GINO VANDERVOORT: 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.
GINO VANDERVOORT
Largest movements
- Tangible fixed assets -€26,919
down €26,919 (-11.7%), from €229,777 to €202,858
of which Land and buildings: -€21,119
- Receivables within one year +€7,779
up €7,779 (+6.3%), from €123,407 to €131,186
of which Other amounts receivable: +€17,659
- Trade debts -€39,723
down €39,723 (-89.1%), from €44,573 to €4,850
- Debts after one year +€16,123
new in 2025: €16,123
- Current portion of long-term debt +€7,331
new in 2025: €7,331
- Profit (loss) carried forward -€4,804
down €4,804 (-7.7%), from €62,326 to €57,522
- Gross operating margin +€8,498
up €8,498 (+55.3%), from €15,371 to €23,869
- Depreciation +€4,495
up €4,495 (+18.5%), from €24,231 to €28,726
- Financial income +€1,379
up €1,379 (+29.6%), from €4,655 to €6,034
- Financial charges +€584
up €584 (+80.8%), from €723 to €1,307
of which Financial charges: +€401
- Taxes -€328
no longer reported in 2025 (was €328)
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 | €428,753 | €407,601 | -€21,153 | -4.9% |
| Fixed assets | 21/28 | €230,277 | €203,358 | -€26,919 | -11.7% |
| Tangible fixed assets | 22/27 | €229,777 | €202,858 | -€26,919 | -11.7% |
| Land and buildings | 22 | €198,352 | €177,232 | -€21,119 | -10.6% |
| Plant, machinery and equipment | 23 | €1,010 | €719 | -€291 | -28.8% |
| Furniture and vehicles | 24 | €30,416 | €24,907 | -€5,509 | -18.1% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €198,476 | €204,242 | +€5,766 | +2.9% |
| Stocks and contracts in progress | 3 | €55,714 | €55,714 | = | 0.0% |
| Stocks | 30/36 | €55,714 | €55,714 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €123,407 | €131,186 | +€7,779 | +6.3% |
| Trade receivables | 40 | €15,779 | €5,899 | -€9,880 | -62.6% |
| Other amounts receivable | 41 | €107,627 | €125,287 | +€17,659 | +16.4% |
| Cash at bank and in hand | 54/58 | €19,355 | €17,055 | -€2,300 | -11.9% |
| Deferred charges and accrued income | 490/1 | - | €287 | +€287 | |
| Total equity and liabilities | 10/49 | €428,753 | €407,601 | -€21,153 | -4.9% |
| Equity | 10/15 | €383,853 | €379,048 | -€4,804 | -1.3% |
| Contributions | 10/11 | €11,200 | €11,200 | = | 0.0% |
| Reserves | 13 | €310,326 | €310,326 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €308,467 | €308,467 | = | 0.0% |
| Profit (loss) carried forward | 14 | €62,326 | €57,522 | -€4,804 | -7.7% |
| Amounts payable | 17/49 | €44,901 | €28,552 | -€16,348 | -36.4% |
| Amounts payable after more than one year | 17 | - | €16,123 | +€16,123 | |
| Financial debts | 170/4 | - | €16,123 | +€16,123 | |
| Amounts payable within one year | 42/48 | €44,901 | €12,429 | -€32,472 | -72.3% |
| Current portion of amounts payable after more than one year | 42 | - | €7,331 | +€7,331 | |
| Trade debts | 44 | €44,573 | €4,850 | -€39,723 | -89.1% |
| Suppliers | 440/4 | €44,573 | €4,850 | -€39,723 | -89.1% |
| Taxes, remuneration and social security | 45 | €328 | €248 | -€80 | -24.3% |
| Taxes | 450/3 | €328 | €248 | -€80 | -24.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,231 | €28,726 | +€4,495 | +18.5% |
| Other operating charges | 640/8 | €4,372 | €4,674 | +€302 | +6.9% |
| Gross operating margin | 9900 | €15,371 | €23,869 | +€8,498 | +55.3% |
| Operating profit (loss) | 9901 | -€13,233 | -€9,532 | +€3,701 | +28.0% |
| Financial income | 75/76B | €4,655 | €6,034 | +€1,379 | +29.6% |
| Recurring financial income | 75 | €4,655 | €6,034 | +€1,379 | +29.6% |
| Financial charges | 65/66B | €723 | €1,307 | +€584 | +80.8% |
| Recurring financial charges | 65 | €723 | €1,124 | +€401 | +55.5% |
| Non-recurring financial charges | 66B | - | €183 | +€183 | |
| Profit (loss) for the period before taxes | 9903 | -€9,301 | -€4,804 | +€4,497 | +48.3% |
| Income taxes | 67/77 | €328 | - | -€328 | |
| Profit (loss) for the period | 9904 | -€9,629 | -€4,804 | +€4,825 | +50.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,629 | -€4,804 | +€4,825 | +50.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.