VAN DE MAELE: 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 MAELE
Largest movements
- Intangible fixed assets -€37,694
down €37,694 (-14.4%), from €261,047 to €223,353
- Receivables within one year +€7,491
up €7,491 (+194%), from €3,857 to €11,348
of which Other amounts receivable: +€9,168
- Debts after one year -€61,937
down €61,937 (-15.4%), from €403,114 to €341,177
of which Financial debts: -€91,807
- Trade debts +€23,270
up €23,270 (+2,026%), from €1,149 to €24,418
- Reserves +€14,505
up €14,505 (+23.4%), from €62,077 to €76,583
- Accrued charges and deferred income -€12,939
down €12,939 (-63.3%), from €20,439 to €7,500
- Staff costs +€35,814
up €35,814, from -€1,834 to €33,980
- Taxes -€12,853
down €12,853 (-60.7%), from €21,185 to €8,332
- Gross operating margin -€3,274
down €3,274 (-2.3%), from €140,180 to €136,906
- Financial charges -€2,105
down €2,105 (-15.9%), from €13,248 to €11,143
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 | €588,960 | €559,423 | -€29,537 | -5.0% |
| Fixed assets | 21/28 | €564,011 | €524,741 | -€39,270 | -7.0% |
| Intangible fixed assets | 21 | €261,047 | €223,353 | -€37,694 | -14.4% |
| Tangible fixed assets | 22/27 | €297,266 | €295,690 | -€1,575 | -0.5% |
| Land and buildings | 22 | €287,727 | €287,448 | -€279 | -0.1% |
| Plant, machinery and equipment | 23 | €830 | €489 | -€341 | -41.1% |
| Furniture and vehicles | 24 | €8,709 | €7,754 | -€955 | -11.0% |
| Financial fixed assets | 28 | €5,698 | €5,698 | = | 0.0% |
| Current assets | 29/58 | €24,949 | €34,682 | +€9,733 | +39.0% |
| Amounts receivable after more than one year | 29 | €512 | - | -€512 | |
| Other amounts receivable | 291 | €512 | - | -€512 | |
| Amounts receivable within one year | 40/41 | €3,857 | €11,348 | +€7,491 | +194% |
| Trade receivables | 40 | €3,857 | €2,179 | -€1,677 | -43.5% |
| Other amounts receivable | 41 | - | €9,168 | +€9,168 | |
| Cash at bank and in hand | 54/58 | €55 | €27 | -€29 | -51.6% |
| Deferred charges and accrued income | 490/1 | €20,525 | €23,307 | +€2,782 | +13.6% |
| Total equity and liabilities | 10/49 | €588,960 | €559,423 | -€29,537 | -5.0% |
| Equity | 10/15 | €63,077 | €77,583 | +€14,505 | +23.0% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €62,077 | €76,583 | +€14,505 | +23.4% |
| Distributable reserves | 133 | €62,077 | €76,583 | +€14,505 | +23.4% |
| Amounts payable | 17/49 | €525,882 | €481,840 | -€44,042 | -8.4% |
| Amounts payable after more than one year | 17 | €403,114 | €341,177 | -€61,937 | -15.4% |
| Financial debts | 170/4 | €403,114 | €311,307 | -€91,807 | -22.8% |
| Other amounts payable | 178/9 | - | €29,870 | +€29,870 | |
| Amounts payable within one year | 42/48 | €102,330 | €133,164 | +€30,834 | +30.1% |
| Current portion of amounts payable after more than one year | 42 | €80,261 | €81,171 | +€910 | +1.1% |
| Financial debts | 43 | €17,883 | €22,381 | +€4,497 | +25.1% |
| Credit institutions | 430/8 | €17,883 | €22,381 | +€4,497 | +25.1% |
| Trade debts | 44 | €1,149 | €24,418 | +€23,270 | +2,026% |
| Suppliers | 440/4 | €1,149 | €24,418 | +€23,270 | +2,026% |
| Taxes, remuneration and social security | 45 | €3,037 | €5,194 | +€2,157 | +71.0% |
| Taxes | 450/3 | €3,037 | €626 | -€2,411 | -79.4% |
| Remuneration and social security | 454/9 | - | €4,568 | +€4,568 | |
| Accrued charges and deferred income | 492/3 | €20,439 | €7,500 | -€12,939 | -63.3% |
| Non-recurring operating income | 76A | - | €10,374 | +€10,374 | |
| Remuneration, social security and pensions | 62 | -€1,834 | €33,980 | +€35,814 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,296 | €58,558 | +€1,262 | +2.2% |
| Other operating charges | 640/8 | €2,392 | €2,563 | +€171 | +7.2% |
| Non-recurring operating charges | 66A | €1,108 | €7,864 | +€6,756 | +610% |
| Gross operating margin | 9900 | €140,180 | €136,906 | -€3,274 | -2.3% |
| Operating profit (loss) | 9901 | €81,218 | €33,941 | -€47,277 | -58.2% |
| Financial income | 75/76B | €842 | €39 | -€803 | -95.4% |
| Recurring financial income | 75 | €842 | €39 | -€803 | -95.4% |
| Financial charges | 65/66B | €13,248 | €11,143 | -€2,105 | -15.9% |
| Recurring financial charges | 65 | €13,248 | €11,143 | -€2,105 | -15.9% |
| Profit (loss) for the period before taxes | 9903 | €68,811 | €22,837 | -€45,974 | -66.8% |
| Income taxes | 67/77 | €21,185 | €8,332 | -€12,853 | -60.7% |
| Profit (loss) for the period | 9904 | €47,627 | €14,505 | -€33,121 | -69.5% |
| Profit (loss) for the period to be appropriated | 9905 | €47,627 | €14,505 | -€33,121 | -69.5% |
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.