VAN BELST: 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 BELST
Largest movements
- Cash +€17,329
up €17,329 (+7477.1%), from €232 to €17,561
mainly Trade debts (+€27,385) and Tax, wage and social debts (+€7,824)
- Receivables within one year +€15,662
up €15,662 (+396.9%), from €3,946 to €19,608
of which Other amounts receivable: +€14,782
- Deferred charges and accrued income -€626
no longer reported in 2025 (was €626)
- Trade debts +€27,385
up €27,385 (+1747.8%), from €1,567 to €28,952
- Tax, wage and social debts +€7,824
new in 2025: €7,824
of which Remuneration and social security: +€6,749
- Profit (loss) carried forward -€2,399
down €2,399, from €1,294 to -€1,105
- Gross operating margin +€25,309
up €25,309, from -€3,798 to €21,511
- Staff costs +€21,632
new in 2025: €21,632
- Taxes -€1,704
down €1,704 (-93.0%), from €1,832 to €128
- Depreciation +€440
up €440 (+31.5%), from €1,399 to €1,840
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 | €6,922 | €39,670 | +€32,749 | +473.1% |
| Fixed assets | 21/28 | €2,118 | €2,502 | +€384 | +18.1% |
| Tangible fixed assets | 22/27 | €2,118 | €2,502 | +€384 | +18.1% |
| Plant, machinery and equipment | 23 | €755 | €1,690 | +€934 | +123.7% |
| Furniture and vehicles | 24 | €1,362 | €812 | -€550 | -40.4% |
| Current assets | 29/58 | €4,804 | €37,169 | +€32,364 | +673.7% |
| Amounts receivable within one year | 40/41 | €3,946 | €19,608 | +€15,662 | +396.9% |
| Trade receivables | 40 | €3,120 | €4,000 | +€880 | +28.2% |
| Other amounts receivable | 41 | €826 | €15,608 | +€14,782 | +1789.5% |
| Cash at bank and in hand | 54/58 | €232 | €17,561 | +€17,329 | +7477.1% |
| Deferred charges and accrued income | 490/1 | €626 | - | -€626 | |
| Total equity and liabilities | 10/49 | €6,922 | €39,670 | +€32,749 | +473.1% |
| Equity | 10/15 | €5,294 | €2,895 | -€2,399 | -45.3% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,294 | -€1,105 | -€2,399 | |
| Amounts payable | 17/49 | €1,628 | €36,776 | +€35,147 | +2158.5% |
| Amounts payable within one year | 42/48 | €1,628 | €36,776 | +€35,147 | +2158.5% |
| Trade debts | 44 | €1,567 | €28,952 | +€27,385 | +1747.8% |
| Suppliers | 440/4 | €1,567 | €28,952 | +€27,385 | +1747.8% |
| Taxes, remuneration and social security | 45 | - | €7,824 | +€7,824 | |
| Taxes | 450/3 | - | €1,075 | +€1,075 | |
| Remuneration and social security | 454/9 | - | €6,749 | +€6,749 | |
| Other amounts payable | 47/48 | €62 | - | -€62 | |
| Remuneration, social security and pensions | 62 | - | €21,632 | +€21,632 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,399 | €1,840 | +€440 | +31.5% |
| Other operating charges | 640/8 | €149 | - | -€149 | |
| Gross operating margin | 9900 | -€3,798 | €21,511 | +€25,309 | |
| Operating profit (loss) | 9901 | -€5,347 | -€1,961 | +€3,386 | +63.3% |
| Financial charges | 65/66B | €160 | €310 | +€150 | +93.4% |
| Recurring financial charges | 65 | €160 | €310 | +€150 | +93.4% |
| Profit (loss) for the period before taxes | 9903 | -€5,507 | -€2,271 | +€3,236 | +58.8% |
| Income taxes | 67/77 | €1,832 | €128 | -€1,704 | -93.0% |
| Profit (loss) for the period | 9904 | -€7,339 | -€2,399 | +€4,941 | +67.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,339 | -€2,399 | +€4,941 | +67.3% |
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 7 October 2026 via checked.be.