De Vlieger T: what changed
De Vlieger T
Largest movements
- Tangible fixed assets -€26,490
down €26,490 (-4.4%), from €601,814 to €575,325
of which Furniture and vehicles: -€19,551
- Deferred charges and accrued income -€23,121
down €23,121 (-63.3%), from €36,500 to €13,379
- Cash -€16,367
down €16,367 (-31.7%), from €51,676 to €35,309
mainly Other debts (-€73,513) and Debts after one year (-€54,013)
- Receivables within one year -€14,845
down €14,845 (-30.9%), from €48,107 to €33,262
of which Other amounts receivable: -€11,566
- Other debts -€73,513
down €73,513 (-24.6%), from €298,595 to €225,082
- Debts after one year -€54,013
down €54,013 (-29.0%), from €185,981 to €131,968
- Trade debts +€21,877
up €21,877 (+26.2%), from €83,605 to €105,481
- Tax, wage and social debts +€18,523
up €18,523 (+47.8%), from €38,777 to €57,301
of which Taxes: +€17,922
- Reserves +€14,177
up €14,177 (+17.3%), from €82,043 to €96,220
of which Distributable reserves: +€14,177
- Staff costs +€62,461
up €62,461 (+31.1%), from €200,870 to €263,331
- Gross operating margin +€40,619
up €40,619 (+14.0%), from €290,670 to €331,289
- Depreciation +€9,051
up €9,051 (+51.9%), from €17,439 to €26,490
- Taxes +€5,024
up €5,024 (+142%), from €3,540 to €8,564
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 | €768,303 | €689,304 | -€79,000 | -10.3% |
| Fixed assets | 21/28 | €601,814 | €575,325 | -€26,490 | -4.4% |
| Tangible fixed assets | 22/27 | €601,814 | €575,325 | -€26,490 | -4.4% |
| Land and buildings | 22 | €512,507 | €506,662 | -€5,844 | -1.1% |
| Plant, machinery and equipment | 23 | €9,522 | €8,427 | -€1,095 | -11.5% |
| Furniture and vehicles | 24 | €79,786 | €60,235 | -€19,551 | -24.5% |
| Current assets | 29/58 | €166,489 | €113,979 | -€52,510 | -31.5% |
| Stocks and contracts in progress | 3 | €30,206 | €32,029 | +€1,823 | +6.0% |
| Stocks | 30/36 | €30,206 | €32,029 | +€1,823 | +6.0% |
| Amounts receivable within one year | 40/41 | €48,107 | €33,262 | -€14,845 | -30.9% |
| Trade receivables | 40 | €19,598 | €16,319 | -€3,279 | -16.7% |
| Other amounts receivable | 41 | €28,509 | €16,943 | -€11,566 | -40.6% |
| Cash at bank and in hand | 54/58 | €51,676 | €35,309 | -€16,367 | -31.7% |
| Deferred charges and accrued income | 490/1 | €36,500 | €13,379 | -€23,121 | -63.3% |
| Total equity and liabilities | 10/49 | €768,303 | €689,304 | -€79,000 | -10.3% |
| Equity | 10/15 | €88,243 | €102,420 | +€14,177 | +16.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €82,043 | €96,220 | +€14,177 | +17.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €80,183 | €94,360 | +€14,177 | +17.7% |
| Amounts payable | 17/49 | €680,060 | €586,884 | -€93,177 | -13.7% |
| Amounts payable after more than one year | 17 | €185,981 | €131,968 | -€54,013 | -29.0% |
| Financial debts | 170/4 | €185,981 | €131,968 | -€54,013 | -29.0% |
| Amounts payable within one year | 42/48 | €478,899 | €441,877 | -€37,021 | -7.7% |
| Current portion of amounts payable after more than one year | 42 | €57,922 | €54,013 | -€3,909 | -6.7% |
| Trade debts | 44 | €83,605 | €105,481 | +€21,877 | +26.2% |
| Suppliers | 440/4 | €83,605 | €105,481 | +€21,877 | +26.2% |
| Taxes, remuneration and social security | 45 | €38,777 | €57,301 | +€18,523 | +47.8% |
| Taxes | 450/3 | €13,863 | €31,785 | +€17,922 | +129% |
| Remuneration and social security | 454/9 | €24,914 | €25,516 | +€601 | +2.4% |
| Other amounts payable | 47/48 | €298,595 | €225,082 | -€73,513 | -24.6% |
| Accrued charges and deferred income | 492/3 | €15,180 | €13,038 | -€2,142 | -14.1% |
| Non-recurring operating income | 76A | €5,500 | €0 | -€5,500 | -100% |
| Remuneration, social security and pensions | 62 | €200,870 | €263,331 | +€62,461 | +31.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,439 | €26,490 | +€9,051 | +51.9% |
| Other operating charges | 640/8 | €6,974 | €7,362 | +€388 | +5.6% |
| Gross operating margin | 9900 | €290,670 | €331,289 | +€40,619 | +14.0% |
| Operating profit (loss) | 9901 | €65,387 | €34,106 | -€31,281 | -47.8% |
| Financial income | 75/76B | €802 | €1,197 | +€395 | +49.2% |
| Recurring financial income | 75 | €802 | €1,197 | +€395 | +49.2% |
| Financial charges | 65/66B | €13,230 | €12,563 | -€667 | -5.0% |
| Recurring financial charges | 65 | €13,230 | €12,563 | -€667 | -5.0% |
| Profit (loss) for the period before taxes | 9903 | €52,960 | €22,740 | -€30,219 | -57.1% |
| Income taxes | 67/77 | €3,540 | €8,564 | +€5,024 | +142% |
| Profit (loss) for the period | 9904 | €49,420 | €14,177 | -€35,243 | -71.3% |
| Profit (loss) for the period to be appropriated | 9905 | €49,420 | €14,177 | -€35,243 | -71.3% |
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 2 November 2026 via checked.be.