Van Cutsem Gino: 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 Cutsem Gino
Largest movements
- Cash -€19,856
down €19,856 (-46.3%), from €42,842 to €22,986
mainly Tax, wage and social debts (-€9,490) and Receivables within one year (-€6,593)
- Receivables within one year +€6,593
up €6,593 (+31.3%), from €21,041 to €27,634
of which Other amounts receivable: +€11,647
- Tangible fixed assets -€1,269
down €1,269 (-51.0%), from €2,489 to €1,221
of which Plant, machinery and equipment: -€862
- Tax, wage and social debts -€9,490
down €9,490 (-93.5%), from €10,154 to €664
of which Taxes: -€7,090
- Profit (loss) carried forward -€5,468
down €5,468, from €0 to -€5,468
- Trade debts +€846
up €846 (+27.5%), from €3,074 to €3,919
- Gross operating margin -€33,921
down €33,921, from €30,313 to -€3,608
- Taxes -€9,525
down €9,525 (-100%), from €9,525 to €0
- Financial charges -€518
down €518 (-51.6%), from €1,003 to €485
- Depreciation +€446
up €446 (+54.1%), from €823 to €1,269
- Financial income -€442
down €442 (-29.1%), from €1,518 to €1,076
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 | €67,245 | €52,746 | -€14,499 | -21.6% |
| Fixed assets | 21/28 | €2,489 | €1,221 | -€1,269 | -51.0% |
| Tangible fixed assets | 22/27 | €2,489 | €1,221 | -€1,269 | -51.0% |
| Plant, machinery and equipment | 23 | €2,059 | €1,197 | -€862 | -41.8% |
| Furniture and vehicles | 24 | €430 | €23 | -€407 | -94.6% |
| Current assets | 29/58 | €64,756 | €51,526 | -€13,230 | -20.4% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €21,041 | €27,634 | +€6,593 | +31.3% |
| Trade receivables | 40 | €5,053 | €0 | -€5,053 | -100% |
| Other amounts receivable | 41 | €15,987 | €27,634 | +€11,647 | +72.8% |
| Cash at bank and in hand | 54/58 | €42,842 | €22,986 | -€19,856 | -46.3% |
| Deferred charges and accrued income | 490/1 | €873 | €906 | +€33 | +3.8% |
| Total equity and liabilities | 10/49 | €67,245 | €52,746 | -€14,499 | -21.6% |
| Equity | 10/15 | €53,289 | €47,820 | -€5,468 | -10.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €34,689 | €34,689 | = | 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 | €32,829 | €32,829 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | -€5,468 | -€5,468 | |
| Amounts payable | 17/49 | €13,957 | €4,926 | -€9,030 | -64.7% |
| Amounts payable within one year | 42/48 | €13,571 | €4,926 | -€8,645 | -63.7% |
| Financial debts | 43 | €344 | €343 | -€1 | -0.2% |
| Credit institutions | 430/8 | €344 | €343 | -€1 | -0.2% |
| Trade debts | 44 | €3,074 | €3,919 | +€846 | +27.5% |
| Suppliers | 440/4 | €3,074 | €3,919 | +€846 | +27.5% |
| Taxes, remuneration and social security | 45 | €10,154 | €664 | -€9,490 | -93.5% |
| Taxes | 450/3 | €7,754 | €664 | -€7,090 | -91.4% |
| Remuneration and social security | 454/9 | €2,400 | €0 | -€2,400 | -100% |
| Accrued charges and deferred income | 492/3 | €385 | €0 | -€385 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €823 | €1,269 | +€446 | +54.1% |
| Other operating charges | 640/8 | €939 | €1,183 | +€244 | +26.0% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €30,313 | -€3,608 | -€33,921 | |
| Operating profit (loss) | 9901 | €28,551 | -€6,059 | -€34,611 | |
| Financial income | 75/76B | €1,518 | €1,076 | -€442 | -29.1% |
| Recurring financial income | 75 | €1,518 | €1,076 | -€442 | -29.1% |
| Financial charges | 65/66B | €1,003 | €485 | -€518 | -51.6% |
| Recurring financial charges | 65 | €1,003 | €485 | -€518 | -51.6% |
| Profit (loss) for the period before taxes | 9903 | €29,066 | -€5,468 | -€34,535 | |
| Income taxes | 67/77 | €9,525 | €0 | -€9,525 | -100% |
| Profit (loss) for the period | 9904 | €19,541 | -€5,468 | -€25,010 | |
| Profit (loss) for the period to be appropriated | 9905 | €19,541 | -€5,468 | -€25,010 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.