FERNAND VAN INNIS: 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.
FERNAND VAN INNIS
Largest movements
- Tangible fixed assets +€593,291
up €593,291 (+160%), from €371,255 to €964,546
of which Land and buildings: +€584,828
- Receivables within one year -€151,542
down €151,542 (-62.5%), from €242,350 to €90,807
of which Other amounts receivable: -€100,560
- Current investments +€50,000
up €50,000 (+50.0%), from €100,000 to €150,000
- Debts after one year +€518,701
up €518,701 (+216%), from €240,000 to €758,701
- Reserves -€130,850
down €130,850 (-45.6%), from €286,862 to €156,012
of which Distributable reserves: -€130,850
- Other debts +€83,523
up €83,523 (+119%), from €70,153 to €153,676
- Advances received +€36,094
up €36,094 (+27.6%), from €130,950 to €167,044
- Gross operating margin +€44,038
up €44,038 (+118%), from €37,347 to €81,384
- Depreciation +€37,989
up €37,989 (+146%), from €26,038 to €64,026
- Financial charges +€10,110
up €10,110 (+64.1%), from €15,769 to €25,878
- Other operating charges +€2,690
up €2,690 (+54.9%), from €4,897 to €7,587
- Financial income -€1,107
down €1,107 (-24.3%), from €4,559 to €3,452
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 | €770,840 | €1,270,215 | +€499,376 | +64.8% |
| Fixed assets | 21/28 | €371,255 | €964,546 | +€593,291 | +160% |
| Tangible fixed assets | 22/27 | €371,255 | €964,546 | +€593,291 | +160% |
| Land and buildings | 22 | €313,787 | €898,615 | +€584,828 | +186% |
| Plant, machinery and equipment | 23 | €52,875 | €65,794 | +€12,919 | +24.4% |
| Furniture and vehicles | 24 | €4,594 | €137 | -€4,457 | -97.0% |
| Current assets | 29/58 | €399,584 | €305,669 | -€93,915 | -23.5% |
| Amounts receivable within one year | 40/41 | €242,350 | €90,807 | -€151,542 | -62.5% |
| Trade receivables | 40 | €66,437 | €15,455 | -€50,983 | -76.7% |
| Other amounts receivable | 41 | €175,912 | €75,353 | -€100,560 | -57.2% |
| Current investments | 50/53 | €100,000 | €150,000 | +€50,000 | +50.0% |
| Cash at bank and in hand | 54/58 | €47,113 | €56,804 | +€9,690 | +20.6% |
| Deferred charges and accrued income | 490/1 | €10,121 | €8,058 | -€2,063 | -20.4% |
| Total equity and liabilities | 10/49 | €770,840 | €1,270,215 | +€499,376 | +64.8% |
| Equity | 10/15 | €305,412 | €174,562 | -€130,850 | -42.8% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €286,862 | €156,012 | -€130,850 | -45.6% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €285,007 | €154,157 | -€130,850 | -45.9% |
| Amounts payable | 17/49 | €465,428 | €1,095,654 | +€630,226 | +135% |
| Amounts payable after more than one year | 17 | €240,000 | €758,701 | +€518,701 | +216% |
| Financial debts | 170/4 | €240,000 | €758,701 | +€518,701 | +216% |
| Amounts payable within one year | 42/48 | €225,428 | €336,952 | +€111,524 | +49.5% |
| Current portion of amounts payable after more than one year | 42 | €10,255 | - | -€10,255 | |
| Financial debts | 43 | €2,975 | - | -€2,975 | |
| Credit institutions | 430/8 | €2,975 | - | -€2,975 | |
| Trade debts | 44 | €1,002 | €10,593 | +€9,591 | +957% |
| Suppliers | 440/4 | €1,002 | €10,593 | +€9,591 | +957% |
| Advances received on contracts in progress | 46 | €130,950 | €167,044 | +€36,094 | +27.6% |
| Taxes, remuneration and social security | 45 | €10,094 | €5,639 | -€4,455 | -44.1% |
| Taxes | 450/3 | €10,094 | €5,639 | -€4,455 | -44.1% |
| Other amounts payable | 47/48 | €70,153 | €153,676 | +€83,523 | +119% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,038 | €64,026 | +€37,989 | +146% |
| Other operating charges | 640/8 | €4,897 | €7,587 | +€2,690 | +54.9% |
| Gross operating margin | 9900 | €37,347 | €81,384 | +€44,038 | +118% |
| Operating profit (loss) | 9901 | €6,412 | €9,771 | +€3,359 | +52.4% |
| Financial income | 75/76B | €4,559 | €3,452 | -€1,107 | -24.3% |
| Recurring financial income | 75 | €4,559 | €3,452 | -€1,107 | -24.3% |
| Financial charges | 65/66B | €15,769 | €25,878 | +€10,110 | +64.1% |
| Recurring financial charges | 65 | €15,769 | €25,878 | +€10,110 | +64.1% |
| Profit (loss) for the period before taxes | 9903 | -€4,798 | -€12,656 | -€7,858 | -164% |
| Income taxes | 67/77 | - | €194 | +€194 | |
| Profit (loss) for the period | 9904 | -€4,798 | -€12,850 | -€8,052 | -168% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,798 | -€12,850 | -€8,052 | -168% |
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 16 October 2026 via checked.be.