VANDE CAVEYE KOEN: what changed
VANDE CAVEYE KOEN
Largest movements
- Receivables within one year -€7,873
down €7,873 (-19.5%), from €40,316 to €32,443
of which Trade receivables: -€6,712
- Cash -€2,098
down €2,098 (-25.0%), from €8,383 to €6,285
mainly Contributions, distributions and other (-€28,000) and Investment in fixed assets (net) (-€5,490)
- Tangible fixed assets +€1,593
up €1,593 (+29.8%), from €5,346 to €6,939
of which Plant, machinery and equipment: +€3,424
- Reserves -€29,860
down €29,860 (-38.4%), from €77,860 to €48,000
of which Distributable reserves: -€28,000
- Other debts +€28,000
new in 2025: €28,000
- Profit (loss) carried forward -€3,484
down €3,484 (-50.0%), from €6,971 to €3,487
- Trade debts -€1,578
down €1,578 (-57.3%), from €2,756 to €1,178
- Tax, wage and social debts -€1,481
down €1,481 (-27.2%), from €5,449 to €3,967
- Gross operating margin -€16,839
down €16,839, from €15,411 to -€1,428
- Taxes -€3,721
down €3,721 (-95.7%), from €3,888 to €167
- Depreciation +€649
up €649 (+20.0%), from €3,249 to €3,898
- Other operating charges -€330
down €330 (-24.5%), from €1,350 to €1,020
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €105,635 | €97,232 | -€8,403 | -8.0% |
| Fixed assets | 21/28 | €5,346 | €6,939 | +€1,593 | +29.8% |
| Tangible fixed assets | 22/27 | €5,346 | €6,939 | +€1,593 | +29.8% |
| Plant, machinery and equipment | 23 | €304 | €3,728 | +€3,424 | +1,126% |
| Furniture and vehicles | 24 | €5,042 | €3,211 | -€1,831 | -36.3% |
| Current assets | 29/58 | €100,290 | €90,294 | -€9,996 | -10.0% |
| Amounts receivable after more than one year | 29 | €50,000 | €50,000 | = | 0.0% |
| Other amounts receivable | 291 | €50,000 | €50,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €500 | €500 | = | 0.0% |
| Stocks | 30/36 | €500 | €500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €40,316 | €32,443 | -€7,873 | -19.5% |
| Trade receivables | 40 | €15,153 | €8,441 | -€6,712 | -44.3% |
| Other amounts receivable | 41 | €25,164 | €24,002 | -€1,162 | -4.6% |
| Cash at bank and in hand | 54/58 | €8,383 | €6,285 | -€2,098 | -25.0% |
| Deferred charges and accrued income | 490/1 | €1,090 | €1,065 | -€25 | -2.3% |
| Total equity and liabilities | 10/49 | €105,635 | €97,232 | -€8,403 | -8.0% |
| Equity | 10/15 | €97,431 | €64,087 | -€33,344 | -34.2% |
| Contributions | 10/11 | €12,600 | €12,600 | = | 0.0% |
| Reserves | 13 | €77,860 | €48,000 | -€29,860 | -38.4% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €76,000 | €48,000 | -€28,000 | -36.8% |
| Profit (loss) carried forward | 14 | €6,971 | €3,487 | -€3,484 | -50.0% |
| Amounts payable | 17/49 | €8,205 | €33,145 | +€24,940 | +304% |
| Amounts payable within one year | 42/48 | €8,205 | €33,145 | +€24,940 | +304% |
| Trade debts | 44 | €2,756 | €1,178 | -€1,578 | -57.3% |
| Suppliers | 440/4 | €2,756 | €1,178 | -€1,578 | -57.3% |
| Taxes, remuneration and social security | 45 | €5,449 | €3,967 | -€1,481 | -27.2% |
| Taxes | 450/3 | €5,449 | €3,967 | -€1,481 | -27.2% |
| Other amounts payable | 47/48 | - | €28,000 | +€28,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,249 | €3,898 | +€649 | +20.0% |
| Other operating charges | 640/8 | €1,350 | €1,020 | -€330 | -24.5% |
| Gross operating margin | 9900 | €15,411 | -€1,428 | -€16,839 | |
| Operating profit (loss) | 9901 | €10,812 | -€6,345 | -€17,158 | |
| Financial income | 75/76B | €1,375 | €1,375 | +€0 | 0.0% |
| Recurring financial income | 75 | €1,375 | €1,375 | +€0 | 0.0% |
| Financial charges | 65/66B | €186 | €206 | +€20 | +10.9% |
| Recurring financial charges | 65 | €186 | €206 | +€20 | +10.9% |
| Profit (loss) for the period before taxes | 9903 | €12,001 | -€5,176 | -€17,178 | |
| Income taxes | 67/77 | €3,888 | €167 | -€3,721 | -95.7% |
| Profit (loss) for the period | 9904 | €8,113 | -€5,344 | -€13,457 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,113 | -€5,344 | -€13,457 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.