PASCAL VAN DER VORST & ZN: 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.
What changed
PASCAL VAN DER VORST & ZN
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€143,678
2024 · €1.3m-€1.2m
Equity
€9.0m
2024 · €8.9m+€143,678
Cash
€468,687
2024 · €46,472+€422,215
Balance sheet total
€9.2m
2024 · €14.4m-€5.2m
Largest movements
Assets
- Current investments -€4.3m
down €4.3m (-33.4%), from €12.9m to €8.6m
- Stocks and contracts -€1.3m
down €1.3m (-100%), from €1.3m to €0
- Cash +€422,215
up €422,215 (+909%), from €46,472 to €468,687
mainly Current investments (+€4.3m) and Stocks and contracts (+€1.3m)
Equity and liabilities
- Debts after one year -€4.0m
down €4.0m (-100%), from €4.0m to €0
- Other debts -€1.3m
down €1.3m (-100%), from €1.3m to €0
- Reserves +€143,678
up €143,678 (+1.9%), from €7.5m to €7.6m
Income statement
- Turnover -€15.4m
down €15.4m (-89.9%), from €17.1m to €1.7m
- Goods and materials -€13.2m
down €13.2m (-89.4%), from €14.8m to €1.6m
- Taxes -€563,190
down €563,190 (-89.2%), from €631,573 to €68,383
- Financial charges -€353,985
down €353,985 (-78.8%), from €449,017 to €95,032
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.
Result 2024
€1.3m
Turnover
-€15.4m
Other operating income
-€58,970
Goods and materials
+€13.2m
Services and other goods
+€54,352
Staff costs
+€1,296
Depreciation
-€2,949
Other operating charges
+€46,405
Other operating items
-€1,510
Financial income
+€59,899
Financial charges
+€353,985
Taxes
+€563,190
Result 2025
€143,678
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€156,788
Investment
+€4.3m
Financing
-€4.0m
Cash 2024
€46,472
From operations (derived)
+€156,788
Net result for the year
+€143,678
Depreciation
+€3,653
Stocks and contracts
+€1.3m
Receivables within one year
-€19,927
Smaller working-capital items
-€17,097
Other debts
-€1.3m
Investment (derived)
+€4.3m
Investment in fixed assets (net)
-€4,573
Current investments
+€4.3m
Financing
-€4.0m
Debts after one year
-€4.0m
Cash 2025
€468,687
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €14,365,844 | €9,207,120 | -€5.2m | -35.9% |
| Fixed assets | 21/28 | €5,500 | €6,420 | +€920 | +16.7% |
| Tangible fixed assets | 22/27 | €5,475 | €6,420 | +€945 | +17.3% |
| Plant, machinery and equipment | 23 | €5,475 | €6,420 | +€945 | +17.3% |
| Financial fixed assets | 28 | €25 | €0 | -€25 | -100% |
| Other financial fixed assets | 284/8 | €25 | €0 | -€25 | -100% |
| Amounts receivable and cash guarantees | 285/8 | €25 | €0 | -€25 | -100% |
| Current assets | 29/58 | €14,360,344 | €9,200,700 | -€5.2m | -35.9% |
| Stocks and contracts in progress | 3 | €1,296,481 | €0 | -€1.3m | -100% |
| Stocks | 30/36 | €1,296,481 | €0 | -€1.3m | -100% |
| Property held for sale | 35 | €1,296,481 | €0 | -€1.3m | -100% |
| Amounts receivable within one year | 40/41 | €21,000 | €40,927 | +€19,927 | +94.9% |
| Other amounts receivable | 41 | €21,000 | €40,927 | +€19,927 | +94.9% |
| Current investments | 50/53 | €12,915,000 | €8,600,000 | -€4.3m | -33.4% |
| Other investments | 51/53 | €12,915,000 | €8,600,000 | -€4.3m | -33.4% |
| Cash at bank and in hand | 54/58 | €46,472 | €468,687 | +€422,215 | +909% |
| Deferred charges and accrued income | 490/1 | €81,391 | €91,086 | +€9,695 | +11.9% |
| Total equity and liabilities | 10/49 | €14,365,844 | €9,207,120 | -€5.2m | -35.9% |
| Equity | 10/15 | €8,882,617 | €9,026,294 | +€143,678 | +1.6% |
| Contributions | 10/11 | €1,400,000 | €1,400,000 | = | 0.0% |
| Reserves | 13 | €7,482,617 | €7,626,294 | +€143,678 | +1.9% |
| Distributable reserves | 133 | €7,482,617 | €7,626,294 | +€143,678 | +1.9% |
| Amounts payable | 17/49 | €5,483,228 | €180,826 | -€5.3m | -96.7% |
| Amounts payable after more than one year | 17 | €4,045,000 | €0 | -€4.0m | -100% |
| Other amounts payable | 178/9 | €4,045,000 | €0 | -€4.0m | -100% |
| Amounts payable within one year | 42/48 | €1,438,097 | €180,826 | -€1.3m | -87.4% |
| Trade debts | 44 | €9,864 | €2,594 | -€7,270 | -73.7% |
| Suppliers | 440/4 | €9,864 | €2,594 | -€7,270 | -73.7% |
| Taxes, remuneration and social security | 45 | €178,232 | €178,232 | = | 0.0% |
| Taxes | 450/3 | €178,232 | €178,232 | = | 0.0% |
| Other amounts payable | 47/48 | €1,250,000 | €0 | -€1.3m | -100% |
| Accrued charges and deferred income | 492/3 | €131 | €0 | -€131 | -100% |
| Operating income | 70/76A | €17,215,747 | €1,731,082 | -€15.5m | -89.9% |
| Turnover | 70 | €17,149,247 | €1,725,132 | -€15.4m | -89.9% |
| Other operating income | 74 | €64,920 | €5,949 | -€58,970 | -90.8% |
| Non-recurring operating income | 76A | €1,581 | €0 | -€1,581 | -100% |
| Operating charges | 60/66A | €14,965,449 | €1,661,691 | -€13.3m | -88.9% |
| Goods for resale, raw materials and consumables | 60 | €14,774,928 | €1,570,344 | -€13.2m | -89.4% |
| Purchases | 600/8 | €14,774,928 | €1,570,344 | -€13.2m | -89.4% |
| Services and other goods | 61 | €132,449 | €78,097 | -€54,352 | -41.0% |
| Remuneration, social security and pensions | 62 | €2,699 | €1,403 | -€1,296 | -48.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €704 | €3,653 | +€2,949 | +419% |
| Other operating charges | 640/8 | €53,088 | €6,683 | -€46,405 | -87.4% |
| Non-recurring operating charges | 66A | €1,581 | €1,510 | -€71 | -4.5% |
| Operating profit (loss) | 9901 | €2,250,298 | €69,391 | -€2.2m | -96.9% |
| Financial income | 75/76B | €177,803 | €237,701 | +€59,899 | +33.7% |
| Recurring financial income | 75 | €177,803 | €237,701 | +€59,899 | +33.7% |
| Income from current assets | 751 | €177,802 | €237,701 | +€59,899 | +33.7% |
| Other financial income | 752/9 | €0 | €0 | = | 0.0% |
| Financial charges | 65/66B | €449,017 | €95,032 | -€353,985 | -78.8% |
| Recurring financial charges | 65 | €449,017 | €95,032 | -€353,985 | -78.8% |
| Debt charges | 650 | €448,264 | €94,481 | -€353,783 | -78.9% |
| Other financial charges | 652/9 | €753 | €551 | -€202 | -26.8% |
| Profit (loss) for the period before taxes | 9903 | €1,979,084 | €212,060 | -€1.8m | -89.3% |
| Income taxes | 67/77 | €631,573 | €68,383 | -€563,190 | -89.2% |
| Taxes | 670/3 | €631,573 | €68,383 | -€563,190 | -89.2% |
| Profit (loss) for the period | 9904 | €1,347,511 | €143,678 | -€1.2m | -89.3% |
| Profit (loss) for the period to be appropriated | 9905 | €1,347,511 | €143,678 | -€1.2m | -89.3% |
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 19 October 2026 via checked.be.