Nicholas 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.
Nicholas Van der Veken
Largest movements
- Current investments -€225,000
down €225,000 (-57.0%), from €395,000 to €170,000
- Cash +€93,976
up €93,976 (+75.3%), from €124,824 to €218,799
mainly Net result for the year (+€235,718) and Current investments (+€225,000)
- Intangible fixed assets -€70,214
down €70,214 (-19.8%), from €354,149 to €283,935
- Deferred charges and accrued income +€35,198
up €35,198 (+132%), from €26,570 to €61,769
- Reserves -€178,286
down €178,286 (-41.4%), from €430,427 to €252,140
- Other debts +€104,949
up €104,949 (+850%), from €12,349 to €117,297
- Debts after one year -€56,911
down €56,911 (-23.3%), from €244,710 to €187,799
- Tax, wage and social debts -€50,295
down €50,295 (-33.4%), from €150,502 to €100,206
of which Taxes: -€59,357
- Trade debts +€9,868
up €9,868 (+106%), from €9,351 to €19,219
- Staff costs +€79,191
up €79,191 (+69.2%), from €114,478 to €193,669
- Gross operating margin +€52,361
up €52,361 (+10.0%), from €525,437 to €577,797
- Taxes -€7,022
down €7,022 (-8.7%), from €80,411 to €73,389
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 | €906,991 | €740,870 | -€166,121 | -18.3% |
| Fixed assets | 21/28 | €358,900 | €286,389 | -€72,511 | -20.2% |
| Intangible fixed assets | 21 | €354,149 | €283,935 | -€70,214 | -19.8% |
| Tangible fixed assets | 22/27 | €4,750 | €2,454 | -€2,296 | -48.3% |
| Plant, machinery and equipment | 23 | €1,770 | €1,392 | -€378 | -21.3% |
| Furniture and vehicles | 24 | €2,980 | €1,062 | -€1,919 | -64.4% |
| Current assets | 29/58 | €548,091 | €454,481 | -€93,610 | -17.1% |
| Amounts receivable within one year | 40/41 | €1,697 | €3,913 | +€2,216 | +131% |
| Trade receivables | 40 | €1,697 | €1,468 | -€229 | -13.5% |
| Other amounts receivable | 41 | - | €2,445 | +€2,445 | |
| Current investments | 50/53 | €395,000 | €170,000 | -€225,000 | -57.0% |
| Cash at bank and in hand | 54/58 | €124,824 | €218,799 | +€93,976 | +75.3% |
| Deferred charges and accrued income | 490/1 | €26,570 | €61,769 | +€35,198 | +132% |
| Total equity and liabilities | 10/49 | €906,991 | €740,870 | -€166,121 | -18.3% |
| Equity | 10/15 | €432,427 | €254,140 | -€178,286 | -41.2% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €430,427 | €252,140 | -€178,286 | -41.4% |
| Distributable reserves | 133 | €430,427 | €252,140 | -€178,286 | -41.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €474,564 | €486,729 | +€12,165 | +2.6% |
| Amounts payable after more than one year | 17 | €244,710 | €187,799 | -€56,911 | -23.3% |
| Financial debts | 170/4 | €244,710 | €187,799 | -€56,911 | -23.3% |
| Amounts payable within one year | 42/48 | €228,003 | €293,634 | +€65,631 | +28.8% |
| Current portion of amounts payable after more than one year | 42 | €55,801 | €56,911 | +€1,110 | +2.0% |
| Trade debts | 44 | €9,351 | €19,219 | +€9,868 | +106% |
| Suppliers | 440/4 | €9,351 | €19,219 | +€9,868 | +106% |
| Taxes, remuneration and social security | 45 | €150,502 | €100,206 | -€50,295 | -33.4% |
| Taxes | 450/3 | €137,929 | €78,572 | -€59,357 | -43.0% |
| Remuneration and social security | 454/9 | €12,573 | €21,634 | +€9,062 | +72.1% |
| Other amounts payable | 47/48 | €12,349 | €117,297 | +€104,949 | +850% |
| Accrued charges and deferred income | 492/3 | €1,851 | €5,296 | +€3,445 | +186% |
| Remuneration, social security and pensions | 62 | €114,478 | €193,669 | +€79,191 | +69.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €72,251 | €72,511 | +€260 | +0.4% |
| Other operating charges | 640/8 | €2,151 | €1,163 | -€988 | -45.9% |
| Gross operating margin | 9900 | €525,437 | €577,797 | +€52,361 | +10.0% |
| Operating profit (loss) | 9901 | €336,556 | €310,454 | -€26,102 | -7.8% |
| Financial income | 75/76B | €6,127 | €9,477 | +€3,349 | +54.7% |
| Recurring financial income | 75 | €6,127 | €9,477 | +€3,349 | +54.7% |
| Financial charges | 65/66B | €6,580 | €10,824 | +€4,244 | +64.5% |
| Recurring financial charges | 65 | €6,580 | €10,824 | +€4,244 | +64.5% |
| Profit (loss) for the period before taxes | 9903 | €336,104 | €309,107 | -€26,997 | -8.0% |
| Income taxes | 67/77 | €80,411 | €73,389 | -€7,022 | -8.7% |
| Profit (loss) for the period | 9904 | €255,694 | €235,718 | -€19,975 | -7.8% |
| Profit (loss) for the period to be appropriated | 9905 | €255,694 | €235,718 | -€19,975 | -7.8% |
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 24 October 2026 via checked.be.