Rinus Van de Velde: 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.
Rinus Van de Velde
Largest movements
- Cash +€1.2m
up €1.2m (+35.5%), from €3.4m to €4.7m
mainly Net result for the year (+€1.9m) and Trade debts (+€387,852)
- Tangible fixed assets +€644,611
up €644,611 (+23.6%), from €2.7m to €3.4m
of which Land and buildings: +€657,321
- Receivables within one year +€329,796
up €329,796 (+64.3%), from €512,792 to €842,589
of which Trade receivables: +€362,842
- Reserves +€1.9m
up €1.9m (+37.0%), from €5.1m to €7.0m
- Trade debts +€387,852
up €387,852 (+319%), from €121,550 to €509,403
- Other debts -€296,302
down €296,302 (-65.0%), from €456,120 to €159,818
- Tax, wage and social debts +€250,465
up €250,465, from €0 to €250,465
- Gross operating margin +€692,190
up €692,190 (+29.4%), from €2.4m to €3.0m
- Taxes +€198,529
up €198,529 (+29.1%), from €682,967 to €881,496
- Other operating charges +€53,693
up €53,693 (+955%), from €5,622 to €59,314
- Depreciation +€39,918
up €39,918 (+31.0%), from €128,793 to €168,711
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 | €6,682,802 | €8,877,588 | +€2.2m | +32.8% |
| Fixed assets | 21/28 | €2,732,528 | €3,377,138 | +€644,611 | +23.6% |
| Tangible fixed assets | 22/27 | €2,732,053 | €3,376,663 | +€644,611 | +23.6% |
| Land and buildings | 22 | €2,634,362 | €3,291,683 | +€657,321 | +25.0% |
| Plant, machinery and equipment | 23 | €53,559 | €49,373 | -€4,186 | -7.8% |
| Furniture and vehicles | 24 | €44,132 | €35,607 | -€8,525 | -19.3% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Financial fixed assets | 28 | €475 | €475 | = | 0.0% |
| Current assets | 29/58 | €3,950,274 | €5,500,449 | +€1.6m | +39.2% |
| Amounts receivable within one year | 40/41 | €512,792 | €842,589 | +€329,796 | +64.3% |
| Trade receivables | 40 | €339,241 | €702,083 | +€362,842 | +107% |
| Other amounts receivable | 41 | €173,552 | €140,505 | -€33,046 | -19.0% |
| Cash at bank and in hand | 54/58 | €3,435,689 | €4,654,772 | +€1.2m | +35.5% |
| Deferred charges and accrued income | 490/1 | €1,793 | €3,089 | +€1,296 | +72.3% |
| Total equity and liabilities | 10/49 | €6,682,802 | €8,877,588 | +€2.2m | +32.8% |
| Equity | 10/15 | €5,273,578 | €7,171,651 | +€1.9m | +36.0% |
| Contributions | 10/11 | €143,600 | €143,600 | = | 0.0% |
| Reserves | 13 | €5,128,845 | €7,027,751 | +€1.9m | +37.0% |
| Distributable reserves | 133 | €5,128,845 | €7,027,751 | +€1.9m | +37.0% |
| Profit (loss) carried forward | 14 | €1,133 | €300 | -€833 | -73.5% |
| Amounts payable | 17/49 | €1,409,224 | €1,705,937 | +€296,713 | +21.1% |
| Amounts payable after more than one year | 17 | €786,251 | €739,451 | -€46,800 | -6.0% |
| Financial debts | 170/4 | €786,251 | €739,451 | -€46,800 | -6.0% |
| Amounts payable within one year | 42/48 | €622,973 | €966,486 | +€343,512 | +55.1% |
| Current portion of amounts payable after more than one year | 42 | €45,303 | €46,800 | +€1,497 | +3.3% |
| Trade debts | 44 | €121,550 | €509,403 | +€387,852 | +319% |
| Suppliers | 440/4 | €121,550 | €509,403 | +€387,852 | +319% |
| Taxes, remuneration and social security | 45 | €0 | €250,465 | +€250,465 | |
| Taxes | 450/3 | €0 | €250,465 | +€250,465 | |
| Other amounts payable | 47/48 | €456,120 | €159,818 | -€296,302 | -65.0% |
| Non-recurring operating income | 76A | - | €103,415 | +€103,415 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €128,793 | €168,711 | +€39,918 | +31.0% |
| Other operating charges | 640/8 | €5,622 | €59,314 | +€53,693 | +955% |
| Non-recurring operating charges | 66A | €327 | €4,245 | +€3,918 | +1,199% |
| Gross operating margin | 9900 | €2,355,295 | €3,047,485 | +€692,190 | +29.4% |
| Operating profit (loss) | 9901 | €2,220,554 | €2,815,215 | +€594,661 | +26.8% |
| Financial income | 75/76B | €5,984 | €23 | -€5,961 | -99.6% |
| Recurring financial income | 75 | €5,984 | €23 | -€5,961 | -99.6% |
| Financial charges | 65/66B | €26,424 | €34,837 | +€8,413 | +31.8% |
| Recurring financial charges | 65 | €26,424 | €34,837 | +€8,413 | +31.8% |
| Profit (loss) for the period before taxes | 9903 | €2,200,114 | €2,780,402 | +€580,288 | +26.4% |
| Income taxes | 67/77 | €682,967 | €881,496 | +€198,529 | +29.1% |
| Profit (loss) for the period | 9904 | €1,517,147 | €1,898,906 | +€381,759 | +25.2% |
| Profit (loss) for the period to be appropriated | 9905 | €1,517,147 | €1,898,906 | +€381,759 | +25.2% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.