VAN DER CUYLEN: 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 DER CUYLEN
Largest movements
- Receivables within one year +€9,596
up €9,596 (+48.2%), from €19,897 to €29,493
of which Other amounts receivable: +€10,070
- Stocks and contracts +€2,595
up €2,595 (+16.2%), from €16,049 to €18,645
- Reserves +€9,078
up €9,078 (+17.1%), from €52,970 to €62,048
- Trade debts +€5,083
up €5,083 (+422%), from €1,206 to €6,289
- Gross operating margin +€1,600
up €1,600 (+7.1%), from €22,648 to €24,248
- Depreciation +€458
up €458 (+4.4%), from €10,310 to €10,769
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 | €174,289 | €185,157 | +€10,868 | +6.2% |
| Fixed assets | 21/28 | €23,660 | €23,591 | -€69 | -0.3% |
| Tangible fixed assets | 22/27 | €23,660 | €23,591 | -€69 | -0.3% |
| Plant, machinery and equipment | 23 | €437 | €6,207 | +€5,770 | +1,319% |
| Furniture and vehicles | 24 | €23,223 | €17,384 | -€5,839 | -25.1% |
| Current assets | 29/58 | €150,629 | €161,566 | +€10,937 | +7.3% |
| Stocks and contracts in progress | 3 | €16,049 | €18,645 | +€2,595 | +16.2% |
| Stocks | 30/36 | €16,049 | €18,645 | +€2,595 | +16.2% |
| Amounts receivable within one year | 40/41 | €19,897 | €29,493 | +€9,596 | +48.2% |
| Trade receivables | 40 | €10,216 | €9,743 | -€474 | -4.6% |
| Other amounts receivable | 41 | €9,680 | €19,750 | +€10,070 | +104% |
| Cash at bank and in hand | 54/58 | €111,812 | €110,568 | -€1,244 | -1.1% |
| Deferred charges and accrued income | 490/1 | €2,871 | €2,860 | -€11 | -0.4% |
| Total equity and liabilities | 10/49 | €174,289 | €185,157 | +€10,868 | +6.2% |
| Equity | 10/15 | €168,893 | €177,971 | +€9,078 | +5.4% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €52,970 | €62,048 | +€9,078 | +17.1% |
| Distributable reserves | 133 | €52,970 | €62,048 | +€9,078 | +17.1% |
| Profit (loss) carried forward | 14 | €97,331 | €97,331 | = | 0.0% |
| Amounts payable | 17/49 | €5,396 | €7,186 | +€1,790 | +33.2% |
| Amounts payable within one year | 42/48 | €3,627 | €7,186 | +€3,559 | +98.1% |
| Trade debts | 44 | €1,206 | €6,289 | +€5,083 | +422% |
| Suppliers | 440/4 | €1,206 | €6,289 | +€5,083 | +422% |
| Taxes, remuneration and social security | 45 | €2,421 | €675 | -€1,746 | -72.1% |
| Taxes | 450/3 | €2,421 | €675 | -€1,746 | -72.1% |
| Other amounts payable | 47/48 | - | €222 | +€222 | |
| Accrued charges and deferred income | 492/3 | €1,769 | - | -€1,769 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,310 | €10,769 | +€458 | +4.4% |
| Other operating charges | 640/8 | €677 | €805 | +€127 | +18.8% |
| Gross operating margin | 9900 | €22,648 | €24,248 | +€1,600 | +7.1% |
| Operating profit (loss) | 9901 | €11,661 | €12,675 | +€1,014 | +8.7% |
| Financial income | 75/76B | €245 | €115 | -€130 | -53.0% |
| Recurring financial income | 75 | €245 | €115 | -€130 | -53.0% |
| Financial charges | 65/66B | €315 | €319 | +€3 | +1.0% |
| Recurring financial charges | 65 | €315 | €319 | +€3 | +1.0% |
| Profit (loss) for the period before taxes | 9903 | €11,590 | €12,471 | +€881 | +7.6% |
| Income taxes | 67/77 | €3,179 | €3,393 | +€215 | +6.8% |
| Profit (loss) for the period | 9904 | €8,411 | €9,078 | +€667 | +7.9% |
| Profit (loss) for the period to be appropriated | 9905 | €8,411 | €9,078 | +€667 | +7.9% |
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.