VAN DAELE: 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 DAELE
Largest movements
- Cash -€576,096
down €576,096 (-44.8%), from €1.3m to €709,113
mainly Current investments (-€500,000) and Trade debts (-€165,587)
- Current investments +€500,000
new in 2025: €500,000
- Receivables within one year +€70,893
up €70,893 (+3244.9%), from €2,185 to €73,078
of which Other amounts receivable: +€73,078
- Tangible fixed assets -€36,449
down €36,449 (-8.5%), from €426,973 to €390,524
of which Land and buildings: -€51,653
- Stocks and contracts -€28,879
down €28,879 (-20.4%), from €141,830 to €112,951
- Trade debts -€165,587
down €165,587 (-28.1%), from €589,190 to €423,603
- Reserves +€81,218
up €81,218 (+7.0%), from €1.2m to €1.2m
of which Distributable reserves: +€81,218
- Financial charges +€60,526
up €60,526 (+610.4%), from €9,916 to €70,442
- Financial income +€16,864
up €16,864 (+308.1%), from €5,474 to €22,338
- Gross operating margin +€12,621
up €12,621 (+3.8%), from €327,840 to €340,461
- Staff costs -€8,574
down €8,574 (-10.7%), from €79,868 to €71,295
- Depreciation -€7,632
down €7,632 (-9.4%), from €81,029 to €73,397
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 | €1,873,007 | €1,792,681 | -€80,326 | -4.3% |
| Fixed assets | 21/28 | €440,118 | €397,540 | -€42,578 | -9.7% |
| Intangible fixed assets | 21 | €13,120 | €6,991 | -€6,129 | -46.7% |
| Tangible fixed assets | 22/27 | €426,973 | €390,524 | -€36,449 | -8.5% |
| Land and buildings | 22 | €368,499 | €316,846 | -€51,653 | -14.0% |
| Plant, machinery and equipment | 23 | €4,680 | €33,492 | +€28,812 | +615.7% |
| Furniture and vehicles | 24 | €53,794 | €40,186 | -€13,608 | -25.3% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €1,432,889 | €1,395,141 | -€37,748 | -2.6% |
| Stocks and contracts in progress | 3 | €141,830 | €112,951 | -€28,879 | -20.4% |
| Stocks | 30/36 | €141,830 | €112,951 | -€28,879 | -20.4% |
| Amounts receivable within one year | 40/41 | €2,185 | €73,078 | +€70,893 | +3244.9% |
| Trade receivables | 40 | €2,185 | €0 | -€2,185 | -100.0% |
| Other amounts receivable | 41 | - | €73,078 | +€73,078 | |
| Current investments | 50/53 | - | €500,000 | +€500,000 | |
| Cash at bank and in hand | 54/58 | €1,285,208 | €709,113 | -€576,096 | -44.8% |
| Deferred charges and accrued income | 490/1 | €3,667 | €0 | -€3,667 | -100.0% |
| Total equity and liabilities | 10/49 | €1,873,007 | €1,792,681 | -€80,326 | -4.3% |
| Equity | 10/15 | €1,226,832 | €1,308,050 | +€81,218 | +6.6% |
| Contributions | 10/11 | €12,395 | €12,395 | = | 0.0% |
| Reserves | 13 | €1,155,373 | €1,236,591 | +€81,218 | +7.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | - | €1,859 | +€1,859 | |
| Other | 1319 | €1,859 | - | -€1,859 | |
| Distributable reserves | 133 | €1,153,514 | €1,234,732 | +€81,218 | +7.0% |
| Profit (loss) carried forward | 14 | €59,064 | €59,064 | = | 0.0% |
| Amounts payable | 17/49 | €646,175 | €484,631 | -€161,544 | -25.0% |
| Amounts payable after more than one year | 17 | €568 | €0 | -€568 | -100.0% |
| Other amounts payable | 178/9 | €568 | €0 | -€568 | -100.0% |
| Amounts payable within one year | 42/48 | €645,522 | €484,631 | -€160,890 | -24.9% |
| Trade debts | 44 | €589,190 | €423,603 | -€165,587 | -28.1% |
| Suppliers | 440/4 | €589,190 | €423,603 | -€165,587 | -28.1% |
| Taxes, remuneration and social security | 45 | €40,230 | €33,254 | -€6,976 | -17.3% |
| Taxes | 450/3 | €25,151 | €25,352 | +€201 | +0.8% |
| Remuneration and social security | 454/9 | €15,079 | €7,902 | -€7,177 | -47.6% |
| Other amounts payable | 47/48 | €16,102 | €27,774 | +€11,673 | +72.5% |
| Accrued charges and deferred income | 492/3 | €85 | €0 | -€85 | -100.0% |
| Remuneration, social security and pensions | 62 | €79,868 | €71,295 | -€8,574 | -10.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €81,029 | €73,397 | -€7,632 | -9.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €6,129 | +€6,129 | |
| Other operating charges | 640/8 | €18,041 | €21,835 | +€3,794 | +21.0% |
| Gross operating margin | 9900 | €327,840 | €340,461 | +€12,621 | +3.8% |
| Operating profit (loss) | 9901 | €148,902 | €167,806 | +€18,904 | +12.7% |
| Financial income | 75/76B | €5,474 | €22,338 | +€16,864 | +308.1% |
| Recurring financial income | 75 | €5,474 | €22,338 | +€16,864 | +308.1% |
| Financial charges | 65/66B | €9,916 | €70,442 | +€60,526 | +610.4% |
| Recurring financial charges | 65 | €9,916 | €70,442 | +€60,526 | +610.4% |
| Profit (loss) for the period before taxes | 9903 | €144,461 | €119,702 | -€24,758 | -17.1% |
| Income taxes | 67/77 | €43,427 | €38,485 | -€4,942 | -11.4% |
| Profit (loss) for the period | 9904 | €101,034 | €81,218 | -€19,816 | -19.6% |
| Profit (loss) for the period to be appropriated | 9905 | €101,034 | €81,218 | -€19,816 | -19.6% |
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 3 October 2026 via checked.be.