De Vredesboom: 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 Vredesboom
Largest movements
- Cash +€147,128
up €147,128 (+200%), from €73,448 to €220,576
mainly Depreciation (+€88,777) and Net result for the year (+€78,121)
- Tangible fixed assets -€61,190
down €61,190 (-5.1%), from €1.2m to €1.1m
of which Land and buildings: -€46,898
- Intangible fixed assets -€20,000
down €20,000 (-12.4%), from €161,667 to €141,667
- Reserves +€78,121
up €78,121 (+48.4%), from €161,506 to €239,627
- Debts after one year -€49,305
down €49,305 (-5.9%), from €836,731 to €787,425
- Accrued charges and deferred income +€22,489
up €22,489 (+1,778%), from €1,265 to €23,754
- Tax, wage and social debts +€20,068
up €20,068 (+60.1%), from €33,419 to €53,488
of which Taxes: +€20,801
- Gross operating margin +€70,258
up €70,258 (+24.6%), from €285,420 to €355,677
- Financial charges +€45,300
up €45,300 (+292%), from €15,504 to €60,804
- Depreciation +€33,653
up €33,653 (+61.1%), from €55,124 to €88,777
- Other operating charges -€21,791
down €21,791 (-80.3%), from €27,145 to €5,354
- Staff costs +€7,315
up €7,315 (+7.6%), from €95,835 to €103,150
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 | €1,444,115 | €1,512,736 | +€68,622 | +4.8% |
| Fixed assets | 21/28 | €1,359,294 | €1,278,104 | -€81,190 | -6.0% |
| Intangible fixed assets | 21 | €161,667 | €141,667 | -€20,000 | -12.4% |
| Tangible fixed assets | 22/27 | €1,197,627 | €1,136,437 | -€61,190 | -5.1% |
| Land and buildings | 22 | €1,131,750 | €1,084,852 | -€46,898 | -4.1% |
| Plant, machinery and equipment | 23 | €32,887 | €22,995 | -€9,892 | -30.1% |
| Furniture and vehicles | 24 | €5,754 | €4,724 | -€1,029 | -17.9% |
| Other tangible fixed assets | 26 | €27,236 | €23,865 | -€3,371 | -12.4% |
| Current assets | 29/58 | €84,821 | €234,632 | +€149,811 | +177% |
| Stocks and contracts in progress | 3 | €2,450 | €3,715 | +€1,265 | +51.6% |
| Stocks | 30/36 | €2,450 | €3,715 | +€1,265 | +51.6% |
| Amounts receivable within one year | 40/41 | €8,922 | €8,959 | +€37 | +0.4% |
| Trade receivables | 40 | €8,922 | €8,959 | +€37 | +0.4% |
| Cash at bank and in hand | 54/58 | €73,448 | €220,576 | +€147,128 | +200% |
| Deferred charges and accrued income | 490/1 | - | €1,382 | +€1,382 | |
| Total equity and liabilities | 10/49 | €1,444,115 | €1,512,736 | +€68,622 | +4.8% |
| Equity | 10/15 | €164,506 | €242,627 | +€78,121 | +47.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €161,506 | €239,627 | +€78,121 | +48.4% |
| Distributable reserves | 133 | €161,506 | €239,627 | +€78,121 | +48.4% |
| Amounts payable | 17/49 | €1,279,608 | €1,270,109 | -€9,499 | -0.7% |
| Amounts payable after more than one year | 17 | €836,731 | €787,425 | -€49,305 | -5.9% |
| Financial debts | 170/4 | €836,731 | €787,425 | -€49,305 | -5.9% |
| Amounts payable within one year | 42/48 | €441,613 | €458,930 | +€17,317 | +3.9% |
| Current portion of amounts payable after more than one year | 42 | €47,711 | €49,305 | +€1,594 | +3.3% |
| Trade debts | 44 | €20,979 | €15,282 | -€5,697 | -27.2% |
| Suppliers | 440/4 | €20,979 | €15,282 | -€5,697 | -27.2% |
| Advances received on contracts in progress | 46 | - | €2,128 | +€2,128 | |
| Taxes, remuneration and social security | 45 | €33,419 | €53,488 | +€20,068 | +60.1% |
| Taxes | 450/3 | €24,254 | €45,056 | +€20,801 | +85.8% |
| Remuneration and social security | 454/9 | €9,165 | €8,432 | -€733 | -8.0% |
| Other amounts payable | 47/48 | €339,504 | €338,727 | -€776 | -0.2% |
| Accrued charges and deferred income | 492/3 | €1,265 | €23,754 | +€22,489 | +1,778% |
| Remuneration, social security and pensions | 62 | €95,835 | €103,150 | +€7,315 | +7.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,124 | €88,777 | +€33,653 | +61.1% |
| Other operating charges | 640/8 | €27,145 | €5,354 | -€21,791 | -80.3% |
| Gross operating margin | 9900 | €285,420 | €355,677 | +€70,258 | +24.6% |
| Operating profit (loss) | 9901 | €107,315 | €158,396 | +€51,081 | +47.6% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €15,504 | €60,804 | +€45,300 | +292% |
| Recurring financial charges | 65 | €15,504 | €60,804 | +€45,300 | +292% |
| Profit (loss) for the period before taxes | 9903 | €91,812 | €97,592 | +€5,780 | +6.3% |
| Income taxes | 67/77 | €18,215 | €19,471 | +€1,256 | +6.9% |
| Profit (loss) for the period | 9904 | €73,597 | €78,121 | +€4,524 | +6.1% |
| Profit (loss) for the period to be appropriated | 9905 | €73,597 | €78,121 | +€4,524 | +6.1% |
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 21 October 2026 via checked.be.