Groep De Vlieger: what changed
What changed
Groep De Vlieger
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€292,144
2025 · €458,350-€166,205
Equity
€4.4m
2025 · €4.9m-€457,856
Cash
€1.0m
2025 · €207,248+€841,732
Balance sheet total
€14.6m
2025 · €11.7m+€2.9m
Largest movements
Assets
- Financial fixed assets +€2.1m
up €2.1m (+18.6%), from €11.3m to €13.4m
- Cash +€841,732
up €841,732 (+406%), from €207,248 to €1.0m
mainly Debts after one year (+€6.8m) and Short-term financial debts (+€700,000)
Equity and liabilities
- Debts after one year +€6.8m
up €6.8m (+445%), from €1.5m to €8.3m
of which Other amounts payable: +€7.0m
- Other debts -€4.2m
down €4.2m (-84.9%), from €5.0m to €750,000
- Short-term financial debts +€700,000
new in 2026: €700,000
- Profit (loss) carried forward -€457,856
down €457,856 (-82.2%), from €557,295 to €99,439
Income statement
- Financial income +€698,828
up €698,828 (+229%), from €304,753 to €1.0m
- Financial charges +€631,634
up €631,634 (+703%), from €89,796 to €721,430
of which Non-recurring financial charges: +€607,999
- Services and other goods +€198,569
up €198,569 (+19.1%), from €1.0m to €1.2m
- Staff costs +€104,848
up €104,848 (+23.6%), from €444,032 to €548,880
- Taxes -€56,337
down €56,337 (-96.0%), from €58,685 to €2,348
of which Taxes: -€56,357
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2025
€458,350
Turnover
+€11,498
Other operating income
+€2,745
Services and other goods
-€198,569
Staff costs
-€104,848
Depreciation
-€564
Other operating charges
+€3
Financial income
+€698,828
Financial charges
-€631,634
Taxes
+€56,337
Result 2026
€292,144
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€3.8m
Investment
-€2.1m
Financing
+€6.7m
Cash 2025
€207,248
From operations (derived)
-€3.8m
Net result for the year
+€292,144
Depreciation
+€2,091
Receivables within one year
+€50,196
Smaller working-capital items
+€306
Trade debts
+€53,438
Other debts
-€4.2m
Investment (derived)
-€2.1m
Investment in fixed assets (net)
-€2.1m
Financing
+€6.7m
Debts after one year
+€6.8m
Current portion of long-term debt
+€5,302
Short-term financial debts
+€700,000
Contributions, distributions and other
-€750,000
Cash 2026
€1.0m
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €11,744,507 | €14,631,206 | +€2.9m | +24.6% |
| Fixed assets | 21/28 | €11,269,952 | €13,362,055 | +€2.1m | +18.6% |
| Tangible fixed assets | 22/27 | €6,939 | €7,042 | +€103 | +1.5% |
| Furniture and vehicles | 24 | €6,939 | €7,042 | +€103 | +1.5% |
| Financial fixed assets | 28 | €11,263,013 | €13,355,013 | +€2.1m | +18.6% |
| Affiliated companies | 280/1 | €11,263,013 | €13,355,013 | +€2.1m | +18.6% |
| Participating interests | 280 | €11,263,013 | €13,355,013 | +€2.1m | +18.6% |
| Current assets | 29/58 | €474,555 | €1,269,151 | +€794,596 | +167% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €266,456 | €216,259 | -€50,196 | -18.8% |
| Trade receivables | 40 | €143,030 | €66,088 | -€76,942 | -53.8% |
| Other amounts receivable | 41 | €123,426 | €150,171 | +€26,745 | +21.7% |
| Cash at bank and in hand | 54/58 | €207,248 | €1,048,980 | +€841,732 | +406% |
| Deferred charges and accrued income | 490/1 | €851 | €3,912 | +€3,061 | +360% |
| Total equity and liabilities | 10/49 | €11,744,507 | €14,631,206 | +€2.9m | +24.6% |
| Equity | 10/15 | €4,887,295 | €4,429,439 | -€457,856 | -9.4% |
| Contributions | 10/11 | €4,330,000 | €4,330,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €557,295 | €99,439 | -€457,856 | -82.2% |
| Amounts payable | 17/49 | €6,857,212 | €10,201,767 | +€3.3m | +48.8% |
| Amounts payable after more than one year | 17 | €1,524,816 | €8,315,764 | +€6.8m | +445% |
| Financial debts | 170/4 | €1,524,816 | €1,357,264 | -€167,552 | -11.0% |
| Subordinated loans | 170 | €500,000 | €500,000 | = | 0.0% |
| Credit institutions | 173 | €1,024,816 | €857,264 | -€167,552 | -16.3% |
| Other amounts payable | 178/9 | - | €6,958,500 | +€7.0m | |
| Amounts payable within one year | 42/48 | €5,299,909 | €1,859,914 | -€3.4m | -64.9% |
| Current portion of amounts payable after more than one year | 42 | €162,250 | €167,552 | +€5,302 | +3.3% |
| Financial debts | 43 | - | €700,000 | +€700,000 | |
| Credit institutions | 430/8 | - | €700,000 | +€700,000 | |
| Trade debts | 44 | €45,941 | €99,379 | +€53,438 | +116% |
| Suppliers | 440/4 | €45,941 | €99,379 | +€53,438 | +116% |
| Taxes, remuneration and social security | 45 | €133,218 | €142,983 | +€9,765 | +7.3% |
| Taxes | 450/3 | €48,781 | €41,366 | -€7,415 | -15.2% |
| Remuneration and social security | 454/9 | €84,437 | €101,617 | +€17,180 | +20.3% |
| Other amounts payable | 47/48 | €4,958,500 | €750,000 | -€4.2m | -84.9% |
| Accrued charges and deferred income | 492/3 | €32,487 | €26,089 | -€6,398 | -19.7% |
| Operating income | 70/76A | €1,788,303 | €1,802,546 | +€14,243 | +0.8% |
| Turnover | 70 | €1,214,427 | €1,225,925 | +€11,498 | +0.9% |
| Other operating income | 74 | €573,876 | €576,621 | +€2,745 | +0.5% |
| Operating charges | 60/66A | €1,486,225 | €1,790,204 | +€303,979 | +20.5% |
| Services and other goods | 61 | €1,039,461 | €1,238,030 | +€198,569 | +19.1% |
| Remuneration, social security and pensions | 62 | €444,032 | €548,880 | +€104,848 | +23.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,526 | €2,091 | +€564 | +37.0% |
| Other operating charges | 640/8 | €1,206 | €1,204 | -€3 | -0.2% |
| Operating profit (loss) | 9901 | €302,078 | €12,342 | -€289,736 | -95.9% |
| Financial income | 75/76B | €304,753 | €1,003,580 | +€698,828 | +229% |
| Recurring financial income | 75 | €304,753 | €1,003,580 | +€698,828 | +229% |
| Income from financial fixed assets | 750 | €300,000 | €1,000,000 | +€700,000 | +233% |
| Income from current assets | 751 | €4,743 | €3,580 | -€1,163 | -24.5% |
| Other financial income | 752/9 | €10 | €0 | -€10 | -99.9% |
| Financial charges | 65/66B | €89,796 | €721,430 | +€631,634 | +703% |
| Recurring financial charges | 65 | €89,796 | €113,431 | +€23,635 | +26.3% |
| Debt charges | 650 | €87,869 | €112,815 | +€24,946 | +28.4% |
| Other financial charges | 652/9 | €1,926 | €616 | -€1,310 | -68.0% |
| Non-recurring financial charges | 66B | - | €607,999 | +€607,999 | |
| Profit (loss) for the period before taxes | 9903 | €517,035 | €294,492 | -€222,543 | -43.0% |
| Income taxes | 67/77 | €58,685 | €2,348 | -€56,337 | -96.0% |
| Taxes | 670/3 | €58,705 | €2,348 | -€56,357 | -96.0% |
| Tax adjustments and reversals of tax provisions | 77 | €20 | €0 | -€20 | -100% |
| Profit (loss) for the period | 9904 | €458,350 | €292,144 | -€166,205 | -36.3% |
| Profit (loss) for the period to be appropriated | 9905 | €458,350 | €292,144 | -€166,205 | -36.3% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.