De Vurige Drie: 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 Vurige Drie
Largest movements
- Cash +€79,614
up €79,614 (+161%), from €49,311 to €128,925
mainly Net result for the year (+€75,850) and Depreciation (+€17,783)
- Tangible fixed assets -€13,002
down €13,002 (-4.2%), from €308,296 to €295,294
of which Land and buildings: -€12,302
- Receivables within one year -€11,143
down €11,143 (-33.9%), from €32,898 to €21,756
of which Trade receivables: -€7,711
- Reserves +€75,850
up €75,850 (+169%), from €44,768 to €120,618
- Debts after one year -€10,860
down €10,860 (-5.6%), from €193,577 to €182,717
- Tax, wage and social debts -€9,137
down €9,137 (-99.9%), from €9,144 to €7
- Gross operating margin +€39,518
up €39,518 (+44.4%), from €88,912 to €128,430
- Taxes +€10,218
up €10,218 (+56.0%), from €18,245 to €28,463
- Other operating charges -€1,292
down €1,292 (-34.3%), from €3,771 to €2,479
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 | €391,360 | €446,872 | +€55,512 | +14.2% |
| Fixed assets | 21/28 | €308,296 | €295,294 | -€13,002 | -4.2% |
| Tangible fixed assets | 22/27 | €308,296 | €295,294 | -€13,002 | -4.2% |
| Land and buildings | 22 | €294,888 | €282,586 | -€12,302 | -4.2% |
| Plant, machinery and equipment | 23 | €749 | €1,908 | +€1,160 | +155% |
| Furniture and vehicles | 24 | €12,660 | €10,800 | -€1,859 | -14.7% |
| Current assets | 29/58 | €83,064 | €151,578 | +€68,514 | +82.5% |
| Amounts receivable within one year | 40/41 | €32,898 | €21,756 | -€11,143 | -33.9% |
| Trade receivables | 40 | €27,844 | €20,133 | -€7,711 | -27.7% |
| Other amounts receivable | 41 | €5,055 | €1,623 | -€3,432 | -67.9% |
| Cash at bank and in hand | 54/58 | €49,311 | €128,925 | +€79,614 | +161% |
| Deferred charges and accrued income | 490/1 | €855 | €897 | +€42 | +4.9% |
| Total equity and liabilities | 10/49 | €391,360 | €446,872 | +€55,512 | +14.2% |
| Equity | 10/15 | €63,368 | €139,218 | +€75,850 | +120% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €44,768 | €120,618 | +€75,850 | +169% |
| Distributable reserves | 133 | €44,768 | €120,618 | +€75,850 | +169% |
| Amounts payable | 17/49 | €327,992 | €307,654 | -€20,338 | -6.2% |
| Amounts payable after more than one year | 17 | €193,577 | €182,717 | -€10,860 | -5.6% |
| Financial debts | 170/4 | €193,577 | €182,717 | -€10,860 | -5.6% |
| Amounts payable within one year | 42/48 | €133,065 | €124,937 | -€8,128 | -6.1% |
| Current portion of amounts payable after more than one year | 42 | €10,658 | €10,860 | +€202 | +1.9% |
| Trade debts | 44 | €5,172 | €5,162 | -€9 | -0.2% |
| Suppliers | 440/4 | €5,172 | €5,162 | -€9 | -0.2% |
| Advances received on contracts in progress | 46 | - | €2,360 | +€2,360 | |
| Taxes, remuneration and social security | 45 | €9,144 | €7 | -€9,137 | -99.9% |
| Taxes | 450/3 | €9,144 | €7 | -€9,137 | -99.9% |
| Other amounts payable | 47/48 | €108,091 | €106,548 | -€1,543 | -1.4% |
| Accrued charges and deferred income | 492/3 | €1,350 | - | -€1,350 | |
| Non-recurring operating income | 76A | €16,050 | €16,653 | +€603 | +3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,012 | €17,783 | -€230 | -1.3% |
| Other operating charges | 640/8 | €3,771 | €2,479 | -€1,292 | -34.3% |
| Gross operating margin | 9900 | €88,912 | €128,430 | +€39,518 | +44.4% |
| Operating profit (loss) | 9901 | €67,129 | €108,168 | +€41,040 | +61.1% |
| Financial income | 75/76B | - | €17 | +€17 | |
| Recurring financial income | 75 | - | €17 | +€17 | |
| Financial charges | 65/66B | €4,116 | €3,872 | -€243 | -5.9% |
| Recurring financial charges | 65 | €4,116 | €3,872 | -€243 | -5.9% |
| Profit (loss) for the period before taxes | 9903 | €63,013 | €104,312 | +€41,299 | +65.5% |
| Income taxes | 67/77 | €18,245 | €28,463 | +€10,218 | +56.0% |
| Profit (loss) for the period | 9904 | €44,768 | €75,850 | +€31,081 | +69.4% |
| Profit (loss) for the period to be appropriated | 9905 | €44,768 | €75,850 | +€31,081 | +69.4% |
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 26 October 2026 via checked.be.