DE VOGELAERE TIM: 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 VOGELAERE TIM
Largest movements
- Cash -€133,925
down €133,925 (-39.5%), from €339,295 to €205,370
mainly Contributions, distributions and other (-€206,471) and Investment in fixed assets (net) (-€118,316)
- Receivables within one year +€51,672
up €51,672 (+105%), from €49,308 to €100,980
of which Other amounts receivable: +€51,672
- Financial fixed assets +€35,000
up €35,000 (+292%), from €12,000 to €47,000
- Tangible fixed assets +€27,110
up €27,110 (+2.8%), from €968,174 to €995,284
of which Land and buildings: +€47,129
- Other debts +€136,389
up €136,389 (+339%), from €40,212 to €176,601
- Reserves -€77,665
down €77,665 (-17.2%), from €452,438 to €374,773
of which Distributable reserves: -€76,587
- Debts after one year -€50,916
down €50,916 (-6.7%), from €762,972 to €712,056
- Trade debts -€17,810
down €17,810 (-92.1%), from €19,335 to €1,524
- Gross operating margin -€54,528
down €54,528 (-60.3%), from €90,402 to €35,874
- Depreciation +€25,965
up €25,965 (+85.9%), from €30,241 to €56,206
- Financial income +€9,440
up €9,440 (+5.8%), from €161,600 to €171,041
- Financial charges +€3,408
up €3,408 (+21.5%), from €15,876 to €19,284
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 | €1,372,366 | €1,350,929 | -€21,437 | -1.6% |
| Fixed assets | 21/28 | €980,174 | €1,042,284 | +€62,110 | +6.3% |
| Tangible fixed assets | 22/27 | €968,174 | €995,284 | +€27,110 | +2.8% |
| Land and buildings | 22 | €862,167 | €909,295 | +€47,129 | +5.5% |
| Furniture and vehicles | 24 | €95,174 | €75,155 | -€20,019 | -21.0% |
| Other tangible fixed assets | 26 | €10,833 | €10,833 | = | 0.0% |
| Financial fixed assets | 28 | €12,000 | €47,000 | +€35,000 | +292% |
| Current assets | 29/58 | €392,192 | €308,645 | -€83,547 | -21.3% |
| Amounts receivable within one year | 40/41 | €49,308 | €100,980 | +€51,672 | +105% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €49,308 | €100,980 | +€51,672 | +105% |
| Cash at bank and in hand | 54/58 | €339,295 | €205,370 | -€133,925 | -39.5% |
| Deferred charges and accrued income | 490/1 | €3,590 | €2,296 | -€1,294 | -36.1% |
| Total equity and liabilities | 10/49 | €1,372,366 | €1,350,929 | -€21,437 | -1.6% |
| Equity | 10/15 | €471,038 | €393,373 | -€77,665 | -16.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €452,438 | €374,773 | -€77,665 | -17.2% |
| Tax-exempt reserves | 132 | €32,135 | €31,058 | -€1,077 | -3.4% |
| Distributable reserves | 133 | €420,303 | €343,715 | -€76,587 | -18.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €8,034 | €7,764 | -€269 | -3.4% |
| Deferred taxes | 168 | €8,034 | €7,764 | -€269 | -3.4% |
| Amounts payable | 17/49 | €893,295 | €949,792 | +€56,497 | +6.3% |
| Amounts payable after more than one year | 17 | €762,972 | €712,056 | -€50,916 | -6.7% |
| Financial debts | 170/4 | €762,972 | €712,056 | -€50,916 | -6.7% |
| Amounts payable within one year | 42/48 | €130,323 | €237,735 | +€107,413 | +82.4% |
| Current portion of amounts payable after more than one year | 42 | €51,840 | €50,916 | -€925 | -1.8% |
| Trade debts | 44 | €19,335 | €1,524 | -€17,810 | -92.1% |
| Suppliers | 440/4 | €19,335 | €1,524 | -€17,810 | -92.1% |
| Taxes, remuneration and social security | 45 | €18,936 | €8,695 | -€10,241 | -54.1% |
| Taxes | 450/3 | €17,436 | €6,962 | -€10,474 | -60.1% |
| Remuneration and social security | 454/9 | €1,500 | €1,733 | +€233 | +15.5% |
| Other amounts payable | 47/48 | €40,212 | €176,601 | +€136,389 | +339% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €64,252 | €0 | -€64,252 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,241 | €56,206 | +€25,965 | +85.9% |
| Other operating charges | 640/8 | €3,280 | €2,459 | -€821 | -25.0% |
| Gross operating margin | 9900 | €90,402 | €35,874 | -€54,528 | -60.3% |
| Operating profit (loss) | 9901 | €56,881 | -€22,791 | -€79,673 | |
| Financial income | 75/76B | €161,600 | €171,041 | +€9,440 | +5.8% |
| Recurring financial income | 75 | €161,600 | €171,041 | +€9,440 | +5.8% |
| Financial charges | 65/66B | €15,876 | €19,284 | +€3,408 | +21.5% |
| Recurring financial charges | 65 | €15,876 | €19,284 | +€3,408 | +21.5% |
| Profit (loss) for the period before taxes | 9903 | €202,606 | €128,966 | -€73,640 | -36.3% |
| Transfer from deferred taxes | 780 | €47 | €269 | +€223 | +476% |
| Transfer to deferred taxes | 680 | €8,081 | €0 | -€8,081 | -100% |
| Income taxes | 67/77 | €583 | €429 | -€154 | -26.4% |
| Profit (loss) for the period | 9904 | €193,989 | €128,806 | -€65,183 | -33.6% |
| Transfer from tax-exempt reserves | 789 | €187 | €1,077 | +€890 | +476% |
| Transfer to tax-exempt reserves | 689 | €32,322 | €0 | -€32,322 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €161,854 | €129,883 | -€31,971 | -19.8% |
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 27 October 2026 via checked.be.