DE VLAANDERAAR: 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.
DE VLAANDERAAR
Largest movements
- Cash -€34,398
down €34,398 (-35.2%), from €97,780 to €63,382
mainly Investment in fixed assets (net) (-€26,392) and Receivables within one year (-€26,189)
- Receivables within one year +€26,189
up €26,189 (+65.8%), from €39,776 to €65,965
of which Other amounts receivable: +€31,197
- Tangible fixed assets +€19,582
up €19,582 (+157.2%), from €12,455 to €32,037
of which Land and buildings: +€12,348
- Stocks and contracts +€5,154
up €5,154 (+16.4%), from €31,486 to €36,640
- Trade debts +€15,859
up €15,859 (+34.5%), from €45,906 to €61,765
- Profit (loss) carried forward +€14,938
up €14,938 (+68.8%), from -€21,696 to -€6,759
- Debts after one year -€9,728
down €9,728 (-25.9%), from €37,607 to €27,879
- Tax, wage and social debts -€4,515
down €4,515 (-13.1%), from €34,568 to €30,053
of which Taxes: -€5,741
- Gross operating margin -€47,829
down €47,829 (-39.5%), from €121,043 to €73,214
- Staff costs -€42,054
down €42,054 (-53.8%), from €78,167 to €36,113
- Depreciation -€15,444
down €15,444 (-69.4%), from €22,254 to €6,810
- Taxes +€6,454
new in 2025: €6,454
- Other operating charges -€2,800
down €2,800 (-39.3%), from €7,120 to €4,320
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 | €189,965 | €206,892 | +€16,927 | +8.9% |
| Fixed assets | 21/28 | €12,455 | €32,037 | +€19,582 | +157.2% |
| Tangible fixed assets | 22/27 | €12,455 | €32,037 | +€19,582 | +157.2% |
| Land and buildings | 22 | €1,928 | €14,276 | +€12,348 | +640.4% |
| Plant, machinery and equipment | 23 | €9,115 | €11,657 | +€2,542 | +27.9% |
| Furniture and vehicles | 24 | €1,412 | €6,104 | +€4,692 | +332.4% |
| Current assets | 29/58 | €177,510 | €174,855 | -€2,656 | -1.5% |
| Stocks and contracts in progress | 3 | €31,486 | €36,640 | +€5,154 | +16.4% |
| Stocks | 30/36 | €31,486 | €36,640 | +€5,154 | +16.4% |
| Amounts receivable within one year | 40/41 | €39,776 | €65,965 | +€26,189 | +65.8% |
| Trade receivables | 40 | €30,659 | €25,651 | -€5,008 | -16.3% |
| Other amounts receivable | 41 | €9,117 | €40,314 | +€31,197 | +342.2% |
| Cash at bank and in hand | 54/58 | €97,780 | €63,382 | -€34,398 | -35.2% |
| Deferred charges and accrued income | 490/1 | €8,468 | €8,867 | +€399 | +4.7% |
| Total equity and liabilities | 10/49 | €189,965 | €206,892 | +€16,927 | +8.9% |
| Equity | 10/15 | €62,529 | €77,467 | +€14,938 | +23.9% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €59,226 | €59,226 | = | 0.0% |
| Tax-exempt reserves | 132 | €4,850 | €4,850 | = | 0.0% |
| Distributable reserves | 133 | €54,376 | €54,376 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€21,696 | -€6,759 | +€14,938 | +68.8% |
| Amounts payable | 17/49 | €127,436 | €129,425 | +€1,989 | +1.6% |
| Amounts payable after more than one year | 17 | €37,607 | €27,879 | -€9,728 | -25.9% |
| Financial debts | 170/4 | €37,607 | €27,879 | -€9,728 | -25.9% |
| Amounts payable within one year | 42/48 | €89,829 | €101,546 | +€11,717 | +13.0% |
| Current portion of amounts payable after more than one year | 42 | €9,355 | €9,728 | +€373 | +4.0% |
| Trade debts | 44 | €45,906 | €61,765 | +€15,859 | +34.5% |
| Suppliers | 440/4 | €45,906 | €61,765 | +€15,859 | +34.5% |
| Taxes, remuneration and social security | 45 | €34,568 | €30,053 | -€4,515 | -13.1% |
| Taxes | 450/3 | €29,808 | €24,067 | -€5,741 | -19.3% |
| Remuneration and social security | 454/9 | €4,760 | €5,985 | +€1,225 | +25.7% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €78,167 | €36,113 | -€42,054 | -53.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,254 | €6,810 | -€15,444 | -69.4% |
| Other operating charges | 640/8 | €7,120 | €4,320 | -€2,800 | -39.3% |
| Gross operating margin | 9900 | €121,043 | €73,214 | -€47,829 | -39.5% |
| Operating profit (loss) | 9901 | €13,502 | €25,972 | +€12,469 | +92.4% |
| Financial income | 75/76B | €330 | €353 | +€23 | +6.9% |
| Recurring financial income | 75 | €330 | €353 | +€23 | +6.9% |
| Financial charges | 65/66B | €4,218 | €4,933 | +€715 | +16.9% |
| Recurring financial charges | 65 | €4,218 | €4,933 | +€715 | +16.9% |
| Profit (loss) for the period before taxes | 9903 | €9,614 | €21,391 | +€11,777 | +122.5% |
| Income taxes | 67/77 | - | €6,454 | +€6,454 | |
| Profit (loss) for the period | 9904 | €9,614 | €14,938 | +€5,324 | +55.4% |
| Profit (loss) for the period to be appropriated | 9905 | €9,614 | €14,938 | +€5,324 | +55.4% |
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 4 October 2026 via checked.be.