Sien Vranken: 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.
Sien Vranken
Largest movements
- Cash +€21,876
up €21,876 (+50.8%), from €43,039 to €64,915
mainly Depreciation (+€29,548) and Net result for the year (+€25,749)
- Receivables within one year -€3,710
down €3,710 (-54.9%), from €6,752 to €3,042
of which Trade receivables: -€4,028
- Reserves +€25,749
up €25,749 (+55.8%), from €46,168 to €71,917
- Debts after one year -€11,194
down €11,194 (-17.8%), from €63,016 to €51,823
- Current portion of long-term debt +€3,604
up €3,604 (+17.5%), from €20,641 to €24,244
- Other debts -€2,460
down €2,460 (-7.9%), from €31,062 to €28,602
- Tax, wage and social debts +€2,397
up €2,397 (+8.2%), from €29,103 to €31,500
of which Taxes: +€4,841
- Gross operating margin +€29,633
up €29,633 (+48.8%), from €60,751 to €90,384
- Staff costs +€14,184
up €14,184 (+977%), from €1,452 to €15,636
- Depreciation +€12,315
up €12,315 (+71.5%), from €17,233 to €29,548
- Taxes +€3,351
up €3,351 (+36.9%), from €9,080 to €12,431
- Other operating charges -€1,083
down €1,083 (-63.2%), from €1,715 to €632
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 | €194,210 | €212,686 | +€18,476 | +9.5% |
| Fixed assets | 21/28 | €123,097 | €123,112 | +€16 | 0.0% |
| Tangible fixed assets | 22/27 | €123,097 | €123,112 | +€16 | 0.0% |
| Plant, machinery and equipment | 23 | €32,711 | €27,407 | -€5,305 | -16.2% |
| Furniture and vehicles | 24 | €8,685 | €6,836 | -€1,849 | -21.3% |
| Leasing and similar rights | 25 | €45,920 | €51,847 | +€5,927 | +12.9% |
| Other tangible fixed assets | 26 | €35,780 | €37,022 | +€1,242 | +3.5% |
| Current assets | 29/58 | €71,113 | €89,573 | +€18,461 | +26.0% |
| Stocks and contracts in progress | 3 | €20,786 | €21,189 | +€404 | +1.9% |
| Stocks | 30/36 | €20,786 | €21,189 | +€404 | +1.9% |
| Amounts receivable within one year | 40/41 | €6,752 | €3,042 | -€3,710 | -54.9% |
| Trade receivables | 40 | €6,752 | €2,724 | -€4,028 | -59.7% |
| Other amounts receivable | 41 | - | €318 | +€318 | |
| Cash at bank and in hand | 54/58 | €43,039 | €64,915 | +€21,876 | +50.8% |
| Deferred charges and accrued income | 490/1 | €537 | €427 | -€110 | -20.5% |
| Total equity and liabilities | 10/49 | €194,210 | €212,686 | +€18,476 | +9.5% |
| Equity | 10/15 | €49,168 | €74,917 | +€25,749 | +52.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €46,168 | €71,917 | +€25,749 | +55.8% |
| Distributable reserves | 133 | €46,168 | €71,917 | +€25,749 | +55.8% |
| Amounts payable | 17/49 | €145,042 | €137,768 | -€7,273 | -5.0% |
| Amounts payable after more than one year | 17 | €63,016 | €51,823 | -€11,194 | -17.8% |
| Financial debts | 170/4 | €63,016 | €51,823 | -€11,194 | -17.8% |
| Amounts payable within one year | 42/48 | €81,082 | €84,831 | +€3,750 | +4.6% |
| Current portion of amounts payable after more than one year | 42 | €20,641 | €24,244 | +€3,604 | +17.5% |
| Trade debts | 44 | €276 | €141 | -€135 | -49.0% |
| Suppliers | 440/4 | €276 | €141 | -€135 | -49.0% |
| Advances received on contracts in progress | 46 | - | €344 | +€344 | |
| Taxes, remuneration and social security | 45 | €29,103 | €31,500 | +€2,397 | +8.2% |
| Taxes | 450/3 | €23,603 | €28,444 | +€4,841 | +20.5% |
| Remuneration and social security | 454/9 | €5,500 | €3,056 | -€2,444 | -44.4% |
| Other amounts payable | 47/48 | €31,062 | €28,602 | -€2,460 | -7.9% |
| Accrued charges and deferred income | 492/3 | €944 | €1,115 | +€171 | +18.1% |
| Remuneration, social security and pensions | 62 | €1,452 | €15,636 | +€14,184 | +977% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,233 | €29,548 | +€12,315 | +71.5% |
| Other operating charges | 640/8 | €1,715 | €632 | -€1,083 | -63.2% |
| Gross operating margin | 9900 | €60,751 | €90,384 | +€29,633 | +48.8% |
| Operating profit (loss) | 9901 | €40,352 | €44,568 | +€4,217 | +10.4% |
| Financial income | 75/76B | €32 | €3 | -€28 | -89.9% |
| Recurring financial income | 75 | €32 | €3 | -€28 | -89.9% |
| Financial charges | 65/66B | €6,166 | €6,391 | +€225 | +3.6% |
| Recurring financial charges | 65 | €6,166 | €6,391 | +€225 | +3.6% |
| Profit (loss) for the period before taxes | 9903 | €34,217 | €38,181 | +€3,963 | +11.6% |
| Income taxes | 67/77 | €9,080 | €12,431 | +€3,351 | +36.9% |
| Profit (loss) for the period | 9904 | €25,137 | €25,749 | +€612 | +2.4% |
| Profit (loss) for the period to be appropriated | 9905 | €25,137 | €25,749 | +€612 | +2.4% |
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 22 October 2026 via checked.be.