DR. VANWING V.: what changed
Two fiscal 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.
DR. VANWING V.
Largest movements
- Receivables within one year -€26,992
down €26,992 (-87.7%), from €30,770 to €3,778
of which Other amounts receivable: -€15,626
- Tangible fixed assets -€25,988
down €25,988 (-6.6%), from €393,172 to €367,184
of which Land and buildings: -€16,644
- Current investments +€18,001
new in 2025: €18,001
- Cash -€5,358
down €5,358 (-38.9%), from €13,785 to €8,427
mainly Debts after one year (-€28,466) and Current investments (-€18,001)
- Debts after one year -€28,466
down €28,466 (-8.2%), from €345,657 to €317,190
- Profit (loss) carried forward -€12,997
new in 2025: -€12,997
- Gross operating margin -€22,571
down €22,571 (-48.9%), from €46,127 to €23,556
- Taxes -€2,941
down €2,941 (-90.8%), from €3,239 to €298
- Depreciation -€709
down €709 (-2.7%), from €26,697 to €25,988
- Financial charges -€688
down €688 (-6.8%), from €10,067 to €9,379
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 | €442,960 | €400,276 | -€42,684 | -9.6% |
| Fixed assets | 21/28 | €393,172 | €367,184 | -€25,988 | -6.6% |
| Tangible fixed assets | 22/27 | €393,172 | €367,184 | -€25,988 | -6.6% |
| Land and buildings | 22 | €379,721 | €363,076 | -€16,644 | -4.4% |
| Furniture and vehicles | 24 | €13,452 | €4,107 | -€9,344 | -69.5% |
| Current assets | 29/58 | €49,788 | €33,092 | -€16,695 | -33.5% |
| Amounts receivable within one year | 40/41 | €30,770 | €3,778 | -€26,992 | -87.7% |
| Trade receivables | 40 | €11,365 | - | -€11,365 | |
| Other amounts receivable | 41 | €19,404 | €3,778 | -€15,626 | -80.5% |
| Current investments | 50/53 | - | €18,001 | +€18,001 | |
| Cash at bank and in hand | 54/58 | €13,785 | €8,427 | -€5,358 | -38.9% |
| Deferred charges and accrued income | 490/1 | €5,233 | €2,886 | -€2,347 | -44.9% |
| Total equity and liabilities | 10/49 | €442,960 | €400,276 | -€42,684 | -9.6% |
| Equity | 10/15 | €60,900 | €47,903 | -€12,997 | -21.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €55,900 | €55,900 | = | 0.0% |
| Distributable reserves | 133 | €55,900 | €55,900 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€12,997 | -€12,997 | |
| Amounts payable | 17/49 | €382,060 | €352,373 | -€29,687 | -7.8% |
| Amounts payable after more than one year | 17 | €345,657 | €317,190 | -€28,466 | -8.2% |
| Financial debts | 170/4 | €345,657 | €317,190 | -€28,466 | -8.2% |
| Amounts payable within one year | 42/48 | €36,403 | €35,183 | -€1,220 | -3.4% |
| Current portion of amounts payable after more than one year | 42 | €32,407 | €28,466 | -€3,941 | -12.2% |
| Trade debts | 44 | €1,017 | €2,684 | +€1,667 | +163.8% |
| Suppliers | 440/4 | €1,017 | €2,684 | +€1,667 | +163.8% |
| Taxes, remuneration and social security | 45 | €1,518 | €4,033 | +€2,515 | +165.7% |
| Taxes | 450/3 | €1,518 | €4,033 | +€2,515 | +165.7% |
| Other amounts payable | 47/48 | €1,460 | - | -€1,460 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,697 | €25,988 | -€709 | -2.7% |
| Other operating charges | 640/8 | €1,782 | €1,921 | +€140 | +7.8% |
| Gross operating margin | 9900 | €46,127 | €23,556 | -€22,571 | -48.9% |
| Operating profit (loss) | 9901 | €17,649 | -€4,354 | -€22,002 | |
| Financial income | 75/76B | €1,138 | €1,033 | -€104 | -9.2% |
| Recurring financial income | 75 | €1,138 | €1,033 | -€104 | -9.2% |
| Financial charges | 65/66B | €10,067 | €9,379 | -€688 | -6.8% |
| Recurring financial charges | 65 | €10,067 | €9,379 | -€688 | -6.8% |
| Profit (loss) for the period before taxes | 9903 | €8,719 | -€12,699 | -€21,418 | |
| Income taxes | 67/77 | €3,239 | €298 | -€2,941 | -90.8% |
| Profit (loss) for the period | 9904 | €5,480 | -€12,997 | -€18,477 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,480 | -€12,997 | -€18,477 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.