AN VIJVERMAN: 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.
AN VIJVERMAN
Largest movements
- Receivables after one year -€237,500
down €237,500 (-100%), from €237,500 to €0
- Cash +€227,649
up €227,649 (+93.2%), from €244,307 to €471,956
mainly Net result for the year (+€258,354) and Receivables after one year (+€237,500)
- Receivables within one year +€87,479
up €87,479 (+528%), from €16,581 to €104,061
of which Trade receivables: +€81,022
- Tangible fixed assets -€30,152
down €30,152 (-7.9%), from €383,475 to €353,323
of which Land and buildings: -€23,880
- Reserves +€90,890
up €90,890 (+6.0%), from €1.5m to €1.6m
of which Distributable reserves: +€92,750
- Other debts -€67,510
down €67,510 (-46.1%), from €146,284 to €78,775
- Tax, wage and social debts +€22,597
up €22,597 (+58.3%), from €38,732 to €61,329
of which Taxes: +€24,761
- Gross operating margin +€95,074
up €95,074 (+26.6%), from €356,771 to €451,846
- Taxes +€25,757
up €25,757 (+23.8%), from €108,205 to €133,962
- Financial charges +€16,924
up €16,924 (+199%), from €8,508 to €25,432
- Depreciation -€6,594
down €6,594 (-12.9%), from €51,310 to €44,717
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 | €1,820,691 | €1,845,138 | +€24,447 | +1.3% |
| Fixed assets | 21/28 | €383,475 | €353,323 | -€30,152 | -7.9% |
| Tangible fixed assets | 22/27 | €383,475 | €353,323 | -€30,152 | -7.9% |
| Land and buildings | 22 | €338,460 | €314,580 | -€23,880 | -7.1% |
| Plant, machinery and equipment | 23 | €8,627 | €5,593 | -€3,034 | -35.2% |
| Furniture and vehicles | 24 | €18,900 | €7,862 | -€11,038 | -58.4% |
| Other tangible fixed assets | 26 | €17,488 | €25,288 | +€7,800 | +44.6% |
| Current assets | 29/58 | €1,437,217 | €1,491,815 | +€54,599 | +3.8% |
| Amounts receivable after more than one year | 29 | €237,500 | €0 | -€237,500 | -100% |
| Other amounts receivable | 291 | €237,500 | €0 | -€237,500 | -100% |
| Amounts receivable within one year | 40/41 | €16,581 | €104,061 | +€87,479 | +528% |
| Trade receivables | 40 | €16,581 | €97,603 | +€81,022 | +489% |
| Other amounts receivable | 41 | - | €6,458 | +€6,458 | |
| Current investments | 50/53 | €913,493 | €907,625 | -€5,868 | -0.6% |
| Cash at bank and in hand | 54/58 | €244,307 | €471,956 | +€227,649 | +93.2% |
| Deferred charges and accrued income | 490/1 | €25,335 | €8,173 | -€17,162 | -67.7% |
| Total equity and liabilities | 10/49 | €1,820,691 | €1,845,138 | +€24,447 | +1.3% |
| Equity | 10/15 | €1,537,124 | €1,628,014 | +€90,890 | +5.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,524,724 | €1,615,614 | +€90,890 | +6.0% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100% |
| Distributable reserves | 133 | €1,522,864 | €1,615,614 | +€92,750 | +6.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €283,567 | €217,124 | -€66,443 | -23.4% |
| Amounts payable after more than one year | 17 | €45,000 | €30,000 | -€15,000 | -33.3% |
| Financial debts | 170/4 | €45,000 | €30,000 | -€15,000 | -33.3% |
| Amounts payable within one year | 42/48 | €224,754 | €179,332 | -€45,421 | -20.2% |
| Current portion of amounts payable after more than one year | 42 | €15,000 | €15,000 | = | 0.0% |
| Trade debts | 44 | €24,738 | €24,229 | -€509 | -2.1% |
| Suppliers | 440/4 | €24,738 | €24,229 | -€509 | -2.1% |
| Taxes, remuneration and social security | 45 | €38,732 | €61,329 | +€22,597 | +58.3% |
| Taxes | 450/3 | €34,026 | €58,788 | +€24,761 | +72.8% |
| Remuneration and social security | 454/9 | €4,705 | €2,541 | -€2,165 | -46.0% |
| Other amounts payable | 47/48 | €146,284 | €78,775 | -€67,510 | -46.1% |
| Accrued charges and deferred income | 492/3 | €13,813 | €7,791 | -€6,022 | -43.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,310 | €44,717 | -€6,594 | -12.9% |
| Other operating charges | 640/8 | €7,008 | €9,638 | +€2,631 | +37.5% |
| Gross operating margin | 9900 | €356,771 | €451,846 | +€95,074 | +26.6% |
| Operating profit (loss) | 9901 | €298,453 | €397,491 | +€99,037 | +33.2% |
| Financial income | 75/76B | €20,333 | €20,257 | -€76 | -0.4% |
| Recurring financial income | 75 | €20,333 | €20,257 | -€76 | -0.4% |
| Financial charges | 65/66B | €8,508 | €25,432 | +€16,924 | +199% |
| Recurring financial charges | 65 | €8,508 | €25,432 | +€16,924 | +199% |
| Profit (loss) for the period before taxes | 9903 | €310,279 | €392,316 | +€82,037 | +26.4% |
| Income taxes | 67/77 | €108,205 | €133,962 | +€25,757 | +23.8% |
| Profit (loss) for the period | 9904 | €202,074 | €258,354 | +€56,280 | +27.9% |
| Profit (loss) for the period to be appropriated | 9905 | €202,074 | €258,354 | +€56,280 | +27.9% |
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 26 October 2026 via checked.be.