Van De Boer: 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 De Boer
Largest movements
- Cash -€55,665
down €55,665 (-49.1%), from €113,406 to €57,741
mainly Other debts (-€155,615) and Current investments (-€40,589)
- Current investments +€40,589
up €40,589 (+67.6%), from €60,000 to €100,589
- Receivables within one year -€8,003
down €8,003 (-26.0%), from €30,749 to €22,745
of which Trade receivables: -€15,298
- Tangible fixed assets +€2,405
up €2,405 (+27.7%), from €8,677 to €11,082
of which Plant, machinery and equipment: +€2,129
- Other debts -€155,615
down €155,615 (-97.5%), from €159,608 to €3,993
- Reserves +€118,082
up €118,082 (+6,348%), from €1,860 to €119,942
- Advances received +€27,862
new in 2025: €27,862
- Tax, wage and social debts -€9,471
down €9,471 (-25.1%), from €37,769 to €28,298
- Gross operating margin -€34,964
down €34,964 (-16.0%), from €218,936 to €183,972
- Staff costs +€3,658
up €3,658 (+96.6%), from €3,788 to €7,446
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 | €212,832 | €192,158 | -€20,674 | -9.7% |
| Fixed assets | 21/28 | €8,677 | €11,082 | +€2,405 | +27.7% |
| Tangible fixed assets | 22/27 | €8,677 | €11,082 | +€2,405 | +27.7% |
| Plant, machinery and equipment | 23 | €6,306 | €8,435 | +€2,129 | +33.8% |
| Furniture and vehicles | 24 | €2,371 | €2,647 | +€276 | +11.7% |
| Current assets | 29/58 | €204,154 | €181,076 | -€23,078 | -11.3% |
| Amounts receivable within one year | 40/41 | €30,749 | €22,745 | -€8,003 | -26.0% |
| Trade receivables | 40 | €30,749 | €15,450 | -€15,298 | -49.8% |
| Other amounts receivable | 41 | - | €7,295 | +€7,295 | |
| Current investments | 50/53 | €60,000 | €100,589 | +€40,589 | +67.6% |
| Cash at bank and in hand | 54/58 | €113,406 | €57,741 | -€55,665 | -49.1% |
| Total equity and liabilities | 10/49 | €212,832 | €192,158 | -€20,674 | -9.7% |
| Equity | 10/15 | €8,060 | €126,142 | +€118,082 | +1,465% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €119,942 | +€118,082 | +6,348% |
| Distributable reserves | 133 | €1,860 | €119,942 | +€118,082 | +6,348% |
| Amounts payable | 17/49 | €204,772 | €66,016 | -€138,755 | -67.8% |
| Amounts payable after more than one year | 17 | €5,505 | €5,484 | -€21 | -0.4% |
| Advances received on contracts in progress | 176 | €5,505 | €5,484 | -€21 | -0.4% |
| Amounts payable within one year | 42/48 | €199,266 | €60,270 | -€138,997 | -69.8% |
| Trade debts | 44 | €1,890 | €116 | -€1,773 | -93.8% |
| Suppliers | 440/4 | €1,890 | €116 | -€1,773 | -93.8% |
| Advances received on contracts in progress | 46 | - | €27,862 | +€27,862 | |
| Taxes, remuneration and social security | 45 | €37,769 | €28,298 | -€9,471 | -25.1% |
| Taxes | 450/3 | €37,769 | €28,298 | -€9,471 | -25.1% |
| Other amounts payable | 47/48 | €159,608 | €3,993 | -€155,615 | -97.5% |
| Accrued charges and deferred income | 492/3 | - | €263 | +€263 | |
| Remuneration, social security and pensions | 62 | €3,788 | €7,446 | +€3,658 | +96.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,054 | €4,179 | -€876 | -17.3% |
| Other operating charges | 640/8 | €118 | €1,795 | +€1,677 | +1,421% |
| Gross operating margin | 9900 | €218,936 | €183,972 | -€34,964 | -16.0% |
| Operating profit (loss) | 9901 | €209,975 | €170,552 | -€39,423 | -18.8% |
| Financial income | 75/76B | - | €2,113 | +€2,113 | |
| Recurring financial income | 75 | - | €2,113 | +€2,113 | |
| Financial charges | 65/66B | €163 | €64 | -€99 | -60.8% |
| Recurring financial charges | 65 | €163 | €64 | -€99 | -60.8% |
| Profit (loss) for the period before taxes | 9903 | €209,812 | €172,601 | -€37,211 | -17.7% |
| Income taxes | 67/77 | €53,971 | €54,519 | +€548 | +1.0% |
| Profit (loss) for the period | 9904 | €155,841 | €118,082 | -€37,760 | -24.2% |
| Profit (loss) for the period to be appropriated | 9905 | €155,841 | €118,082 | -€37,760 | -24.2% |
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 17 October 2026 via checked.be.