Van Cauwenbergh Projects: 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 Cauwenbergh Projects
Largest movements
- Receivables within one year +€59,486
up €59,486 (+35.4%), from €167,837 to €227,323
of which Other amounts receivable: +€57,606
- Tangible fixed assets +€51,004
up €51,004 (+11.2%), from €454,589 to €505,593
of which Plant, machinery and equipment: +€83,736
- Intangible fixed assets -€28,172
down €28,172 (-43.1%), from €65,298 to €37,126
- Cash -€15,615
down €15,615 (-37.9%), from €41,161 to €25,546
mainly Contributions, distributions and other (-€167,000) and Investment in fixed assets (net) (-€119,014)
- Other debts +€167,000
new in 2025: €167,000
- Reserves -€110,100
down €110,100 (-62.3%), from €176,741 to €66,641
- Current portion of long-term debt +€8,647
up €8,647 (+9.2%), from €93,640 to €102,287
- Gross operating margin -€38,100
down €38,100 (-16.7%), from €227,714 to €189,613
- Depreciation -€13,875
down €13,875 (-12.6%), from €110,058 to €96,183
- Taxes -€3,779
down €3,779 (-18.2%), from €20,734 to €16,955
- Financial charges -€2,852
down €2,852 (-9.4%), from €30,186 to €27,334
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 | €736,950 | €804,476 | +€67,526 | +9.2% |
| Fixed assets | 21/28 | €519,887 | €542,718 | +€22,831 | +4.4% |
| Intangible fixed assets | 21 | €65,298 | €37,126 | -€28,172 | -43.1% |
| Tangible fixed assets | 22/27 | €454,589 | €505,593 | +€51,004 | +11.2% |
| Land and buildings | 22 | €348,758 | €327,835 | -€20,923 | -6.0% |
| Plant, machinery and equipment | 23 | €57,375 | €141,110 | +€83,736 | +146% |
| Furniture and vehicles | 24 | €35,647 | €27,681 | -€7,966 | -22.3% |
| Leasing and similar rights | 25 | €2,762 | €0 | -€2,762 | -100% |
| Other tangible fixed assets | 26 | €10,047 | €8,966 | -€1,081 | -10.8% |
| Current assets | 29/58 | €217,063 | €261,758 | +€44,695 | +20.6% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €167,837 | €227,323 | +€59,486 | +35.4% |
| Trade receivables | 40 | €27,643 | €29,523 | +€1,880 | +6.8% |
| Other amounts receivable | 41 | €140,194 | €197,800 | +€57,606 | +41.1% |
| Cash at bank and in hand | 54/58 | €41,161 | €25,546 | -€15,615 | -37.9% |
| Deferred charges and accrued income | 490/1 | €8,064 | €8,889 | +€825 | +10.2% |
| Total equity and liabilities | 10/49 | €736,950 | €804,476 | +€67,526 | +9.2% |
| Equity | 10/15 | €179,741 | €69,641 | -€110,100 | -61.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €176,741 | €66,641 | -€110,100 | -62.3% |
| Distributable reserves | 133 | €176,741 | €66,641 | -€110,100 | -62.3% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €557,209 | €734,835 | +€177,626 | +31.9% |
| Amounts payable after more than one year | 17 | €421,888 | €419,121 | -€2,767 | -0.7% |
| Financial debts | 170/4 | €421,888 | €419,121 | -€2,767 | -0.7% |
| Amounts payable within one year | 42/48 | €135,321 | €315,714 | +€180,393 | +133% |
| Current portion of amounts payable after more than one year | 42 | €93,640 | €102,287 | +€8,647 | +9.2% |
| Financial debts | 43 | €18,739 | €18,730 | -€10 | -0.1% |
| Credit institutions | 430/8 | €18,739 | €18,730 | -€10 | -0.1% |
| Trade debts | 44 | €22,335 | €27,122 | +€4,787 | +21.4% |
| Suppliers | 440/4 | €22,335 | €27,122 | +€4,787 | +21.4% |
| Taxes, remuneration and social security | 45 | €607 | €576 | -€32 | -5.2% |
| Taxes | 450/3 | €607 | €576 | -€32 | -5.2% |
| Other amounts payable | 47/48 | - | €167,000 | +€167,000 | |
| Non-recurring operating income | 76A | - | €441 | +€441 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €110,058 | €96,183 | -€13,875 | -12.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,621 | €0 | -€1,621 | -100% |
| Other operating charges | 640/8 | €2,406 | €2,689 | +€283 | +11.8% |
| Non-recurring operating charges | 66A | €4,565 | €0 | -€4,565 | -100% |
| Gross operating margin | 9900 | €227,714 | €189,613 | -€38,100 | -16.7% |
| Operating profit (loss) | 9901 | €109,064 | €90,741 | -€18,323 | -16.8% |
| Financial income | 75/76B | €8,448 | €10,448 | +€2,000 | +23.7% |
| Recurring financial income | 75 | €8,448 | €10,448 | +€2,000 | +23.7% |
| Financial charges | 65/66B | €30,186 | €27,334 | -€2,852 | -9.4% |
| Recurring financial charges | 65 | €30,186 | €27,334 | -€2,852 | -9.4% |
| Profit (loss) for the period before taxes | 9903 | €87,326 | €73,855 | -€13,471 | -15.4% |
| Income taxes | 67/77 | €20,734 | €16,955 | -€3,779 | -18.2% |
| Profit (loss) for the period | 9904 | €66,592 | €56,900 | -€9,692 | -14.6% |
| Profit (loss) for the period to be appropriated | 9905 | €66,592 | €56,900 | -€9,692 | -14.6% |
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 21 October 2026 via checked.be.