Van De Geuchte 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 De Geuchte Projects
Largest movements
- Stocks and contracts +€667,332
up €667,332 (+189%), from €353,248 to €1.0m
- Cash -€528,475
down €528,475 (-92.2%), from €573,397 to €44,922
mainly Stocks and contracts (-€667,332) and Receivables within one year (-€494,236)
- Receivables within one year +€494,236
up €494,236, from €0 to €494,236
of which Other amounts receivable: +€490,408
- Debts after one year +€493,481
up €493,481 (+306%), from €161,493 to €654,974
- Reserves +€444,651
up €444,651 (+612%), from €72,649 to €517,300
- Profit (loss) carried forward -€435,987
down €435,987 (-99.0%), from €440,404 to €4,416
- Short-term financial debts +€310,652
new in 2026: €310,652
- Tax, wage and social debts -€119,976
down €119,976 (-96.8%), from €123,976 to €4,000
of which Taxes: -€123,976
- Gross operating margin -€50,679
down €50,679 (-38.9%), from €130,409 to €79,730
- Taxes -€29,681
down €29,681 (-99.5%), from €29,841 to €160
- Financial charges -€8,680
down €8,680 (-24.6%), from €35,228 to €26,549
- Depreciation -€6,296
down €6,296 (-24.1%), from €26,089 to €19,793
- Other operating charges -€2,398
down €2,398 (-61.8%), from €3,879 to €1,481
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €965,852 | €1,587,147 | +€621,296 | +64.3% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €39,207 | €24,854 | -€14,353 | -36.6% |
| Intangible fixed assets | 21 | €862 | €557 | -€305 | -35.4% |
| Tangible fixed assets | 22/27 | €38,345 | €24,297 | -€14,049 | -36.6% |
| Land and buildings | 22 | €1,622 | €780 | -€842 | -51.9% |
| Plant, machinery and equipment | 23 | €1,744 | €954 | -€790 | -45.3% |
| Furniture and vehicles | 24 | €34,978 | €22,562 | -€12,416 | -35.5% |
| Current assets | 29/58 | €926,645 | €1,562,294 | +€635,649 | +68.6% |
| Stocks and contracts in progress | 3 | €353,248 | €1,020,580 | +€667,332 | +189% |
| Stocks | 30/36 | €353,248 | €1,020,580 | +€667,332 | +189% |
| Amounts receivable within one year | 40/41 | €0 | €494,236 | +€494,236 | |
| Trade receivables | 40 | - | €3,828 | +€3,828 | |
| Other amounts receivable | 41 | €0 | €490,408 | +€490,408 | |
| Cash at bank and in hand | 54/58 | €573,397 | €44,922 | -€528,475 | -92.2% |
| Deferred charges and accrued income | 490/1 | - | €2,556 | +€2,556 | |
| Total equity and liabilities | 10/49 | €965,852 | €1,587,147 | +€621,296 | +64.3% |
| Equity | 10/15 | €532,052 | €540,716 | +€8,664 | +1.6% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €72,649 | €517,300 | +€444,651 | +612% |
| Distributable reserves | 133 | €72,649 | €517,300 | +€444,651 | +612% |
| Profit (loss) carried forward | 14 | €440,404 | €4,416 | -€435,987 | -99.0% |
| Amounts payable | 17/49 | €433,799 | €1,046,431 | +€612,632 | +141% |
| Amounts payable after more than one year | 17 | €161,493 | €654,974 | +€493,481 | +306% |
| Financial debts | 170/4 | €161,493 | €654,974 | +€493,481 | +306% |
| Amounts payable within one year | 42/48 | €272,306 | €391,457 | +€119,151 | +43.8% |
| Current portion of amounts payable after more than one year | 42 | €31,598 | €16,519 | -€15,079 | -47.7% |
| Financial debts | 43 | - | €310,652 | +€310,652 | |
| Credit institutions | 430/8 | - | €310,652 | +€310,652 | |
| Trade debts | 44 | €44,692 | €49,962 | +€5,270 | +11.8% |
| Suppliers | 440/4 | €44,692 | €49,962 | +€5,270 | +11.8% |
| Taxes, remuneration and social security | 45 | €123,976 | €4,000 | -€119,976 | -96.8% |
| Taxes | 450/3 | €123,976 | €0 | -€123,976 | -100% |
| Remuneration and social security | 454/9 | - | €4,000 | +€4,000 | |
| Other amounts payable | 47/48 | €72,040 | €10,323 | -€61,716 | -85.7% |
| Non-recurring operating income | 76A | - | €1,187 | +€1,187 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,089 | €19,793 | -€6,296 | -24.1% |
| Other operating charges | 640/8 | €3,879 | €1,481 | -€2,398 | -61.8% |
| Gross operating margin | 9900 | €130,409 | €79,730 | -€50,679 | -38.9% |
| Operating profit (loss) | 9901 | €100,440 | €58,455 | -€41,985 | -41.8% |
| Financial income | 75/76B | €914 | €631 | -€282 | -30.9% |
| Recurring financial income | 75 | €914 | €631 | -€282 | -30.9% |
| Financial charges | 65/66B | €35,228 | €26,549 | -€8,680 | -24.6% |
| Recurring financial charges | 65 | €35,228 | €26,549 | -€8,680 | -24.6% |
| Profit (loss) for the period before taxes | 9903 | €66,125 | €32,538 | -€33,587 | -50.8% |
| Income taxes | 67/77 | €29,841 | €160 | -€29,681 | -99.5% |
| Profit (loss) for the period | 9904 | €36,284 | €32,378 | -€3,906 | -10.8% |
| Profit (loss) for the period to be appropriated | 9905 | €36,284 | €32,378 | -€3,906 | -10.8% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.