Van Belle: 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 Belle
Largest movements
- Current investments +€610,746
up €610,746 (+42.6%), from €1.4m to €2.0m
- Receivables within one year -€166,322
no longer reported in 2025 (was €166,322)
- Cash -€28,165
down €28,165 (-64.1%), from €43,966 to €15,801
mainly Current investments (-€610,746) and Contributions, distributions and other (-€50,000)
- Other debts +€310,918
new in 2025: €310,918
- Reserves +€120,000
up €120,000 (+6.4%), from €1.9m to €2.0m
of which Distributable reserves: +€120,000
- Financial income +€70,530
up €70,530 (+40.7%), from €173,152 to €243,683
- Taxes +€16,162
up €16,162 (+39.4%), from €41,045 to €57,207
- Financial charges +€11,275
up €11,275 (+208.4%), from €5,410 to €16,685
- Gross operating margin +€1,867
up €1,867 (+95.5%), from -€1,955 to -€88
- Other operating charges -€573
down €573 (-17.6%), from €3,254 to €2,681
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 | €1,911,774 | €2,338,851 | +€427,077 | +22.3% |
| Current assets | 29/58 | €1,911,774 | €2,338,851 | +€427,077 | +22.3% |
| Amounts receivable after more than one year | 29 | €268,446 | €279,264 | +€10,818 | +4.0% |
| Other amounts receivable | 291 | €268,446 | €279,264 | +€10,818 | +4.0% |
| Amounts receivable within one year | 40/41 | €166,322 | - | -€166,322 | |
| Other amounts receivable | 41 | €166,322 | - | -€166,322 | |
| Current investments | 50/53 | €1,433,040 | €2,043,786 | +€610,746 | +42.6% |
| Cash at bank and in hand | 54/58 | €43,966 | €15,801 | -€28,165 | -64.1% |
| Total equity and liabilities | 10/49 | €1,911,774 | €2,338,851 | +€427,077 | +22.3% |
| Equity | 10/15 | €1,909,595 | €2,026,617 | +€117,022 | +6.1% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €1,880,625 | €2,000,625 | +€120,000 | +6.4% |
| Tax-exempt reserves | 132 | €625 | €625 | = | 0.0% |
| Distributable reserves | 133 | €1,880,000 | €2,000,000 | +€120,000 | +6.4% |
| Profit (loss) carried forward | 14 | €3,970 | €992 | -€2,978 | -75.0% |
| Amounts payable | 17/49 | €2,179 | €312,234 | +€310,055 | +14228.7% |
| Amounts payable within one year | 42/48 | - | €312,234 | +€312,234 | |
| Taxes, remuneration and social security | 45 | - | €1,316 | +€1,316 | |
| Taxes | 450/3 | - | €1,316 | +€1,316 | |
| Other amounts payable | 47/48 | - | €310,918 | +€310,918 | |
| Accrued charges and deferred income | 492/3 | €2,179 | - | -€2,179 | |
| Other operating charges | 640/8 | €3,254 | €2,681 | -€573 | -17.6% |
| Gross operating margin | 9900 | -€1,955 | -€88 | +€1,867 | +95.5% |
| Operating profit (loss) | 9901 | -€5,209 | -€2,769 | +€2,440 | +46.8% |
| Financial income | 75/76B | €173,152 | €243,683 | +€70,530 | +40.7% |
| Recurring financial income | 75 | €173,152 | €243,683 | +€70,530 | +40.7% |
| Financial charges | 65/66B | €5,410 | €16,685 | +€11,275 | +208.4% |
| Recurring financial charges | 65 | €5,410 | €16,685 | +€11,275 | +208.4% |
| Profit (loss) for the period before taxes | 9903 | €162,533 | €224,229 | +€61,696 | +38.0% |
| Income taxes | 67/77 | €41,045 | €57,207 | +€16,162 | +39.4% |
| Profit (loss) for the period | 9904 | €121,488 | €167,022 | +€45,534 | +37.5% |
| Profit (loss) for the period to be appropriated | 9905 | €121,488 | €167,022 | +€45,534 | +37.5% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.