Bernard De Vos: 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.
Bernard De Vos
Largest movements
- Cash +€219,278
up €219,278 (+26.5%), from €827,420 to €1.0m
mainly Net result for the year (+€344,398) and Receivables within one year (+€145,328)
- Receivables within one year -€145,328
down €145,328 (-79.5%), from €182,760 to €37,432
of which Trade receivables: -€145,401
- Reserves +€78,661
up €78,661 (+4.1%), from €1.9m to €2.0m
- Tax, wage and social debts -€72,379
down €72,379 (-91.5%), from €79,077 to €6,698
- Trade debts +€48,436
up €48,436 (+8,553%), from €566 to €49,003
- Gross operating margin -€232,744
down €232,744 (-36.9%), from €630,334 to €397,590
- Taxes -€76,739
down €76,739 (-38.5%), from €199,487 to €122,748
- Financial income +€65,843
up €65,843 (+286%), from €23,011 to €88,853
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 | €2,021,223 | €2,095,442 | +€74,218 | +3.7% |
| Fixed assets | 21/28 | €317,366 | €307,246 | -€10,120 | -3.2% |
| Tangible fixed assets | 22/27 | €317,366 | €307,246 | -€10,120 | -3.2% |
| Furniture and vehicles | 24 | €4,661 | €4,688 | +€27 | +0.6% |
| Other tangible fixed assets | 26 | €312,705 | €302,558 | -€10,147 | -3.2% |
| Current assets | 29/58 | €1,703,857 | €1,788,195 | +€84,338 | +4.9% |
| Amounts receivable within one year | 40/41 | €182,760 | €37,432 | -€145,328 | -79.5% |
| Trade receivables | 40 | €182,760 | €37,359 | -€145,401 | -79.6% |
| Other amounts receivable | 41 | €0 | €73 | +€73 | |
| Current investments | 50/53 | €693,222 | €703,583 | +€10,361 | +1.5% |
| Cash at bank and in hand | 54/58 | €827,420 | €1,046,697 | +€219,278 | +26.5% |
| Deferred charges and accrued income | 490/1 | €456 | €483 | +€27 | +6.0% |
| Total equity and liabilities | 10/49 | €2,021,223 | €2,095,442 | +€74,218 | +3.7% |
| Equity | 10/15 | €1,940,520 | €2,019,180 | +€78,661 | +4.1% |
| Contributions | 10/11 | €37,000 | €37,000 | = | 0.0% |
| Reserves | 13 | €1,903,520 | €1,982,180 | +€78,661 | +4.1% |
| Distributable reserves | 133 | €1,903,520 | €1,982,180 | +€78,661 | +4.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €80,704 | €76,261 | -€4,442 | -5.5% |
| Amounts payable within one year | 42/48 | €80,704 | €76,261 | -€4,442 | -5.5% |
| Trade debts | 44 | €566 | €49,003 | +€48,436 | +8,553% |
| Suppliers | 440/4 | €566 | €49,003 | +€48,436 | +8,553% |
| Taxes, remuneration and social security | 45 | €79,077 | €6,698 | -€72,379 | -91.5% |
| Taxes | 450/3 | €79,077 | €6,698 | -€72,379 | -91.5% |
| Other amounts payable | 47/48 | €1,060 | €20,561 | +€19,501 | +1,840% |
| Non-recurring operating income | 76A | €7,583 | €0 | -€7,583 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,750 | €12,907 | +€156 | +1.2% |
| Other operating charges | 640/8 | €5,258 | €3,551 | -€1,707 | -32.5% |
| Gross operating margin | 9900 | €630,334 | €397,590 | -€232,744 | -36.9% |
| Operating profit (loss) | 9901 | €612,326 | €381,132 | -€231,193 | -37.8% |
| Financial income | 75/76B | €23,011 | €88,853 | +€65,843 | +286% |
| Recurring financial income | 75 | €23,011 | €88,853 | +€65,843 | +286% |
| Financial charges | 65/66B | €3,381 | €2,839 | -€541 | -16.0% |
| Recurring financial charges | 65 | €3,381 | €2,839 | -€541 | -16.0% |
| Profit (loss) for the period before taxes | 9903 | €631,956 | €467,146 | -€164,809 | -26.1% |
| Income taxes | 67/77 | €199,487 | €122,748 | -€76,739 | -38.5% |
| Profit (loss) for the period | 9904 | €432,469 | €344,398 | -€88,070 | -20.4% |
| Profit (loss) for the period to be appropriated | 9905 | €432,469 | €344,398 | -€88,070 | -20.4% |
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 22 October 2026 via checked.be.