VAN DEN BULCK: 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 DEN BULCK
Largest movements
- Cash +€54,150
up €54,150 (+221%), from €24,519 to €78,670
mainly Receivables within one year (+€38,733) and Provisions (+€22,962)
- Receivables within one year -€38,733
down €38,733 (-46.7%), from €82,944 to €44,211
of which Other amounts receivable: -€37,784
- Receivables after one year -€17,000
no longer reported in 2025 (was €17,000)
- Tangible fixed assets -€3,877
down €3,877 (-48.4%), from €8,012 to €4,135
- Reserves -€23,112
down €23,112 (-32.1%), from €72,001 to €48,889
- Provisions +€22,962
up €22,962 (+29.1%), from €78,940 to €101,902
- Profit (loss) carried forward -€21,984
down €21,984 (-36.1%), from -€60,980 to -€82,964
- Tax, wage and social debts +€14,450
up €14,450 (+48.1%), from €30,023 to €44,473
- Trade debts +€2,313
up €2,313 (+157%), from €1,469 to €3,782
- Financial charges +€88,389
up €88,389 (+7,564%), from €1,169 to €89,558
- Gross operating margin +€68,112
up €68,112 (+259%), from €26,323 to €94,435
- Provisions -€55,978
down €55,978 (-70.9%), from €78,940 to €22,962
- Taxes -€4,053
down €4,053 (-57.1%), from €7,096 to €3,042
- Financial income -€1,112
down €1,112 (-18.5%), from €6,009 to €4,896
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 | €133,853 | €128,482 | -€5,372 | -4.0% |
| Fixed assets | 21/28 | €8,012 | €4,135 | -€3,877 | -48.4% |
| Tangible fixed assets | 22/27 | €8,012 | €4,135 | -€3,877 | -48.4% |
| Furniture and vehicles | 24 | €8,012 | €4,135 | -€3,877 | -48.4% |
| Current assets | 29/58 | €125,842 | €124,347 | -€1,495 | -1.2% |
| Amounts receivable after more than one year | 29 | €17,000 | - | -€17,000 | |
| Other amounts receivable | 291 | €17,000 | - | -€17,000 | |
| Amounts receivable within one year | 40/41 | €82,944 | €44,211 | -€38,733 | -46.7% |
| Trade receivables | 40 | €1,057 | €108 | -€949 | -89.8% |
| Other amounts receivable | 41 | €81,887 | €44,103 | -€37,784 | -46.1% |
| Cash at bank and in hand | 54/58 | €24,519 | €78,670 | +€54,150 | +221% |
| Deferred charges and accrued income | 490/1 | €1,378 | €1,466 | +€88 | +6.4% |
| Total equity and liabilities | 10/49 | €133,853 | €128,482 | -€5,372 | -4.0% |
| Equity | 10/15 | €23,421 | -€21,675 | -€45,096 | |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €72,001 | €48,889 | -€23,112 | -32.1% |
| Distributable reserves | 133 | €72,001 | €48,889 | -€23,112 | -32.1% |
| Profit (loss) carried forward | 14 | -€60,980 | -€82,964 | -€21,984 | -36.1% |
| Provisions and deferred taxes | 16 | €78,940 | €101,902 | +€22,962 | +29.1% |
| Provisions for liabilities and charges | 160/5 | €78,940 | €101,902 | +€22,962 | +29.1% |
| Other liabilities and charges | 164/5 | €78,940 | €101,902 | +€22,962 | +29.1% |
| Amounts payable | 17/49 | €31,493 | €48,255 | +€16,762 | +53.2% |
| Amounts payable within one year | 42/48 | €31,493 | €48,255 | +€16,762 | +53.2% |
| Trade debts | 44 | €1,469 | €3,782 | +€2,313 | +157% |
| Suppliers | 440/4 | €1,469 | €3,782 | +€2,313 | +157% |
| Taxes, remuneration and social security | 45 | €30,023 | €44,473 | +€14,450 | +48.1% |
| Taxes | 450/3 | €30,023 | €44,473 | +€14,450 | +48.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,611 | €5,463 | -€148 | -2.6% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €78,940 | €22,962 | -€55,978 | -70.9% |
| Other operating charges | 640/8 | €496 | €291 | -€205 | -41.4% |
| Gross operating margin | 9900 | €26,323 | €94,435 | +€68,112 | +259% |
| Operating profit (loss) | 9901 | -€58,724 | €65,719 | +€124,444 | |
| Financial income | 75/76B | €6,009 | €4,896 | -€1,112 | -18.5% |
| Recurring financial income | 75 | €6,009 | €4,896 | -€1,112 | -18.5% |
| Financial charges | 65/66B | €1,169 | €89,558 | +€88,389 | +7,564% |
| Recurring financial charges | 65 | €1,169 | €89,558 | +€88,389 | +7,564% |
| Profit (loss) for the period before taxes | 9903 | -€53,884 | -€18,942 | +€34,942 | +64.8% |
| Income taxes | 67/77 | €7,096 | €3,042 | -€4,053 | -57.1% |
| Profit (loss) for the period | 9904 | -€60,980 | -€21,984 | +€38,996 | +63.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€60,980 | -€21,984 | +€38,996 | +63.9% |
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 25 October 2026 via checked.be.