VAN BREE-DARBINYAN: 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 BREE-DARBINYAN
Largest movements
- Tangible fixed assets +€337,474
up €337,474 (+19.9%), from €1.7m to €2.0m
of which Land and buildings: +€335,946
- Cash +€312,670
up €312,670 (+194%), from €161,581 to €474,251
mainly Net result for the year (+€321,366) and Current investments (+€250,000)
- Current investments -€250,000
no longer reported in 2025 (was €250,000)
- Receivables within one year +€131,372
up €131,372 (+62.0%), from €211,739 to €343,112
of which Other amounts receivable: +€130,431
- Reserves +€321,360
up €321,360 (+37.7%), from €852,760 to €1.2m
of which Distributable reserves: +€178,220
- Debts after one year +€128,967
up €128,967 (+12.6%), from €1.0m to €1.2m
- Current portion of long-term debt +€47,061
up €47,061 (+54.8%), from €85,830 to €132,891
- Gross operating margin +€84,658
up €84,658 (+13.1%), from €645,770 to €730,428
- Depreciation -€77,096
down €77,096 (-44.0%), from €175,140 to €98,044
- Taxes +€31,560
up €31,560 (+34.3%), from €91,878 to €123,437
- Financial charges +€21,703
up €21,703 (+122%), from €17,806 to €39,509
- Financial income +€13,283
up €13,283 (+114%), from €11,679 to €24,962
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 | €2,334,381 | €2,873,816 | +€539,435 | +23.1% |
| Fixed assets | 21/28 | €1,697,907 | €2,037,503 | +€339,596 | +20.0% |
| Tangible fixed assets | 22/27 | €1,697,170 | €2,034,644 | +€337,474 | +19.9% |
| Land and buildings | 22 | €1,605,538 | €1,941,484 | +€335,946 | +20.9% |
| Furniture and vehicles | 24 | €91,633 | €93,161 | +€1,528 | +1.7% |
| Financial fixed assets | 28 | €737 | €2,859 | +€2,122 | +288% |
| Current assets | 29/58 | €636,475 | €836,313 | +€199,839 | +31.4% |
| Amounts receivable within one year | 40/41 | €211,739 | €343,112 | +€131,372 | +62.0% |
| Trade receivables | 40 | €695 | €1,636 | +€941 | +135% |
| Other amounts receivable | 41 | €211,045 | €341,476 | +€130,431 | +61.8% |
| Current investments | 50/53 | €250,000 | - | -€250,000 | |
| Cash at bank and in hand | 54/58 | €161,581 | €474,251 | +€312,670 | +194% |
| Deferred charges and accrued income | 490/1 | €13,154 | €18,950 | +€5,796 | +44.1% |
| Total equity and liabilities | 10/49 | €2,334,381 | €2,873,816 | +€539,435 | +23.1% |
| Equity | 10/15 | €1,128,514 | €1,449,880 | +€321,366 | +28.5% |
| Contributions | 10/11 | €74,400 | €74,400 | = | 0.0% |
| Reserves | 13 | €852,760 | €1,174,120 | +€321,360 | +37.7% |
| Non-distributable reserves | 130/1 | €10,680 | €10,680 | = | 0.0% |
| Reserves not available under the articles | 1311 | €10,680 | €10,680 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €143,140 | +€143,140 | |
| Distributable reserves | 133 | €842,080 | €1,020,300 | +€178,220 | +21.2% |
| Profit (loss) carried forward | 14 | €201,354 | €201,360 | +€6 | 0.0% |
| Amounts payable | 17/49 | €1,205,868 | €1,423,936 | +€218,068 | +18.1% |
| Amounts payable after more than one year | 17 | €1,024,600 | €1,153,567 | +€128,967 | +12.6% |
| Financial debts | 170/4 | €1,024,600 | €1,153,567 | +€128,967 | +12.6% |
| Amounts payable within one year | 42/48 | €151,508 | €232,223 | +€80,716 | +53.3% |
| Current portion of amounts payable after more than one year | 42 | €85,830 | €132,891 | +€47,061 | +54.8% |
| Trade debts | 44 | €21,544 | €39,734 | +€18,190 | +84.4% |
| Suppliers | 440/4 | €21,544 | €39,734 | +€18,190 | +84.4% |
| Taxes, remuneration and social security | 45 | €44,135 | €59,599 | +€15,464 | +35.0% |
| Taxes | 450/3 | €21,978 | €33,381 | +€11,404 | +51.9% |
| Remuneration and social security | 454/9 | €22,157 | €26,217 | +€4,060 | +18.3% |
| Accrued charges and deferred income | 492/3 | €29,760 | €38,146 | +€8,386 | +28.2% |
| Remuneration, social security and pensions | 62 | €158,678 | €156,473 | -€2,205 | -1.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €175,140 | €98,044 | -€77,096 | -44.0% |
| Other operating charges | 640/8 | €9,256 | €16,560 | +€7,304 | +78.9% |
| Gross operating margin | 9900 | €645,770 | €730,428 | +€84,658 | +13.1% |
| Operating profit (loss) | 9901 | €302,696 | €459,350 | +€156,655 | +51.8% |
| Financial income | 75/76B | €11,679 | €24,962 | +€13,283 | +114% |
| Recurring financial income | 75 | €11,679 | €24,962 | +€13,283 | +114% |
| Financial charges | 65/66B | €17,806 | €39,509 | +€21,703 | +122% |
| Recurring financial charges | 65 | €17,806 | €39,509 | +€21,703 | +122% |
| Profit (loss) for the period before taxes | 9903 | €296,569 | €444,804 | +€148,235 | +50.0% |
| Income taxes | 67/77 | €91,878 | €123,437 | +€31,560 | +34.3% |
| Profit (loss) for the period | 9904 | €204,692 | €321,366 | +€116,675 | +57.0% |
| Transfer to tax-exempt reserves | 689 | - | €143,140 | +€143,140 | |
| Profit (loss) for the period to be appropriated | 9905 | €204,692 | €178,226 | -€26,465 | -12.9% |
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 19 October 2026 via checked.be.