R. Vaesen: what changed
What changed
R. Vaesen
NACE 71.121, Engineering and related technical consultancy, excluding land surveyors
filed annual accounts (NBB)
Net result for the year
€43,797
2024 · €47,333-€3,537
Equity
€110,357
2024 · €78,968+€31,389
Cash
€80,074
2024 · €61,932+€18,141
Balance sheet total
€150,817
2024 · €136,760+€14,058
Largest movements
Assets
- Cash +€18,141
up €18,141 (+29.3%), from €61,932 to €80,074
mainly Net result for the year (+€43,797) and Depreciation (+€16,486)
- Tangible fixed assets -€14,892
down €14,892 (-38.6%), from €38,556 to €23,665
- Current investments +€12,164
up €12,164 (+72.4%), from €16,809 to €28,973
Equity and liabilities
- Profit (loss) carried forward +€43,797
new in 2025: €43,797
- Debts after one year -€13,742
down €13,742 (-48.8%), from €28,163 to €14,420
- Reserves -€12,408
down €12,408 (-17.1%), from €72,768 to €60,361
- Tax, wage and social debts -€5,139
down €5,139 (-33.4%), from €15,368 to €10,229
Income statement
- Taxes +€5,778
up €5,778 (+55.1%), from €10,492 to €16,271
- Gross operating margin +€900
up €900 (+1.2%), from €77,513 to €78,413
- Financial income +€825
up €825 (+155%), from €532 to €1,357
- Financial charges -€805
down €805 (-25.0%), from €3,222 to €2,417
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€47,333
Gross operating margin
+€900
Depreciation
-€434
Other operating charges
+€146
Financial income
+€825
Financial charges
+€805
Taxes
-€5,778
Result 2025
€43,797
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€57,404
Investment
-€13,758
Financing
-€25,504
Cash 2024
€61,932
From operations (derived)
+€57,404
Net result for the year
+€43,797
Depreciation
+€16,486
Receivables within one year
+€1,448
Deferred charges and accrued income
-€91
Trade debts
+€904
Tax, wage and social debts
-€5,139
Investment (derived)
-€13,758
Investment in fixed assets (net)
-€1,594
Current investments
-€12,164
Financing
-€25,504
Debts after one year
-€13,742
Current portion of long-term debt
+€646
Contributions, distributions and other
-€12,408
Cash 2025
€80,074
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €136,760 | €150,817 | +€14,058 | +10.3% |
| Fixed assets | 21/28 | €38,556 | €23,665 | -€14,892 | -38.6% |
| Tangible fixed assets | 22/27 | €38,556 | €23,665 | -€14,892 | -38.6% |
| Furniture and vehicles | 24 | €38,556 | €23,665 | -€14,892 | -38.6% |
| Current assets | 29/58 | €98,203 | €127,153 | +€28,949 | +29.5% |
| Amounts receivable within one year | 40/41 | €18,794 | €17,346 | -€1,448 | -7.7% |
| Trade receivables | 40 | €13,967 | €15,771 | +€1,804 | +12.9% |
| Other amounts receivable | 41 | €4,826 | €1,575 | -€3,252 | -67.4% |
| Current investments | 50/53 | €16,809 | €28,973 | +€12,164 | +72.4% |
| Cash at bank and in hand | 54/58 | €61,932 | €80,074 | +€18,141 | +29.3% |
| Deferred charges and accrued income | 490/1 | €668 | €760 | +€91 | +13.6% |
| Total equity and liabilities | 10/49 | €136,760 | €150,817 | +€14,058 | +10.3% |
| Equity | 10/15 | €78,968 | €110,357 | +€31,389 | +39.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €72,768 | €60,361 | -€12,408 | -17.1% |
| Distributable reserves | 133 | €72,768 | €60,361 | -€12,408 | -17.1% |
| Profit (loss) carried forward | 14 | - | €43,797 | +€43,797 | |
| Amounts payable | 17/49 | €57,791 | €40,460 | -€17,331 | -30.0% |
| Amounts payable after more than one year | 17 | €28,163 | €14,420 | -€13,742 | -48.8% |
| Financial debts | 170/4 | €28,163 | €14,420 | -€13,742 | -48.8% |
| Amounts payable within one year | 42/48 | €29,629 | €26,040 | -€3,589 | -12.1% |
| Current portion of amounts payable after more than one year | 42 | €13,096 | €13,742 | +€646 | +4.9% |
| Trade debts | 44 | €1,164 | €2,068 | +€904 | +77.6% |
| Suppliers | 440/4 | €1,164 | €2,068 | +€904 | +77.6% |
| Taxes, remuneration and social security | 45 | €15,368 | €10,229 | -€5,139 | -33.4% |
| Taxes | 450/3 | €15,368 | €10,229 | -€5,139 | -33.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,052 | €16,486 | +€434 | +2.7% |
| Other operating charges | 640/8 | €946 | €800 | -€146 | -15.4% |
| Gross operating margin | 9900 | €77,513 | €78,413 | +€900 | +1.2% |
| Operating profit (loss) | 9901 | €60,515 | €61,127 | +€612 | +1.0% |
| Financial income | 75/76B | €532 | €1,357 | +€825 | +155% |
| Recurring financial income | 75 | €532 | €1,357 | +€825 | +155% |
| Financial charges | 65/66B | €3,222 | €2,417 | -€805 | -25.0% |
| Recurring financial charges | 65 | €3,222 | €2,417 | -€805 | -25.0% |
| Profit (loss) for the period before taxes | 9903 | €57,826 | €60,067 | +€2,241 | +3.9% |
| Income taxes | 67/77 | €10,492 | €16,271 | +€5,778 | +55.1% |
| Profit (loss) for the period | 9904 | €47,333 | €43,797 | -€3,537 | -7.5% |
| Profit (loss) for the period to be appropriated | 9905 | €47,333 | €43,797 | -€3,537 | -7.5% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.