TRS VANCOILLIE: what changed
TRS VANCOILLIE
Largest movements
- Tangible fixed assets -€54,410
down €54,410 (-14.2%), from €381,857 to €327,447
of which Plant, machinery and equipment: -€87,319
- Cash +€47,715
up €47,715 (+112%), from €42,550 to €90,265
mainly Depreciation (+€99,501) and Deferred charges and accrued income (+€37,456)
- Deferred charges and accrued income -€37,456
down €37,456 (-90.1%), from €41,566 to €4,109
- Receivables within one year +€14,356
up €14,356 (+8.4%), from €170,892 to €185,248
of which Trade receivables: +€14,356
- Current portion of long-term debt -€28,464
down €28,464 (-65.7%), from €43,308 to €14,844
- Tax, wage and social debts +€15,530
up €15,530 (+81.2%), from €19,117 to €34,647
- Debts after one year -€14,844
down €14,844 (-100%), from €14,844 to €0
- Reserves -€11,058
down €11,058 (-2.6%), from €426,531 to €415,473
of which Distributable reserves: -€11,058
- Other debts +€6,685
up €6,685 (+3,071%), from €218 to €6,902
- Staff costs -€20,092
down €20,092 (-7.4%), from €272,524 to €252,432
- Depreciation -€20,065
down €20,065 (-16.8%), from €119,566 to €99,501
- Gross operating margin -€12,524
down €12,524 (-3.0%), from €418,323 to €405,799
- Taxes +€9,801
up €9,801 (+189%), from €5,175 to €14,976
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €636,864 | €607,069 | -€29,795 | -4.7% |
| Fixed assets | 21/28 | €381,857 | €327,447 | -€54,410 | -14.2% |
| Tangible fixed assets | 22/27 | €381,857 | €327,447 | -€54,410 | -14.2% |
| Land and buildings | 22 | €109,420 | €147,000 | +€37,581 | +34.3% |
| Plant, machinery and equipment | 23 | €88,608 | €1,289 | -€87,319 | -98.5% |
| Furniture and vehicles | 24 | €183,829 | €179,158 | -€4,671 | -2.5% |
| Current assets | 29/58 | €255,008 | €279,622 | +€24,615 | +9.7% |
| Amounts receivable within one year | 40/41 | €170,892 | €185,248 | +€14,356 | +8.4% |
| Trade receivables | 40 | €160,286 | €174,642 | +€14,356 | +9.0% |
| Other amounts receivable | 41 | €10,606 | €10,606 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €42,550 | €90,265 | +€47,715 | +112% |
| Deferred charges and accrued income | 490/1 | €41,566 | €4,109 | -€37,456 | -90.1% |
| Total equity and liabilities | 10/49 | €636,864 | €607,069 | -€29,795 | -4.7% |
| Equity | 10/15 | €521,674 | €510,616 | -€11,058 | -2.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €426,531 | €415,473 | -€11,058 | -2.6% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €241,907 | €241,907 | = | 0.0% |
| Distributable reserves | 133 | €184,624 | €173,566 | -€11,058 | -6.0% |
| Profit (loss) carried forward | 14 | €88,943 | €88,943 | = | 0.0% |
| Amounts payable | 17/49 | €115,191 | €96,453 | -€18,738 | -16.3% |
| Amounts payable after more than one year | 17 | €14,844 | €0 | -€14,844 | -100% |
| Financial debts | 170/4 | €14,844 | €0 | -€14,844 | -100% |
| Amounts payable within one year | 42/48 | €90,931 | €84,333 | -€6,598 | -7.3% |
| Current portion of amounts payable after more than one year | 42 | €43,308 | €14,844 | -€28,464 | -65.7% |
| Trade debts | 44 | €28,288 | €27,940 | -€348 | -1.2% |
| Suppliers | 440/4 | €28,288 | €27,940 | -€348 | -1.2% |
| Taxes, remuneration and social security | 45 | €19,117 | €34,647 | +€15,530 | +81.2% |
| Taxes | 450/3 | €19,117 | €34,647 | +€15,530 | +81.2% |
| Other amounts payable | 47/48 | €218 | €6,902 | +€6,685 | +3,071% |
| Accrued charges and deferred income | 492/3 | €9,415 | €12,120 | +€2,705 | +28.7% |
| Remuneration, social security and pensions | 62 | €272,524 | €252,432 | -€20,092 | -7.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €119,566 | €99,501 | -€20,065 | -16.8% |
| Other operating charges | 640/8 | €4,032 | €3,469 | -€563 | -14.0% |
| Gross operating margin | 9900 | €418,323 | €405,799 | -€12,524 | -3.0% |
| Operating profit (loss) | 9901 | €22,202 | €50,398 | +€28,196 | +127% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €4,099 | €2,293 | -€1,806 | -44.1% |
| Recurring financial charges | 65 | €4,099 | €2,293 | -€1,806 | -44.1% |
| Profit (loss) for the period before taxes | 9903 | €18,103 | €48,105 | +€30,002 | +166% |
| Income taxes | 67/77 | €5,175 | €14,976 | +€9,801 | +189% |
| Profit (loss) for the period | 9904 | €12,927 | €33,129 | +€20,202 | +156% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €12,927 | €33,129 | +€20,202 | +156% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.