VAN BELLEGHEM: 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 BELLEGHEM
Largest movements
- Deferred charges and accrued income +€49,501
new in 2025: €49,501
- Receivables within one year -€6,966
down €6,966 (-5.9%), from €118,440 to €111,474
of which Trade receivables: -€10,797
- Cash -€3,438
down €3,438 (-17.3%), from €19,923 to €16,485
mainly Deferred charges and accrued income (-€49,501) and Investment in fixed assets (net) (-€8,708)
- Tangible fixed assets +€2,629
up €2,629 (+11.7%), from €22,391 to €25,020
- Trade debts +€35,794
up €35,794 (+56.2%), from €63,696 to €99,490
- Reserves +€5,638
up €5,638 (+24.0%), from €23,501 to €29,139
- Turnover +€97,215
up €97,215 (+17.0%), from €571,580 to €668,795
- Purchases and services +€58,153
up €58,153 (+16.3%), from €356,089 to €414,242
- Gross operating margin +€44,107
up €44,107 (+18.9%), from €232,895 to €277,002
- Staff costs +€41,464
up €41,464 (+19.3%), from €214,898 to €256,362
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 | €160,754 | €202,481 | +€41,726 | +26.0% |
| Fixed assets | 21/28 | €22,391 | €25,020 | +€2,629 | +11.7% |
| Tangible fixed assets | 22/27 | €22,391 | €25,020 | +€2,629 | +11.7% |
| Furniture and vehicles | 24 | €22,391 | €25,020 | +€2,629 | +11.7% |
| Current assets | 29/58 | €138,363 | €177,461 | +€39,098 | +28.3% |
| Amounts receivable within one year | 40/41 | €118,440 | €111,474 | -€6,966 | -5.9% |
| Trade receivables | 40 | €116,024 | €105,227 | -€10,797 | -9.3% |
| Other amounts receivable | 41 | €2,416 | €6,247 | +€3,831 | +159% |
| Cash at bank and in hand | 54/58 | €19,923 | €16,485 | -€3,438 | -17.3% |
| Deferred charges and accrued income | 490/1 | - | €49,501 | +€49,501 | |
| Total equity and liabilities | 10/49 | €160,754 | €202,481 | +€41,726 | +26.0% |
| Equity | 10/15 | €44,979 | €50,617 | +€5,638 | +12.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €23,501 | €29,139 | +€5,638 | +24.0% |
| Distributable reserves | 133 | €23,501 | €29,139 | +€5,638 | +24.0% |
| Profit (loss) carried forward | 14 | €2,878 | €2,878 | = | 0.0% |
| Amounts payable | 17/49 | €115,775 | €151,864 | +€36,089 | +31.2% |
| Amounts payable within one year | 42/48 | €115,775 | €151,864 | +€36,089 | +31.2% |
| Trade debts | 44 | €63,696 | €99,490 | +€35,794 | +56.2% |
| Suppliers | 440/4 | €63,696 | €99,490 | +€35,794 | +56.2% |
| Taxes, remuneration and social security | 45 | €46,772 | €45,528 | -€1,244 | -2.7% |
| Taxes | 450/3 | €26,010 | €19,049 | -€6,961 | -26.8% |
| Remuneration and social security | 454/9 | €20,762 | €26,479 | +€5,717 | +27.5% |
| Other amounts payable | 47/48 | €5,307 | €6,846 | +€1,538 | +29.0% |
| Turnover | 70 | €571,580 | €668,795 | +€97,215 | +17.0% |
| Non-recurring operating income | 76A | €0 | €0 | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €356,089 | €414,242 | +€58,153 | +16.3% |
| Remuneration, social security and pensions | 62 | €214,898 | €256,362 | +€41,464 | +19.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,123 | €6,080 | +€2,957 | +94.7% |
| Other operating charges | 640/8 | €1,233 | €1,347 | +€114 | +9.3% |
| Gross operating margin | 9900 | €232,895 | €277,002 | +€44,107 | +18.9% |
| Operating profit (loss) | 9901 | €13,642 | €13,213 | -€429 | -3.1% |
| Financial income | 75/76B | €525 | €281 | -€244 | -46.4% |
| Recurring financial income | 75 | €525 | €281 | -€244 | -46.4% |
| Financial charges | 65/66B | €2,957 | €992 | -€1,965 | -66.4% |
| Recurring financial charges | 65 | €2,957 | €992 | -€1,965 | -66.4% |
| Profit (loss) for the period before taxes | 9903 | €11,209 | €12,502 | +€1,292 | +11.5% |
| Income taxes | 67/77 | €6,313 | €6,031 | -€282 | -4.5% |
| Profit (loss) for the period | 9904 | €4,896 | €6,471 | +€1,574 | +32.2% |
| Profit (loss) for the period to be appropriated | 9905 | €4,896 | €6,471 | +€1,574 | +32.2% |
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 13 October 2026 via checked.be.