VAN BAUWEL: 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.
VAN BAUWEL
Largest movements
- Cash -€615,011
down €615,011 (-26.5%), from €2.3m to €1.7m
mainly Investment in fixed assets (net) (-€559,854) and Deferred charges and accrued income (-€65,864)
- Tangible fixed assets +€464,070
up €464,070 (+77.1%), from €601,791 to €1.1m
of which Land and buildings: +€485,169
- Deferred charges and accrued income +€65,864
up €65,864 (+4,397%), from €1,498 to €67,361
- Profit (loss) carried forward -€1.4m
down €1.4m (-100%), from €1.4m to €0
- Reserves +€1.4m
up €1.4m (+38.2%), from €3.6m to €4.9m
- Trade debts -€63,764
down €63,764 (-91.2%), from €69,937 to €6,173
- Gross operating margin -€5.8m
down €5.8m, from €5.7m to -€89,606
- Taxes -€1.7m
down €1.7m, from €1.6m to -€24,731
- Financial income +€134,455
up €134,455 (+3,055,795%), from €4 to €134,459
- Depreciation +€64,395
up €64,395 (+205%), from €31,388 to €95,784
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 | €5,516,939 | €5,390,155 | -€126,784 | -2.3% |
| Fixed assets | 21/28 | €601,831 | €1,065,901 | +€464,070 | +77.1% |
| Tangible fixed assets | 22/27 | €601,791 | €1,065,861 | +€464,070 | +77.1% |
| Land and buildings | 22 | €540,159 | €1,025,329 | +€485,169 | +89.8% |
| Furniture and vehicles | 24 | €61,631 | €40,532 | -€21,099 | -34.2% |
| Financial fixed assets | 28 | €40 | €40 | = | 0.0% |
| Current assets | 29/58 | €4,915,108 | €4,324,254 | -€590,854 | -12.0% |
| Amounts receivable within one year | 40/41 | €96,265 | €42,058 | -€54,207 | -56.3% |
| Trade receivables | 40 | €95,850 | €1,320 | -€94,530 | -98.6% |
| Other amounts receivable | 41 | €415 | €40,738 | +€40,323 | +9,723% |
| Current investments | 50/53 | €2,500,000 | €2,512,500 | +€12,500 | +0.5% |
| Cash at bank and in hand | 54/58 | €2,317,345 | €1,702,335 | -€615,011 | -26.5% |
| Deferred charges and accrued income | 490/1 | €1,498 | €67,361 | +€65,864 | +4,397% |
| Total equity and liabilities | 10/49 | €5,516,939 | €5,390,155 | -€126,784 | -2.3% |
| Equity | 10/15 | €4,987,786 | €4,956,012 | -€31,774 | -0.6% |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Reserves | 13 | €3,580,786 | €4,949,012 | +€1.4m | +38.2% |
| Distributable reserves | 133 | €3,580,786 | €4,949,012 | +€1.4m | +38.2% |
| Profit (loss) carried forward | 14 | €1,400,000 | €0 | -€1.4m | -100% |
| Amounts payable | 17/49 | €529,153 | €434,143 | -€95,010 | -18.0% |
| Amounts payable within one year | 42/48 | €529,153 | €430,237 | -€98,916 | -18.7% |
| Trade debts | 44 | €69,937 | €6,173 | -€63,764 | -91.2% |
| Suppliers | 440/4 | €69,937 | €6,173 | -€63,764 | -91.2% |
| Advances received on contracts in progress | 46 | - | €1,597 | +€1,597 | |
| Taxes, remuneration and social security | 45 | €450,557 | €422,467 | -€28,090 | -6.2% |
| Taxes | 450/3 | €448,695 | €422,467 | -€26,228 | -5.8% |
| Remuneration and social security | 454/9 | €1,862 | €0 | -€1,862 | -100% |
| Other amounts payable | 47/48 | €8,659 | €0 | -€8,659 | -100% |
| Accrued charges and deferred income | 492/3 | - | €3,906 | +€3,906 | |
| Non-recurring operating income | 76A | - | €2,810 | +€2,810 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,388 | €95,784 | +€64,395 | +205% |
| Other operating charges | 640/8 | €1,220 | €5,374 | +€4,154 | +340% |
| Gross operating margin | 9900 | €5,697,731 | -€89,606 | -€5.8m | |
| Operating profit (loss) | 9901 | €5,665,122 | -€190,763 | -€5.9m | |
| Financial income | 75/76B | €4 | €134,459 | +€134,455 | +3,055,795% |
| Recurring financial income | 75 | €4 | €134,459 | +€134,455 | +3,055,795% |
| Financial charges | 65/66B | €400 | €201 | -€199 | -49.8% |
| Recurring financial charges | 65 | €400 | €201 | -€199 | -49.8% |
| Profit (loss) for the period before taxes | 9903 | €5,664,727 | -€56,504 | -€5.7m | |
| Income taxes | 67/77 | €1,642,462 | -€24,731 | -€1.7m | |
| Profit (loss) for the period | 9904 | €4,022,265 | -€31,774 | -€4.1m | |
| Profit (loss) for the period to be appropriated | 9905 | €4,022,265 | -€31,774 | -€4.1m |
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 17 October 2026 via checked.be.