Bert Viaene: 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.
Bert Viaene
Largest movements
- Current investments +€149,487
up €149,487 (+66.4%), from €225,106 to €374,592
- Receivables within one year +€11,877
up €11,877 (+14.1%), from €84,201 to €96,079
of which Trade receivables: +€22,457
- Other debts +€91,344
up €91,344 (+216.7%), from €42,160 to €133,504
- Reserves +€55,753
up €55,753 (+14.5%), from €383,890 to €439,643
of which Distributable reserves: +€55,753
- Tax, wage and social debts +€18,932
up €18,932 (+95.7%), from €19,787 to €38,720
- Gross operating margin +€104,839
up €104,839 (+63.9%), from €164,087 to €268,927
- Taxes +€29,434
up €29,434 (+58.0%), from €50,752 to €80,187
- Depreciation +€5,695
up €5,695 (+264.4%), from €2,154 to €7,849
- Financial income -€2,893
down €2,893 (-39.9%), from €7,253 to €4,359
of which Non-recurring financial income: -€1,742
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 | €465,428 | €630,467 | +€165,038 | +35.5% |
| Fixed assets | 21/28 | €10,758 | €13,284 | +€2,526 | +23.5% |
| Tangible fixed assets | 22/27 | €10,758 | €13,284 | +€2,526 | +23.5% |
| Furniture and vehicles | 24 | €3,221 | €6,451 | +€3,230 | +100.3% |
| Other tangible fixed assets | 26 | €7,537 | €6,832 | -€704 | -9.3% |
| Current assets | 29/58 | €454,670 | €617,183 | +€162,513 | +35.7% |
| Amounts receivable within one year | 40/41 | €84,201 | €96,079 | +€11,877 | +14.1% |
| Trade receivables | 40 | €73,622 | €96,079 | +€22,457 | +30.5% |
| Other amounts receivable | 41 | €10,579 | €0 | -€10,579 | -100.0% |
| Current investments | 50/53 | €225,106 | €374,592 | +€149,487 | +66.4% |
| Cash at bank and in hand | 54/58 | €142,926 | €145,296 | +€2,371 | +1.7% |
| Deferred charges and accrued income | 490/1 | €2,438 | €1,216 | -€1,222 | -50.1% |
| Total equity and liabilities | 10/49 | €465,428 | €630,467 | +€165,038 | +35.5% |
| Equity | 10/15 | €402,490 | €458,243 | +€55,753 | +13.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €383,890 | €439,643 | +€55,753 | +14.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €382,030 | €437,783 | +€55,753 | +14.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €62,938 | €172,223 | +€109,286 | +173.6% |
| Amounts payable within one year | 42/48 | €62,938 | €172,223 | +€109,286 | +173.6% |
| Trade debts | 44 | €991 | €0 | -€991 | -100.0% |
| Suppliers | 440/4 | €991 | €0 | -€991 | -100.0% |
| Taxes, remuneration and social security | 45 | €19,787 | €38,720 | +€18,932 | +95.7% |
| Taxes | 450/3 | €19,787 | €38,720 | +€18,932 | +95.7% |
| Other amounts payable | 47/48 | €42,160 | €133,504 | +€91,344 | +216.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,154 | €7,849 | +€5,695 | +264.4% |
| Other operating charges | 640/8 | €892 | €982 | +€90 | +10.1% |
| Gross operating margin | 9900 | €164,087 | €268,927 | +€104,839 | +63.9% |
| Operating profit (loss) | 9901 | €161,041 | €260,096 | +€99,055 | +61.5% |
| Financial income | 75/76B | €7,253 | €4,359 | -€2,893 | -39.9% |
| Recurring financial income | 75 | €5,510 | €4,359 | -€1,151 | -20.9% |
| Non-recurring financial income | 76B | €1,742 | €0 | -€1,742 | -100.0% |
| Financial charges | 65/66B | €196 | €613 | +€416 | +212.4% |
| Recurring financial charges | 65 | €196 | €613 | +€416 | +212.4% |
| Profit (loss) for the period before taxes | 9903 | €168,098 | €263,843 | +€95,745 | +57.0% |
| Income taxes | 67/77 | €50,752 | €80,187 | +€29,434 | +58.0% |
| Profit (loss) for the period | 9904 | €117,346 | €183,656 | +€66,310 | +56.5% |
| Profit (loss) for the period to be appropriated | 9905 | €117,346 | €183,656 | +€66,310 | +56.5% |
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 11 October 2026 via checked.be.