M.D. VAN BIESEN: 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.
M.D. VAN BIESEN
Largest movements
- Tangible fixed assets -€11,942
down €11,942 (-12.5%), from €95,216 to €83,274
- Cash +€6,732
up €6,732 (+42.8%), from €15,725 to €22,458
mainly Net result for the year (+€14,794) and Depreciation (+€11,942)
- Receivables within one year +€3,224
new in 2025: €3,224
of which Other amounts receivable: +€1,664
- Profit (loss) carried forward +€14,794
up €14,794 (+58.0%), from -€25,486 to -€10,692
- Other debts -€9,190
down €9,190 (-66.4%), from €13,831 to €4,641
- Debts after one year -€7,557
down €7,557 (-11.5%), from €65,815 to €58,259
- Current portion of long-term debt -€4,337
down €4,337 (-36.5%), from €11,894 to €7,557
- Tax, wage and social debts +€3,548
up €3,548 (+14.4%), from €24,630 to €28,178
of which Remuneration and social security: +€1,848
- Gross operating margin +€8,120
up €8,120 (+33.8%), from €24,044 to €32,164
- Depreciation -€2,760
down €2,760 (-18.8%), from €14,702 to €11,942
- Other operating charges -€732
down €732 (-32.6%), from €2,246 to €1,514
- Taxes +€441
up €441 (+19.6%), from €2,254 to €2,695
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 | €112,543 | €110,046 | -€2,497 | -2.2% |
| Fixed assets | 21/28 | €95,216 | €83,274 | -€11,942 | -12.5% |
| Tangible fixed assets | 22/27 | €95,216 | €83,274 | -€11,942 | -12.5% |
| Land and buildings | 22 | €85,500 | €79,800 | -€5,700 | -6.7% |
| Plant, machinery and equipment | 23 | €1,510 | €985 | -€525 | -34.8% |
| Furniture and vehicles | 24 | €8,206 | €2,489 | -€5,717 | -69.7% |
| Current assets | 29/58 | €17,327 | €26,772 | +€9,445 | +54.5% |
| Amounts receivable within one year | 40/41 | - | €3,224 | +€3,224 | |
| Trade receivables | 40 | - | €1,560 | +€1,560 | |
| Other amounts receivable | 41 | - | €1,664 | +€1,664 | |
| Cash at bank and in hand | 54/58 | €15,725 | €22,458 | +€6,732 | +42.8% |
| Deferred charges and accrued income | 490/1 | €1,602 | €1,090 | -€512 | -32.0% |
| Total equity and liabilities | 10/49 | €112,543 | €110,046 | -€2,497 | -2.2% |
| Equity | 10/15 | -€5,026 | €9,768 | +€14,794 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€25,486 | -€10,692 | +€14,794 | +58.0% |
| Amounts payable | 17/49 | €117,569 | €100,278 | -€17,291 | -14.7% |
| Amounts payable after more than one year | 17 | €65,815 | €58,259 | -€7,557 | -11.5% |
| Financial debts | 170/4 | €65,815 | €58,259 | -€7,557 | -11.5% |
| Amounts payable within one year | 42/48 | €51,753 | €42,019 | -€9,734 | -18.8% |
| Current portion of amounts payable after more than one year | 42 | €11,894 | €7,557 | -€4,337 | -36.5% |
| Trade debts | 44 | €1,398 | €1,644 | +€246 | +17.6% |
| Suppliers | 440/4 | €1,398 | €1,644 | +€246 | +17.6% |
| Taxes, remuneration and social security | 45 | €24,630 | €28,178 | +€3,548 | +14.4% |
| Taxes | 450/3 | €1,000 | €2,700 | +€1,700 | +170.0% |
| Remuneration and social security | 454/9 | €23,630 | €25,478 | +€1,848 | +7.8% |
| Other amounts payable | 47/48 | €13,831 | €4,641 | -€9,190 | -66.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,702 | €11,942 | -€2,760 | -18.8% |
| Other operating charges | 640/8 | €2,246 | €1,514 | -€732 | -32.6% |
| Gross operating margin | 9900 | €24,044 | €32,164 | +€8,120 | +33.8% |
| Operating profit (loss) | 9901 | €7,097 | €18,708 | +€11,612 | +163.6% |
| Financial income | 75/76B | €9 | - | -€9 | |
| Recurring financial income | 75 | €9 | - | -€9 | |
| Financial charges | 65/66B | €1,442 | €1,220 | -€222 | -15.4% |
| Recurring financial charges | 65 | €1,442 | €1,220 | -€222 | -15.4% |
| Profit (loss) for the period before taxes | 9903 | €5,664 | €17,488 | +€11,824 | +208.7% |
| Income taxes | 67/77 | €2,254 | €2,695 | +€441 | +19.6% |
| Profit (loss) for the period | 9904 | €3,411 | €14,794 | +€11,383 | +333.7% |
| Profit (loss) for the period to be appropriated | 9905 | €3,411 | €14,794 | +€11,383 | +333.7% |
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 12 October 2026 via checked.be.