VAN AEL-VERMETTEN: 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.
VAN AEL-VERMETTEN
Largest movements
- Cash +€24,821
up €24,821 (+109%), from €22,716 to €47,537
mainly Other debts (+€79,213) and Net result for the year (+€28,635)
- Tangible fixed assets -€23,689
down €23,689 (-29.8%), from €79,523 to €55,834
of which Furniture and vehicles: -€16,604
- Receivables within one year +€15,349
up €15,349 (+163%), from €9,429 to €24,778
of which Trade receivables: +€17,857
- Stocks and contracts +€1,592
up €1,592 (+19.6%), from €8,105 to €9,697
- Other debts +€79,213
up €79,213 (+4,499%), from €1,761 to €80,974
- Reserves -€64,383
down €64,383 (-100%), from €64,383 to €0
- Tax, wage and social debts +€17,394
up €17,394 (+458%), from €3,800 to €21,194
of which Taxes: +€16,484
- Debts after one year -€12,162
down €12,162 (-39.6%), from €30,698 to €18,536
- Gross operating margin +€12,273
up €12,273 (+23.5%), from €52,290 to €64,562
- Taxes +€2,972
up €2,972 (+53.9%), from €5,516 to €8,488
- Depreciation -€2,288
down €2,288 (-8.4%), from €27,134 to €24,846
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 | €120,872 | €138,961 | +€18,088 | +15.0% |
| Fixed assets | 21/28 | €79,523 | €55,834 | -€23,689 | -29.8% |
| Tangible fixed assets | 22/27 | €79,523 | €55,834 | -€23,689 | -29.8% |
| Plant, machinery and equipment | 23 | €12,405 | €8,311 | -€4,094 | -33.0% |
| Furniture and vehicles | 24 | €53,250 | €36,647 | -€16,604 | -31.2% |
| Other tangible fixed assets | 26 | €13,867 | €10,876 | -€2,991 | -21.6% |
| Current assets | 29/58 | €41,350 | €83,127 | +€41,778 | +101% |
| Stocks and contracts in progress | 3 | €8,105 | €9,697 | +€1,592 | +19.6% |
| Stocks | 30/36 | €8,105 | €9,697 | +€1,592 | +19.6% |
| Amounts receivable within one year | 40/41 | €9,429 | €24,778 | +€15,349 | +163% |
| Trade receivables | 40 | - | €17,857 | +€17,857 | |
| Other amounts receivable | 41 | €9,429 | €6,922 | -€2,507 | -26.6% |
| Cash at bank and in hand | 54/58 | €22,716 | €47,537 | +€24,821 | +109% |
| Deferred charges and accrued income | 490/1 | €1,100 | €1,114 | +€15 | +1.4% |
| Total equity and liabilities | 10/49 | €120,872 | €138,961 | +€18,088 | +15.0% |
| Equity | 10/15 | €66,883 | €2,500 | -€64,383 | -96.3% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €64,383 | €0 | -€64,383 | -100% |
| Distributable reserves | 133 | €64,383 | €0 | -€64,383 | -100% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €53,989 | €136,461 | +€82,471 | +153% |
| Amounts payable after more than one year | 17 | €30,698 | €18,536 | -€12,162 | -39.6% |
| Financial debts | 170/4 | €30,698 | €18,536 | -€12,162 | -39.6% |
| Amounts payable within one year | 42/48 | €22,382 | €117,925 | +€95,543 | +427% |
| Current portion of amounts payable after more than one year | 42 | €16,412 | €15,566 | -€845 | -5.2% |
| Trade debts | 44 | €409 | €191 | -€219 | -53.4% |
| Suppliers | 440/4 | €409 | €191 | -€219 | -53.4% |
| Taxes, remuneration and social security | 45 | €3,800 | €21,194 | +€17,394 | +458% |
| Taxes | 450/3 | €1,950 | €18,434 | +€16,484 | +845% |
| Remuneration and social security | 454/9 | €1,850 | €2,760 | +€910 | +49.2% |
| Other amounts payable | 47/48 | €1,761 | €80,974 | +€79,213 | +4,499% |
| Accrued charges and deferred income | 492/3 | €910 | €0 | -€910 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,134 | €24,846 | -€2,288 | -8.4% |
| Other operating charges | 640/8 | €975 | €1,088 | +€113 | +11.6% |
| Gross operating margin | 9900 | €52,290 | €64,562 | +€12,273 | +23.5% |
| Operating profit (loss) | 9901 | €24,181 | €38,628 | +€14,447 | +59.7% |
| Financial income | 75/76B | €1 | €5 | +€4 | +309% |
| Recurring financial income | 75 | €1 | €5 | +€4 | +309% |
| Financial charges | 65/66B | €2,050 | €1,511 | -€539 | -26.3% |
| Recurring financial charges | 65 | €2,050 | €1,511 | -€539 | -26.3% |
| Profit (loss) for the period before taxes | 9903 | €22,132 | €37,123 | +€14,991 | +67.7% |
| Income taxes | 67/77 | €5,516 | €8,488 | +€2,972 | +53.9% |
| Profit (loss) for the period | 9904 | €16,616 | €28,635 | +€12,019 | +72.3% |
| Profit (loss) for the period to be appropriated | 9905 | €16,616 | €28,635 | +€12,019 | +72.3% |
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 31 October 2026 via checked.be.