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.
What changed
VAN DE VELDE
NACE 14.220, Manufacture of wearing apparel
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€16.5m
2024 · €8.0m+€8.5m
Equity
€107.6m
2024 · €128.4m-€20.9m
Cash
€31.7m
2024 · €12.2m+€19.5m
Balance sheet total
€180.9m
2024 · €195.0m-€14.0m
Largest movements
Assets
- Current investments -€30.0m
down €30.0m (-58.7%), from €51.0m to €21.1m
of which Other investments: -€26.9m
- Cash +€19.5m
up €19.5m (+160%), from €12.2m to €31.7m
mainly Current investments (+€30.0m) and Net result for the year (+€16.5m)
- Financial fixed assets -€9.6m
down €9.6m (-25.3%), from €38.0m to €28.4m
of which Companies linked by participating interests: -€9.6m
- Stocks and contracts +€5.1m
up €5.1m (+12.8%), from €40.3m to €45.4m
- Receivables after one year +€2.2m
up €2.2m (+38.0%), from €5.7m to €7.8m
of which Other amounts receivable: +€1.6m
Equity and liabilities
- Reserves -€20.8m
down €20.8m (-18.5%), from €112.5m to €91.6m
of which Distributable reserves: -€17.7m
- Trade debts +€5.6m
up €5.6m (+20.7%), from €26.9m to €32.4m
Income statement
- Financial charges -€22.9m
down €22.9m (-60.4%), from €38.0m to €15.1m
of which Non-recurring financial charges: -€22.8m
- Financial income -€17.4m
down €17.4m (-85.4%), from €20.3m to €3.0m
- Goods and materials +€4.2m
up €4.2m (+14.4%), from €28.8m to €32.9m
of which Purchases: +€5.1m
- Services and other goods +€4.1m
up €4.1m (+4.4%), from €92.9m to €97.0m
- Write-downs -€2.8m
down €2.8m, from €2.2m to -€542,231
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.
Result 2024
€8.0m
Turnover
-€1.5m
Other operating income
+€602,213
Goods and materials
-€4.2m
Services and other goods
-€4.1m
Staff costs
-€807,176
Depreciation
+€32,480
Write-downs
+€2.8m
Other operating charges
-€34,743
Other operating items
+€11.9m
Financial income
-€17.4m
Financial charges
+€22.9m
Taxes
-€1.9m
Result 2025
€16.5m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€22.7m
Investment
+€34.2m
Financing
-€37.4m
Cash 2024
€12.2m
From operations (derived)
+€22.7m
Net result for the year
+€16.5m
Depreciation
+€5.5m
Receivables after one year
-€2.2m
Stocks and contracts
-€5.1m
Receivables within one year
+€1.6m
Deferred charges and accrued income
-€400,876
Trade debts
+€5.6m
Tax, wage and social debts
+€614,790
Other debts
+€717,320
Accrued charges and deferred income
-€62,975
Investment (derived)
+€34.2m
Investment in fixed assets (net)
+€4.2m
Current investments
+€30.0m
Financing
-€37.4m
Contributions, distributions and other
-€37.4m
Cash 2025
€31.7m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €194,963,484 | €180,917,359 | -€14.0m | -7.2% |
| Fixed assets | 21/28 | €64,339,027 | €54,651,302 | -€9.7m | -15.1% |
| Intangible fixed assets | 21 | €8,358,295 | €8,686,369 | +€328,074 | +3.9% |
| Tangible fixed assets | 22/27 | €17,940,138 | €17,532,050 | -€408,088 | -2.3% |
| Land and buildings | 22 | €13,135,153 | €12,608,180 | -€526,973 | -4.0% |
| Plant, machinery and equipment | 23 | €3,835,828 | €3,345,158 | -€490,669 | -12.8% |
| Furniture and vehicles | 24 | €436,648 | €1,074,152 | +€637,503 | +146% |
| Other tangible fixed assets | 26 | €56,978 | €79,404 | +€22,426 | +39.4% |
| Assets under construction and advance payments | 27 | €475,531 | €425,156 | -€50,375 | -10.6% |
| Financial fixed assets | 28 | €38,040,595 | €28,432,883 | -€9.6m | -25.3% |
| Affiliated companies | 280/1 | €25,998,960 | €25,998,958 | -€2 | 0.0% |
| Participating interests | 280 | €25,998,960 | €25,998,958 | -€2 | 0.0% |
| Companies linked by participating interests | 282/3 | €11,672,061 | €2,085,242 | -€9.6m | -82.1% |
| Participating interests | 282 | €11,672,061 | €2,085,242 | -€9.6m | -82.1% |
| Other financial fixed assets | 284/8 | €369,574 | €348,683 | -€20,891 | -5.7% |
| Amounts receivable and cash guarantees | 285/8 | €369,574 | €348,683 | -€20,891 | -5.7% |
| Current assets | 29/58 | €130,624,457 | €126,266,057 | -€4.4m | -3.3% |
| Amounts receivable after more than one year | 29 | €5,660,046 | €7,811,355 | +€2.2m | +38.0% |
| Trade receivables | 290 | €782,894 | €1,294,697 | +€511,803 | +65.4% |
| Other amounts receivable | 291 | €4,877,153 | €6,516,658 | +€1.6m | +33.6% |
| Stocks and contracts in progress | 3 | €40,301,086 | €45,446,351 | +€5.1m | +12.8% |
| Stocks | 30/36 | €40,301,086 | €45,446,351 | +€5.1m | +12.8% |
| Raw materials and consumables | 30/31 | €7,489,408 | €9,223,219 | +€1.7m | +23.2% |
| Work in progress | 32 | €8,991,215 | €12,114,456 | +€3.1m | +34.7% |
| Finished goods | 33 | €23,820,463 | €24,108,676 | +€288,213 | +1.2% |
| Amounts receivable within one year | 40/41 | €20,130,380 | €18,514,301 | -€1.6m | -8.0% |
| Trade receivables | 40 | €17,007,246 | €16,646,760 | -€360,486 | -2.1% |
| Other amounts receivable | 41 | €3,123,134 | €1,867,541 | -€1.3m | -40.2% |
| Current investments | 50/53 | €51,014,294 | €21,062,789 | -€30.0m | -58.7% |
| Own shares | 50 | €12,989,280 | €9,902,190 | -€3.1m | -23.8% |
| Other investments | 51/53 | €38,025,014 | €11,160,599 | -€26.9m | -70.6% |
| Cash at bank and in hand | 54/58 | €12,168,152 | €31,679,887 | +€19.5m | +160% |
| Deferred charges and accrued income | 490/1 | €1,350,498 | €1,751,373 | +€400,876 | +29.7% |
| Total equity and liabilities | 10/49 | €194,963,484 | €180,917,359 | -€14.0m | -7.2% |
| Equity | 10/15 | €128,438,312 | €107,561,383 | -€20.9m | -16.3% |
| Contributions | 10/11 | €2,679,596 | €2,679,596 | = | 0.0% |
| Capital | 10 | €1,936,174 | €1,936,174 | = | 0.0% |
| Issued capital | 100 | €1,936,174 | €1,936,174 | = | 0.0% |
| Contributions outside capital | 11 | €743,423 | €743,423 | = | 0.0% |
| Share premium | 1100/10 | €743,423 | €743,423 | = | 0.0% |
| Reserves | 13 | €112,455,192 | €91,618,953 | -€20.8m | -18.5% |
| Non-distributable reserves | 130/1 | €13,182,897 | €10,095,808 | -€3.1m | -23.4% |
| Legal reserve | 130 | €193,617 | €193,617 | = | 0.0% |
| Own shares acquired | 1312 | €12,989,280 | €9,902,190 | -€3.1m | -23.8% |
| Distributable reserves | 133 | €99,272,295 | €81,523,145 | -€17.7m | -17.9% |
| Profit (loss) carried forward | 14 | €13,262,833 | €13,262,834 | +€0 | 0.0% |
| Investment grants | 15 | €40,690 | - | -€40,690 | |
| Amounts payable | 17/49 | €66,525,173 | €73,355,976 | +€6.8m | +10.3% |
| Amounts payable within one year | 42/48 | €66,249,032 | €73,142,810 | +€6.9m | +10.4% |
| Trade debts | 44 | €26,873,494 | €32,435,163 | +€5.6m | +20.7% |
| Suppliers | 440/4 | €26,873,494 | €32,435,163 | +€5.6m | +20.7% |
| Taxes, remuneration and social security | 45 | €8,061,654 | €8,676,443 | +€614,790 | +7.6% |
| Taxes | 450/3 | €1,403,694 | €1,693,781 | +€290,087 | +20.7% |
| Remuneration and social security | 454/9 | €6,657,960 | €6,982,662 | +€324,702 | +4.9% |
| Other amounts payable | 47/48 | €31,313,884 | €32,031,204 | +€717,320 | +2.3% |
| Accrued charges and deferred income | 492/3 | €276,141 | €213,166 | -€62,975 | -22.8% |
| Operating income | 70/76A | €194,550,313 | €205,622,705 | +€11.1m | +5.7% |
| Turnover | 70 | €198,068,779 | €196,604,960 | -€1.5m | -0.7% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€8,511,595 | €3,422,402 | +€11.9m | |
| Other operating income | 74 | €4,993,130 | €5,595,343 | +€602,213 | +12.1% |
| Operating charges | 60/66A | €163,931,964 | €170,233,147 | +€6.3m | +3.8% |
| Goods for resale, raw materials and consumables | 60 | €28,779,765 | €32,936,250 | +€4.2m | +14.4% |
| Purchases | 600/8 | €29,834,439 | €34,896,371 | +€5.1m | +17.0% |
| Change in stocks: decrease (increase) | 609 | -€1,054,674 | -€1,960,121 | -€905,448 | -85.9% |
| Services and other goods | 61 | €92,912,111 | €97,012,364 | +€4.1m | +4.4% |
| Remuneration, social security and pensions | 62 | €34,246,391 | €35,053,567 | +€807,176 | +2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,516,199 | €5,483,719 | -€32,480 | -0.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,222,761 | -€542,231 | -€2.8m | |
| Other operating charges | 640/8 | €254,736 | €289,480 | +€34,743 | +13.6% |
| Operating profit (loss) | 9901 | €30,618,349 | €35,389,558 | +€4.8m | +15.6% |
| Financial income | 75/76B | €20,316,894 | €2,961,511 | -€17.4m | -85.4% |
| Recurring financial income | 75 | €20,316,894 | €2,961,511 | -€17.4m | -85.4% |
| Income from financial fixed assets | 750 | €17,182,627 | €280,000 | -€16.9m | -98.4% |
| Income from current assets | 751 | €1,678,769 | €1,007,492 | -€671,276 | -40.0% |
| Other financial income | 752/9 | €1,455,497 | €1,674,019 | +€218,522 | +15.0% |
| Financial charges | 65/66B | €37,974,057 | €15,054,787 | -€22.9m | -60.4% |
| Recurring financial charges | 65 | €5,574,057 | €5,467,968 | -€106,089 | -1.9% |
| Debt charges | 650 | €640,633 | €584,883 | -€55,749 | -8.7% |
| Other financial charges | 652/9 | €4,933,425 | €4,883,085 | -€50,340 | -1.0% |
| Non-recurring financial charges | 66B | €32,400,000 | €9,586,819 | -€22.8m | -70.4% |
| Profit (loss) for the period before taxes | 9903 | €12,961,186 | €23,296,282 | +€10.3m | +79.7% |
| Income taxes | 67/77 | €4,937,742 | €6,813,106 | +€1.9m | +38.0% |
| Taxes | 670/3 | €4,937,742 | €6,813,106 | +€1.9m | +38.0% |
| Tax adjustments and reversals of tax provisions | 77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | €8,023,444 | €16,483,177 | +€8.5m | +105% |
| Profit (loss) for the period to be appropriated | 9905 | €8,023,444 | €16,483,177 | +€8.5m | +105% |
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 14 October 2026 via checked.be.