'T VIERDAK: what changed
Two fiscal 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.
'T VIERDAK
Largest movements
- Receivables within one year +€43,004
up €43,004 (+61.7%), from €69,691 to €112,694
of which Trade receivables: +€30,667
- Receivables after one year -€29,119
down €29,119 (-17.8%), from €163,656 to €134,537
- Cash -€15,064
down €15,064 (-31.8%), from €47,301 to €32,237
mainly Receivables within one year (-€43,004) and Contributions, distributions and other (-€35,383)
- Tangible fixed assets -€8,467
down €8,467 (-6.7%), from €126,834 to €118,367
of which Land and buildings: -€8,375
- Debts after one year -€9,805
down €9,805 (-12.8%), from €76,800 to €66,995
- Reserves -€8,522
down €8,522 (-2.0%), from €419,621 to €411,099
of which Distributable reserves: -€8,522
- Other debts +€8,373
up €8,373 (+12.9%), from €64,760 to €73,133
- Financial income -€23,849
down €23,849 (-71.0%), from €33,578 to €9,729
- Financial charges -€18,893
down €18,893 (-69.9%), from €27,042 to €8,149
- Taxes -€9,424
down €9,424 (-76.7%), from €12,281 to €2,857
- Gross operating margin -€4,171
down €4,171 (-9.4%), from €44,521 to €40,349
- Depreciation +€530
up €530 (+6.3%), from €8,458 to €8,987
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.
Cash bridge derived
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 | €693,685 | €684,004 | -€9,681 | -1.4% |
| Fixed assets | 21/28 | €409,631 | €401,164 | -€8,467 | -2.1% |
| Tangible fixed assets | 22/27 | €126,834 | €118,367 | -€8,467 | -6.7% |
| Land and buildings | 22 | €125,465 | €117,090 | -€8,375 | -6.7% |
| Furniture and vehicles | 24 | €1,369 | €1,277 | -€92 | -6.7% |
| Financial fixed assets | 28 | €282,797 | €282,797 | = | 0.0% |
| Current assets | 29/58 | €284,054 | €282,841 | -€1,213 | -0.4% |
| Amounts receivable after more than one year | 29 | €163,656 | €134,537 | -€29,119 | -17.8% |
| Other amounts receivable | 291 | €163,656 | €134,537 | -€29,119 | -17.8% |
| Amounts receivable within one year | 40/41 | €69,691 | €112,694 | +€43,004 | +61.7% |
| Trade receivables | 40 | €49,640 | €80,307 | +€30,667 | +61.8% |
| Other amounts receivable | 41 | €20,051 | €32,387 | +€12,336 | +61.5% |
| Cash at bank and in hand | 54/58 | €47,301 | €32,237 | -€15,064 | -31.8% |
| Deferred charges and accrued income | 490/1 | €3,406 | €3,373 | -€33 | -1.0% |
| Total equity and liabilities | 10/49 | €693,685 | €684,004 | -€9,681 | -1.4% |
| Equity | 10/15 | €481,121 | €472,599 | -€8,522 | -1.8% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €419,621 | €411,099 | -€8,522 | -2.0% |
| Non-distributable reserves | 130/1 | €15,376 | €15,376 | = | 0.0% |
| Legal reserve | 130 | €15,376 | €15,376 | = | 0.0% |
| Distributable reserves | 133 | €404,245 | €395,723 | -€8,522 | -2.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €212,564 | €211,405 | -€1,158 | -0.5% |
| Amounts payable after more than one year | 17 | €76,800 | €66,995 | -€9,805 | -12.8% |
| Financial debts | 170/4 | €76,800 | €66,995 | -€9,805 | -12.8% |
| Amounts payable within one year | 42/48 | €133,009 | €141,290 | +€8,281 | +6.2% |
| Current portion of amounts payable after more than one year | 42 | €20,890 | €21,043 | +€153 | +0.7% |
| Trade debts | 44 | €43,734 | €43,489 | -€245 | -0.6% |
| Suppliers | 440/4 | €43,734 | €43,489 | -€245 | -0.6% |
| Taxes, remuneration and social security | 45 | €3,625 | €3,625 | = | 0.0% |
| Taxes | 450/3 | €3,625 | €3,625 | = | 0.0% |
| Other amounts payable | 47/48 | €64,760 | €73,133 | +€8,373 | +12.9% |
| Accrued charges and deferred income | 492/3 | €2,755 | €3,120 | +€365 | +13.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,458 | €8,987 | +€530 | +6.3% |
| Other operating charges | 640/8 | €3,709 | €3,224 | -€486 | -13.1% |
| Gross operating margin | 9900 | €44,521 | €40,349 | -€4,171 | -9.4% |
| Operating profit (loss) | 9901 | €32,354 | €28,139 | -€4,215 | -13.0% |
| Financial income | 75/76B | €33,578 | €9,729 | -€23,849 | -71.0% |
| Recurring financial income | 75 | €33,578 | €9,729 | -€23,849 | -71.0% |
| Financial charges | 65/66B | €27,042 | €8,149 | -€18,893 | -69.9% |
| Recurring financial charges | 65 | €27,042 | €8,149 | -€18,893 | -69.9% |
| Profit (loss) for the period before taxes | 9903 | €38,890 | €29,718 | -€9,172 | -23.6% |
| Income taxes | 67/77 | €12,281 | €2,857 | -€9,424 | -76.7% |
| Profit (loss) for the period | 9904 | €26,609 | €26,861 | +€252 | +0.9% |
| Profit (loss) for the period to be appropriated | 9905 | €26,609 | €26,861 | +€252 | +0.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.