Van Rul 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 Rul David
Largest movements
- Stocks and contracts +€5,390
up €5,390 (+204%), from €2,637 to €8,027
- Cash +€5,050
up €5,050 (+52.3%), from €9,655 to €14,705
mainly Other debts (+€43,211) and Depreciation (+€24,094)
- Receivables within one year +€4,827
up €4,827 (+128%), from €3,771 to €8,598
of which Trade receivables: +€6,673
- Tangible fixed assets +€4,188
up €4,188 (+2.8%), from €151,610 to €155,798
of which Plant, machinery and equipment: +€13,246
- Other debts +€43,211
up €43,211 (+167%), from €25,854 to €69,066
- Profit (loss) carried forward -€12,287
down €12,287 (-41.6%), from -€29,506 to -€41,793
- Debts after one year -€9,521
down €9,521 (-11.5%), from €82,723 to €73,201
- Trade debts -€1,989
down €1,989 (-29.6%), from €6,722 to €4,734
- Gross operating margin +€23,603
up €23,603, from -€6,256 to €17,347
- Depreciation +€6,275
up €6,275 (+35.2%), from €17,819 to €24,094
- Staff costs +€1,112
up €1,112 (+757%), from €147 to €1,259
- Other operating charges -€789
down €789 (-27.5%), from €2,867 to €2,078
- Financial charges -€215
down €215 (-8.9%), from €2,427 to €2,211
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 | €173,274 | €193,390 | +€20,116 | +11.6% |
| Fixed assets | 21/28 | €151,640 | €155,828 | +€4,188 | +2.8% |
| Tangible fixed assets | 22/27 | €151,610 | €155,798 | +€4,188 | +2.8% |
| Land and buildings | 22 | €124,574 | €114,741 | -€9,833 | -7.9% |
| Plant, machinery and equipment | 23 | €12,881 | €26,128 | +€13,246 | +103% |
| Furniture and vehicles | 24 | €14,154 | €14,929 | +€775 | +5.5% |
| Financial fixed assets | 28 | €30 | €30 | = | 0.0% |
| Current assets | 29/58 | €21,634 | €37,562 | +€15,928 | +73.6% |
| Stocks and contracts in progress | 3 | €2,637 | €8,027 | +€5,390 | +204% |
| Stocks | 30/36 | €2,637 | €8,027 | +€5,390 | +204% |
| Amounts receivable within one year | 40/41 | €3,771 | €8,598 | +€4,827 | +128% |
| Trade receivables | 40 | - | €6,673 | +€6,673 | |
| Other amounts receivable | 41 | €3,771 | €1,925 | -€1,846 | -48.9% |
| Cash at bank and in hand | 54/58 | €9,655 | €14,705 | +€5,050 | +52.3% |
| Deferred charges and accrued income | 490/1 | €5,571 | €6,232 | +€661 | +11.9% |
| Total equity and liabilities | 10/49 | €173,274 | €193,390 | +€20,116 | +11.6% |
| Equity | 10/15 | €48,672 | €36,385 | -€12,287 | -25.2% |
| Contributions | 10/11 | €13,200 | €13,200 | = | 0.0% |
| Reserves | 13 | €64,978 | €64,978 | = | 0.0% |
| Distributable reserves | 133 | €64,978 | €64,978 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€29,506 | -€41,793 | -€12,287 | -41.6% |
| Amounts payable | 17/49 | €124,602 | €157,005 | +€32,403 | +26.0% |
| Amounts payable after more than one year | 17 | €82,723 | €73,201 | -€9,521 | -11.5% |
| Financial debts | 170/4 | €82,723 | €73,201 | -€9,521 | -11.5% |
| Amounts payable within one year | 42/48 | €41,879 | €83,804 | +€41,925 | +100% |
| Current portion of amounts payable after more than one year | 42 | €9,303 | €9,521 | +€218 | +2.3% |
| Trade debts | 44 | €6,722 | €4,734 | -€1,989 | -29.6% |
| Suppliers | 440/4 | €6,722 | €4,734 | -€1,989 | -29.6% |
| Taxes, remuneration and social security | 45 | - | €484 | +€484 | |
| Taxes | 450/3 | - | €484 | +€484 | |
| Other amounts payable | 47/48 | €25,854 | €69,066 | +€43,211 | +167% |
| Remuneration, social security and pensions | 62 | €147 | €1,259 | +€1,112 | +757% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,819 | €24,094 | +€6,275 | +35.2% |
| Other operating charges | 640/8 | €2,867 | €2,078 | -€789 | -27.5% |
| Gross operating margin | 9900 | -€6,256 | €17,347 | +€23,603 | |
| Operating profit (loss) | 9901 | -€27,089 | -€10,083 | +€17,006 | +62.8% |
| Financial income | 75/76B | €9 | €8 | -€2 | -18.4% |
| Recurring financial income | 75 | €9 | €8 | -€2 | -18.4% |
| Financial charges | 65/66B | €2,427 | €2,211 | -€215 | -8.9% |
| Recurring financial charges | 65 | €2,427 | €2,211 | -€215 | -8.9% |
| Profit (loss) for the period before taxes | 9903 | -€29,506 | -€12,287 | +€17,219 | +58.4% |
| Profit (loss) for the period | 9904 | -€29,506 | -€12,287 | +€17,219 | +58.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€29,506 | -€12,287 | +€17,219 | +58.4% |
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 19 October 2026 via checked.be.