Vaartdijk 5: 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.
Vaartdijk 5
Largest movements
- Cash +€224,815
up €224,815 (+32.5%), from €691,857 to €916,672
mainly Net result for the year (+€182,240) and Tax, wage and social debts (+€56,442)
- Tangible fixed assets -€24,502
down €24,502 (-1.7%), from €1.5m to €1.4m
- Reserves +€182,240
up €182,240 (+14.4%), from €1.3m to €1.4m
of which Distributable reserves: +€182,240
- Tax, wage and social debts +€56,442
up €56,442 (+55.2%), from €102,163 to €158,605
- Trade debts -€38,413
down €38,413 (-51.8%), from €74,132 to €35,719
- Gross operating margin -€66,029
down €66,029 (-17.6%), from €374,925 to €308,895
- Taxes -€17,703
down €17,703 (-21.1%), from €84,043 to €66,340
- Depreciation -€9,825
down €9,825 (-28.6%), from €34,327 to €24,502
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 | €2,157,698 | €2,358,021 | +€200,323 | +9.3% |
| Fixed assets | 21/28 | €1,465,493 | €1,440,991 | -€24,502 | -1.7% |
| Tangible fixed assets | 22/27 | €1,465,493 | €1,440,991 | -€24,502 | -1.7% |
| Land and buildings | 22 | €1,465,493 | €1,440,991 | -€24,502 | -1.7% |
| Current assets | 29/58 | €692,205 | €917,030 | +€224,825 | +32.5% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €691,857 | €916,672 | +€224,815 | +32.5% |
| Deferred charges and accrued income | 490/1 | €348 | €358 | +€10 | +2.7% |
| Total equity and liabilities | 10/49 | €2,157,698 | €2,358,021 | +€200,323 | +9.3% |
| Equity | 10/15 | €1,329,210 | €1,511,450 | +€182,240 | +13.7% |
| Contributions | 10/11 | €62,400 | €62,400 | = | 0.0% |
| Reserves | 13 | €1,266,810 | €1,449,050 | +€182,240 | +14.4% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €1,266,810 | €1,449,050 | +€182,240 | +14.4% |
| Provisions and deferred taxes | 16 | €650,000 | €650,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €650,000 | €650,000 | = | 0.0% |
| Major repairs and maintenance | 162 | €650,000 | €650,000 | = | 0.0% |
| Amounts payable | 17/49 | €178,488 | €196,571 | +€18,083 | +10.1% |
| Amounts payable within one year | 42/48 | €176,295 | €194,325 | +€18,029 | +10.2% |
| Trade debts | 44 | €74,132 | €35,719 | -€38,413 | -51.8% |
| Suppliers | 440/4 | €74,132 | €35,719 | -€38,413 | -51.8% |
| Taxes, remuneration and social security | 45 | €102,163 | €158,605 | +€56,442 | +55.2% |
| Taxes | 450/3 | €102,163 | €158,605 | +€56,442 | +55.2% |
| Accrued charges and deferred income | 492/3 | €2,193 | €2,246 | +€54 | +2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,327 | €24,502 | -€9,825 | -28.6% |
| Other operating charges | 640/8 | €32,086 | €35,555 | +€3,469 | +10.8% |
| Gross operating margin | 9900 | €374,925 | €308,895 | -€66,029 | -17.6% |
| Operating profit (loss) | 9901 | €308,513 | €248,839 | -€59,673 | -19.3% |
| Financial charges | 65/66B | €98 | €259 | +€161 | +163% |
| Recurring financial charges | 65 | €98 | €259 | +€161 | +163% |
| Profit (loss) for the period before taxes | 9903 | €308,414 | €248,580 | -€59,834 | -19.4% |
| Income taxes | 67/77 | €84,043 | €66,340 | -€17,703 | -21.1% |
| Profit (loss) for the period | 9904 | €224,371 | €182,240 | -€42,131 | -18.8% |
| Profit (loss) for the period to be appropriated | 9905 | €224,371 | €182,240 | -€42,131 | -18.8% |
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.