BECK -VANTHILLO: what changed
Two fiscal 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.
BECK -VANTHILLO
Largest movements
- Cash +€844,461
up €844,461 (+532.3%), from €158,639 to €1.0m
mainly Other debts (+€372,805) and Depreciation (+€331,820)
- Receivables within one year -€236,102
down €236,102 (-50.8%), from €465,072 to €228,970
of which Other amounts receivable: -€185,686
- Stocks and contracts -€197,600
down €197,600 (-16.8%), from €1.2m to €977,400
- Tangible fixed assets +€174,200
up €174,200 (+7.0%), from €2.5m to €2.7m
of which Plant, machinery and equipment: +€109,640
- Other debts +€372,805
up €372,805 (+144.8%), from €257,393 to €630,198
- Trade debts +€115,617
up €115,617 (+34.4%), from €335,616 to €451,233
- Debts after one year +€107,636
up €107,636 (+6.2%), from €1.7m to €1.8m
- Reserves -€94,400
down €94,400 (-7.2%), from €1.3m to €1.2m
- Taxes -€39,712
down €39,712 (-27.6%), from €143,944 to €104,232
- Depreciation +€34,735
up €34,735 (+11.7%), from €297,085 to €331,820
- Gross operating margin -€34,397
down €34,397 (-3.7%), from €921,014 to €886,617
- Financial charges -€22,922
down €22,922 (-21.4%), from €106,988 to €84,066
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.
Cash bridge derived
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 | €4,324,712 | €4,912,833 | +€588,121 | +13.6% |
| Fixed assets | 21/28 | €2,502,789 | €2,676,989 | +€174,200 | +7.0% |
| Tangible fixed assets | 22/27 | €2,494,539 | €2,668,739 | +€174,200 | +7.0% |
| Land and buildings | 22 | €2,045,526 | €2,101,494 | +€55,969 | +2.7% |
| Plant, machinery and equipment | 23 | €443,830 | €553,470 | +€109,640 | +24.7% |
| Furniture and vehicles | 24 | €5,183 | €13,775 | +€8,591 | +165.7% |
| Financial fixed assets | 28 | €8,250 | €8,250 | = | 0.0% |
| Current assets | 29/58 | €1,821,923 | €2,235,844 | +€413,921 | +22.7% |
| Stocks and contracts in progress | 3 | €1,175,000 | €977,400 | -€197,600 | -16.8% |
| Stocks | 30/36 | €1,175,000 | €977,400 | -€197,600 | -16.8% |
| Amounts receivable within one year | 40/41 | €465,072 | €228,970 | -€236,102 | -50.8% |
| Trade receivables | 40 | €117,985 | €67,569 | -€50,416 | -42.7% |
| Other amounts receivable | 41 | €347,088 | €161,402 | -€185,686 | -53.5% |
| Cash at bank and in hand | 54/58 | €158,639 | €1,003,100 | +€844,461 | +532.3% |
| Deferred charges and accrued income | 490/1 | €23,212 | €26,374 | +€3,162 | +13.6% |
| Total equity and liabilities | 10/49 | €4,324,712 | €4,912,833 | +€588,121 | +13.6% |
| Equity | 10/15 | €1,658,277 | €1,590,448 | -€67,828 | -4.1% |
| Contributions | 10/11 | €195,000 | €195,000 | = | 0.0% |
| Outside capital | 11 | €195,000 | - | -€195,000 | |
| Other | 1109/19 | €195,000 | - | -€195,000 | |
| Reserves | 13 | €1,308,228 | €1,213,828 | -€94,400 | -7.2% |
| Distributable reserves | 133 | €1,308,228 | €1,213,828 | -€94,400 | -7.2% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Investment grants | 15 | €155,049 | €181,620 | +€26,571 | +17.1% |
| Amounts payable | 17/49 | €2,666,435 | €3,322,385 | +€655,950 | +24.6% |
| Amounts payable after more than one year | 17 | €1,739,944 | €1,847,580 | +€107,636 | +6.2% |
| Financial debts | 170/4 | €1,739,944 | €1,847,580 | +€107,636 | +6.2% |
| Amounts payable within one year | 42/48 | €926,491 | €1,474,805 | +€548,314 | +59.2% |
| Current portion of amounts payable after more than one year | 42 | €306,436 | €332,364 | +€25,928 | +8.5% |
| Trade debts | 44 | €335,616 | €451,233 | +€115,617 | +34.4% |
| Suppliers | 440/4 | €335,616 | €451,233 | +€115,617 | +34.4% |
| Taxes, remuneration and social security | 45 | €27,046 | €61,010 | +€33,963 | +125.6% |
| Taxes | 450/3 | €19,186 | €54,232 | +€35,046 | +182.7% |
| Remuneration and social security | 454/9 | €7,860 | €6,778 | -€1,082 | -13.8% |
| Other amounts payable | 47/48 | €257,393 | €630,198 | +€372,805 | +144.8% |
| Remuneration, social security and pensions | 62 | €59,244 | €62,949 | +€3,705 | +6.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €297,085 | €331,820 | +€34,735 | +11.7% |
| Other operating charges | 640/8 | €11,336 | €12,846 | +€1,510 | +13.3% |
| Gross operating margin | 9900 | €921,014 | €886,617 | -€34,397 | -3.7% |
| Operating profit (loss) | 9901 | €553,349 | €479,002 | -€74,347 | -13.4% |
| Financial income | 75/76B | €36,342 | €27,548 | -€8,794 | -24.2% |
| Recurring financial income | 75 | €36,342 | €27,548 | -€8,794 | -24.2% |
| Financial charges | 65/66B | €106,988 | €84,066 | -€22,922 | -21.4% |
| Recurring financial charges | 65 | €106,988 | €84,066 | -€22,922 | -21.4% |
| Profit (loss) for the period before taxes | 9903 | €482,703 | €422,484 | -€60,219 | -12.5% |
| Income taxes | 67/77 | €143,944 | €104,232 | -€39,712 | -27.6% |
| Profit (loss) for the period | 9904 | €338,759 | €318,252 | -€20,507 | -6.1% |
| Profit (loss) for the period to be appropriated | 9905 | €338,759 | €318,252 | -€20,507 | -6.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.