Guy VAN DER VEKEN: 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.
Guy VAN DER VEKEN
Largest movements
- Tangible fixed assets +€29,593
up €29,593 (+80.2%), from €36,907 to €66,500
- Cash -€20,587
down €20,587 (-28.9%), from €71,209 to €50,622
mainly Other debts (-€52,993) and Investment in fixed assets (net) (-€39,774)
- Deferred charges and accrued income +€2,230
up €2,230 (+57.6%), from €3,872 to €6,102
- Other debts -€52,993
down €52,993 (-83.4%), from €63,539 to €10,546
- Debts after one year +€28,868
new in 2025: €28,868
- Profit (loss) carried forward +€25,966
up €25,966 (+48.0%), from €54,056 to €80,022
- Current portion of long-term debt +€7,592
new in 2025: €7,592
- Tax, wage and social debts +€3,751
up €3,751 (+109%), from €3,456 to €7,207
- Gross operating margin -€14,897
down €14,897 (-20.5%), from €72,506 to €57,609
- Depreciation -€5,643
down €5,643 (-35.7%), from €15,824 to €10,181
- Other operating charges +€2,355
up €2,355 (+167%), from €1,407 to €3,763
- Financial charges +€795
up €795 (+1,593%), from €50 to €844
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 | €127,427 | €139,744 | +€12,316 | +9.7% |
| Fixed assets | 21/28 | €36,907 | €66,500 | +€29,593 | +80.2% |
| Tangible fixed assets | 22/27 | €36,907 | €66,500 | +€29,593 | +80.2% |
| Furniture and vehicles | 24 | €36,907 | €66,500 | +€29,593 | +80.2% |
| Current assets | 29/58 | €90,520 | €73,244 | -€17,276 | -19.1% |
| Amounts receivable within one year | 40/41 | €15,439 | €16,520 | +€1,081 | +7.0% |
| Trade receivables | 40 | €13,969 | €14,520 | +€551 | +3.9% |
| Other amounts receivable | 41 | €1,470 | €2,000 | +€530 | +36.1% |
| Cash at bank and in hand | 54/58 | €71,209 | €50,622 | -€20,587 | -28.9% |
| Deferred charges and accrued income | 490/1 | €3,872 | €6,102 | +€2,230 | +57.6% |
| Total equity and liabilities | 10/49 | €127,427 | €139,744 | +€12,316 | +9.7% |
| Equity | 10/15 | €59,056 | €85,022 | +€25,966 | +44.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €54,056 | €80,022 | +€25,966 | +48.0% |
| Amounts payable | 17/49 | €68,372 | €54,722 | -€13,650 | -20.0% |
| Amounts payable after more than one year | 17 | - | €28,868 | +€28,868 | |
| Financial debts | 170/4 | - | €28,868 | +€28,868 | |
| Amounts payable within one year | 42/48 | €68,372 | €25,854 | -€42,517 | -62.2% |
| Current portion of amounts payable after more than one year | 42 | - | €7,592 | +€7,592 | |
| Trade debts | 44 | €1,377 | €509 | -€867 | -63.0% |
| Suppliers | 440/4 | €1,377 | €509 | -€867 | -63.0% |
| Taxes, remuneration and social security | 45 | €3,456 | €7,207 | +€3,751 | +109% |
| Taxes | 450/3 | €3,456 | €7,207 | +€3,751 | +109% |
| Other amounts payable | 47/48 | €63,539 | €10,546 | -€52,993 | -83.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,824 | €10,181 | -€5,643 | -35.7% |
| Other operating charges | 640/8 | €1,407 | €3,763 | +€2,355 | +167% |
| Non-recurring operating charges | 66A | - | €3,861 | +€3,861 | |
| Gross operating margin | 9900 | €72,506 | €57,609 | -€14,897 | -20.5% |
| Operating profit (loss) | 9901 | €55,275 | €39,805 | -€15,470 | -28.0% |
| Financial income | 75/76B | €29 | €1 | -€28 | -96.7% |
| Recurring financial income | 75 | €29 | €1 | -€28 | -96.7% |
| Financial charges | 65/66B | €50 | €844 | +€795 | +1,593% |
| Recurring financial charges | 65 | €50 | €844 | +€795 | +1,593% |
| Profit (loss) for the period before taxes | 9903 | €55,254 | €38,961 | -€16,293 | -29.5% |
| Income taxes | 67/77 | €12,528 | €12,995 | +€467 | +3.7% |
| Profit (loss) for the period | 9904 | €42,726 | €25,966 | -€16,760 | -39.2% |
| Profit (loss) for the period to be appropriated | 9905 | €42,726 | €25,966 | -€16,760 | -39.2% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.