Stéphane Van den Bossche: what changed
Stéphane Van den Bossche
Largest movements
- Receivables within one year -€40,474
down €40,474 (-74.3%), from €54,470 to €13,996
of which Trade receivables: -€50,000
- Tangible fixed assets -€33,037
down €33,037 (-9.1%), from €363,409 to €330,372
- Cash -€27,604
down €27,604 (-35.5%), from €77,671 to €50,067
mainly Contributions, distributions and other (-€116,000) and Debts after one year (-€58,899)
- Debts after one year -€58,899
down €58,899 (-14.1%), from €417,538 to €358,638
- Profit (loss) carried forward -€53,079
down €53,079 (-45.1%), from €117,757 to €64,678
- Other debts +€50,900
up €50,900 (+16.7%), from €304,062 to €354,962
- Current portion of long-term debt -€25,027
down €25,027 (-29.8%), from €83,926 to €58,899
- Tax, wage and social debts -€14,987
down €14,987 (-30.2%), from €49,702 to €34,715
of which Taxes: -€16,487
- Gross operating margin -€78,152
down €78,152 (-38.1%), from €204,862 to €126,710
- Taxes -€23,854
down €23,854 (-50.9%), from €46,894 to €23,040
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 | €995,550 | €894,434 | -€101,116 | -10.2% |
| Fixed assets | 21/28 | €863,409 | €830,372 | -€33,037 | -3.8% |
| Tangible fixed assets | 22/27 | €363,409 | €330,372 | -€33,037 | -9.1% |
| Other tangible fixed assets | 26 | €363,409 | €330,372 | -€33,037 | -9.1% |
| Financial fixed assets | 28 | €500,000 | €500,000 | = | 0.0% |
| Current assets | 29/58 | €132,141 | €64,062 | -€68,078 | -51.5% |
| Amounts receivable within one year | 40/41 | €54,470 | €13,996 | -€40,474 | -74.3% |
| Trade receivables | 40 | €50,000 | - | -€50,000 | |
| Other amounts receivable | 41 | €4,470 | €13,996 | +€9,526 | +213% |
| Cash at bank and in hand | 54/58 | €77,671 | €50,067 | -€27,604 | -35.5% |
| Total equity and liabilities | 10/49 | €995,550 | €894,434 | -€101,116 | -10.2% |
| Equity | 10/15 | €138,513 | €85,434 | -€53,079 | -38.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,156 | €2,156 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €296 | €296 | = | 0.0% |
| Profit (loss) carried forward | 14 | €117,757 | €64,678 | -€53,079 | -45.1% |
| Amounts payable | 17/49 | €857,037 | €809,001 | -€48,037 | -5.6% |
| Amounts payable after more than one year | 17 | €417,538 | €358,638 | -€58,899 | -14.1% |
| Financial debts | 170/4 | €417,538 | €358,638 | -€58,899 | -14.1% |
| Amounts payable within one year | 42/48 | €439,500 | €450,362 | +€10,863 | +2.5% |
| Current portion of amounts payable after more than one year | 42 | €83,926 | €58,899 | -€25,027 | -29.8% |
| Trade debts | 44 | €1,809 | €1,785 | -€24 | -1.3% |
| Suppliers | 440/4 | €1,809 | €1,785 | -€24 | -1.3% |
| Taxes, remuneration and social security | 45 | €49,702 | €34,715 | -€14,987 | -30.2% |
| Taxes | 450/3 | €48,952 | €32,465 | -€16,487 | -33.7% |
| Remuneration and social security | 454/9 | €750 | €2,250 | +€1,500 | +200% |
| Other amounts payable | 47/48 | €304,062 | €354,962 | +€50,900 | +16.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,037 | €33,037 | = | 0.0% |
| Other operating charges | 640/8 | €528 | €1,700 | +€1,172 | +222% |
| Gross operating margin | 9900 | €204,862 | €126,710 | -€78,152 | -38.1% |
| Operating profit (loss) | 9901 | €171,296 | €91,972 | -€79,324 | -46.3% |
| Financial income | 75/76B | €446 | €319 | -€126 | -28.3% |
| Recurring financial income | 75 | €446 | €319 | -€126 | -28.3% |
| Financial charges | 65/66B | €7,091 | €6,330 | -€761 | -10.7% |
| Recurring financial charges | 65 | €7,091 | €6,330 | -€761 | -10.7% |
| Profit (loss) for the period before taxes | 9903 | €164,651 | €85,961 | -€78,689 | -47.8% |
| Income taxes | 67/77 | €46,894 | €23,040 | -€23,854 | -50.9% |
| Profit (loss) for the period | 9904 | €117,757 | €62,921 | -€54,835 | -46.6% |
| Profit (loss) for the period to be appropriated | 9905 | €117,757 | €62,921 | -€54,835 | -46.6% |
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 2 November 2026 via checked.be.