VAN GUCHT MANAGEMENT: 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 MANAGEMENT
Largest movements
- Tangible fixed assets -€39,619
down €39,619 (-25.7%), from €154,177 to €114,558
of which Furniture and vehicles: -€23,948
- Receivables after one year +€21,478
up €21,478 (+13.2%), from €162,100 to €183,578
- Cash -€12,266
down €12,266 (-90.8%), from €13,508 to €1,242
mainly Debts after one year (-€28,605) and Receivables after one year (-€21,478)
- Deferred charges and accrued income +€7,355
up €7,355 (+361%), from €2,038 to €9,393
- Debts after one year -€28,605
down €28,605 (-27.1%), from €105,455 to €76,850
- Other debts +€26,754
up €26,754 (+64.3%), from €41,626 to €68,380
- Profit (loss) carried forward -€12,737
down €12,737 (-11.2%), from -€114,200 to -€126,938
- Current portion of long-term debt -€8,467
down €8,467 (-35.8%), from €23,637 to €15,170
- Trade debts +€6,773
up €6,773 (+109%), from €6,189 to €12,962
- Gross operating margin -€48,285
down €48,285 (-81.0%), from €59,583 to €11,297
- Depreciation -€9,014
down €9,014 (-31.0%), from €29,074 to €20,060
- Taxes -€8,567
down €8,567 (-92.5%), from €9,261 to €694
- Financial income +€2,078
up €2,078 (+56.1%), from €3,701 to €5,779
- Financial charges +€1,845
up €1,845 (+46.9%), from €3,934 to €5,779
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 | €389,361 | €366,703 | -€22,658 | -5.8% |
| Fixed assets | 21/28 | €155,187 | €115,568 | -€39,619 | -25.5% |
| Tangible fixed assets | 22/27 | €154,177 | €114,558 | -€39,619 | -25.7% |
| Land and buildings | 22 | €121,385 | €109,714 | -€11,671 | -9.6% |
| Plant, machinery and equipment | 23 | €8,844 | €4,844 | -€4,000 | -45.2% |
| Furniture and vehicles | 24 | €23,948 | €0 | -€23,948 | -100% |
| Financial fixed assets | 28 | €1,010 | €1,010 | = | 0.0% |
| Current assets | 29/58 | €234,175 | €251,135 | +€16,961 | +7.2% |
| Amounts receivable after more than one year | 29 | €162,100 | €183,578 | +€21,478 | +13.2% |
| Other amounts receivable | 291 | €162,100 | €183,578 | +€21,478 | +13.2% |
| Stocks and contracts in progress | 3 | €1,525 | €1,225 | -€300 | -19.7% |
| Stocks | 30/36 | €1,525 | €1,225 | -€300 | -19.7% |
| Amounts receivable within one year | 40/41 | €55,003 | €55,698 | +€695 | +1.3% |
| Trade receivables | 40 | €37,105 | €21,732 | -€15,373 | -41.4% |
| Other amounts receivable | 41 | €17,898 | €33,967 | +€16,068 | +89.8% |
| Cash at bank and in hand | 54/58 | €13,508 | €1,242 | -€12,266 | -90.8% |
| Deferred charges and accrued income | 490/1 | €2,038 | €9,393 | +€7,355 | +361% |
| Total equity and liabilities | 10/49 | €389,361 | €366,703 | -€22,658 | -5.8% |
| Equity | 10/15 | €183,498 | €170,761 | -€12,737 | -6.9% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Revaluation surpluses | 12 | €77,315 | €77,315 | = | 0.0% |
| Reserves | 13 | €214,383 | €214,383 | = | 0.0% |
| Tax-exempt reserves | 132 | €205,726 | €205,726 | = | 0.0% |
| Distributable reserves | 133 | €8,657 | €8,657 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€114,200 | -€126,938 | -€12,737 | -11.2% |
| Amounts payable | 17/49 | €205,863 | €195,942 | -€9,921 | -4.8% |
| Amounts payable after more than one year | 17 | €105,455 | €76,850 | -€28,605 | -27.1% |
| Financial debts | 170/4 | €105,455 | €76,850 | -€28,605 | -27.1% |
| Amounts payable within one year | 42/48 | €100,183 | €119,092 | +€18,909 | +18.9% |
| Current portion of amounts payable after more than one year | 42 | €23,637 | €15,170 | -€8,467 | -35.8% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €6,189 | €12,962 | +€6,773 | +109% |
| Suppliers | 440/4 | €6,189 | €12,962 | +€6,773 | +109% |
| Taxes, remuneration and social security | 45 | €28,731 | €22,579 | -€6,152 | -21.4% |
| Taxes | 450/3 | €24,706 | €18,554 | -€6,152 | -24.9% |
| Remuneration and social security | 454/9 | €4,025 | €4,025 | = | 0.0% |
| Other amounts payable | 47/48 | €41,626 | €68,380 | +€26,754 | +64.3% |
| Accrued charges and deferred income | 492/3 | €225 | €0 | -€225 | -100% |
| Non-recurring operating income | 76A | €61,606 | €10,336 | -€51,269 | -83.2% |
| Remuneration, social security and pensions | 62 | €400 | €0 | -€400 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,074 | €20,060 | -€9,014 | -31.0% |
| Other operating charges | 640/8 | €2,435 | €2,443 | +€8 | +0.3% |
| Non-recurring operating charges | 66A | - | €837 | +€837 | |
| Gross operating margin | 9900 | €59,583 | €11,297 | -€48,285 | -81.0% |
| Operating profit (loss) | 9901 | €27,673 | -€12,043 | -€39,716 | |
| Financial income | 75/76B | €3,701 | €5,779 | +€2,078 | +56.1% |
| Recurring financial income | 75 | €3,701 | €5,779 | +€2,078 | +56.1% |
| Financial charges | 65/66B | €3,934 | €5,779 | +€1,845 | +46.9% |
| Recurring financial charges | 65 | €3,934 | €5,779 | +€1,845 | +46.9% |
| Profit (loss) for the period before taxes | 9903 | €27,440 | -€12,043 | -€39,483 | |
| Income taxes | 67/77 | €9,261 | €694 | -€8,567 | -92.5% |
| Profit (loss) for the period | 9904 | €18,179 | -€12,737 | -€30,917 | |
| Profit (loss) for the period to be appropriated | 9905 | €18,179 | -€12,737 | -€30,917 |
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 29 October 2026 via checked.be.