VAN DE POPULIERE: 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 POPULIERE
Largest movements
- Stocks and contracts +€149,530
up €149,530 (+35.8%), from €417,455 to €566,985
- Cash +€47,341
up €47,341 (+27.6%), from €171,819 to €219,161
mainly Net result for the year (+€163,233) and Tax, wage and social debts (+€36,392)
- Tangible fixed assets -€14,181
down €14,181 (-7.7%), from €183,538 to €169,357
- Reserves +€163,233
up €163,233 (+45.6%), from €358,077 to €521,310
- Tax, wage and social debts +€36,392
up €36,392 (+167%), from €21,779 to €58,171
- Trade debts -€22,516
down €22,516 (-41.1%), from €54,829 to €32,313
- Debts after one year -€19,649
down €19,649 (-24.8%), from €79,365 to €59,715
- Other debts +€11,650
up €11,650 (+4.9%), from €238,335 to €249,985
- Gross operating margin +€134,639
up €134,639 (+91.1%), from €147,822 to €282,461
- Taxes +€44,492
up €44,492 (+127%), from €34,916 to €79,407
- Financial charges -€3,587
down €3,587 (-15.0%), from €23,979 to €20,392
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 | €800,731 | €969,549 | +€168,818 | +21.1% |
| Fixed assets | 21/28 | €189,631 | €173,415 | -€16,216 | -8.6% |
| Intangible fixed assets | 21 | €6,094 | €4,059 | -€2,035 | -33.4% |
| Tangible fixed assets | 22/27 | €183,538 | €169,357 | -€14,181 | -7.7% |
| Land and buildings | 22 | €163,807 | €156,754 | -€7,053 | -4.3% |
| Plant, machinery and equipment | 23 | €4,092 | €2,543 | -€1,549 | -37.8% |
| Furniture and vehicles | 24 | €15,639 | €10,059 | -€5,580 | -35.7% |
| Current assets | 29/58 | €611,100 | €796,134 | +€185,034 | +30.3% |
| Stocks and contracts in progress | 3 | €417,455 | €566,985 | +€149,530 | +35.8% |
| Stocks | 30/36 | €417,455 | €566,985 | +€149,530 | +35.8% |
| Amounts receivable within one year | 40/41 | €10,685 | €7,418 | -€3,267 | -30.6% |
| Trade receivables | 40 | €10,560 | €7,293 | -€3,267 | -30.9% |
| Other amounts receivable | 41 | €125 | €125 | +€0 | +0.2% |
| Cash at bank and in hand | 54/58 | €171,819 | €219,161 | +€47,341 | +27.6% |
| Deferred charges and accrued income | 490/1 | €11,140 | €2,570 | -€8,570 | -76.9% |
| Total equity and liabilities | 10/49 | €800,731 | €969,549 | +€168,818 | +21.1% |
| Equity | 10/15 | €385,096 | €548,328 | +€163,233 | +42.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €358,077 | €521,310 | +€163,233 | +45.6% |
| Distributable reserves | 133 | €358,077 | €521,310 | +€163,233 | +45.6% |
| Profit (loss) carried forward | 14 | €8,418 | €8,418 | = | 0.0% |
| Amounts payable | 17/49 | €415,636 | €421,221 | +€5,585 | +1.3% |
| Amounts payable after more than one year | 17 | €79,365 | €59,715 | -€19,649 | -24.8% |
| Financial debts | 170/4 | €79,365 | €59,715 | -€19,649 | -24.8% |
| Amounts payable within one year | 42/48 | €334,820 | €360,097 | +€25,278 | +7.5% |
| Current portion of amounts payable after more than one year | 42 | €19,878 | €19,629 | -€249 | -1.3% |
| Trade debts | 44 | €54,829 | €32,313 | -€22,516 | -41.1% |
| Suppliers | 440/4 | €54,829 | €32,313 | -€22,516 | -41.1% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €21,779 | €58,171 | +€36,392 | +167% |
| Taxes | 450/3 | €21,779 | €58,171 | +€36,392 | +167% |
| Other amounts payable | 47/48 | €238,335 | €249,985 | +€11,650 | +4.9% |
| Accrued charges and deferred income | 492/3 | €1,451 | €1,408 | -€43 | -2.9% |
| Non-recurring operating income | 76A | €6,917 | €0 | -€6,917 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,815 | €16,216 | +€401 | +2.5% |
| Other operating charges | 640/8 | €5,473 | €3,362 | -€2,111 | -38.6% |
| Gross operating margin | 9900 | €147,822 | €282,461 | +€134,639 | +91.1% |
| Operating profit (loss) | 9901 | €126,534 | €262,883 | +€136,349 | +108% |
| Financial income | 75/76B | €997 | €149 | -€848 | -85.0% |
| Recurring financial income | 75 | €997 | €149 | -€848 | -85.0% |
| Financial charges | 65/66B | €23,979 | €20,392 | -€3,587 | -15.0% |
| Recurring financial charges | 65 | €23,979 | €20,392 | -€3,587 | -15.0% |
| Profit (loss) for the period before taxes | 9903 | €103,551 | €242,640 | +€139,088 | +134% |
| Income taxes | 67/77 | €34,916 | €79,407 | +€44,492 | +127% |
| Profit (loss) for the period | 9904 | €68,636 | €163,233 | +€94,597 | +138% |
| Profit (loss) for the period to be appropriated | 9905 | €68,636 | €163,233 | +€94,597 | +138% |
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 29 October 2026 via checked.be.