DE VOGELSANCK: 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 VOGELSANCK
Largest movements
- Receivables after one year +€50,000
new in 2025: €50,000
- Cash -€18,991
down €18,991 (-15.2%), from €124,918 to €105,927
mainly Receivables after one year (-€50,000) and Trade debts (-€36,639)
- Tangible fixed assets +€11,625
up €11,625 (+68.7%), from €16,922 to €28,547
of which Plant, machinery and equipment: +€8,913
- Deferred charges and accrued income +€10,212
up €10,212 (+893%), from €1,144 to €11,356
- Stocks and contracts -€7,964
down €7,964 (-33.9%), from €23,476 to €15,512
- Debts after one year +€38,021
new in 2025: €38,021
- Trade debts -€36,639
down €36,639 (-79.9%), from €45,838 to €9,199
- Other debts -€31,008
no longer reported in 2025 (was €31,008)
- Tax, wage and social debts +€24,643
up €24,643 (+87.2%), from €28,257 to €52,900
of which Taxes: +€12,587
- Profit (loss) carried forward +€20,557
no longer reported in 2025 (was -€20,557)
- Gross operating margin -€18,137
down €18,137 (-6.7%), from €269,100 to €250,963
- Other operating charges -€3,586
down €3,586 (-63.8%), from €5,618 to €2,032
- Staff costs +€3,534
up €3,534 (+1.8%), from €194,796 to €198,329
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 | €175,834 | €217,444 | +€41,611 | +23.7% |
| Fixed assets | 21/28 | €17,915 | €29,540 | +€11,625 | +64.9% |
| Tangible fixed assets | 22/27 | €16,922 | €28,547 | +€11,625 | +68.7% |
| Plant, machinery and equipment | 23 | €2,543 | €11,456 | +€8,913 | +350% |
| Furniture and vehicles | 24 | €3,950 | €3,050 | -€900 | -22.8% |
| Other tangible fixed assets | 26 | €10,428 | €14,041 | +€3,613 | +34.6% |
| Financial fixed assets | 28 | €993 | €993 | = | 0.0% |
| Current assets | 29/58 | €157,919 | €187,904 | +€29,986 | +19.0% |
| Amounts receivable after more than one year | 29 | - | €50,000 | +€50,000 | |
| Other amounts receivable | 291 | - | €50,000 | +€50,000 | |
| Stocks and contracts in progress | 3 | €23,476 | €15,512 | -€7,964 | -33.9% |
| Stocks | 30/36 | €23,476 | €15,512 | -€7,964 | -33.9% |
| Amounts receivable within one year | 40/41 | €8,380 | €5,109 | -€3,271 | -39.0% |
| Trade receivables | 40 | €1,365 | €1,707 | +€342 | +25.0% |
| Other amounts receivable | 41 | €7,015 | €3,402 | -€3,613 | -51.5% |
| Cash at bank and in hand | 54/58 | €124,918 | €105,927 | -€18,991 | -15.2% |
| Deferred charges and accrued income | 490/1 | €1,144 | €11,356 | +€10,212 | +893% |
| Total equity and liabilities | 10/49 | €175,834 | €217,444 | +€41,611 | +23.7% |
| Equity | 10/15 | €68,449 | €107,389 | +€38,940 | +56.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €70,407 | €88,789 | +€18,382 | +26.1% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €68,547 | €88,789 | +€20,242 | +29.5% |
| Profit (loss) carried forward | 14 | -€20,557 | - | +€20,557 | |
| Amounts payable | 17/49 | €107,384 | €110,055 | +€2,671 | +2.5% |
| Amounts payable after more than one year | 17 | - | €38,021 | +€38,021 | |
| Financial debts | 170/4 | - | €38,021 | +€38,021 | |
| Amounts payable within one year | 42/48 | €105,103 | €71,709 | -€33,394 | -31.8% |
| Current portion of amounts payable after more than one year | 42 | - | €9,610 | +€9,610 | |
| Trade debts | 44 | €45,838 | €9,199 | -€36,639 | -79.9% |
| Suppliers | 440/4 | €45,838 | €9,199 | -€36,639 | -79.9% |
| Taxes, remuneration and social security | 45 | €28,257 | €52,900 | +€24,643 | +87.2% |
| Taxes | 450/3 | €10,759 | €23,346 | +€12,587 | +117% |
| Remuneration and social security | 454/9 | €17,498 | €29,554 | +€12,056 | +68.9% |
| Other amounts payable | 47/48 | €31,008 | - | -€31,008 | |
| Accrued charges and deferred income | 492/3 | €2,281 | €325 | -€1,956 | -85.7% |
| Remuneration, social security and pensions | 62 | €194,796 | €198,329 | +€3,534 | +1.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,082 | €7,417 | +€1,335 | +22.0% |
| Other operating charges | 640/8 | €5,618 | €2,032 | -€3,586 | -63.8% |
| Gross operating margin | 9900 | €269,100 | €250,963 | -€18,137 | -6.7% |
| Operating profit (loss) | 9901 | €62,604 | €43,184 | -€19,420 | -31.0% |
| Financial income | 75/76B | €15 | €671 | +€655 | +4,266% |
| Recurring financial income | 75 | €15 | €671 | +€655 | +4,266% |
| Financial charges | 65/66B | €4,092 | €3,062 | -€1,030 | -25.2% |
| Recurring financial charges | 65 | €4,092 | €3,062 | -€1,030 | -25.2% |
| Profit (loss) for the period before taxes | 9903 | €58,528 | €40,794 | -€17,734 | -30.3% |
| Income taxes | 67/77 | - | €1,854 | +€1,854 | |
| Profit (loss) for the period | 9904 | €58,528 | €38,940 | -€19,588 | -33.5% |
| Transfer from tax-exempt reserves | 789 | €7,300 | - | -€7,300 | |
| Profit (loss) for the period to be appropriated | 9905 | €65,828 | €38,940 | -€26,889 | -40.8% |
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 16 October 2026 via checked.be.