David Vanbiervliet: 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.
What changed
David Vanbiervliet
NACE 66.191, Agents and brokers in banking services
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€281,289
2024 · €421,420-€140,131
Equity
€692,152
2024 · €495,863+€196,289
Cash
€279,493
2024 · €280,563-€1,070
Balance sheet total
€1.8m
2024 · €1.6m+€246,376
Largest movements
Assets
- Tangible fixed assets +€314,795
up €314,795 (+112%), from €280,078 to €594,874
of which Land and buildings: +€265,310
- Intangible fixed assets -€90,947
down €90,947 (-10.4%), from €873,193 to €782,246
Equity and liabilities
- Profit (loss) carried forward +€216,325
up €216,325 (+111%), from €194,280 to €410,604
- Tax, wage and social debts +€59,072
up €59,072 (+61.3%), from €96,442 to €155,514
of which Taxes: +€48,584
- Debts after one year -€35,707
down €35,707 (-4.7%), from €755,468 to €719,761
- Other debts +€31,268
up €31,268 (+72.6%), from €43,041 to €74,309
- Current portion of long-term debt +€20,616
up €20,616 (+19.6%), from €105,446 to €126,062
Income statement
- Gross operating margin -€209,988
down €209,988 (-21.7%), from €968,130 to €758,142
- Staff costs -€93,701
down €93,701 (-30.0%), from €312,407 to €218,706
- Depreciation +€61,598
up €61,598 (+79.7%), from €77,316 to €138,913
- Taxes +€17,332
up €17,332 (+21.3%), from €81,361 to €98,693
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.
Result 2024
€421,420
Gross operating margin
-€209,988
Staff costs
+€93,701
Depreciation
-€61,598
Other operating charges
-€1,315
Financial income
-€8,780
Financial charges
-€1,605
Taxes
-€17,332
Deferred taxes and other
+€66,786
Result 2025
€281,289
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€461,782
Investment
-€362,762
Financing
-€100,091
Cash 2024
€280,563
From operations (derived)
+€461,782
Net result for the year
+€281,289
Depreciation
+€138,913
Receivables within one year
-€15,432
Deferred charges and accrued income
-€8,167
Provisions
-€6,679
Trade debts
-€18,483
Tax, wage and social debts
+€59,072
Other debts
+€31,268
Investment (derived)
-€362,762
Investment in fixed assets (net)
-€362,762
Financing
-€100,091
Debts after one year
-€35,707
Current portion of long-term debt
+€20,616
Contributions, distributions and other
-€85,000
Cash 2025
€279,493
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,583,236 | €1,829,612 | +€246,376 | +15.6% |
| Fixed assets | 21/28 | €1,153,271 | €1,377,119 | +€223,848 | +19.4% |
| Intangible fixed assets | 21 | €873,193 | €782,246 | -€90,947 | -10.4% |
| Tangible fixed assets | 22/27 | €280,078 | €594,874 | +€314,795 | +112% |
| Land and buildings | 22 | €9,648 | €274,958 | +€265,310 | +2,750% |
| Plant, machinery and equipment | 23 | €258,666 | €225,406 | -€33,260 | -12.9% |
| Furniture and vehicles | 24 | €11,765 | €94,510 | +€82,745 | +703% |
| Current assets | 29/58 | €429,965 | €452,493 | +€22,528 | +5.2% |
| Amounts receivable within one year | 40/41 | €79,158 | €94,590 | +€15,432 | +19.5% |
| Trade receivables | 40 | €3,979 | €9,590 | +€5,611 | +141% |
| Other amounts receivable | 41 | €75,179 | €85,000 | +€9,821 | +13.1% |
| Cash at bank and in hand | 54/58 | €280,563 | €279,493 | -€1,070 | -0.4% |
| Deferred charges and accrued income | 490/1 | €70,243 | €78,410 | +€8,167 | +11.6% |
| Total equity and liabilities | 10/49 | €1,583,236 | €1,829,612 | +€246,376 | +15.6% |
| Equity | 10/15 | €495,863 | €692,152 | +€196,289 | +39.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €282,984 | €262,948 | -€20,036 | -7.1% |
| Tax-exempt reserves | 132 | €180,321 | €160,286 | -€20,036 | -11.1% |
| Distributable reserves | 133 | €102,662 | €102,662 | = | 0.0% |
| Profit (loss) carried forward | 14 | €194,280 | €410,604 | +€216,325 | +111% |
| Provisions and deferred taxes | 16 | €60,107 | €53,429 | -€6,679 | -11.1% |
| Deferred taxes | 168 | €60,107 | €53,429 | -€6,679 | -11.1% |
| Amounts payable | 17/49 | €1,027,265 | €1,084,031 | +€56,766 | +5.5% |
| Amounts payable after more than one year | 17 | €755,468 | €719,761 | -€35,707 | -4.7% |
| Financial debts | 170/4 | €755,468 | €719,761 | -€35,707 | -4.7% |
| Amounts payable within one year | 42/48 | €271,797 | €364,270 | +€92,473 | +34.0% |
| Current portion of amounts payable after more than one year | 42 | €105,446 | €126,062 | +€20,616 | +19.6% |
| Trade debts | 44 | €26,868 | €8,384 | -€18,483 | -68.8% |
| Suppliers | 440/4 | €26,868 | €8,384 | -€18,483 | -68.8% |
| Taxes, remuneration and social security | 45 | €96,442 | €155,514 | +€59,072 | +61.3% |
| Taxes | 450/3 | €88,861 | €137,445 | +€48,584 | +54.7% |
| Remuneration and social security | 454/9 | €7,581 | €18,070 | +€10,489 | +138% |
| Other amounts payable | 47/48 | €43,041 | €74,309 | +€31,268 | +72.6% |
| Remuneration, social security and pensions | 62 | €312,407 | €218,706 | -€93,701 | -30.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €77,316 | €138,913 | +€61,598 | +79.7% |
| Other operating charges | 640/8 | €2,667 | €3,983 | +€1,315 | +49.3% |
| Gross operating margin | 9900 | €968,130 | €758,142 | -€209,988 | -21.7% |
| Operating profit (loss) | 9901 | €575,740 | €396,540 | -€179,200 | -31.1% |
| Financial income | 75/76B | €8,780 | €0 | -€8,780 | -100.0% |
| Recurring financial income | 75 | €8,780 | €0 | -€8,780 | -100.0% |
| Financial charges | 65/66B | €21,631 | €23,237 | +€1,605 | +7.4% |
| Recurring financial charges | 65 | €21,631 | €23,237 | +€1,605 | +7.4% |
| Profit (loss) for the period before taxes | 9903 | €562,888 | €373,303 | -€189,585 | -33.7% |
| Transfer from deferred taxes | 780 | €6,679 | €6,679 | = | 0.0% |
| Transfer to deferred taxes | 680 | €66,786 | - | -€66,786 | |
| Income taxes | 67/77 | €81,361 | €98,693 | +€17,332 | +21.3% |
| Profit (loss) for the period | 9904 | €421,420 | €281,289 | -€140,131 | -33.3% |
| Transfer from tax-exempt reserves | 789 | €20,036 | €20,036 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | €200,357 | - | -€200,357 | |
| Profit (loss) for the period to be appropriated | 9905 | €241,099 | €301,325 | +€60,226 | +25.0% |
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 24 October 2026 via checked.be.