ERIK VANTIEGHEM: 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.
What changed
ERIK VANTIEGHEM
NACE 46.810, Wholesale of solid, liquid and gaseous fuels and related products
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€521,805
2024 · €587,485-€65,680
Equity
€4.8m
2024 · €4.5m+€321,805
Cash
€668,519
2024 · €104,701+€563,818
Balance sheet total
€15.2m
2024 · €9.4m+€5.9m
Largest movements
Assets
- Receivables within one year +€3.1m
up €3.1m (+41.0%), from €7.7m to €10.8m
of which Trade receivables: +€2.2m
- Tangible fixed assets +€1.6m
up €1.6m (+184%), from €863,030 to €2.5m
of which Furniture and vehicles: +€1.4m
- Cash +€563,818
up €563,818 (+539%), from €104,701 to €668,519
mainly Trade debts (+€3.9m) and Debts after one year (+€1.5m)
- Intangible fixed assets +€545,776
up €545,776 (+169%), from €323,740 to €869,516
Equity and liabilities
- Trade debts +€3.9m
up €3.9m (+96.6%), from €4.0m to €7.8m
- Debts after one year +€1.5m
up €1.5m (+308%), from €474,490 to €1.9m
- Reserves +€321,805
up €321,805 (+7.2%), from €4.4m to €4.8m
of which Distributable reserves: +€221,805
- Current portion of long-term debt +€257,735
up €257,735 (+121%), from €213,740 to €471,474
Income statement
- Goods and materials -€2.7m
down €2.7m (-3.6%), from €75.9m to €73.2m
of which Purchases: -€2.9m
- Turnover -€2.5m
down €2.5m (-3.1%), from €80.4m to €77.9m
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.
Result 2024
€587,485
Turnover
-€2.5m
Other operating income
+€31,595
Goods and materials
+€2.7m
Services and other goods
+€43,060
Staff costs
-€135,364
Depreciation
-€245,553
Other operating charges
-€223,505
Other operating items
+€18,548
Financial income
+€29,479
Financial charges
+€158,005
Taxes
+€20,389
Result 2025
€521,805
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€1.8m
Investment
-€2.7m
Financing
+€1.5m
Cash 2024
€104,701
From operations (derived)
+€1.8m
Net result for the year
+€521,805
Depreciation
+€610,643
Stocks and contracts
+€61,365
Receivables within one year
-€3.1m
Deferred charges and accrued income
-€88,490
Trade debts
+€3.9m
Tax, wage and social debts
-€18,850
Smaller working-capital items
-€7,137
Investment (derived)
-€2.7m
Investment in fixed assets (net)
-€2.7m
Financing
+€1.5m
Debts after one year
+€1.5m
Current portion of long-term debt
+€257,735
Short-term financial debts
-€267
Contributions, distributions and other
-€200,000
Cash 2025
€668,519
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,356,532 | €15,220,977 | +€5.9m | +62.7% |
| Fixed assets | 21/28 | €1,187,725 | €3,324,390 | +€2.1m | +180% |
| Intangible fixed assets | 21 | €323,740 | €869,516 | +€545,776 | +169% |
| Tangible fixed assets | 22/27 | €863,030 | €2,453,379 | +€1.6m | +184% |
| Land and buildings | 22 | €153,989 | €328,560 | +€174,571 | +113% |
| Plant, machinery and equipment | 23 | €4,084 | €10,552 | +€6,468 | +158% |
| Furniture and vehicles | 24 | €704,957 | €2,114,267 | +€1.4m | +200% |
| Financial fixed assets | 28 | €955 | €1,495 | +€540 | +56.5% |
| Other financial fixed assets | 284/8 | €955 | €1,495 | +€540 | +56.5% |
| Amounts receivable and cash guarantees | 285/8 | €955 | €1,495 | +€540 | +56.5% |
| Current assets | 29/58 | €8,168,807 | €11,896,587 | +€3.7m | +45.6% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Stocks and contracts in progress | 3 | €362,365 | €301,000 | -€61,365 | -16.9% |
| Stocks | 30/36 | €362,365 | €301,000 | -€61,365 | -16.9% |
| Goods purchased for resale | 34 | €362,365 | €301,000 | -€61,365 | -16.9% |
| Amounts receivable within one year | 40/41 | €7,656,077 | €10,792,913 | +€3.1m | +41.0% |
| Trade receivables | 40 | €4,394,628 | €6,594,853 | +€2.2m | +50.1% |
| Other amounts receivable | 41 | €3,261,448 | €4,198,060 | +€936,611 | +28.7% |
| Cash at bank and in hand | 54/58 | €104,701 | €668,519 | +€563,818 | +539% |
| Deferred charges and accrued income | 490/1 | €45,665 | €134,156 | +€88,490 | +194% |
| Total equity and liabilities | 10/49 | €9,356,532 | €15,220,977 | +€5.9m | +62.7% |
| Equity | 10/15 | €4,501,163 | €4,822,968 | +€321,805 | +7.1% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €4,439,163 | €4,760,968 | +€321,805 | +7.2% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €309,379 | €409,379 | +€100,000 | +32.3% |
| Distributable reserves | 133 | €4,123,584 | €4,345,389 | +€221,805 | +5.4% |
| Amounts payable | 17/49 | €4,855,369 | €10,398,009 | +€5.5m | +114% |
| Amounts payable after more than one year | 17 | €474,490 | €1,934,162 | +€1.5m | +308% |
| Financial debts | 170/4 | €474,490 | €1,934,162 | +€1.5m | +308% |
| Leasing and similar obligations | 172 | €241,535 | €1,349,432 | +€1.1m | +459% |
| Credit institutions | 173 | €232,956 | €584,730 | +€351,774 | +151% |
| Amounts payable within one year | 42/48 | €4,380,879 | €8,463,847 | +€4.1m | +93.2% |
| Current portion of amounts payable after more than one year | 42 | €213,740 | €471,474 | +€257,735 | +121% |
| Financial debts | 43 | €50,711 | €50,444 | -€267 | -0.5% |
| Credit institutions | 430/8 | €50,711 | €50,444 | -€267 | -0.5% |
| Trade debts | 44 | €3,985,653 | €7,837,141 | +€3.9m | +96.6% |
| Suppliers | 440/4 | €3,985,653 | €7,837,141 | +€3.9m | +96.6% |
| Advances received on contracts in progress | 46 | €6,080 | €0 | -€6,080 | -100% |
| Taxes, remuneration and social security | 45 | €123,637 | €104,787 | -€18,850 | -15.2% |
| Taxes | 450/3 | €88,948 | €52,660 | -€36,288 | -40.8% |
| Remuneration and social security | 454/9 | €34,689 | €52,127 | +€17,438 | +50.3% |
| Other amounts payable | 47/48 | €1,057 | €0 | -€1,057 | -100% |
| Operating income | 70/76A | €80,597,415 | €78,168,006 | -€2.4m | -3.0% |
| Turnover | 70 | €80,368,191 | €77,907,187 | -€2.5m | -3.1% |
| Other operating income | 74 | €229,224 | €260,819 | +€31,595 | +13.8% |
| Operating charges | 60/66A | €79,601,926 | €77,446,070 | -€2.2m | -2.7% |
| Goods for resale, raw materials and consumables | 60 | €75,928,992 | €73,230,322 | -€2.7m | -3.6% |
| Purchases | 600/8 | €76,094,722 | €73,168,957 | -€2.9m | -3.8% |
| Change in stocks: decrease (increase) | 609 | -€165,729 | €61,365 | +€227,094 | |
| Services and other goods | 61 | €2,872,684 | €2,829,624 | -€43,060 | -1.5% |
| Remuneration, social security and pensions | 62 | €394,949 | €530,313 | +€135,364 | +34.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €365,089 | €610,643 | +€245,553 | +67.3% |
| Other operating charges | 640/8 | €21,664 | €245,168 | +€223,505 | +1,032% |
| Non-recurring operating charges | 66A | €18,548 | €0 | -€18,548 | -100% |
| Operating profit (loss) | 9901 | €995,490 | €721,936 | -€273,553 | -27.5% |
| Financial income | 75/76B | €139,777 | €169,256 | +€29,479 | +21.1% |
| Recurring financial income | 75 | €139,777 | €169,256 | +€29,479 | +21.1% |
| Income from financial fixed assets | 750 | €125,551 | €144,972 | +€19,421 | +15.5% |
| Income from current assets | 751 | - | €1 | +€1 | |
| Other financial income | 752/9 | €14,226 | €24,284 | +€10,058 | +70.7% |
| Financial charges | 65/66B | €348,323 | €190,317 | -€158,005 | -45.4% |
| Recurring financial charges | 65 | €348,323 | €190,317 | -€158,005 | -45.4% |
| Debt charges | 650 | €345,414 | €187,028 | -€158,386 | -45.9% |
| Other financial charges | 652/9 | €2,908 | €3,289 | +€381 | +13.1% |
| Profit (loss) for the period before taxes | 9903 | €786,944 | €700,875 | -€86,069 | -10.9% |
| Income taxes | 67/77 | €199,459 | €179,071 | -€20,389 | -10.2% |
| Taxes | 670/3 | €199,459 | €179,071 | -€20,389 | -10.2% |
| Profit (loss) for the period | 9904 | €587,485 | €521,805 | -€65,680 | -11.2% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €587,485 | €521,805 | -€65,680 | -11.2% |
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 14 October 2026 via checked.be.