DEN VLASCHAERT: 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.
DEN VLASCHAERT
Largest movements
- Cash -€36,115
down €36,115 (-17.9%), from €201,634 to €165,519
mainly Contributions, distributions and other (-€35,000) and Trade debts (-€13,072)
- Receivables within one year -€12,308
down €12,308 (-23.8%), from €51,704 to €39,395
of which Trade receivables: -€6,749
- Tangible fixed assets -€8,446
down €8,446 (-30.0%), from €28,189 to €19,743
- Financial fixed assets +€6,000
new in 2025: €6,000
- Stocks and contracts +€5,483
up €5,483 (+79.6%), from €6,892 to €12,375
- Profit (loss) carried forward -€25,169
down €25,169 (-10.9%), from €230,559 to €205,390
- Trade debts -€13,072
down €13,072 (-29.4%), from €44,416 to €31,345
- Tax, wage and social debts -€7,146
down €7,146 (-13.3%), from €53,766 to €46,620
of which Taxes: -€5,068
- Gross operating margin -€51,563
down €51,563 (-17.4%), from €296,044 to €244,481
- Taxes -€7,549
down €7,549 (-70.7%), from €10,682 to €3,133
- Staff costs -€6,385
down €6,385 (-2.8%), from €227,084 to €220,699
- Depreciation -€4,273
down €4,273 (-33.6%), from €12,719 to €8,446
- Financial charges -€3,842
down €3,842 (-55.5%), from €6,925 to €3,083
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 | €388,418 | €343,031 | -€45,387 | -11.7% |
| Fixed assets | 21/28 | €28,189 | €25,743 | -€2,446 | -8.7% |
| Tangible fixed assets | 22/27 | €28,189 | €19,743 | -€8,446 | -30.0% |
| Land and buildings | 22 | €8,178 | €5,840 | -€2,338 | -28.6% |
| Plant, machinery and equipment | 23 | €6,409 | €4,550 | -€1,859 | -29.0% |
| Furniture and vehicles | 24 | €3,613 | €693 | -€2,920 | -80.8% |
| Other tangible fixed assets | 26 | €9,989 | €8,659 | -€1,329 | -13.3% |
| Financial fixed assets | 28 | - | €6,000 | +€6,000 | |
| Current assets | 29/58 | €360,229 | €317,288 | -€42,941 | -11.9% |
| Stocks and contracts in progress | 3 | €6,892 | €12,375 | +€5,483 | +79.6% |
| Stocks | 30/36 | €6,892 | €12,375 | +€5,483 | +79.6% |
| Amounts receivable within one year | 40/41 | €51,704 | €39,395 | -€12,308 | -23.8% |
| Trade receivables | 40 | €24,566 | €17,817 | -€6,749 | -27.5% |
| Other amounts receivable | 41 | €27,137 | €21,578 | -€5,559 | -20.5% |
| Current investments | 50/53 | €100,000 | €100,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €201,634 | €165,519 | -€36,115 | -17.9% |
| Total equity and liabilities | 10/49 | €388,418 | €343,031 | -€45,387 | -11.7% |
| Equity | 10/15 | €288,602 | €263,433 | -€25,169 | -8.7% |
| Contributions | 10/11 | €5,750 | €5,750 | = | 0.0% |
| Reserves | 13 | €52,293 | €52,293 | = | 0.0% |
| Non-distributable reserves | 130/1 | €575 | €575 | = | 0.0% |
| Reserves not available under the articles | 1311 | €575 | €575 | = | 0.0% |
| Distributable reserves | 133 | €51,718 | €51,718 | = | 0.0% |
| Profit (loss) carried forward | 14 | €230,559 | €205,390 | -€25,169 | -10.9% |
| Amounts payable | 17/49 | €99,816 | €79,598 | -€20,218 | -20.3% |
| Amounts payable within one year | 42/48 | €99,816 | €79,598 | -€20,218 | -20.3% |
| Trade debts | 44 | €44,416 | €31,345 | -€13,072 | -29.4% |
| Suppliers | 440/4 | €44,416 | €31,345 | -€13,072 | -29.4% |
| Taxes, remuneration and social security | 45 | €53,766 | €46,620 | -€7,146 | -13.3% |
| Taxes | 450/3 | €26,755 | €21,687 | -€5,068 | -18.9% |
| Remuneration and social security | 454/9 | €27,011 | €24,934 | -€2,078 | -7.7% |
| Other amounts payable | 47/48 | €1,633 | €1,633 | = | 0.0% |
| Non-recurring operating income | 76A | - | €15,000 | +€15,000 | |
| Remuneration, social security and pensions | 62 | €227,084 | €220,699 | -€6,385 | -2.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,719 | €8,446 | -€4,273 | -33.6% |
| Other operating charges | 640/8 | €772 | €720 | -€53 | -6.8% |
| Gross operating margin | 9900 | €296,044 | €244,481 | -€51,563 | -17.4% |
| Operating profit (loss) | 9901 | €55,469 | €14,616 | -€40,852 | -73.6% |
| Financial income | 75/76B | €1,491 | €1,431 | -€60 | -4.0% |
| Recurring financial income | 75 | €1,491 | €1,431 | -€60 | -4.0% |
| Financial charges | 65/66B | €6,925 | €3,083 | -€3,842 | -55.5% |
| Recurring financial charges | 65 | €6,925 | €3,083 | -€3,842 | -55.5% |
| Profit (loss) for the period before taxes | 9903 | €50,034 | €12,964 | -€37,070 | -74.1% |
| Income taxes | 67/77 | €10,682 | €3,133 | -€7,549 | -70.7% |
| Profit (loss) for the period | 9904 | €39,352 | €9,831 | -€29,521 | -75.0% |
| Profit (loss) for the period to be appropriated | 9905 | €39,352 | €9,831 | -€29,521 | -75.0% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.