VAN CAUWENBERGE: what changed
VAN CAUWENBERGE
Largest movements
- Stocks and contracts -€80,106
down €80,106 (-73.0%), from €109,806 to €29,700
of which Contracts in progress: -€74,806
- Current investments +€75,000
up €75,000 (+33.5%), from €223,856 to €298,856
- Tangible fixed assets -€60,151
down €60,151 (-13.9%), from €431,435 to €371,284
of which Land and buildings: -€60,915
- Cash -€46,423
down €46,423 (-21.3%), from €217,938 to €171,514
mainly Debts after one year (-€77,716) and Current investments (-€75,000)
- Receivables within one year +€35,217
up €35,217 (+169%), from €20,838 to €56,056
of which Trade receivables: +€34,731
- Debts after one year -€77,716
down €77,716 (-26.4%), from €294,061 to €216,345
- Reserves +€46,300
up €46,300 (+8.7%), from €530,510 to €576,810
of which Distributable reserves: +€48,160
- Trade debts -€26,767
down €26,767 (-57.6%), from €46,465 to €19,698
- Gross operating margin -€85,083
down €85,083 (-18.6%), from €458,158 to €373,074
- Staff costs -€40,749
down €40,749 (-24.2%), from €168,114 to €127,365
- Taxes -€10,073
down €10,073 (-16.9%), from €59,436 to €49,363
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 | €1,004,647 | €934,575 | -€70,073 | -7.0% |
| Fixed assets | 21/28 | €432,209 | €372,058 | -€60,151 | -13.9% |
| Tangible fixed assets | 22/27 | €431,435 | €371,284 | -€60,151 | -13.9% |
| Land and buildings | 22 | €356,958 | €296,043 | -€60,915 | -17.1% |
| Plant, machinery and equipment | 23 | €15,983 | €12,122 | -€3,862 | -24.2% |
| Furniture and vehicles | 24 | €58,493 | €63,119 | +€4,626 | +7.9% |
| Financial fixed assets | 28 | €774 | €774 | = | 0.0% |
| Current assets | 29/58 | €572,438 | €562,517 | -€9,922 | -1.7% |
| Stocks and contracts in progress | 3 | €109,806 | €29,700 | -€80,106 | -73.0% |
| Stocks | 30/36 | €35,000 | €29,700 | -€5,300 | -15.1% |
| Contracts in progress | 37 | €74,806 | €0 | -€74,806 | -100% |
| Amounts receivable within one year | 40/41 | €20,838 | €56,056 | +€35,217 | +169% |
| Trade receivables | 40 | €16,257 | €50,987 | +€34,731 | +214% |
| Other amounts receivable | 41 | €4,582 | €5,068 | +€487 | +10.6% |
| Current investments | 50/53 | €223,856 | €298,856 | +€75,000 | +33.5% |
| Cash at bank and in hand | 54/58 | €217,938 | €171,514 | -€46,423 | -21.3% |
| Deferred charges and accrued income | 490/1 | - | €6,391 | +€6,391 | |
| Total equity and liabilities | 10/49 | €1,004,647 | €934,575 | -€70,073 | -7.0% |
| Equity | 10/15 | €566,348 | €614,622 | +€48,274 | +8.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €530,510 | €576,810 | +€46,300 | +8.7% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €528,650 | €576,810 | +€48,160 | +9.1% |
| Profit (loss) carried forward | 14 | €29,638 | €31,612 | +€1,974 | +6.7% |
| Amounts payable | 17/49 | €438,299 | €319,953 | -€118,346 | -27.0% |
| Amounts payable after more than one year | 17 | €294,061 | €216,345 | -€77,716 | -26.4% |
| Financial debts | 170/4 | €294,061 | €216,345 | -€77,716 | -26.4% |
| Amounts payable within one year | 42/48 | €144,239 | €103,608 | -€40,630 | -28.2% |
| Current portion of amounts payable after more than one year | 42 | €77,409 | €77,716 | +€308 | +0.4% |
| Trade debts | 44 | €46,465 | €19,698 | -€26,767 | -57.6% |
| Suppliers | 440/4 | €46,465 | €19,698 | -€26,767 | -57.6% |
| Taxes, remuneration and social security | 45 | €14,101 | €6,194 | -€7,908 | -56.1% |
| Taxes | 450/3 | €14,101 | €6,194 | -€7,908 | -56.1% |
| Other amounts payable | 47/48 | €6,264 | €0 | -€6,264 | -100% |
| Non-recurring operating income | 76A | - | €6,550 | +€6,550 | |
| Remuneration, social security and pensions | 62 | €168,114 | €127,365 | -€40,749 | -24.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €79,167 | €76,425 | -€2,743 | -3.5% |
| Other operating charges | 640/8 | €11,264 | €12,599 | +€1,335 | +11.9% |
| Gross operating margin | 9900 | €458,158 | €373,074 | -€85,083 | -18.6% |
| Operating profit (loss) | 9901 | €199,613 | €156,686 | -€42,927 | -21.5% |
| Financial income | 75/76B | €3,887 | €5,199 | +€1,311 | +33.7% |
| Recurring financial income | 75 | €3,887 | €5,199 | +€1,311 | +33.7% |
| Financial charges | 65/66B | €9,955 | €8,548 | -€1,408 | -14.1% |
| Recurring financial charges | 65 | €9,955 | €8,548 | -€1,408 | -14.1% |
| Profit (loss) for the period before taxes | 9903 | €193,545 | €153,337 | -€40,208 | -20.8% |
| Income taxes | 67/77 | €59,436 | €49,363 | -€10,073 | -16.9% |
| Profit (loss) for the period | 9904 | €134,109 | €103,974 | -€30,135 | -22.5% |
| Profit (loss) for the period to be appropriated | 9905 | €134,109 | €103,974 | -€30,135 | -22.5% |
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 6 November 2026 via checked.be.