VAN den BULCKE: 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 BULCKE
Largest movements
- Tangible fixed assets -€31,828
down €31,828 (-31.5%), from €100,899 to €69,071
of which Furniture and vehicles: -€21,645
- Short-term financial debts -€18,389
down €18,389 (-92.4%), from €19,907 to €1,518
- Profit (loss) carried forward -€10,047
down €10,047 (-38.5%), from -€26,103 to -€36,150
- Other debts -€3,232
down €3,232 (-2.1%), from €150,571 to €147,339
- Trade debts -€2,704
down €2,704 (-86.0%), from €3,145 to €441
- Gross operating margin -€9,151
down €9,151 (-23.5%), from €38,924 to €29,774
- Depreciation +€1,803
up €1,803 (+5.6%), from €32,376 to €34,179
- Financial charges -€641
down €641 (-29.3%), from €2,185 to €1,544
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 | €172,117 | €138,477 | -€33,640 | -19.5% |
| Fixed assets | 21/28 | €100,899 | €69,071 | -€31,828 | -31.5% |
| Tangible fixed assets | 22/27 | €100,899 | €69,071 | -€31,828 | -31.5% |
| Plant, machinery and equipment | 23 | €26,535 | €16,352 | -€10,183 | -38.4% |
| Furniture and vehicles | 24 | €74,365 | €52,720 | -€21,645 | -29.1% |
| Current assets | 29/58 | €71,218 | €69,405 | -€1,812 | -2.5% |
| Stocks and contracts in progress | 3 | €54,448 | €54,007 | -€441 | -0.8% |
| Stocks | 30/36 | €47,298 | €46,987 | -€311 | -0.7% |
| Contracts in progress | 37 | €7,150 | €7,020 | -€130 | -1.8% |
| Amounts receivable within one year | 40/41 | €16,610 | €15,237 | -€1,372 | -8.3% |
| Trade receivables | 40 | €16,610 | €15,237 | -€1,372 | -8.3% |
| Cash at bank and in hand | 54/58 | €0 | €0 | = | |
| Deferred charges and accrued income | 490/1 | €161 | €161 | +€1 | +0.4% |
| Total equity and liabilities | 10/49 | €172,117 | €138,477 | -€33,640 | -19.5% |
| Equity | 10/15 | -€3,195 | -€13,242 | -€10,047 | -314% |
| Contributions | 10/11 | €18,750 | €18,750 | = | 0.0% |
| Reserves | 13 | €4,158 | €4,158 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,875 | €1,875 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,875 | €1,875 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,500 | €1,500 | = | 0.0% |
| Distributable reserves | 133 | €783 | €783 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€26,103 | -€36,150 | -€10,047 | -38.5% |
| Amounts payable | 17/49 | €175,312 | €151,718 | -€23,594 | -13.5% |
| Amounts payable within one year | 42/48 | €175,312 | €151,718 | -€23,594 | -13.5% |
| Financial debts | 43 | €19,907 | €1,518 | -€18,389 | -92.4% |
| Credit institutions | 430/8 | €19,907 | €1,518 | -€18,389 | -92.4% |
| Trade debts | 44 | €3,145 | €441 | -€2,704 | -86.0% |
| Suppliers | 440/4 | €3,145 | €441 | -€2,704 | -86.0% |
| Taxes, remuneration and social security | 45 | €1,689 | €2,421 | +€732 | +43.3% |
| Taxes | 450/3 | €1,689 | €2,421 | +€732 | +43.3% |
| Other amounts payable | 47/48 | €150,571 | €147,339 | -€3,232 | -2.1% |
| Non-recurring operating income | 76A | €18,944 | €0 | -€18,944 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,376 | €34,179 | +€1,803 | +5.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €233 | +€233 | |
| Other operating charges | 640/8 | €2,772 | €3,145 | +€373 | +13.5% |
| Gross operating margin | 9900 | €38,924 | €29,774 | -€9,151 | -23.5% |
| Operating profit (loss) | 9901 | €3,777 | -€7,783 | -€11,560 | |
| Financial income | 75/76B | €4 | €0 | -€4 | -100% |
| Recurring financial income | 75 | €4 | €0 | -€4 | -100% |
| Financial charges | 65/66B | €2,185 | €1,544 | -€641 | -29.3% |
| Recurring financial charges | 65 | €2,185 | €1,544 | -€641 | -29.3% |
| Profit (loss) for the period before taxes | 9903 | €1,596 | -€9,328 | -€10,924 | |
| Income taxes | 67/77 | €719 | €719 | +€0 | 0.0% |
| Profit (loss) for the period | 9904 | €877 | -€10,047 | -€10,924 | |
| Profit (loss) for the period to be appropriated | 9905 | €877 | -€10,047 | -€10,924 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.