ANDRE VETS & Co: 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.
What changed
ANDRE VETS & Co
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€13,041
2024 · €40,208-€27,167
Equity
€20.2m
2024 · €20.2m+€13,041
Cash
€155,232
2024 · €78,148+€77,083
Balance sheet total
€20.3m
2024 · €20.3m+€3,216
Largest movements
Assets
- Receivables after one year +€1.4m
up €1.4m (+1,430%), from €100,000 to €1.5m
- Current investments -€1.4m
down €1.4m (-7.6%), from €18.0m to €16.6m
Equity and liabilities
No liability line moved by more than 1% of the balance sheet total.
Income statement
- Financial income -€18,516
down €18,516 (-12.5%), from €148,344 to €129,828
- Depreciation +€10,015
up €10,015 (+7.3%), from €136,481 to €146,495
- Financial charges -€6,503
down €6,503, from €3,833 to -€2,670
- Gross operating margin -€6,260
down €6,260 (-13.7%), from €45,528 to €39,268
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.
Result 2024
€40,208
Gross operating margin
-€6,260
Depreciation
-€10,015
Other operating charges
+€278
Other operating items
+€501
Financial income
-€18,516
Financial charges
+€6,503
Taxes
+€342
Result 2025
€13,041
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€1.3m
Investment
+€1.4m
Financing
+€50
Cash 2024
€78,148
From operations (derived)
-€1.3m
Net result for the year
+€13,041
Depreciation
+€146,495
Receivables after one year
-€1.4m
Smaller working-capital items
+€628
Deferred charges and accrued income
-€16,476
Other debts
+€5,235
Accrued charges and deferred income
-€16,004
Investment (derived)
+€1.4m
Current investments
+€1.4m
Financing
+€50
Debts after one year
+€50
Cash 2025
€155,232
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €20,259,041 | €20,262,257 | +€3,216 | 0.0% |
| Fixed assets | 21/28 | €2,072,303 | €1,925,807 | -€146,495 | -7.1% |
| Tangible fixed assets | 22/27 | €2,072,303 | €1,925,807 | -€146,495 | -7.1% |
| Land and buildings | 22 | €1,850,476 | €1,771,951 | -€78,525 | -4.2% |
| Plant, machinery and equipment | 23 | €2,821 | €1,586 | -€1,235 | -43.8% |
| Furniture and vehicles | 24 | €219,006 | €152,271 | -€66,735 | -30.5% |
| Current assets | 29/58 | €18,186,738 | €18,336,450 | +€149,711 | +0.8% |
| Amounts receivable after more than one year | 29 | €100,000 | €1,530,000 | +€1.4m | +1,430% |
| Other amounts receivable | 291 | €100,000 | €1,530,000 | +€1.4m | +1,430% |
| Amounts receivable within one year | 40/41 | €17,969 | €18,234 | +€265 | +1.5% |
| Trade receivables | 40 | €0 | €1,210 | +€1,210 | |
| Other amounts receivable | 41 | €17,969 | €17,024 | -€945 | -5.3% |
| Current investments | 50/53 | €17,984,586 | €16,610,473 | -€1.4m | -7.6% |
| Cash at bank and in hand | 54/58 | €78,148 | €155,232 | +€77,083 | +98.6% |
| Deferred charges and accrued income | 490/1 | €6,035 | €22,511 | +€16,476 | +273% |
| Total equity and liabilities | 10/49 | €20,259,041 | €20,262,257 | +€3,216 | 0.0% |
| Equity | 10/15 | €20,190,878 | €20,203,920 | +€13,041 | +0.1% |
| Contributions | 10/11 | €11,389,700 | €11,389,700 | = | 0.0% |
| Capital | 10 | €11,389,700 | €11,389,700 | = | 0.0% |
| Issued capital | 100 | €11,389,700 | €11,389,700 | = | 0.0% |
| Reserves | 13 | €20,066,268 | €20,066,268 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,138,970 | €1,138,970 | = | 0.0% |
| Legal reserve | 130 | €1,138,970 | €1,138,970 | = | 0.0% |
| Tax-exempt reserves | 132 | €447 | €447 | = | 0.0% |
| Distributable reserves | 133 | €18,926,852 | €18,926,852 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€11,265,090 | -€11,252,049 | +€13,041 | +0.1% |
| Amounts payable | 17/49 | €68,163 | €58,337 | -€9,826 | -14.4% |
| Amounts payable after more than one year | 17 | €250 | €300 | +€50 | +20.0% |
| Other amounts payable | 178/9 | €250 | €300 | +€50 | +20.0% |
| Amounts payable within one year | 42/48 | €5,306 | €11,435 | +€6,129 | +116% |
| Trade debts | 44 | €3,094 | €3,788 | +€694 | +22.4% |
| Suppliers | 440/4 | €3,094 | €3,788 | +€694 | +22.4% |
| Taxes, remuneration and social security | 45 | €1,560 | €1,760 | +€200 | +12.8% |
| Taxes | 450/3 | €29 | €210 | +€181 | +618% |
| Remuneration and social security | 454/9 | €1,531 | €1,550 | +€19 | +1.2% |
| Other amounts payable | 47/48 | €651 | €5,886 | +€5,235 | +804% |
| Accrued charges and deferred income | 492/3 | €62,607 | €46,603 | -€16,004 | -25.6% |
| Non-recurring operating income | 76A | €7,094 | - | -€7,094 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €136,481 | €146,495 | +€10,015 | +7.3% |
| Other operating charges | 640/8 | €12,228 | €11,950 | -€278 | -2.3% |
| Non-recurring operating charges | 66A | €501 | - | -€501 | |
| Gross operating margin | 9900 | €45,528 | €39,268 | -€6,260 | -13.7% |
| Operating profit (loss) | 9901 | -€103,682 | -€119,177 | -€15,495 | -14.9% |
| Financial income | 75/76B | €148,344 | €129,828 | -€18,516 | -12.5% |
| Recurring financial income | 75 | €148,344 | €129,828 | -€18,516 | -12.5% |
| Financial charges | 65/66B | €3,833 | -€2,670 | -€6,503 | |
| Recurring financial charges | 65 | €3,833 | -€2,670 | -€6,503 | |
| Profit (loss) for the period before taxes | 9903 | €40,829 | €13,321 | -€27,508 | -67.4% |
| Income taxes | 67/77 | €621 | €279 | -€342 | -55.0% |
| Profit (loss) for the period | 9904 | €40,208 | €13,041 | -€27,167 | -67.6% |
| Profit (loss) for the period to be appropriated | 9905 | €40,208 | €13,041 | -€27,167 | -67.6% |
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 15 October 2026 via checked.be.