VAN GUCHT DAVID: 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 GUCHT DAVID
Largest movements
- Receivables within one year +€17,947
up €17,947 (+6.9%), from €260,866 to €278,813
of which Trade receivables: +€25,300
- Cash +€13,332
up €13,332 (+367%), from €3,637 to €16,969
mainly Net result for the year (+€27,302) and Tax, wage and social debts (+€16,738)
- Tangible fixed assets +€11,706
up €11,706 (+63.4%), from €18,450 to €30,156
of which Furniture and vehicles: +€10,264
- Reserves +€27,302
up €27,302 (+11.6%), from €236,383 to €263,685
of which Distributable reserves: +€27,302
- Trade debts -€18,729
down €18,729 (-60.1%), from €31,184 to €12,455
- Tax, wage and social debts +€16,738
up €16,738 (+269%), from €6,217 to €22,955
of which Taxes: +€16,554
- Current portion of long-term debt +€9,227
up €9,227 (+116%), from €7,956 to €17,183
- Debts after one year +€3,990
up €3,990 (+32.6%), from €12,222 to €16,212
- Gross operating margin +€36,509
up €36,509 (+62.5%), from €58,457 to €94,966
- Taxes +€15,334
up €15,334 (+1,258%), from €1,219 to €16,554
- Financial charges -€11,310
down €11,310, from €2,850 to -€8,460
- Financial income -€10,284
down €10,284 (-86.7%), from €11,857 to €1,573
of which Financial income: -€11,647
- Staff costs -€2,423
down €2,423 (-5.1%), from €47,144 to €44,720
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 | €302,022 | €340,551 | +€38,529 | +12.8% |
| Fixed assets | 21/28 | €22,178 | €30,704 | +€8,526 | +38.4% |
| Tangible fixed assets | 22/27 | €18,450 | €30,156 | +€11,706 | +63.4% |
| Plant, machinery and equipment | 23 | €3,771 | €5,214 | +€1,443 | +38.3% |
| Furniture and vehicles | 24 | €14,679 | €24,942 | +€10,264 | +69.9% |
| Financial fixed assets | 28 | €3,728 | €548 | -€3,180 | -85.3% |
| Current assets | 29/58 | €279,844 | €309,846 | +€30,003 | +10.7% |
| Stocks and contracts in progress | 3 | €14,691 | €13,869 | -€823 | -5.6% |
| Stocks | 30/36 | €14,691 | €13,869 | -€823 | -5.6% |
| Amounts receivable within one year | 40/41 | €260,866 | €278,813 | +€17,947 | +6.9% |
| Trade receivables | 40 | €45,189 | €70,488 | +€25,300 | +56.0% |
| Other amounts receivable | 41 | €215,677 | €208,325 | -€7,352 | -3.4% |
| Cash at bank and in hand | 54/58 | €3,637 | €16,969 | +€13,332 | +367% |
| Deferred charges and accrued income | 490/1 | €649 | €196 | -€453 | -69.8% |
| Total equity and liabilities | 10/49 | €302,022 | €340,551 | +€38,529 | +12.8% |
| Equity | 10/15 | €244,443 | €271,745 | +€27,302 | +11.2% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Reserves | 13 | €236,383 | €263,685 | +€27,302 | +11.6% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €236,383 | €263,685 | +€27,302 | +11.6% |
| Amounts payable | 17/49 | €57,579 | €68,806 | +€11,227 | +19.5% |
| Amounts payable after more than one year | 17 | €12,222 | €16,212 | +€3,990 | +32.6% |
| Financial debts | 170/4 | €12,222 | €16,212 | +€3,990 | +32.6% |
| Amounts payable within one year | 42/48 | €45,357 | €52,594 | +€7,237 | +16.0% |
| Current portion of amounts payable after more than one year | 42 | €7,956 | €17,183 | +€9,227 | +116% |
| Trade debts | 44 | €31,184 | €12,455 | -€18,729 | -60.1% |
| Suppliers | 440/4 | €31,184 | €12,455 | -€18,729 | -60.1% |
| Taxes, remuneration and social security | 45 | €6,217 | €22,955 | +€16,738 | +269% |
| Taxes | 450/3 | €1,219 | €17,773 | +€16,554 | +1,358% |
| Remuneration and social security | 454/9 | €4,998 | €5,182 | +€185 | +3.7% |
| Non-recurring operating income | 76A | - | €541 | +€541 | |
| Remuneration, social security and pensions | 62 | €47,144 | €44,720 | -€2,423 | -5.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,279 | €13,102 | +€1,823 | +16.2% |
| Other operating charges | 640/8 | €4,085 | €3,320 | -€765 | -18.7% |
| Gross operating margin | 9900 | €58,457 | €94,966 | +€36,509 | +62.5% |
| Operating profit (loss) | 9901 | -€4,050 | €33,824 | +€37,874 | |
| Financial income | 75/76B | €11,857 | €1,573 | -€10,284 | -86.7% |
| Recurring financial income | 75 | €11,857 | €210 | -€11,647 | -98.2% |
| Non-recurring financial income | 76B | - | €1,363 | +€1,363 | |
| Financial charges | 65/66B | €2,850 | -€8,460 | -€11,310 | |
| Recurring financial charges | 65 | €2,850 | -€8,460 | -€11,310 | |
| Profit (loss) for the period before taxes | 9903 | €4,956 | €43,856 | +€38,900 | +785% |
| Income taxes | 67/77 | €1,219 | €16,554 | +€15,334 | +1,258% |
| Profit (loss) for the period | 9904 | €3,737 | €27,302 | +€23,565 | +631% |
| Profit (loss) for the period to be appropriated | 9905 | €3,737 | €27,302 | +€23,565 | +631% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.