VAN BALLAERT BEHEER: 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 BALLAERT BEHEER
Largest movements
- Current investments +€720,350
up €720,350 (+279%), from €258,003 to €978,353
- Tangible fixed assets -€483,500
down €483,500 (-15.7%), from €3.1m to €2.6m
- Cash -€60,256
down €60,256 (-52.0%), from €115,890 to €55,634
mainly Current investments (-€720,350) and Debts after one year (-€81,046)
- Reserves +€252,975
up €252,975 (+47.4%), from €533,612 to €786,588
- Debts after one year -€81,046
down €81,046 (-58.8%), from €137,810 to €56,765
of which Financial debts: -€81,046
- Gross operating margin +€366,439
up €366,439 (+251%), from €146,001 to €512,439
- Taxes +€128,066
up €128,066 (+2,611%), from €4,905 to €132,971
- Financial charges -€6,306
down €6,306 (-57.7%), from €10,926 to €4,619
- Financial income -€5,256
down €5,256 (-98.1%), from €5,360 to €104
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 | €3,464,315 | €3,638,438 | +€174,123 | +5.0% |
| Fixed assets | 21/28 | €3,082,665 | €2,599,164 | -€483,500 | -15.7% |
| Tangible fixed assets | 22/27 | €3,082,665 | €2,599,164 | -€483,500 | -15.7% |
| Land and buildings | 22 | €3,082,665 | €2,599,164 | -€483,500 | -15.7% |
| Current assets | 29/58 | €381,650 | €1,039,273 | +€657,623 | +172% |
| Amounts receivable within one year | 40/41 | €1,703 | €0 | -€1,703 | -100% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €1,703 | €0 | -€1,703 | -100% |
| Current investments | 50/53 | €258,003 | €978,353 | +€720,350 | +279% |
| Cash at bank and in hand | 54/58 | €115,890 | €55,634 | -€60,256 | -52.0% |
| Deferred charges and accrued income | 490/1 | €6,054 | €5,286 | -€768 | -12.7% |
| Total equity and liabilities | 10/49 | €3,464,315 | €3,638,438 | +€174,123 | +5.0% |
| Equity | 10/15 | €3,226,812 | €3,479,788 | +€252,975 | +7.8% |
| Contributions | 10/11 | €2,693,200 | €2,693,200 | = | 0.0% |
| Reserves | 13 | €533,612 | €786,588 | +€252,975 | +47.4% |
| Distributable reserves | 133 | €533,612 | €786,588 | +€252,975 | +47.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €237,502 | €158,650 | -€78,852 | -33.2% |
| Amounts payable after more than one year | 17 | €137,810 | €56,765 | -€81,046 | -58.8% |
| Financial debts | 170/4 | €135,160 | €54,115 | -€81,046 | -60.0% |
| Other amounts payable | 178/9 | €2,650 | €2,650 | = | 0.0% |
| Amounts payable within one year | 42/48 | €88,393 | €96,998 | +€8,605 | +9.7% |
| Trade debts | 44 | €1,432 | €3,284 | +€1,851 | +129% |
| Suppliers | 440/4 | €1,432 | €3,284 | +€1,851 | +129% |
| Taxes, remuneration and social security | 45 | €4,602 | €2,942 | -€1,660 | -36.1% |
| Taxes | 450/3 | €4,602 | €2,942 | -€1,660 | -36.1% |
| Other amounts payable | 47/48 | €82,359 | €90,772 | +€8,413 | +10.2% |
| Accrued charges and deferred income | 492/3 | €11,299 | €4,887 | -€6,411 | -56.7% |
| Non-recurring operating income | 76A | - | €372,775 | +€372,775 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,884 | €68,670 | +€785 | +1.2% |
| Other operating charges | 640/8 | €18,597 | €14,940 | -€3,657 | -19.7% |
| Gross operating margin | 9900 | €146,001 | €512,439 | +€366,439 | +251% |
| Operating profit (loss) | 9901 | €59,520 | €428,830 | +€369,310 | +620% |
| Financial income | 75/76B | €5,360 | €104 | -€5,256 | -98.1% |
| Recurring financial income | 75 | €5,360 | €104 | -€5,256 | -98.1% |
| Financial charges | 65/66B | €10,926 | €4,619 | -€6,306 | -57.7% |
| Recurring financial charges | 65 | €10,926 | €4,619 | -€6,306 | -57.7% |
| Profit (loss) for the period before taxes | 9903 | €53,954 | €424,314 | +€370,360 | +686% |
| Income taxes | 67/77 | €4,905 | €132,971 | +€128,066 | +2,611% |
| Profit (loss) for the period | 9904 | €49,049 | €291,343 | +€242,294 | +494% |
| Profit (loss) for the period to be appropriated | 9905 | €49,049 | €291,343 | +€242,294 | +494% |
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 23 October 2026 via checked.be.