DAVE VINCK: 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.
DAVE VINCK
Largest movements
- Receivables within one year +€9,150
up €9,150 (+52.1%), from €17,574 to €26,724
of which Trade receivables: +€11,278
- Tangible fixed assets +€8,302
new in 2025: €8,302
- Stocks and contracts -€1,750
down €1,750 (-100%), from €1,750 to €0
- Cash -€839
down €839 (-3.5%), from €23,670 to €22,830
mainly Investment in fixed assets (net) (-€9,884) and Receivables within one year (-€9,150)
- Reserves +€14,640
up €14,640 (+50.4%), from €29,048 to €43,688
- Other debts -€7,737
down €7,737 (-78.8%), from €9,815 to €2,078
- Tax, wage and social debts +€7,451
up €7,451 (+378%), from €1,972 to €9,424
- Gross operating margin +€13,545
up €13,545 (+70.1%), from €19,309 to €32,853
- Taxes +€5,828
up €5,828 (+232%), from €2,509 to €8,337
- Depreciation +€1,293
up €1,293 (+448%), from €289 to €1,581
- Other operating charges +€708
up €708 (+600%), from €118 to €826
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 | €42,993 | €57,857 | +€14,863 | +34.6% |
| Fixed assets | 21/28 | - | €8,302 | +€8,302 | |
| Tangible fixed assets | 22/27 | - | €8,302 | +€8,302 | |
| Furniture and vehicles | 24 | - | €8,302 | +€8,302 | |
| Current assets | 29/58 | €42,993 | €49,554 | +€6,561 | +15.3% |
| Stocks and contracts in progress | 3 | €1,750 | €0 | -€1,750 | -100% |
| Stocks | 30/36 | €1,750 | €0 | -€1,750 | -100% |
| Amounts receivable within one year | 40/41 | €17,574 | €26,724 | +€9,150 | +52.1% |
| Trade receivables | 40 | €12,395 | €23,673 | +€11,278 | +91.0% |
| Other amounts receivable | 41 | €5,179 | €3,051 | -€2,128 | -41.1% |
| Cash at bank and in hand | 54/58 | €23,670 | €22,830 | -€839 | -3.5% |
| Total equity and liabilities | 10/49 | €42,993 | €57,857 | +€14,863 | +34.6% |
| Equity | 10/15 | €29,048 | €43,688 | +€14,640 | +50.4% |
| Reserves | 13 | €29,048 | €43,688 | +€14,640 | +50.4% |
| Distributable reserves | 133 | €29,048 | €43,688 | +€14,640 | +50.4% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €13,946 | €14,169 | +€223 | +1.6% |
| Amounts payable within one year | 42/48 | €13,946 | €14,113 | +€167 | +1.2% |
| Trade debts | 44 | €2,159 | €2,611 | +€452 | +21.0% |
| Suppliers | 440/4 | €2,159 | €2,611 | +€452 | +21.0% |
| Taxes, remuneration and social security | 45 | €1,972 | €9,424 | +€7,451 | +378% |
| Taxes | 450/3 | €1,972 | €9,424 | +€7,451 | +378% |
| Other amounts payable | 47/48 | €9,815 | €2,078 | -€7,737 | -78.8% |
| Accrued charges and deferred income | 492/3 | - | €56 | +€56 | |
| Non-recurring operating income | 76A | - | €4,000 | +€4,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €289 | €1,581 | +€1,293 | +448% |
| Other operating charges | 640/8 | €118 | €826 | +€708 | +600% |
| Gross operating margin | 9900 | €19,309 | €32,853 | +€13,545 | +70.1% |
| Operating profit (loss) | 9901 | €18,902 | €30,445 | +€11,544 | +61.1% |
| Financial income | 75/76B | €0 | €5 | +€5 | +24,900% |
| Recurring financial income | 75 | €0 | €5 | +€5 | +24,900% |
| Financial charges | 65/66B | €1,788 | €1,636 | -€152 | -8.5% |
| Recurring financial charges | 65 | €1,788 | €1,636 | -€152 | -8.5% |
| Profit (loss) for the period before taxes | 9903 | €17,113 | €28,814 | +€11,701 | +68.4% |
| Income taxes | 67/77 | €2,509 | €8,337 | +€5,828 | +232% |
| Profit (loss) for the period | 9904 | €14,604 | €20,477 | +€5,872 | +40.2% |
| Profit (loss) for the period to be appropriated | 9905 | €14,604 | €20,477 | +€5,872 | +40.2% |
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 23 October 2026 via checked.be.