JOHAN VLAMINCKX: 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.
JOHAN VLAMINCKX
Largest movements
- Cash -€393,824
down €393,824 (-89.0%), from €442,459 to €48,635
mainly Contributions, distributions and other (-€375,000) and Investment in fixed assets (net) (-€372,329)
- Tangible fixed assets +€260,889
up €260,889 (+20.7%), from €1.3m to €1.5m
of which Land and buildings: +€288,470
- Current investments +€128,946
up €128,946 (+39.2%), from €328,959 to €457,904
- Receivables within one year +€22,000
new in 2025: €22,000
- Reserves -€235,000
down €235,000 (-22.5%), from €1.0m to €808,000
- Other debts +€169,713
up €169,713 (+81.1%), from €209,343 to €379,055
- Short-term financial debts +€166,840
new in 2025: €166,840
of which Other loans: +€100,000
- Tax, wage and social debts -€91,469
down €91,469 (-75.8%), from €120,739 to €29,270
- Depreciation +€63,068
up €63,068 (+130.4%), from €48,372 to €111,440
- Gross operating margin -€54,127
down €54,127 (-14.7%), from €368,395 to €314,268
- Taxes -€41,475
down €41,475 (-39.2%), from €105,824 to €64,349
- Financial income -€5,810
down €5,810 (-37.3%), from €15,574 to €9,764
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 | €2,032,756 | €2,047,266 | +€14,510 | +0.7% |
| Fixed assets | 21/28 | €1,257,838 | €1,518,726 | +€260,889 | +20.7% |
| Tangible fixed assets | 22/27 | €1,257,408 | €1,518,296 | +€260,889 | +20.7% |
| Land and buildings | 22 | €781,280 | €1,069,749 | +€288,470 | +36.9% |
| Plant, machinery and equipment | 23 | €1,200 | €600 | -€600 | -50.0% |
| Furniture and vehicles | 24 | €2,623 | €5,962 | +€3,339 | +127.3% |
| Other tangible fixed assets | 26 | €472,305 | €441,985 | -€30,320 | -6.4% |
| Financial fixed assets | 28 | €430 | €430 | = | 0.0% |
| Current assets | 29/58 | €774,918 | €528,540 | -€246,379 | -31.8% |
| Amounts receivable within one year | 40/41 | - | €22,000 | +€22,000 | |
| Other amounts receivable | 41 | - | €22,000 | +€22,000 | |
| Current investments | 50/53 | €328,959 | €457,904 | +€128,946 | +39.2% |
| Cash at bank and in hand | 54/58 | €442,459 | €48,635 | -€393,824 | -89.0% |
| Deferred charges and accrued income | 490/1 | €3,500 | - | -€3,500 | |
| Total equity and liabilities | 10/49 | €2,032,756 | €2,047,266 | +€14,510 | +0.7% |
| Equity | 10/15 | €1,633,231 | €1,402,666 | -€230,564 | -14.1% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €1,043,000 | €808,000 | -€235,000 | -22.5% |
| Distributable reserves | 133 | €1,043,000 | €808,000 | -€235,000 | -22.5% |
| Profit (loss) carried forward | 14 | €560,231 | €564,666 | +€4,436 | +0.8% |
| Provisions and deferred taxes | 16 | €63,607 | €63,607 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €63,607 | €63,607 | = | 0.0% |
| Pensions and similar obligations | 160 | €63,607 | €63,607 | = | 0.0% |
| Amounts payable | 17/49 | €335,918 | €580,992 | +€245,074 | +73.0% |
| Amounts payable within one year | 42/48 | €335,918 | €580,992 | +€245,074 | +73.0% |
| Financial debts | 43 | - | €166,840 | +€166,840 | |
| Credit institutions | 430/8 | - | €66,840 | +€66,840 | |
| Other loans | 439 | - | €100,000 | +€100,000 | |
| Trade debts | 44 | €5,836 | €5,827 | -€9 | -0.2% |
| Suppliers | 440/4 | €5,836 | €5,827 | -€9 | -0.2% |
| Taxes, remuneration and social security | 45 | €120,739 | €29,270 | -€91,469 | -75.8% |
| Taxes | 450/3 | €120,739 | €29,270 | -€91,469 | -75.8% |
| Other amounts payable | 47/48 | €209,343 | €379,055 | +€169,713 | +81.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,372 | €111,440 | +€63,068 | +130.4% |
| Other operating charges | 640/8 | €1,608 | €3,240 | +€1,631 | +101.5% |
| Gross operating margin | 9900 | €368,395 | €314,268 | -€54,127 | -14.7% |
| Operating profit (loss) | 9901 | €318,415 | €199,588 | -€118,827 | -37.3% |
| Financial income | 75/76B | €15,574 | €9,764 | -€5,810 | -37.3% |
| Recurring financial income | 75 | €15,574 | €9,764 | -€5,810 | -37.3% |
| Financial charges | 65/66B | €178 | €568 | +€390 | +219.3% |
| Recurring financial charges | 65 | €178 | €568 | +€390 | +219.3% |
| Profit (loss) for the period before taxes | 9903 | €333,812 | €208,785 | -€125,027 | -37.5% |
| Income taxes | 67/77 | €105,824 | €64,349 | -€41,475 | -39.2% |
| Profit (loss) for the period | 9904 | €227,988 | €144,436 | -€83,552 | -36.6% |
| Profit (loss) for the period to be appropriated | 9905 | €227,988 | €144,436 | -€83,552 | -36.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 April 2024 and 30 April 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.