ARNAUD VANOEKEL: 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.
ARNAUD VANOEKEL
Largest movements
- Tangible fixed assets -€34,545
down €34,545 (-5.4%), from €636,480 to €601,935
of which Furniture and vehicles: -€19,160
- Cash -€31,754
down €31,754 (-5.6%), from €569,576 to €537,823
mainly Contributions, distributions and other (-€226,730) and Debts after one year (-€41,875)
- Reserves -€127,590
down €127,590 (-26.8%), from €476,730 to €349,140
- Other debts +€92,272
up €92,272 (+64.5%), from €143,000 to €235,272
- Debts after one year -€41,875
down €41,875 (-8.0%), from €526,511 to €484,636
- Gross operating margin -€161,950
down €161,950 (-45.1%), from €359,036 to €197,085
- Depreciation -€72,160
down €72,160 (-67.4%), from €107,055 to €34,895
- Financial charges +€26,597
up €26,597, from -€7,008 to €19,589
- Taxes -€20,045
down €20,045 (-29.0%), from €69,030 to €48,985
- Financial income +€4,553
up €4,553 (+147%), from €3,099 to €7,652
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 | €1,406,147 | €1,333,545 | -€72,602 | -5.2% |
| Fixed assets | 21/28 | €726,921 | €692,376 | -€34,545 | -4.8% |
| Tangible fixed assets | 22/27 | €636,480 | €601,935 | -€34,545 | -5.4% |
| Land and buildings | 22 | €582,774 | €568,774 | -€13,999 | -2.4% |
| Furniture and vehicles | 24 | €48,202 | €29,042 | -€19,160 | -39.7% |
| Other tangible fixed assets | 26 | €5,504 | €4,119 | -€1,386 | -25.2% |
| Financial fixed assets | 28 | €90,441 | €90,441 | = | 0.0% |
| Current assets | 29/58 | €679,226 | €641,169 | -€38,057 | -5.6% |
| Amounts receivable within one year | 40/41 | €6,022 | - | -€6,022 | |
| Other amounts receivable | 41 | €6,022 | - | -€6,022 | |
| Current investments | 50/53 | €99,999 | €99,999 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €569,576 | €537,823 | -€31,754 | -5.6% |
| Deferred charges and accrued income | 490/1 | €3,628 | €3,347 | -€281 | -7.7% |
| Total equity and liabilities | 10/49 | €1,406,147 | €1,333,545 | -€72,602 | -5.2% |
| Equity | 10/15 | €650,689 | €523,099 | -€127,590 | -19.6% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Contributions outside capital | 11 | €8,060 | - | -€8,060 | |
| Other | 1109/19 | €8,060 | - | -€8,060 | |
| Reserves | 13 | €476,730 | €349,140 | -€127,590 | -26.8% |
| Distributable reserves | 133 | €476,730 | €349,140 | -€127,590 | -26.8% |
| Profit (loss) carried forward | 14 | €165,899 | €165,899 | +€0 | 0.0% |
| Amounts payable | 17/49 | €755,458 | €810,446 | +€54,988 | +7.3% |
| Amounts payable after more than one year | 17 | €526,511 | €484,636 | -€41,875 | -8.0% |
| Financial debts | 170/4 | €526,511 | €484,636 | -€41,875 | -8.0% |
| Amounts payable within one year | 42/48 | €228,947 | €323,760 | +€94,813 | +41.4% |
| Current portion of amounts payable after more than one year | 42 | €50,893 | €51,875 | +€982 | +1.9% |
| Trade debts | 44 | €2,205 | €4,337 | +€2,132 | +96.7% |
| Suppliers | 440/4 | €2,205 | €4,337 | +€2,132 | +96.7% |
| Taxes, remuneration and social security | 45 | €32,849 | €32,276 | -€573 | -1.7% |
| Taxes | 450/3 | €32,849 | €32,276 | -€573 | -1.7% |
| Other amounts payable | 47/48 | €143,000 | €235,272 | +€92,272 | +64.5% |
| Accrued charges and deferred income | 492/3 | - | €2,050 | +€2,050 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €107,055 | €34,895 | -€72,160 | -67.4% |
| Other operating charges | 640/8 | €2,786 | €2,129 | -€657 | -23.6% |
| Gross operating margin | 9900 | €359,036 | €197,085 | -€161,950 | -45.1% |
| Operating profit (loss) | 9901 | €249,195 | €160,062 | -€89,133 | -35.8% |
| Financial income | 75/76B | €3,099 | €7,652 | +€4,553 | +147% |
| Recurring financial income | 75 | €3,099 | €7,652 | +€4,553 | +147% |
| Financial charges | 65/66B | -€7,008 | €19,589 | +€26,597 | |
| Recurring financial charges | 65 | -€7,008 | €19,589 | +€26,597 | |
| Profit (loss) for the period before taxes | 9903 | €259,302 | €148,125 | -€111,177 | -42.9% |
| Income taxes | 67/77 | €69,030 | €48,985 | -€20,045 | -29.0% |
| Profit (loss) for the period | 9904 | €190,272 | €99,140 | -€91,132 | -47.9% |
| Profit (loss) for the period to be appropriated | 9905 | €190,272 | €99,140 | -€91,132 | -47.9% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.