BERNARD VANDERPLAETSEN: 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 VANDERPLAETSEN
Largest movements
- Cash +€125,406
up €125,406 (+704%), from €17,810 to €143,216
mainly Net result for the year (+€247,546) and Tax, wage and social debts (+€73,853)
- Tangible fixed assets -€38,266
down €38,266 (-2.5%), from €1.5m to €1.5m
of which Land and buildings: -€40,587
- Reserves +€147,546
up €147,546 (+15.6%), from €946,111 to €1.1m
- Debts after one year -€91,444
down €91,444 (-24.4%), from €375,222 to €283,778
- Tax, wage and social debts +€73,853
up €73,853 (+208%), from €35,462 to €109,315
- Other debts -€44,990
down €44,990 (-41.2%), from €109,078 to €64,088
- Gross operating margin +€223,652
up €223,652 (+101%), from €220,376 to €444,028
- Taxes +€76,134
up €76,134 (+137%), from €55,611 to €131,745
- Financial charges -€8,369
down €8,369 (-35.7%), from €23,429 to €15,060
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 | €1,586,628 | €1,678,299 | +€91,671 | +5.8% |
| Fixed assets | 21/28 | €1,558,577 | €1,520,311 | -€38,266 | -2.5% |
| Tangible fixed assets | 22/27 | €1,548,577 | €1,510,311 | -€38,266 | -2.5% |
| Land and buildings | 22 | €1,355,014 | €1,314,427 | -€40,587 | -3.0% |
| Plant, machinery and equipment | 23 | €4,761 | €4,988 | +€227 | +4.8% |
| Furniture and vehicles | 24 | €188,802 | €190,896 | +€2,094 | +1.1% |
| Financial fixed assets | 28 | €10,000 | €10,000 | = | 0.0% |
| Current assets | 29/58 | €28,051 | €157,988 | +€129,937 | +463% |
| Amounts receivable within one year | 40/41 | €10,241 | €14,773 | +€4,532 | +44.2% |
| Trade receivables | 40 | €10,000 | €14,773 | +€4,773 | +47.7% |
| Other amounts receivable | 41 | €241 | - | -€241 | |
| Cash at bank and in hand | 54/58 | €17,810 | €143,216 | +€125,406 | +704% |
| Total equity and liabilities | 10/49 | €1,586,628 | €1,678,299 | +€91,671 | +5.8% |
| Equity | 10/15 | €966,111 | €1,113,657 | +€147,546 | +15.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €946,111 | €1,093,657 | +€147,546 | +15.6% |
| Distributable reserves | 133 | €946,111 | €1,093,657 | +€147,546 | +15.6% |
| Amounts payable | 17/49 | €620,517 | €564,642 | -€55,875 | -9.0% |
| Amounts payable after more than one year | 17 | €375,222 | €283,778 | -€91,444 | -24.4% |
| Financial debts | 170/4 | €375,222 | €283,778 | -€91,444 | -24.4% |
| Amounts payable within one year | 42/48 | €245,295 | €266,497 | +€21,202 | +8.6% |
| Financial debts | 43 | €88,608 | €91,444 | +€2,837 | +3.2% |
| Credit institutions | 430/8 | €88,608 | €91,444 | +€2,837 | +3.2% |
| Trade debts | 44 | €47 | €1,650 | +€1,603 | +3,380% |
| Suppliers | 440/4 | €47 | €1,650 | +€1,603 | +3,380% |
| Advances received on contracts in progress | 46 | €12,100 | - | -€12,100 | |
| Taxes, remuneration and social security | 45 | €35,462 | €109,315 | +€73,853 | +208% |
| Taxes | 450/3 | €35,462 | €109,315 | +€73,853 | +208% |
| Other amounts payable | 47/48 | €109,078 | €64,088 | -€44,990 | -41.2% |
| Accrued charges and deferred income | 492/3 | - | €14,367 | +€14,367 | |
| Non-recurring operating income | 76A | €15,809 | - | -€15,809 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,197 | €48,106 | +€909 | +1.9% |
| Other operating charges | 640/8 | €1,282 | €1,571 | +€288 | +22.5% |
| Gross operating margin | 9900 | €220,376 | €444,028 | +€223,652 | +101% |
| Operating profit (loss) | 9901 | €171,896 | €394,351 | +€222,455 | +129% |
| Financial income | 75/76B | €93 | - | -€93 | |
| Recurring financial income | 75 | €93 | - | -€93 | |
| Financial charges | 65/66B | €23,429 | €15,060 | -€8,369 | -35.7% |
| Recurring financial charges | 65 | €23,429 | €15,060 | -€8,369 | -35.7% |
| Profit (loss) for the period before taxes | 9903 | €148,561 | €379,291 | +€230,730 | +155% |
| Income taxes | 67/77 | €55,611 | €131,745 | +€76,134 | +137% |
| Profit (loss) for the period | 9904 | €92,950 | €247,546 | +€154,596 | +166% |
| Profit (loss) for the period to be appropriated | 9905 | €92,950 | €247,546 | +€154,596 | +166% |
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 19 October 2026 via checked.be.