BERT VANACKER: 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.
BERT VANACKER
Largest movements
- Receivables within one year -€43,985
down €43,985 (-40.0%), from €109,959 to €65,974
of which Trade receivables: -€48,888
- Tangible fixed assets -€6,008
down €6,008 (-2.3%), from €262,659 to €256,650
of which Land and buildings: -€5,943
- Trade debts -€52,243
down €52,243 (-64.6%), from €80,907 to €28,663
- Reserves -€33,891
down €33,891 (-100.0%), from €33,891 to €0
- Profit (loss) carried forward +€21,004
up €21,004 (+63.2%), from -€33,249 to -€12,245
- Debts after one year +€12,194
up €12,194 (+5.0%), from €245,619 to €257,813
- Current portion of long-term debt +€5,748
up €5,748 (+47.5%), from €12,107 to €17,855
- Gross operating margin -€38,610
down €38,610 (-88.2%), from €43,770 to €5,160
- Other operating charges -€2,138
down €2,138 (-51.1%), from €4,183 to €2,045
- Financial charges -€1,487
down €1,487 (-11.0%), from €13,557 to €12,070
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 | €397,865 | €346,078 | -€51,787 | -13.0% |
| Fixed assets | 21/28 | €267,719 | €259,180 | -€8,538 | -3.2% |
| Tangible fixed assets | 22/27 | €262,659 | €256,650 | -€6,008 | -2.3% |
| Land and buildings | 22 | €262,594 | €256,650 | -€5,943 | -2.3% |
| Furniture and vehicles | 24 | €65 | €0 | -€65 | -100.0% |
| Financial fixed assets | 28 | €5,060 | €2,530 | -€2,530 | -50.0% |
| Current assets | 29/58 | €130,146 | €86,898 | -€43,249 | -33.2% |
| Amounts receivable after more than one year | 29 | €15,000 | €15,000 | = | 0.0% |
| Other amounts receivable | 291 | €15,000 | €15,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €795 | €795 | = | 0.0% |
| Stocks | 30/36 | €795 | €795 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €109,959 | €65,974 | -€43,985 | -40.0% |
| Trade receivables | 40 | €67,117 | €18,229 | -€48,888 | -72.8% |
| Other amounts receivable | 41 | €42,842 | €47,746 | +€4,904 | +11.4% |
| Cash at bank and in hand | 54/58 | - | €308 | +€308 | |
| Deferred charges and accrued income | 490/1 | €4,393 | €4,821 | +€428 | +9.8% |
| Total equity and liabilities | 10/49 | €397,865 | €346,078 | -€51,787 | -13.0% |
| Equity | 10/15 | €19,242 | €6,355 | -€12,887 | -67.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €33,891 | €0 | -€33,891 | -100.0% |
| Distributable reserves | 133 | €33,891 | €0 | -€33,891 | -100.0% |
| Profit (loss) carried forward | 14 | -€33,249 | -€12,245 | +€21,004 | +63.2% |
| Amounts payable | 17/49 | €378,623 | €339,723 | -€38,900 | -10.3% |
| Amounts payable after more than one year | 17 | €245,619 | €257,813 | +€12,194 | +5.0% |
| Financial debts | 170/4 | €245,619 | €257,813 | +€12,194 | +5.0% |
| Amounts payable within one year | 42/48 | €131,504 | €80,410 | -€51,094 | -38.9% |
| Current portion of amounts payable after more than one year | 42 | €12,107 | €17,855 | +€5,748 | +47.5% |
| Financial debts | 43 | €31,939 | €27,472 | -€4,466 | -14.0% |
| Credit institutions | 430/8 | €31,939 | €27,472 | -€4,466 | -14.0% |
| Trade debts | 44 | €80,907 | €28,663 | -€52,243 | -64.6% |
| Suppliers | 440/4 | €80,907 | €28,663 | -€52,243 | -64.6% |
| Taxes, remuneration and social security | 45 | €6,552 | €6,419 | -€133 | -2.0% |
| Taxes | 450/3 | €6,552 | €6,419 | -€133 | -2.0% |
| Accrued charges and deferred income | 492/3 | €1,500 | €1,500 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,096 | €6,008 | -€88 | -1.4% |
| Other operating charges | 640/8 | €4,183 | €2,045 | -€2,138 | -51.1% |
| Gross operating margin | 9900 | €43,770 | €5,160 | -€38,610 | -88.2% |
| Operating profit (loss) | 9901 | €33,491 | -€2,894 | -€36,384 | |
| Financial income | 75/76B | €1,938 | €2,310 | +€372 | +19.2% |
| Recurring financial income | 75 | €1,938 | €2,310 | +€372 | +19.2% |
| Financial charges | 65/66B | €13,557 | €12,070 | -€1,487 | -11.0% |
| Recurring financial charges | 65 | €13,557 | €12,070 | -€1,487 | -11.0% |
| Profit (loss) for the period before taxes | 9903 | €21,872 | -€12,653 | -€34,526 | |
| Income taxes | 67/77 | €224 | €234 | +€10 | +4.3% |
| Profit (loss) for the period | 9904 | €21,648 | -€12,887 | -€34,535 | |
| Profit (loss) for the period to be appropriated | 9905 | €21,648 | -€12,887 | -€34,535 |
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 3 October 2026 via checked.be.