DE VLOTTEN: 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 VLOTTEN
Largest movements
- Stocks and contracts +€193,795
up €193,795 (+13.4%), from €1.4m to €1.6m
- Cash +€186,085
up €186,085 (+74.6%), from €249,317 to €435,402
mainly Short-term financial debts (+€1.2m) and Depreciation (+€161,216)
- Current investments +€103,378
new in 2025: €103,378
- Receivables within one year +€94,400
up €94,400 (+24.3%), from €388,865 to €483,265
of which Other amounts receivable: +€202,915
- Tangible fixed assets -€70,046
down €70,046 (-6.5%), from €1.1m to €1.0m
of which Land and buildings: -€65,567
- Short-term financial debts +€1.2m
new in 2025: €1.2m
- Current portion of long-term debt -€656,518
down €656,518 (-85.2%), from €770,112 to €113,594
- Trade debts +€67,095
up €67,095 (+100.3%), from €66,916 to €134,011
- Debts after one year -€65,637
down €65,637 (-25.9%), from €253,208 to €187,571
- Gross operating margin -€96,197
down €96,197 (-18.1%), from €530,887 to €434,689
- Financial charges -€58,556
down €58,556 (-73.9%), from €79,206 to €20,650
- Taxes -€14,315
down €14,315 (-79.7%), from €17,958 to €3,643
- Depreciation +€13,015
up €13,015 (+8.8%), from €148,201 to €161,216
- Staff costs -€7,509
down €7,509 (-3.4%), from €220,374 to €212,864
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 | €3,177,944 | €3,683,334 | +€505,390 | +15.9% |
| Fixed assets | 21/28 | €1,084,519 | €1,014,473 | -€70,046 | -6.5% |
| Tangible fixed assets | 22/27 | €1,084,277 | €1,014,232 | -€70,046 | -6.5% |
| Land and buildings | 22 | €821,992 | €756,425 | -€65,567 | -8.0% |
| Plant, machinery and equipment | 23 | €73,667 | €65,214 | -€8,452 | -11.5% |
| Furniture and vehicles | 24 | €186,493 | €191,348 | +€4,854 | +2.6% |
| Other tangible fixed assets | 26 | €2,125 | €1,244 | -€881 | -41.4% |
| Financial fixed assets | 28 | €241 | €241 | = | 0.0% |
| Current assets | 29/58 | €2,093,425 | €2,668,861 | +€575,436 | +27.5% |
| Stocks and contracts in progress | 3 | €1,444,364 | €1,638,159 | +€193,795 | +13.4% |
| Stocks | 30/36 | €1,444,364 | €1,638,159 | +€193,795 | +13.4% |
| Amounts receivable within one year | 40/41 | €388,865 | €483,265 | +€94,400 | +24.3% |
| Trade receivables | 40 | €278,416 | €169,901 | -€108,514 | -39.0% |
| Other amounts receivable | 41 | €110,449 | €313,364 | +€202,915 | +183.7% |
| Current investments | 50/53 | - | €103,378 | +€103,378 | |
| Cash at bank and in hand | 54/58 | €249,317 | €435,402 | +€186,085 | +74.6% |
| Deferred charges and accrued income | 490/1 | €10,879 | €8,657 | -€2,223 | -20.4% |
| Total equity and liabilities | 10/49 | €3,177,944 | €3,683,334 | +€505,390 | +15.9% |
| Equity | 10/15 | €2,047,712 | €2,049,082 | +€1,371 | +0.1% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €91,938 | €91,938 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €56,250 | €56,250 | = | 0.0% |
| Distributable reserves | 133 | €29,488 | €29,488 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,893,773 | €1,895,144 | +€1,371 | +0.1% |
| Amounts payable | 17/49 | €1,130,233 | €1,634,251 | +€504,019 | +44.6% |
| Amounts payable after more than one year | 17 | €253,208 | €187,571 | -€65,637 | -25.9% |
| Financial debts | 170/4 | €253,208 | €187,571 | -€65,637 | -25.9% |
| Amounts payable within one year | 42/48 | €875,152 | €1,446,681 | +€571,528 | +65.3% |
| Current portion of amounts payable after more than one year | 42 | €770,112 | €113,594 | -€656,518 | -85.2% |
| Financial debts | 43 | - | €1,178,671 | +€1.2m | |
| Credit institutions | 430/8 | - | €1,178,671 | +€1.2m | |
| Trade debts | 44 | €66,916 | €134,011 | +€67,095 | +100.3% |
| Suppliers | 440/4 | €66,916 | €134,011 | +€67,095 | +100.3% |
| Taxes, remuneration and social security | 45 | €38,125 | €20,404 | -€17,721 | -46.5% |
| Taxes | 450/3 | €16,919 | €0 | -€16,919 | -100.0% |
| Remuneration and social security | 454/9 | €21,205 | €20,404 | -€802 | -3.8% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €1,872 | €0 | -€1,872 | -100.0% |
| Remuneration, social security and pensions | 62 | €220,374 | €212,864 | -€7,509 | -3.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €148,201 | €161,216 | +€13,015 | +8.8% |
| Other operating charges | 640/8 | €45,551 | €43,699 | -€1,852 | -4.1% |
| Gross operating margin | 9900 | €530,887 | €434,689 | -€96,197 | -18.1% |
| Operating profit (loss) | 9901 | €116,760 | €16,909 | -€99,851 | -85.5% |
| Financial income | 75/76B | €11,483 | €8,755 | -€2,728 | -23.8% |
| Recurring financial income | 75 | €11,483 | €8,755 | -€2,728 | -23.8% |
| Financial charges | 65/66B | €79,206 | €20,650 | -€58,556 | -73.9% |
| Recurring financial charges | 65 | €79,206 | €20,650 | -€58,556 | -73.9% |
| Profit (loss) for the period before taxes | 9903 | €49,037 | €5,014 | -€44,023 | -89.8% |
| Income taxes | 67/77 | €17,958 | €3,643 | -€14,315 | -79.7% |
| Profit (loss) for the period | 9904 | €31,078 | €1,371 | -€29,708 | -95.6% |
| Profit (loss) for the period to be appropriated | 9905 | €31,078 | €1,371 | -€29,708 | -95.6% |
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 12 October 2026 via checked.be.