VAN BELLINGHEN: 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 BELLINGHEN
Largest movements
- Cash +€12,732
up €12,732 (+54.5%), from €23,366 to €36,098
mainly Net result for the year (+€17,452) and Depreciation (+€9,163)
- Receivables within one year -€8,951
down €8,951 (-7.2%), from €124,066 to €115,115
of which Other amounts receivable: -€10,201
- Tangible fixed assets -€4,291
down €4,291 (-16.4%), from €26,204 to €21,913
of which Furniture and vehicles: -€5,540
- Debts after one year -€19,371
down €19,371 (-98.8%), from €19,602 to €231
- Reserves +€17,452
up €17,452 (+22.7%), from €77,025 to €94,477
- Tax, wage and social debts +€4,992
up €4,992 (+21.2%), from €23,494 to €28,486
of which Taxes: +€5,962
- Current portion of long-term debt -€3,205
down €3,205 (-42.3%), from €7,576 to €4,371
- Gross operating margin +€8,667
up €8,667 (+8.1%), from €107,067 to €115,735
- Taxes +€5,210
up €5,210 (+133%), from €3,909 to €9,119
- Depreciation -€4,078
down €4,078 (-30.8%), from €13,241 to €9,163
- Staff costs -€1,652
down €1,652 (-2.1%), from €80,471 to €78,820
- Other operating charges -€1,446
down €1,446 (-39.9%), from €3,629 to €2,183
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 | €177,579 | €176,725 | -€854 | -0.5% |
| Fixed assets | 21/28 | €26,204 | €21,913 | -€4,291 | -16.4% |
| Tangible fixed assets | 22/27 | €26,204 | €21,913 | -€4,291 | -16.4% |
| Land and buildings | 22 | €12,752 | €12,752 | = | 0.0% |
| Plant, machinery and equipment | 23 | €6,044 | €7,294 | +€1,250 | +20.7% |
| Furniture and vehicles | 24 | €7,407 | €1,867 | -€5,540 | -74.8% |
| Current assets | 29/58 | €151,375 | €154,812 | +€3,437 | +2.3% |
| Stocks and contracts in progress | 3 | €2,441 | €1,921 | -€520 | -21.3% |
| Stocks | 30/36 | €2,441 | €1,921 | -€520 | -21.3% |
| Amounts receivable within one year | 40/41 | €124,066 | €115,115 | -€8,951 | -7.2% |
| Trade receivables | 40 | €344 | €1,594 | +€1,250 | +363% |
| Other amounts receivable | 41 | €123,722 | €113,521 | -€10,201 | -8.2% |
| Current investments | 50/53 | €39 | €39 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €23,366 | €36,098 | +€12,732 | +54.5% |
| Deferred charges and accrued income | 490/1 | €1,463 | €1,640 | +€176 | +12.0% |
| Total equity and liabilities | 10/49 | €177,579 | €176,725 | -€854 | -0.5% |
| Equity | 10/15 | €101,815 | €119,266 | +€17,452 | +17.1% |
| Contributions | 10/11 | €24,789 | €24,789 | = | 0.0% |
| Reserves | 13 | €77,025 | €94,477 | +€17,452 | +22.7% |
| Distributable reserves | 133 | €77,025 | €94,477 | +€17,452 | +22.7% |
| Amounts payable | 17/49 | €75,765 | €57,459 | -€18,306 | -24.2% |
| Amounts payable after more than one year | 17 | €19,602 | €231 | -€19,371 | -98.8% |
| Financial debts | 170/4 | €19,602 | €231 | -€19,371 | -98.8% |
| Amounts payable within one year | 42/48 | €56,163 | €57,228 | +€1,066 | +1.9% |
| Current portion of amounts payable after more than one year | 42 | €7,576 | €4,371 | -€3,205 | -42.3% |
| Trade debts | 44 | €25,092 | €24,371 | -€721 | -2.9% |
| Suppliers | 440/4 | €25,092 | €24,371 | -€721 | -2.9% |
| Taxes, remuneration and social security | 45 | €23,494 | €28,486 | +€4,992 | +21.2% |
| Taxes | 450/3 | €4,041 | €10,003 | +€5,962 | +148% |
| Remuneration and social security | 454/9 | €19,453 | €18,483 | -€970 | -5.0% |
| Remuneration, social security and pensions | 62 | €80,471 | €78,820 | -€1,652 | -2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,241 | €9,163 | -€4,078 | -30.8% |
| Other operating charges | 640/8 | €3,629 | €2,183 | -€1,446 | -39.9% |
| Gross operating margin | 9900 | €107,067 | €115,735 | +€8,667 | +8.1% |
| Operating profit (loss) | 9901 | €9,726 | €25,569 | +€15,843 | +163% |
| Financial income | 75/76B | €1,888 | €1,567 | -€322 | -17.0% |
| Recurring financial income | 75 | €1,888 | €1,567 | -€322 | -17.0% |
| Financial charges | 65/66B | €1,034 | €566 | -€468 | -45.3% |
| Recurring financial charges | 65 | €1,034 | €566 | -€468 | -45.3% |
| Profit (loss) for the period before taxes | 9903 | €10,581 | €26,570 | +€15,990 | +151% |
| Income taxes | 67/77 | €3,909 | €9,119 | +€5,210 | +133% |
| Profit (loss) for the period | 9904 | €6,672 | €17,452 | +€10,780 | +162% |
| Profit (loss) for the period to be appropriated | 9905 | €6,672 | €17,452 | +€10,780 | +162% |
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 25 October 2026 via checked.be.