VAN DE VELDE: 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 VELDE
Largest movements
- Tangible fixed assets -€176,810
down €176,810 (-5.2%), from €3.4m to €3.2m
of which Land and buildings: -€198,825
- Cash +€151,814
up €151,814 (+23.9%), from €635,538 to €787,352
mainly Depreciation (+€316,308) and Net result for the year (+€175,501)
- Receivables within one year +€71,936
up €71,936 (+124.9%), from €57,592 to €129,528
of which Trade receivables: +€49,799
- Reserves +€175,501
up €175,501 (+6.5%), from €2.7m to €2.9m
of which Distributable reserves: +€175,501
- Debts after one year -€67,099
down €67,099 (-5.2%), from €1.3m to €1.2m
of which Financial debts: -€66,474
- Trade debts -€49,882
down €49,882 (-69.7%), from €71,563 to €21,682
- Gross operating margin -€70,055
down €70,055 (-7.7%), from €914,339 to €844,284
- Staff costs -€14,855
down €14,855 (-5.8%), from €257,464 to €242,609
- Taxes -€12,041
down €12,041 (-13.5%), from €89,317 to €77,275
- Financial income +€11,591
up €11,591 (+253.7%), from €4,570 to €16,160
- Depreciation +€11,589
up €11,589 (+3.8%), from €304,719 to €316,308
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 | €4,814,342 | €4,856,942 | +€42,600 | +0.9% |
| Fixed assets | 21/28 | €3,422,772 | €3,245,962 | -€176,810 | -5.2% |
| Tangible fixed assets | 22/27 | €3,422,511 | €3,245,702 | -€176,810 | -5.2% |
| Land and buildings | 22 | €3,329,975 | €3,131,149 | -€198,825 | -6.0% |
| Plant, machinery and equipment | 23 | €59,581 | €48,766 | -€10,815 | -18.2% |
| Furniture and vehicles | 24 | €32,956 | €21,679 | -€11,277 | -34.2% |
| Assets under construction and advance payments | 27 | - | €44,107 | +€44,107 | |
| Financial fixed assets | 28 | €260 | €260 | = | 0.0% |
| Current assets | 29/58 | €1,391,570 | €1,610,980 | +€219,410 | +15.8% |
| Stocks and contracts in progress | 3 | €37,989 | €25,276 | -€12,713 | -33.5% |
| Stocks | 30/36 | €37,989 | €25,276 | -€12,713 | -33.5% |
| Amounts receivable within one year | 40/41 | €57,592 | €129,528 | +€71,936 | +124.9% |
| Trade receivables | 40 | €28,520 | €78,320 | +€49,799 | +174.6% |
| Other amounts receivable | 41 | €29,072 | €51,208 | +€22,136 | +76.1% |
| Current investments | 50/53 | €639,976 | €652,152 | +€12,176 | +1.9% |
| Cash at bank and in hand | 54/58 | €635,538 | €787,352 | +€151,814 | +23.9% |
| Deferred charges and accrued income | 490/1 | €20,474 | €16,672 | -€3,802 | -18.6% |
| Total equity and liabilities | 10/49 | €4,814,342 | €4,856,942 | +€42,600 | +0.9% |
| Equity | 10/15 | €2,925,675 | €3,101,175 | +€175,501 | +6.0% |
| Contributions | 10/11 | €231,000 | €231,000 | = | 0.0% |
| Capital | 10 | €231,000 | €231,000 | = | 0.0% |
| Issued capital | 100 | €231,000 | €231,000 | = | 0.0% |
| Reserves | 13 | €2,694,675 | €2,870,175 | +€175,501 | +6.5% |
| Non-distributable reserves | 130/1 | €23,100 | €23,100 | = | 0.0% |
| Legal reserve | 130 | €23,100 | €23,100 | = | 0.0% |
| Tax-exempt reserves | 132 | €56,250 | €56,250 | = | 0.0% |
| Distributable reserves | 133 | €2,615,325 | €2,790,825 | +€175,501 | +6.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €312,162 | €312,162 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €312,162 | €312,162 | = | 0.0% |
| Pensions and similar obligations | 160 | €312,162 | €312,162 | = | 0.0% |
| Amounts payable | 17/49 | €1,576,505 | €1,443,604 | -€132,901 | -8.4% |
| Amounts payable after more than one year | 17 | €1,279,607 | €1,212,508 | -€67,099 | -5.2% |
| Financial debts | 170/4 | €1,274,232 | €1,207,758 | -€66,474 | -5.2% |
| Advances received on contracts in progress | 176 | €5,375 | €4,750 | -€625 | -11.6% |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €263,897 | €205,596 | -€58,301 | -22.1% |
| Current portion of amounts payable after more than one year | 42 | €65,523 | €66,527 | +€1,004 | +1.5% |
| Trade debts | 44 | €71,563 | €21,682 | -€49,882 | -69.7% |
| Suppliers | 440/4 | €71,563 | €21,682 | -€49,882 | -69.7% |
| Advances received on contracts in progress | 46 | €58,850 | €57,952 | -€898 | -1.5% |
| Taxes, remuneration and social security | 45 | €67,961 | €59,435 | -€8,525 | -12.5% |
| Taxes | 450/3 | €36,231 | €30,222 | -€6,009 | -16.6% |
| Remuneration and social security | 454/9 | €31,730 | €29,213 | -€2,517 | -7.9% |
| Accrued charges and deferred income | 492/3 | €33,000 | €25,500 | -€7,500 | -22.7% |
| Non-recurring operating income | 76A | €826 | €858 | +€31 | +3.8% |
| Remuneration, social security and pensions | 62 | €257,464 | €242,609 | -€14,855 | -5.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €304,719 | €316,308 | +€11,589 | +3.8% |
| Other operating charges | 640/8 | €35,293 | €35,923 | +€630 | +1.8% |
| Gross operating margin | 9900 | €914,339 | €844,284 | -€70,055 | -7.7% |
| Operating profit (loss) | 9901 | €316,863 | €249,444 | -€67,419 | -21.3% |
| Financial income | 75/76B | €4,570 | €16,160 | +€11,591 | +253.7% |
| Recurring financial income | 75 | €4,570 | €16,160 | +€11,591 | +253.7% |
| Financial charges | 65/66B | €12,676 | €12,828 | +€153 | +1.2% |
| Recurring financial charges | 65 | €12,676 | €12,828 | +€153 | +1.2% |
| Profit (loss) for the period before taxes | 9903 | €308,757 | €252,776 | -€55,981 | -18.1% |
| Income taxes | 67/77 | €89,317 | €77,275 | -€12,041 | -13.5% |
| Profit (loss) for the period | 9904 | €219,440 | €175,501 | -€43,939 | -20.0% |
| Profit (loss) for the period to be appropriated | 9905 | €219,440 | €175,501 | -€43,939 | -20.0% |
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 9 October 2026 via checked.be.