Sander van de Pol: 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.
Sander van de Pol
Largest movements
- Receivables within one year +€45,854
up €45,854 (+59.4%), from €77,157 to €123,011
of which Trade receivables: +€68,110
- Cash -€31,868
down €31,868 (-37.5%), from €84,938 to €53,070
mainly Contributions, distributions and other (-€58,824) and Receivables within one year (-€45,854)
- Stocks and contracts +€29,800
new in 2025: €29,800
- Tangible fixed assets -€22,708
down €22,708 (-7.2%), from €317,139 to €294,431
- Deferred charges and accrued income -€7,641
down €7,641 (-75.7%), from €10,098 to €2,457
- Other debts +€50,001
new in 2025: €50,001
- Reserves -€26,765
down €26,765 (-14.1%), from €189,882 to €163,117
- Debts after one year -€22,404
down €22,404 (-10.3%), from €217,019 to €194,616
- Trade debts +€11,630
up €11,630 (+27.9%), from €41,625 to €53,255
- Staff costs -€10,525
down €10,525 (-22.2%), from €47,460 to €36,935
- Other operating charges +€8,190
up €8,190 (+581%), from €1,410 to €9,600
- Financial charges -€4,797
down €4,797 (-35.2%), from €13,642 to €8,845
- Gross operating margin -€3,135
down €3,135 (-2.6%), from €122,338 to €119,202
- Depreciation +€2,923
up €2,923 (+13.0%), from €22,525 to €25,448
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 | €489,332 | €502,768 | +€13,437 | +2.7% |
| Fixed assets | 21/28 | €317,139 | €294,431 | -€22,708 | -7.2% |
| Tangible fixed assets | 22/27 | €317,139 | €294,431 | -€22,708 | -7.2% |
| Land and buildings | 22 | €279,465 | €268,515 | -€10,950 | -3.9% |
| Plant, machinery and equipment | 23 | €7,840 | €5,790 | -€2,050 | -26.1% |
| Furniture and vehicles | 24 | €29,834 | €20,126 | -€9,708 | -32.5% |
| Current assets | 29/58 | €172,193 | €208,338 | +€36,145 | +21.0% |
| Stocks and contracts in progress | 3 | - | €29,800 | +€29,800 | |
| Contracts in progress | 37 | - | €29,800 | +€29,800 | |
| Amounts receivable within one year | 40/41 | €77,157 | €123,011 | +€45,854 | +59.4% |
| Trade receivables | 40 | €9,592 | €77,703 | +€68,110 | +710% |
| Other amounts receivable | 41 | €67,564 | €45,308 | -€22,256 | -32.9% |
| Cash at bank and in hand | 54/58 | €84,938 | €53,070 | -€31,868 | -37.5% |
| Deferred charges and accrued income | 490/1 | €10,098 | €2,457 | -€7,641 | -75.7% |
| Total equity and liabilities | 10/49 | €489,332 | €502,768 | +€13,437 | +2.7% |
| Equity | 10/15 | €194,882 | €168,117 | -€26,765 | -13.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €189,882 | €163,117 | -€26,765 | -14.1% |
| Distributable reserves | 133 | €189,882 | €163,117 | -€26,765 | -14.1% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €294,450 | €334,652 | +€40,202 | +13.7% |
| Amounts payable after more than one year | 17 | €217,019 | €194,616 | -€22,404 | -10.3% |
| Financial debts | 170/4 | €217,019 | €194,616 | -€22,404 | -10.3% |
| Amounts payable within one year | 42/48 | €77,431 | €140,036 | +€62,605 | +80.9% |
| Current portion of amounts payable after more than one year | 42 | €22,119 | €22,404 | +€285 | +1.3% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €41,625 | €53,255 | +€11,630 | +27.9% |
| Suppliers | 440/4 | €41,625 | €53,255 | +€11,630 | +27.9% |
| Taxes, remuneration and social security | 45 | €13,687 | €14,376 | +€690 | +5.0% |
| Taxes | 450/3 | €7,459 | €13,316 | +€5,857 | +78.5% |
| Remuneration and social security | 454/9 | €6,228 | €1,061 | -€5,167 | -83.0% |
| Other amounts payable | 47/48 | - | €50,001 | +€50,001 | |
| Non-recurring operating income | 76A | - | €113 | +€113 | |
| Remuneration, social security and pensions | 62 | €47,460 | €36,935 | -€10,525 | -22.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,525 | €25,448 | +€2,923 | +13.0% |
| Other operating charges | 640/8 | €1,410 | €9,600 | +€8,190 | +581% |
| Gross operating margin | 9900 | €122,338 | €119,202 | -€3,135 | -2.6% |
| Operating profit (loss) | 9901 | €50,942 | €47,219 | -€3,723 | -7.3% |
| Financial income | 75/76B | €5,590 | €2,752 | -€2,838 | -50.8% |
| Recurring financial income | 75 | €5,590 | €2,752 | -€2,838 | -50.8% |
| Financial charges | 65/66B | €13,642 | €8,845 | -€4,797 | -35.2% |
| Recurring financial charges | 65 | €13,642 | €8,845 | -€4,797 | -35.2% |
| Profit (loss) for the period before taxes | 9903 | €42,890 | €41,126 | -€1,764 | -4.1% |
| Income taxes | 67/77 | €8,925 | €9,066 | +€141 | +1.6% |
| Profit (loss) for the period | 9904 | €33,964 | €32,059 | -€1,905 | -5.6% |
| Profit (loss) for the period to be appropriated | 9905 | €33,964 | €32,059 | -€1,905 | -5.6% |
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 20 October 2026 via checked.be.