31,962% |
| Financial charges | 65/66B | €29,113 | €28,971 | -€142 | -0.5% |
| Recurring financial charges | 65 | €29,113 | €28,971 | -€142 | -0.5% |
| Profit (loss) for the period before taxes | 9903 | €3,260 | €43,669 | +€40,409 | +1,240% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | €3,260 | €43,669 | +€40,409 | +1,240% |
| Profit (loss) for the period to be appropriated | 9905 | €3,260 | €43,669 | +€40,409 | +1,240% |
Source: filed annual accounts (NBB), financial years ended 30 December 2024 and 30 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.