SENTE - VAN BAEL: 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.
SENTE - VAN BAEL
Largest movements
- Current investments +€441,102
up €441,102 (+26.7%), from €1.7m to €2.1m
- Cash -€193,467
down €193,467 (-63.2%), from €306,088 to €112,621
mainly Current investments (-€441,102) and Stocks and contracts (-€70,998)
- Stocks and contracts +€70,998
up €70,998 (+14.4%), from €494,469 to €565,468
- Tangible fixed assets -€51,421
down €51,421 (-8.1%), from €636,790 to €585,369
- Reserves +€244,712
up €244,712 (+9.1%), from €2.7m to €2.9m
of which Distributable reserves: +€244,712
- Tax, wage and social debts +€45,866
up €45,866 (+217%), from €21,096 to €66,961
- Financial income +€51,888
up €51,888 (+150%), from €34,565 to €86,453
of which Financial income: +€49,579
- Gross operating margin -€20,976
down €20,976 (-3.6%), from €577,998 to €557,023
- Staff costs +€15,855
up €15,855 (+16.7%), from €94,690 to €110,545
- Taxes +€6,193
up €6,193 (+4.7%), from €132,211 to €138,404
- Other operating charges +€5,957
up €5,957 (+587%), from €1,015 to €6,972
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 | €3,230,425 | €3,487,291 | +€256,865 | +8.0% |
| Fixed assets | 21/28 | €689,107 | €637,687 | -€51,421 | -7.5% |
| Tangible fixed assets | 22/27 | €636,790 | €585,369 | -€51,421 | -8.1% |
| Land and buildings | 22 | €491,395 | €467,198 | -€24,197 | -4.9% |
| Plant, machinery and equipment | 23 | €92,641 | €86,821 | -€5,819 | -6.3% |
| Furniture and vehicles | 24 | €52,754 | €31,350 | -€21,404 | -40.6% |
| Financial fixed assets | 28 | €52,318 | €52,318 | = | 0.0% |
| Current assets | 29/58 | €2,541,318 | €2,849,604 | +€308,286 | +12.1% |
| Stocks and contracts in progress | 3 | €494,469 | €565,468 | +€70,998 | +14.4% |
| Stocks | 30/36 | €494,469 | €565,468 | +€70,998 | +14.4% |
| Amounts receivable within one year | 40/41 | €85,760 | €75,413 | -€10,348 | -12.1% |
| Trade receivables | 40 | €79,578 | €69,230 | -€10,348 | -13.0% |
| Other amounts receivable | 41 | €6,182 | €6,182 | = | 0.0% |
| Current investments | 50/53 | €1,655,000 | €2,096,102 | +€441,102 | +26.7% |
| Cash at bank and in hand | 54/58 | €306,088 | €112,621 | -€193,467 | -63.2% |
| Total equity and liabilities | 10/49 | €3,230,425 | €3,487,291 | +€256,865 | +8.0% |
| Equity | 10/15 | €2,815,740 | €3,059,959 | +€244,219 | +8.7% |
| Contributions | 10/11 | €124,000 | €124,000 | = | 0.0% |
| Capital | 10 | €124,000 | €124,000 | = | 0.0% |
| Issued capital | 100 | €124,000 | €124,000 | = | 0.0% |
| Reserves | 13 | €2,691,247 | €2,935,959 | +€244,712 | +9.1% |
| Non-distributable reserves | 130/1 | €12,400 | €12,400 | = | 0.0% |
| Legal reserve | 130 | €12,400 | €12,400 | = | 0.0% |
| Tax-exempt reserves | 132 | €37,500 | €37,500 | = | 0.0% |
| Distributable reserves | 133 | €2,641,347 | €2,886,059 | +€244,712 | +9.3% |
| Profit (loss) carried forward | 14 | €493 | - | -€493 | |
| Amounts payable | 17/49 | €414,685 | €427,332 | +€12,647 | +3.0% |
| Amounts payable within one year | 42/48 | €392,614 | €407,993 | +€15,379 | +3.9% |
| Trade debts | 44 | €22,967 | €1,292 | -€21,675 | -94.4% |
| Suppliers | 440/4 | €22,967 | €1,292 | -€21,675 | -94.4% |
| Taxes, remuneration and social security | 45 | €21,096 | €66,961 | +€45,866 | +217% |
| Taxes | 450/3 | €21,096 | €66,961 | +€45,866 | +217% |
| Other amounts payable | 47/48 | €348,552 | €339,740 | -€8,812 | -2.5% |
| Accrued charges and deferred income | 492/3 | €22,071 | €19,339 | -€2,732 | -12.4% |
| Remuneration, social security and pensions | 62 | €94,690 | €110,545 | +€15,855 | +16.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €63,035 | €63,483 | +€448 | +0.7% |
| Other operating charges | 640/8 | €1,015 | €6,972 | +€5,957 | +587% |
| Gross operating margin | 9900 | €577,998 | €557,023 | -€20,976 | -3.6% |
| Operating profit (loss) | 9901 | €419,259 | €376,023 | -€43,236 | -10.3% |
| Financial income | 75/76B | €34,565 | €86,453 | +€51,888 | +150% |
| Recurring financial income | 75 | €33,245 | €82,824 | +€49,579 | +149% |
| Non-recurring financial income | 76B | €1,320 | €3,629 | +€2,310 | +175% |
| Financial charges | 65/66B | €23,365 | €22,853 | -€513 | -2.2% |
| Recurring financial charges | 65 | €23,365 | €22,853 | -€513 | -2.2% |
| Profit (loss) for the period before taxes | 9903 | €430,458 | €439,623 | +€9,165 | +2.1% |
| Income taxes | 67/77 | €132,211 | €138,404 | +€6,193 | +4.7% |
| Profit (loss) for the period | 9904 | €298,247 | €301,219 | +€2,972 | +1.0% |
| Profit (loss) for the period to be appropriated | 9905 | €298,247 | €301,219 | +€2,972 | +1.0% |
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 28 October 2026 via checked.be.