VAN BADEN: 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.
VAN BADEN
Largest movements
- Tangible fixed assets -€3,445
down €3,445 (-40.6%), from €8,496 to €5,051
- Trade debts +€4,327
up €4,327 (+32.8%), from €13,192 to €17,518
- Reserves -€3,741
down €3,741 (-5.7%), from €65,908 to €62,167
- Other debts -€2,971
down €2,971 (-9.8%), from €30,451 to €27,479
- Gross operating margin +€7,998
up €7,998, from -€5,368 to €2,630
- Other operating charges +€715
up €715 (+113.1%), from €632 to €1,347
- Financial income -€314
no longer reported in 2025 (was €314)
- Depreciation -€235
down €235 (-6.4%), from €3,681 to €3,445
- Taxes -€197
down €197 (-59.8%), from €329 to €132
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 | €149,284 | €146,439 | -€2,846 | -1.9% |
| Fixed assets | 21/28 | €8,496 | €5,051 | -€3,445 | -40.6% |
| Tangible fixed assets | 22/27 | €8,496 | €5,051 | -€3,445 | -40.6% |
| Land and buildings | 22 | €2,769 | €2,074 | -€695 | -25.1% |
| Plant, machinery and equipment | 23 | €3,893 | €2,970 | -€923 | -23.7% |
| Furniture and vehicles | 24 | €522 | €7 | -€515 | -98.7% |
| Other tangible fixed assets | 26 | €1,312 | €0 | -€1,312 | -100.0% |
| Current assets | 29/58 | €140,788 | €141,388 | +€600 | +0.4% |
| Stocks and contracts in progress | 3 | €754 | €437 | -€317 | -42.0% |
| Stocks | 30/36 | €754 | €437 | -€317 | -42.0% |
| Amounts receivable within one year | 40/41 | €43,040 | €42,161 | -€878 | -2.0% |
| Trade receivables | 40 | €37,112 | €37,509 | +€397 | +1.1% |
| Other amounts receivable | 41 | €5,927 | €4,652 | -€1,275 | -21.5% |
| Cash at bank and in hand | 54/58 | €96,585 | €97,978 | +€1,393 | +1.4% |
| Deferred charges and accrued income | 490/1 | €409 | €811 | +€402 | +98.2% |
| Total equity and liabilities | 10/49 | €149,284 | €146,439 | -€2,846 | -1.9% |
| Equity | 10/15 | €104,388 | €100,647 | -€3,741 | -3.6% |
| Contributions | 10/11 | €38,480 | €38,480 | = | 0.0% |
| Reserves | 13 | €65,908 | €62,167 | -€3,741 | -5.7% |
| Distributable reserves | 133 | €65,908 | €62,167 | -€3,741 | -5.7% |
| Amounts payable | 17/49 | €44,896 | €45,792 | +€895 | +2.0% |
| Amounts payable within one year | 42/48 | €44,896 | €45,792 | +€895 | +2.0% |
| Trade debts | 44 | €13,192 | €17,518 | +€4,327 | +32.8% |
| Suppliers | 440/4 | €13,192 | €17,518 | +€4,327 | +32.8% |
| Taxes, remuneration and social security | 45 | €1,254 | €794 | -€460 | -36.7% |
| Taxes | 450/3 | €859 | €794 | -€64 | -7.5% |
| Remuneration and social security | 454/9 | €395 | - | -€395 | |
| Other amounts payable | 47/48 | €30,451 | €27,479 | -€2,971 | -9.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,681 | €3,445 | -€235 | -6.4% |
| Other operating charges | 640/8 | €632 | €1,347 | +€715 | +113.1% |
| Gross operating margin | 9900 | -€5,368 | €2,630 | +€7,998 | |
| Operating profit (loss) | 9901 | -€9,681 | -€2,162 | +€7,519 | +77.7% |
| Financial income | 75/76B | €314 | - | -€314 | |
| Recurring financial income | 75 | €314 | - | -€314 | |
| Financial charges | 65/66B | €1,280 | €1,447 | +€167 | +13.1% |
| Recurring financial charges | 65 | €1,280 | €1,447 | +€167 | +13.1% |
| Profit (loss) for the period before taxes | 9903 | -€10,647 | -€3,609 | +€7,038 | +66.1% |
| Income taxes | 67/77 | €329 | €132 | -€197 | -59.8% |
| Profit (loss) for the period | 9904 | -€10,975 | -€3,741 | +€7,234 | +65.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€10,975 | -€3,741 | +€7,234 | +65.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.