Dr. Vrancken A.: 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.
Dr. Vrancken A.
Largest movements
- Receivables within one year +€69,422
up €69,422 (+82.4%), from €84,238 to €153,660
of which Other amounts receivable: +€55,675
- Financial fixed assets +€60,000
up €60,000 (+30,000%), from €200 to €60,200
- Tangible fixed assets -€23,600
down €23,600 (-20.4%), from €115,619 to €92,018
of which Furniture and vehicles: -€20,374
- Current investments +€8,000
new in 2025: €8,000
- Reserves +€55,653
up €55,653 (+11.8%), from €472,394 to €528,047
of which Distributable reserves: +€55,653
- Tax, wage and social debts +€51,000
up €51,000 (+179%), from €28,454 to €79,455
- Accrued charges and deferred income +€11,744
new in 2025: €11,744
- Debts after one year -€10,162
down €10,162 (-37.4%), from €27,161 to €16,999
- Gross operating margin +€19,934
up €19,934 (+8.2%), from €244,324 to €264,258
- Taxes +€11,092
up €11,092 (+22.0%), from €50,363 to €61,455
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 | €550,149 | €659,531 | +€109,382 | +19.9% |
| Fixed assets | 21/28 | €115,819 | €152,218 | +€36,400 | +31.4% |
| Tangible fixed assets | 22/27 | €115,619 | €92,018 | -€23,600 | -20.4% |
| Land and buildings | 22 | €17,907 | €14,854 | -€3,053 | -17.1% |
| Plant, machinery and equipment | 23 | €192 | €19 | -€173 | -90.0% |
| Furniture and vehicles | 24 | €96,819 | €76,445 | -€20,374 | -21.0% |
| Other tangible fixed assets | 26 | €700 | €700 | = | 0.0% |
| Financial fixed assets | 28 | €200 | €60,200 | +€60,000 | +30,000% |
| Current assets | 29/58 | €434,330 | €507,313 | +€72,983 | +16.8% |
| Amounts receivable within one year | 40/41 | €84,238 | €153,660 | +€69,422 | +82.4% |
| Trade receivables | 40 | €41,379 | €55,126 | +€13,747 | +33.2% |
| Other amounts receivable | 41 | €42,859 | €98,534 | +€55,675 | +130% |
| Current investments | 50/53 | - | €8,000 | +€8,000 | |
| Cash at bank and in hand | 54/58 | €345,258 | €340,865 | -€4,393 | -1.3% |
| Deferred charges and accrued income | 490/1 | €4,834 | €4,788 | -€46 | -1.0% |
| Total equity and liabilities | 10/49 | €550,149 | €659,531 | +€109,382 | +19.9% |
| Equity | 10/15 | €484,794 | €540,447 | +€55,653 | +11.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €472,394 | €528,047 | +€55,653 | +11.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €470,534 | €526,187 | +€55,653 | +11.8% |
| Amounts payable | 17/49 | €65,355 | €119,085 | +€53,730 | +82.2% |
| Amounts payable after more than one year | 17 | €27,161 | €16,999 | -€10,162 | -37.4% |
| Financial debts | 170/4 | €27,161 | €16,999 | -€10,162 | -37.4% |
| Amounts payable within one year | 42/48 | €38,194 | €90,342 | +€52,148 | +137% |
| Financial debts | 43 | €9,740 | €10,162 | +€422 | +4.3% |
| Credit institutions | 430/8 | €9,740 | €10,162 | +€422 | +4.3% |
| Trade debts | 44 | €0 | €725 | +€725 | |
| Suppliers | 440/4 | €0 | €725 | +€725 | |
| Taxes, remuneration and social security | 45 | €28,454 | €79,455 | +€51,000 | +179% |
| Taxes | 450/3 | €28,454 | €79,455 | +€51,000 | +179% |
| Accrued charges and deferred income | 492/3 | - | €11,744 | +€11,744 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,418 | €23,600 | -€818 | -3.3% |
| Other operating charges | 640/8 | €1,946 | €1,904 | -€42 | -2.1% |
| Gross operating margin | 9900 | €244,324 | €264,258 | +€19,934 | +8.2% |
| Operating profit (loss) | 9901 | €217,960 | €238,753 | +€20,794 | +9.5% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €2,079 | €1,646 | -€434 | -20.9% |
| Recurring financial charges | 65 | €2,079 | €1,646 | -€434 | -20.9% |
| Profit (loss) for the period before taxes | 9903 | €215,880 | €237,108 | +€21,227 | +9.8% |
| Income taxes | 67/77 | €50,363 | €61,455 | +€11,092 | +22.0% |
| Profit (loss) for the period | 9904 | €165,517 | €175,653 | +€10,136 | +6.1% |
| Profit (loss) for the period to be appropriated | 9905 | €165,517 | €175,653 | +€10,136 | +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 22 October 2026 via checked.be.