DE GOEIE VANGST: what changed
DE GOEIE VANGST
Largest movements
- Cash +€38,124
up €38,124 (+216%), from €17,668 to €55,793
mainly Current investments (+€36,404) and Net result for the year (+€26,555)
- Current investments -€36,404
down €36,404 (-94.4%), from €38,568 to €2,164
- Stocks and contracts +€25,362
up €25,362 (+25.6%), from €98,913 to €124,276
- Tangible fixed assets -€9,378
down €9,378 (-24.4%), from €38,381 to €29,004
of which Plant, machinery and equipment: -€8,096
- Other debts +€18,435
up €18,435 (+633%), from €2,913 to €21,348
- Reserves +€4,084
up €4,084 (+2.7%), from €149,893 to €153,977
of which Distributable reserves: +€4,084
- Advances received +€3,741
new in 2025: €3,741
- Tax, wage and social debts -€3,208
down €3,208 (-6.0%), from €53,023 to €49,815
of which Taxes: -€2,884
- Gross operating margin -€31,004
down €31,004 (-30.9%), from €100,201 to €69,197
- Taxes -€10,538
down €10,538 (-48.4%), from €21,786 to €11,248
- Financial charges -€4,607
down €4,607 (-54.3%), from €8,488 to €3,881
- Staff costs -€2,265
down €2,265 (-11.6%), from €19,598 to €17,333
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €225,371 | €245,576 | +€20,205 | +9.0% |
| Fixed assets | 21/28 | €38,381 | €30,379 | -€8,002 | -20.8% |
| Intangible fixed assets | 21 | - | €1,375 | +€1,375 | |
| Tangible fixed assets | 22/27 | €38,381 | €29,004 | -€9,378 | -24.4% |
| Land and buildings | 22 | €2,407 | €1,525 | -€882 | -36.6% |
| Plant, machinery and equipment | 23 | €34,151 | €26,055 | -€8,096 | -23.7% |
| Furniture and vehicles | 24 | €1,824 | €1,424 | -€400 | -21.9% |
| Current assets | 29/58 | €186,990 | €215,197 | +€28,207 | +15.1% |
| Stocks and contracts in progress | 3 | €98,913 | €124,276 | +€25,362 | +25.6% |
| Stocks | 30/36 | €98,913 | €124,276 | +€25,362 | +25.6% |
| Amounts receivable within one year | 40/41 | €30,416 | €29,747 | -€669 | -2.2% |
| Trade receivables | 40 | €5,133 | €2,338 | -€2,795 | -54.5% |
| Other amounts receivable | 41 | €25,283 | €27,409 | +€2,126 | +8.4% |
| Current investments | 50/53 | €38,568 | €2,164 | -€36,404 | -94.4% |
| Cash at bank and in hand | 54/58 | €17,668 | €55,793 | +€38,124 | +216% |
| Deferred charges and accrued income | 490/1 | €1,424 | €3,218 | +€1,794 | +126% |
| Total equity and liabilities | 10/49 | €225,371 | €245,576 | +€20,205 | +9.0% |
| Equity | 10/15 | €156,143 | €160,227 | +€4,084 | +2.6% |
| Contributions | 10/11 | €6,250 | €6,250 | = | 0.0% |
| Reserves | 13 | €149,893 | €153,977 | +€4,084 | +2.7% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €148,038 | €152,122 | +€4,084 | +2.8% |
| Amounts payable | 17/49 | €69,228 | €85,349 | +€16,121 | +23.3% |
| Amounts payable within one year | 42/48 | €69,228 | €85,349 | +€16,121 | +23.3% |
| Current portion of amounts payable after more than one year | 42 | €2,114 | - | -€2,114 | |
| Financial debts | 43 | €64 | €185 | +€121 | +190% |
| Credit institutions | 430/8 | €64 | €185 | +€121 | +190% |
| Trade debts | 44 | €11,114 | €10,260 | -€854 | -7.7% |
| Suppliers | 440/4 | €11,114 | €10,260 | -€854 | -7.7% |
| Advances received on contracts in progress | 46 | - | €3,741 | +€3,741 | |
| Taxes, remuneration and social security | 45 | €53,023 | €49,815 | -€3,208 | -6.0% |
| Taxes | 450/3 | €50,256 | €47,371 | -€2,884 | -5.7% |
| Remuneration and social security | 454/9 | €2,767 | €2,444 | -€323 | -11.7% |
| Other amounts payable | 47/48 | €2,913 | €21,348 | +€18,435 | +633% |
| Remuneration, social security and pensions | 62 | €19,598 | €17,333 | -€2,265 | -11.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,154 | €9,502 | +€349 | +3.8% |
| Other operating charges | 640/8 | €1,704 | €1,508 | -€196 | -11.5% |
| Gross operating margin | 9900 | €100,201 | €69,197 | -€31,004 | -30.9% |
| Operating profit (loss) | 9901 | €69,745 | €40,854 | -€28,892 | -41.4% |
| Financial income | 75/76B | €1,819 | €830 | -€988 | -54.3% |
| Recurring financial income | 75 | €1,819 | €830 | -€988 | -54.3% |
| Financial charges | 65/66B | €8,488 | €3,881 | -€4,607 | -54.3% |
| Recurring financial charges | 65 | €8,488 | €3,881 | -€4,607 | -54.3% |
| Profit (loss) for the period before taxes | 9903 | €63,076 | €37,803 | -€25,273 | -40.1% |
| Income taxes | 67/77 | €21,786 | €11,248 | -€10,538 | -48.4% |
| Profit (loss) for the period | 9904 | €41,290 | €26,555 | -€14,735 | -35.7% |
| Profit (loss) for the period to be appropriated | 9905 | €41,290 | €26,555 | -€14,735 | -35.7% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.