GUY VANGAMPELAERE: 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 VANGAMPELAERE
Largest movements
- Cash +€31,520
up €31,520 (+36.7%), from €85,857 to €117,377
mainly Net result for the year (+€28,840) and Depreciation (+€4,362)
- Tangible fixed assets -€4,362
down €4,362 (-42.7%), from €10,214 to €5,852
of which Furniture and vehicles: -€4,142
- Reserves +€28,000
up €28,000 (+13.0%), from €214,950 to €242,950
- Gross operating margin +€10,636
up €10,636 (+27.2%), from €39,079 to €49,715
- Taxes +€4,383
up €4,383 (+34.7%), from €12,637 to €17,020
- Financial income +€3,236
up €3,236 (+80.1%), from €4,039 to €7,275
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 | €328,764 | €360,222 | +€31,459 | +9.6% |
| Fixed assets | 21/28 | €10,239 | €5,877 | -€4,362 | -42.6% |
| Tangible fixed assets | 22/27 | €10,214 | €5,852 | -€4,362 | -42.7% |
| Plant, machinery and equipment | 23 | €357 | €137 | -€220 | -61.7% |
| Furniture and vehicles | 24 | €9,858 | €5,716 | -€4,142 | -42.0% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €318,524 | €354,345 | +€35,821 | +11.2% |
| Amounts receivable within one year | 40/41 | €849 | - | -€849 | |
| Other amounts receivable | 41 | €849 | - | -€849 | |
| Current investments | 50/53 | €225,000 | €228,465 | +€3,465 | +1.5% |
| Cash at bank and in hand | 54/58 | €85,857 | €117,377 | +€31,520 | +36.7% |
| Deferred charges and accrued income | 490/1 | €6,818 | €8,503 | +€1,685 | +24.7% |
| Total equity and liabilities | 10/49 | €328,764 | €360,222 | +€31,459 | +9.6% |
| Equity | 10/15 | €311,109 | €339,949 | +€28,840 | +9.3% |
| Contributions | 10/11 | €6,400 | €6,400 | = | 0.0% |
| Reserves | 13 | €214,950 | €242,950 | +€28,000 | +13.0% |
| Distributable reserves | 133 | €214,950 | €242,950 | +€28,000 | +13.0% |
| Profit (loss) carried forward | 14 | €89,759 | €90,599 | +€840 | +0.9% |
| Amounts payable | 17/49 | €17,655 | €20,274 | +€2,619 | +14.8% |
| Amounts payable within one year | 42/48 | €17,655 | €20,274 | +€2,619 | +14.8% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €129 | €431 | +€301 | +233% |
| Suppliers | 440/4 | €129 | €431 | +€301 | +233% |
| Taxes, remuneration and social security | 45 | €13,154 | €15,012 | +€1,858 | +14.1% |
| Taxes | 450/3 | €13,154 | €15,012 | +€1,858 | +14.1% |
| Other amounts payable | 47/48 | €4,372 | €4,831 | +€459 | +10.5% |
| Non-recurring operating income | 76A | €42,602 | €0 | -€42,602 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,069 | €4,362 | +€293 | +7.2% |
| Other operating charges | 640/8 | €1,168 | €1,404 | +€235 | +20.2% |
| Gross operating margin | 9900 | €39,079 | €49,715 | +€10,636 | +27.2% |
| Operating profit (loss) | 9901 | €33,842 | €43,950 | +€10,107 | +29.9% |
| Financial income | 75/76B | €4,039 | €7,275 | +€3,236 | +80.1% |
| Recurring financial income | 75 | €4,039 | €7,275 | +€3,236 | +80.1% |
| Financial charges | 65/66B | €4,940 | €5,365 | +€425 | +8.6% |
| Recurring financial charges | 65 | €4,940 | €5,365 | +€425 | +8.6% |
| Profit (loss) for the period before taxes | 9903 | €32,941 | €45,860 | +€12,919 | +39.2% |
| Income taxes | 67/77 | €12,637 | €17,020 | +€4,383 | +34.7% |
| Profit (loss) for the period | 9904 | €20,304 | €28,840 | +€8,536 | +42.0% |
| Profit (loss) for the period to be appropriated | 9905 | €20,304 | €28,840 | +€8,536 | +42.0% |
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 28 October 2026 via checked.be.