VAN POUCKE STAAL: 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 POUCKE STAAL
Largest movements
- Receivables within one year +€563,310
up €563,310 (+1,290%), from €43,672 to €606,982
of which Trade receivables: +€572,024
- Cash +€38,895
up €38,895 (+75.2%), from €51,714 to €90,609
mainly Other debts (+€314,205) and Advances received (+€200,000)
- Tangible fixed assets -€16,287
down €16,287 (-92.4%), from €17,631 to €1,344
of which Land and buildings: -€17,631
- Financial fixed assets -€9,603
down €9,603 (-100%), from €9,603 to €0
- Profit (loss) carried forward -€478,995
down €478,995 (-234%), from -€204,468 to -€683,464
- Reserves +€437,848
up €437,848 (+881%), from €49,720 to €487,568
of which Tax-exempt reserves: +€437,848
- Other debts +€314,205
up €314,205 (+235%), from €133,555 to €447,760
- Advances received +€200,000
new in 2025: €200,000
- Provisions +€145,949
new in 2025: €145,949
- Gross operating margin +€583,397
up €583,397 (+791%), from €73,742 to €657,139
- Other operating charges -€27,154
down €27,154 (-59.9%), from €45,345 to €18,192
- Depreciation -€11,409
down €11,409 (-99.2%), from €11,499 to €90
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 | €122,620 | €701,248 | +€578,628 | +472% |
| Fixed assets | 21/28 | €27,233 | €1,344 | -€25,889 | -95.1% |
| Tangible fixed assets | 22/27 | €17,631 | €1,344 | -€16,287 | -92.4% |
| Land and buildings | 22 | €17,631 | €0 | -€17,631 | -100% |
| Furniture and vehicles | 24 | - | €1,344 | +€1,344 | |
| Financial fixed assets | 28 | €9,603 | €0 | -€9,603 | -100% |
| Current assets | 29/58 | €95,387 | €699,904 | +€604,518 | +634% |
| Amounts receivable within one year | 40/41 | €43,672 | €606,982 | +€563,310 | +1,290% |
| Trade receivables | 40 | €32,322 | €604,346 | +€572,024 | +1,770% |
| Other amounts receivable | 41 | €11,350 | €2,636 | -€8,714 | -76.8% |
| Cash at bank and in hand | 54/58 | €51,714 | €90,609 | +€38,895 | +75.2% |
| Deferred charges and accrued income | 490/1 | - | €2,313 | +€2,313 | |
| Total equity and liabilities | 10/49 | €122,620 | €701,248 | +€578,628 | +472% |
| Equity | 10/15 | -€92,279 | -€133,427 | -€41,148 | -44.6% |
| Contributions | 10/11 | €62,469 | €62,469 | = | 0.0% |
| Capital | 10 | €62,469 | €62,469 | = | 0.0% |
| Issued capital | 100 | €62,469 | €62,469 | = | 0.0% |
| Reserves | 13 | €49,720 | €487,568 | +€437,848 | +881% |
| Non-distributable reserves | 130/1 | €6,247 | €6,247 | = | 0.0% |
| Legal reserve | 130 | €6,247 | €6,247 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €437,848 | +€437,848 | |
| Distributable reserves | 133 | €43,473 | €43,473 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€204,468 | -€683,464 | -€478,995 | -234% |
| Provisions and deferred taxes | 16 | - | €145,949 | +€145,949 | |
| Deferred taxes | 168 | - | €145,949 | +€145,949 | |
| Amounts payable | 17/49 | €214,899 | €688,726 | +€473,827 | +220% |
| Amounts payable within one year | 42/48 | €169,264 | €688,726 | +€519,461 | +307% |
| Trade debts | 44 | €26,903 | €36,777 | +€9,873 | +36.7% |
| Suppliers | 440/4 | €26,903 | €36,777 | +€9,873 | +36.7% |
| Advances received on contracts in progress | 46 | - | €200,000 | +€200,000 | |
| Taxes, remuneration and social security | 45 | €8,806 | €4,189 | -€4,617 | -52.4% |
| Taxes | 450/3 | €5,009 | €4,189 | -€820 | -16.4% |
| Remuneration and social security | 454/9 | €3,797 | €0 | -€3,797 | -100% |
| Other amounts payable | 47/48 | €133,555 | €447,760 | +€314,205 | +235% |
| Accrued charges and deferred income | 492/3 | €45,635 | €0 | -€45,635 | -100% |
| Non-recurring operating income | 76A | €0 | €599,743 | +€599,743 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,499 | €90 | -€11,409 | -99.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €45,345 | €18,192 | -€27,154 | -59.9% |
| Non-recurring operating charges | 66A | €0 | €526,428 | +€526,428 | |
| Gross operating margin | 9900 | €73,742 | €657,139 | +€583,397 | +791% |
| Operating profit (loss) | 9901 | €16,897 | €112,429 | +€95,532 | +565% |
| Financial income | 75/76B | €0 | €1 | +€0 | +92.3% |
| Recurring financial income | 75 | €0 | €1 | +€0 | +92.3% |
| Financial charges | 65/66B | €5,806 | €7,628 | +€1,822 | +31.4% |
| Recurring financial charges | 65 | €5,806 | €5,355 | -€451 | -7.8% |
| Non-recurring financial charges | 66B | - | €2,273 | +€2,273 | |
| Profit (loss) for the period before taxes | 9903 | €11,091 | €104,802 | +€93,710 | +845% |
| Transfer to deferred taxes | 680 | - | €145,949 | +€145,949 | |
| Profit (loss) for the period | 9904 | €11,091 | -€41,148 | -€52,239 | |
| Transfer to tax-exempt reserves | 689 | - | €437,848 | +€437,848 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,091 | -€478,995 | -€490,087 |
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.