DE VLEESHOEK: 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.
DE VLEESHOEK
Largest movements
- Cash +€28,208
up €28,208 (+39.2%), from €71,890 to €100,098
mainly Depreciation (+€45,211) and Net result for the year (+€36,295)
- Tangible fixed assets -€8,904
down €8,904 (-2.6%), from €337,912 to €329,007
of which Land and buildings: -€10,214
- Receivables within one year -€6,690
down €6,690 (-13.5%), from €49,506 to €42,816
of which Other amounts receivable: -€4,829
- Reserves +€36,295
up €36,295 (+85.0%), from €42,691 to €78,987
of which Distributable reserves: +€36,295
- Debts after one year -€22,994
down €22,994 (-17.1%), from €134,779 to €111,785
- Trade debts -€20,465
down €20,465 (-12.7%), from €161,243 to €140,778
- Accrued charges and deferred income +€12,627
new in 2025: €12,627
- Tax, wage and social debts +€5,921
up €5,921 (+11.3%), from €52,204 to €58,125
of which Remuneration and social security: +€2,976
- Staff costs +€9,293
up €9,293 (+9.7%), from €95,324 to €104,616
- Gross operating margin +€6,764
up €6,764 (+3.1%), from €218,502 to €225,267
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 | €500,856 | €513,234 | +€12,378 | +2.5% |
| Fixed assets | 21/28 | €339,072 | €330,167 | -€8,904 | -2.6% |
| Tangible fixed assets | 22/27 | €337,912 | €329,007 | -€8,904 | -2.6% |
| Land and buildings | 22 | €199,179 | €188,965 | -€10,214 | -5.1% |
| Plant, machinery and equipment | 23 | €132,760 | €135,547 | +€2,787 | +2.1% |
| Furniture and vehicles | 24 | €5,973 | €4,496 | -€1,477 | -24.7% |
| Financial fixed assets | 28 | €1,160 | €1,160 | = | 0.0% |
| Current assets | 29/58 | €161,784 | €183,066 | +€21,282 | +13.2% |
| Stocks and contracts in progress | 3 | €40,388 | €40,152 | -€236 | -0.6% |
| Stocks | 30/36 | €40,388 | €40,152 | -€236 | -0.6% |
| Amounts receivable within one year | 40/41 | €49,506 | €42,816 | -€6,690 | -13.5% |
| Trade receivables | 40 | €35,499 | €33,638 | -€1,861 | -5.2% |
| Other amounts receivable | 41 | €14,007 | €9,178 | -€4,829 | -34.5% |
| Cash at bank and in hand | 54/58 | €71,890 | €100,098 | +€28,208 | +39.2% |
| Total equity and liabilities | 10/49 | €500,856 | €513,234 | +€12,378 | +2.5% |
| Equity | 10/15 | €80,630 | €116,925 | +€36,295 | +45.0% |
| Reserves | 13 | €42,691 | €78,987 | +€36,295 | +85.0% |
| Non-distributable reserves | 130/1 | €25,000 | €25,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €25,000 | €25,000 | = | 0.0% |
| Distributable reserves | 133 | €17,691 | €53,987 | +€36,295 | +205% |
| Profit (loss) carried forward | 14 | €37,939 | €37,939 | -€0 | 0.0% |
| Amounts payable | 17/49 | €420,226 | €396,308 | -€23,918 | -5.7% |
| Amounts payable after more than one year | 17 | €134,779 | €111,785 | -€22,994 | -17.1% |
| Financial debts | 170/4 | €134,779 | €111,785 | -€22,994 | -17.1% |
| Amounts payable within one year | 42/48 | €285,447 | €271,897 | -€13,550 | -4.7% |
| Current portion of amounts payable after more than one year | 42 | €21,999 | €22,994 | +€995 | +4.5% |
| Financial debts | 43 | €50,000 | €50,000 | = | 0.0% |
| Credit institutions | 430/8 | €50,000 | €50,000 | = | 0.0% |
| Trade debts | 44 | €161,243 | €140,778 | -€20,465 | -12.7% |
| Suppliers | 440/4 | €161,243 | €140,778 | -€20,465 | -12.7% |
| Taxes, remuneration and social security | 45 | €52,204 | €58,125 | +€5,921 | +11.3% |
| Taxes | 450/3 | €19,752 | €22,697 | +€2,944 | +14.9% |
| Remuneration and social security | 454/9 | €32,452 | €35,428 | +€2,976 | +9.2% |
| Accrued charges and deferred income | 492/3 | - | €12,627 | +€12,627 | |
| Non-recurring operating income | 76A | - | €343 | +€343 | |
| Remuneration, social security and pensions | 62 | €95,324 | €104,616 | +€9,293 | +9.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,112 | €45,211 | +€98 | +0.2% |
| Other operating charges | 640/8 | €2,330 | €2,976 | +€646 | +27.7% |
| Gross operating margin | 9900 | €218,502 | €225,267 | +€6,764 | +3.1% |
| Operating profit (loss) | 9901 | €75,736 | €72,464 | -€3,272 | -4.3% |
| Financial income | 75/76B | €34 | €24 | -€10 | -29.9% |
| Recurring financial income | 75 | €34 | €24 | -€10 | -29.9% |
| Financial charges | 65/66B | €21,517 | €21,301 | -€216 | -1.0% |
| Recurring financial charges | 65 | €21,517 | €21,301 | -€216 | -1.0% |
| Profit (loss) for the period before taxes | 9903 | €54,253 | €51,186 | -€3,067 | -5.7% |
| Income taxes | 67/77 | €15,734 | €14,891 | -€843 | -5.4% |
| Profit (loss) for the period | 9904 | €38,519 | €36,295 | -€2,224 | -5.8% |
| Profit (loss) for the period to be appropriated | 9905 | €38,519 | €36,295 | -€2,224 | -5.8% |
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 31 October 2026 via checked.be.