ANN VANTIEGHEM: 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.
ANN VANTIEGHEM
Largest movements
- Cash +€38,657
up €38,657 (+38.3%), from €101,060 to €139,717
mainly Net result for the year (+€68,736) and Depreciation (+€4,927)
- Tangible fixed assets +€14,894
up €14,894 (+84.1%), from €17,711 to €32,605
of which Plant, machinery and equipment: +€15,136
- Current investments +€10,333
up €10,333 (+8.5%), from €122,045 to €132,378
- Reserves +€68,736
up €68,736 (+26.8%), from €256,812 to €325,549
- Other debts -€3,480
down €3,480 (-31.7%), from €10,980 to €7,500
- Gross operating margin -€7,249
down €7,249 (-7.2%), from €100,935 to €93,686
- Taxes -€2,437
down €2,437 (-8.9%), from €27,512 to €25,074
- Financial income +€1,674
up €1,674 (+39.8%), from €4,201 to €5,874
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 | €244,722 | €309,824 | +€65,102 | +26.6% |
| Fixed assets | 21/28 | €17,956 | €32,850 | +€14,894 | +83.0% |
| Tangible fixed assets | 22/27 | €17,711 | €32,605 | +€14,894 | +84.1% |
| Plant, machinery and equipment | 23 | €15,575 | €30,711 | +€15,136 | +97.2% |
| Furniture and vehicles | 24 | €2,136 | €1,894 | -€242 | -11.3% |
| Financial fixed assets | 28 | €245 | €245 | = | 0.0% |
| Current assets | 29/58 | €226,766 | €276,974 | +€50,208 | +22.1% |
| Current investments | 50/53 | €122,045 | €132,378 | +€10,333 | +8.5% |
| Cash at bank and in hand | 54/58 | €101,060 | €139,717 | +€38,657 | +38.3% |
| Deferred charges and accrued income | 490/1 | €3,661 | €4,878 | +€1,218 | +33.3% |
| Total equity and liabilities | 10/49 | €244,722 | €309,824 | +€65,102 | +26.6% |
| Equity | 10/15 | €226,149 | €294,885 | +€68,736 | +30.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €256,812 | €325,549 | +€68,736 | +26.8% |
| Distributable reserves | 133 | €256,812 | €325,549 | +€68,736 | +26.8% |
| Profit (loss) carried forward | 14 | -€50,663 | -€50,663 | = | 0.0% |
| Amounts payable | 17/49 | €18,573 | €14,938 | -€3,634 | -19.6% |
| Amounts payable within one year | 42/48 | €18,573 | €14,938 | -€3,634 | -19.6% |
| Trade debts | 44 | €1,630 | €3,002 | +€1,373 | +84.2% |
| Suppliers | 440/4 | €1,630 | €3,002 | +€1,373 | +84.2% |
| Taxes, remuneration and social security | 45 | €5,963 | €4,436 | -€1,527 | -25.6% |
| Taxes | 450/3 | €5,963 | €4,436 | -€1,527 | -25.6% |
| Other amounts payable | 47/48 | €10,980 | €7,500 | -€3,480 | -31.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,487 | €4,927 | +€440 | +9.8% |
| Other operating charges | 640/8 | €152 | €154 | +€2 | +1.3% |
| Non-recurring operating charges | 66A | €738 | - | -€738 | |
| Gross operating margin | 9900 | €100,935 | €93,686 | -€7,249 | -7.2% |
| Operating profit (loss) | 9901 | €95,558 | €88,605 | -€6,953 | -7.3% |
| Financial income | 75/76B | €4,201 | €5,874 | +€1,674 | +39.8% |
| Recurring financial income | 75 | €4,201 | €5,874 | +€1,674 | +39.8% |
| Financial charges | 65/66B | €119 | €668 | +€549 | +462% |
| Recurring financial charges | 65 | €119 | €668 | +€549 | +462% |
| Profit (loss) for the period before taxes | 9903 | €99,640 | €93,811 | -€5,829 | -5.8% |
| Income taxes | 67/77 | €27,512 | €25,074 | -€2,437 | -8.9% |
| Profit (loss) for the period | 9904 | €72,128 | €68,736 | -€3,392 | -4.7% |
| Profit (loss) for the period to be appropriated | 9905 | €72,128 | €68,736 | -€3,392 | -4.7% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.