VAN DE VOORDE: 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 VOORDE
Largest movements
- Stocks and contracts +€27,250
up €27,250 (+35.6%), from €76,490 to €103,740
of which Contracts in progress: +€38,465
- Cash +€24,175
up €24,175 (+42.7%), from €56,640 to €80,814
mainly Depreciation (+€23,655) and Trade debts (+€21,025)
- Tangible fixed assets -€23,655
down €23,655 (-32.0%), from €74,004 to €50,349
of which Furniture and vehicles: -€17,332
- Receivables within one year +€6,693
up €6,693 (+47.1%), from €14,221 to €20,914
of which Trade receivables: +€6,848
- Trade debts +€21,025
up €21,025 (+95.9%), from €21,932 to €42,957
- Reserves +€13,577
up €13,577 (+8.9%), from €152,993 to €166,569
- Depreciation +€6,301
up €6,301 (+36.3%), from €17,354 to €23,655
- Gross operating margin +€1,530
up €1,530 (+3.7%), from €41,790 to €43,320
- Taxes -€1,234
down €1,234 (-18.0%), from €6,841 to €5,607
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 | €226,723 | €261,132 | +€34,409 | +15.2% |
| Fixed assets | 21/28 | €74,004 | €50,349 | -€23,655 | -32.0% |
| Tangible fixed assets | 22/27 | €74,004 | €50,349 | -€23,655 | -32.0% |
| Plant, machinery and equipment | 23 | €3,281 | €1,940 | -€1,341 | -40.9% |
| Furniture and vehicles | 24 | €62,119 | €44,787 | -€17,332 | -27.9% |
| Leasing and similar rights | 25 | €8,603 | €3,621 | -€4,982 | -57.9% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Current assets | 29/58 | €152,719 | €210,783 | +€58,064 | +38.0% |
| Stocks and contracts in progress | 3 | €76,490 | €103,740 | +€27,250 | +35.6% |
| Stocks | 30/36 | €60,185 | €48,970 | -€11,215 | -18.6% |
| Contracts in progress | 37 | €16,305 | €54,770 | +€38,465 | +236% |
| Amounts receivable within one year | 40/41 | €14,221 | €20,914 | +€6,693 | +47.1% |
| Trade receivables | 40 | €1,946 | €8,794 | +€6,848 | +352% |
| Other amounts receivable | 41 | €12,275 | €12,120 | -€155 | -1.3% |
| Cash at bank and in hand | 54/58 | €56,640 | €80,814 | +€24,175 | +42.7% |
| Deferred charges and accrued income | 490/1 | €5,368 | €5,315 | -€53 | -1.0% |
| Total equity and liabilities | 10/49 | €226,723 | €261,132 | +€34,409 | +15.2% |
| Equity | 10/15 | €159,793 | €173,369 | +€13,577 | +8.5% |
| Contributions | 10/11 | €6,800 | €6,800 | = | 0.0% |
| Reserves | 13 | €152,993 | €166,569 | +€13,577 | +8.9% |
| Distributable reserves | 133 | €152,993 | €166,569 | +€13,577 | +8.9% |
| Amounts payable | 17/49 | €66,931 | €87,763 | +€20,833 | +31.1% |
| Amounts payable within one year | 42/48 | €65,342 | €84,632 | +€19,290 | +29.5% |
| Current portion of amounts payable after more than one year | 42 | €38,000 | €38,000 | = | 0.0% |
| Trade debts | 44 | €21,932 | €42,957 | +€21,025 | +95.9% |
| Suppliers | 440/4 | €21,932 | €42,957 | +€21,025 | +95.9% |
| Taxes, remuneration and social security | 45 | €5,353 | €3,618 | -€1,735 | -32.4% |
| Taxes | 450/3 | €3,503 | €1,768 | -€1,735 | -49.5% |
| Remuneration and social security | 454/9 | €1,850 | €1,850 | = | 0.0% |
| Other amounts payable | 47/48 | €57 | €57 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €1,589 | €3,131 | +€1,543 | +97.1% |
| Non-recurring operating income | 76A | €4,266 | €0 | -€4,266 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,354 | €23,655 | +€6,301 | +36.3% |
| Other operating charges | 640/8 | €1,227 | €1,280 | +€53 | +4.3% |
| Gross operating margin | 9900 | €41,790 | €43,320 | +€1,530 | +3.7% |
| Operating profit (loss) | 9901 | €23,210 | €18,385 | -€4,825 | -20.8% |
| Financial income | 75/76B | €1,986 | €2,396 | +€410 | +20.6% |
| Recurring financial income | 75 | €1,986 | €2,396 | +€410 | +20.6% |
| Financial charges | 65/66B | €1,586 | €1,598 | +€12 | +0.7% |
| Recurring financial charges | 65 | €1,586 | €1,598 | +€12 | +0.7% |
| Profit (loss) for the period before taxes | 9903 | €23,610 | €19,184 | -€4,426 | -18.7% |
| Income taxes | 67/77 | €6,841 | €5,607 | -€1,234 | -18.0% |
| Profit (loss) for the period | 9904 | €16,769 | €13,577 | -€3,193 | -19.0% |
| Profit (loss) for the period to be appropriated | 9905 | €16,769 | €13,577 | -€3,193 | -19.0% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.