R. VANDEBEEK: what changed
R. VANDEBEEK
Largest movements
- Cash +€176,311
up €176,311 (+15.1%), from €1.2m to €1.3m
mainly Net result for the year (+€182,784) and Current portion of long-term debt (+€16,823)
- Tangible fixed assets +€23,624
up €23,624 (+53.5%), from €44,160 to €67,784
of which Furniture and vehicles: +€24,511
- Reserves +€182,784
up €182,784 (+15.4%), from €1.2m to €1.4m
of which Distributable reserves: +€182,784
- Current portion of long-term debt +€16,823
new in 2025: €16,823
- Taxes -€16,420
down €16,420 (-20.8%), from €79,118 to €62,699
- Financial income -€7,332
down €7,332 (-26.2%), from €27,938 to €20,607
- Depreciation +€4,888
up €4,888 (+72.6%), from €6,735 to €11,623
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,224,829 | €1,419,079 | +€194,250 | +15.9% |
| Fixed assets | 21/28 | €44,160 | €67,784 | +€23,624 | +53.5% |
| Tangible fixed assets | 22/27 | €44,160 | €67,784 | +€23,624 | +53.5% |
| Plant, machinery and equipment | 23 | €9,276 | €11,767 | +€2,491 | +26.9% |
| Furniture and vehicles | 24 | €10,387 | €34,898 | +€24,511 | +236% |
| Other tangible fixed assets | 26 | €24,497 | €21,120 | -€3,377 | -13.8% |
| Current assets | 29/58 | €1,180,669 | €1,351,295 | +€170,626 | +14.5% |
| Amounts receivable within one year | 40/41 | - | €6,503 | +€6,503 | |
| Other amounts receivable | 41 | - | €6,503 | +€6,503 | |
| Cash at bank and in hand | 54/58 | €1,167,647 | €1,343,958 | +€176,311 | +15.1% |
| Deferred charges and accrued income | 490/1 | €13,022 | €833 | -€12,189 | -93.6% |
| Total equity and liabilities | 10/49 | €1,224,829 | €1,419,079 | +€194,250 | +15.9% |
| Equity | 10/15 | €1,196,574 | €1,379,358 | +€182,784 | +15.3% |
| Contributions | 10/11 | €6,700 | €6,700 | = | 0.0% |
| Reserves | 13 | €1,189,874 | €1,372,658 | +€182,784 | +15.4% |
| Tax-exempt reserves | 132 | €35,176 | €35,176 | = | 0.0% |
| Distributable reserves | 133 | €1,154,698 | €1,337,482 | +€182,784 | +15.8% |
| Amounts payable | 17/49 | €28,255 | €39,721 | +€11,466 | +40.6% |
| Amounts payable within one year | 42/48 | €28,255 | €39,721 | +€11,466 | +40.6% |
| Current portion of amounts payable after more than one year | 42 | - | €16,823 | +€16,823 | |
| Trade debts | 44 | €15,752 | €20,848 | +€5,096 | +32.3% |
| Suppliers | 440/4 | €15,752 | €20,848 | +€5,096 | +32.3% |
| Taxes, remuneration and social security | 45 | €10,738 | - | -€10,738 | |
| Taxes | 450/3 | €10,738 | - | -€10,738 | |
| Other amounts payable | 47/48 | €1,765 | €2,051 | +€285 | +16.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,735 | €11,623 | +€4,888 | +72.6% |
| Other operating charges | 640/8 | €1,030 | €1,060 | +€31 | +3.0% |
| Gross operating margin | 9900 | €237,799 | €238,383 | +€584 | +0.2% |
| Operating profit (loss) | 9901 | €230,035 | €225,699 | -€4,336 | -1.9% |
| Financial income | 75/76B | €27,938 | €20,607 | -€7,332 | -26.2% |
| Recurring financial income | 75 | €27,938 | €20,607 | -€7,332 | -26.2% |
| Financial charges | 65/66B | €662 | €823 | +€161 | +24.3% |
| Recurring financial charges | 65 | €662 | €823 | +€161 | +24.3% |
| Profit (loss) for the period before taxes | 9903 | €257,311 | €245,483 | -€11,828 | -4.6% |
| Income taxes | 67/77 | €79,118 | €62,699 | -€16,420 | -20.8% |
| Profit (loss) for the period | 9904 | €178,193 | €182,784 | +€4,591 | +2.6% |
| Profit (loss) for the period to be appropriated | 9905 | €178,193 | €182,784 | +€4,591 | +2.6% |
Next steps
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 5 November 2026 via checked.be.