ADVOCAAT CURD VANACKER: 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.
ADVOCAAT CURD VANACKER
Largest movements
- Current investments +€50,000
up €50,000 (+20.0%), from €250,000 to €300,000
- Receivables within one year -€23,769
down €23,769 (-14.6%), from €162,597 to €138,828
of which Trade receivables: -€14,857
- Cash -€21,063
down €21,063 (-62.5%), from €33,686 to €12,623
mainly Current investments (-€50,000) and Tax, wage and social debts (-€15,999)
- Tangible fixed assets -€8,788
down €8,788 (-11.1%), from €78,933 to €70,145
of which Land and buildings: -€8,099
- Tax, wage and social debts -€15,999
down €15,999 (-66.9%), from €23,908 to €7,909
of which Taxes: -€16,118
- Reserves +€12,280
up €12,280 (+3.5%), from €349,539 to €361,820
- Other debts -€8,438
down €8,438 (-6.1%), from €139,195 to €130,758
- Gross operating margin -€56,887
down €56,887 (-50.9%), from €111,851 to €54,964
- Taxes -€9,625
down €9,625 (-53.1%), from €18,111 to €8,486
- Financial income -€3,574
down €3,574 (-39.0%), from €9,155 to €5,580
- Financial charges -€1,479
down €1,479 (-13.4%), from €11,042 to €9,563
- Staff costs +€1,398
up €1,398 (+10.5%), from €13,359 to €14,757
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 | €533,413 | €525,426 | -€7,987 | -1.5% |
| Fixed assets | 21/28 | €79,083 | €70,295 | -€8,788 | -11.1% |
| Tangible fixed assets | 22/27 | €78,933 | €70,145 | -€8,788 | -11.1% |
| Land and buildings | 22 | €70,003 | €61,904 | -€8,099 | -11.6% |
| Furniture and vehicles | 24 | €8,930 | €8,241 | -€690 | -7.7% |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €454,330 | €455,132 | +€802 | +0.2% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €162,597 | €138,828 | -€23,769 | -14.6% |
| Trade receivables | 40 | €91,469 | €76,612 | -€14,857 | -16.2% |
| Other amounts receivable | 41 | €71,128 | €62,216 | -€8,912 | -12.5% |
| Current investments | 50/53 | €250,000 | €300,000 | +€50,000 | +20.0% |
| Cash at bank and in hand | 54/58 | €33,686 | €12,623 | -€21,063 | -62.5% |
| Deferred charges and accrued income | 490/1 | €8,047 | €3,680 | -€4,367 | -54.3% |
| Total equity and liabilities | 10/49 | €533,413 | €525,426 | -€7,987 | -1.5% |
| Equity | 10/15 | €368,139 | €380,420 | +€12,280 | +3.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €349,539 | €361,820 | +€12,280 | +3.5% |
| Distributable reserves | 133 | €349,539 | €361,820 | +€12,280 | +3.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €165,274 | €145,007 | -€20,267 | -12.3% |
| Amounts payable within one year | 42/48 | €163,515 | €141,105 | -€22,410 | -13.7% |
| Trade debts | 44 | €412 | €2,439 | +€2,027 | +492% |
| Suppliers | 440/4 | €412 | €2,439 | +€2,027 | +492% |
| Taxes, remuneration and social security | 45 | €23,908 | €7,909 | -€15,999 | -66.9% |
| Taxes | 450/3 | €21,796 | €5,679 | -€16,118 | -73.9% |
| Remuneration and social security | 454/9 | €2,112 | €2,230 | +€118 | +5.6% |
| Other amounts payable | 47/48 | €139,195 | €130,758 | -€8,438 | -6.1% |
| Accrued charges and deferred income | 492/3 | €1,758 | €3,901 | +€2,143 | +122% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €13,359 | €14,757 | +€1,398 | +10.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,950 | €12,305 | +€355 | +3.0% |
| Other operating charges | 640/8 | €2,940 | €3,154 | +€214 | +7.3% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €111,851 | €54,964 | -€56,887 | -50.9% |
| Operating profit (loss) | 9901 | €83,603 | €24,749 | -€58,854 | -70.4% |
| Financial income | 75/76B | €9,155 | €5,580 | -€3,574 | -39.0% |
| Recurring financial income | 75 | €9,155 | €5,580 | -€3,574 | -39.0% |
| Financial charges | 65/66B | €11,042 | €9,563 | -€1,479 | -13.4% |
| Recurring financial charges | 65 | €11,042 | €9,563 | -€1,479 | -13.4% |
| Profit (loss) for the period before taxes | 9903 | €81,715 | €20,766 | -€60,949 | -74.6% |
| Income taxes | 67/77 | €18,111 | €8,486 | -€9,625 | -53.1% |
| Profit (loss) for the period | 9904 | €63,604 | €12,280 | -€51,324 | -80.7% |
| Profit (loss) for the period to be appropriated | 9905 | €63,604 | €12,280 | -€51,324 | -80.7% |
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 25 October 2026 via checked.be.