VAN DE VOORDE ELS: 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 ELS
Largest movements
- Current investments +€41,678
up €41,678 (+21.5%), from €194,000 to €235,678
- Receivables within one year -€11,956
down €11,956 (-39.4%), from €30,349 to €18,393
of which Trade receivables: -€17,741
- Tangible fixed assets -€10,552
down €10,552 (-71.9%), from €14,672 to €4,120
of which Furniture and vehicles: -€10,552
- Reserves +€28,369
up €28,369 (+21.5%), from €131,738 to €160,107
- Other debts -€9,836
down €9,836 (-12.0%), from €81,729 to €71,893
- Trade debts +€2,922
up €2,922 (+191%), from €1,530 to €4,451
- Gross operating margin +€18,144
up €18,144 (+51.3%), from €35,393 to €53,537
- Taxes +€7,876
up €7,876 (+121%), from €6,531 to €14,407
- Financial income +€5,669
up €5,669 (+707%), from €802 to €6,471
- Financial charges +€3,541
up €3,541 (+189%), from €1,870 to €5,411
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 | €244,633 | €267,065 | +€22,432 | +9.2% |
| Fixed assets | 21/28 | €14,672 | €4,120 | -€10,552 | -71.9% |
| Tangible fixed assets | 22/27 | €14,672 | €4,120 | -€10,552 | -71.9% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €14,672 | €4,120 | -€10,552 | -71.9% |
| Current assets | 29/58 | €229,961 | €262,945 | +€32,984 | +14.3% |
| Amounts receivable within one year | 40/41 | €30,349 | €18,393 | -€11,956 | -39.4% |
| Trade receivables | 40 | €28,263 | €10,522 | -€17,741 | -62.8% |
| Other amounts receivable | 41 | €2,086 | €7,871 | +€5,785 | +277% |
| Current investments | 50/53 | €194,000 | €235,678 | +€41,678 | +21.5% |
| Cash at bank and in hand | 54/58 | €5,612 | €7,965 | +€2,352 | +41.9% |
| Deferred charges and accrued income | 490/1 | €0 | €910 | +€910 | |
| Total equity and liabilities | 10/49 | €244,633 | €267,065 | +€22,432 | +9.2% |
| Equity | 10/15 | €150,338 | €178,707 | +€28,369 | +18.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €131,738 | €160,107 | +€28,369 | +21.5% |
| Distributable reserves | 133 | €131,738 | €160,107 | +€28,369 | +21.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €94,295 | €88,359 | -€5,937 | -6.3% |
| Amounts payable within one year | 42/48 | €91,371 | €84,332 | -€7,038 | -7.7% |
| Trade debts | 44 | €1,530 | €4,451 | +€2,922 | +191% |
| Suppliers | 440/4 | €1,530 | €4,451 | +€2,922 | +191% |
| Taxes, remuneration and social security | 45 | €8,112 | €7,989 | -€124 | -1.5% |
| Taxes | 450/3 | €8,112 | €7,989 | -€124 | -1.5% |
| Other amounts payable | 47/48 | €81,729 | €71,893 | -€9,836 | -12.0% |
| Accrued charges and deferred income | 492/3 | €2,924 | €4,026 | +€1,102 | +37.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,663 | €10,552 | -€111 | -1.0% |
| Other operating charges | 640/8 | €1,397 | €1,269 | -€128 | -9.2% |
| Gross operating margin | 9900 | €35,393 | €53,537 | +€18,144 | +51.3% |
| Operating profit (loss) | 9901 | €23,333 | €41,716 | +€18,383 | +78.8% |
| Financial income | 75/76B | €802 | €6,471 | +€5,669 | +707% |
| Recurring financial income | 75 | €802 | €6,471 | +€5,669 | +707% |
| Financial charges | 65/66B | €1,870 | €5,411 | +€3,541 | +189% |
| Recurring financial charges | 65 | €1,870 | €5,411 | +€3,541 | +189% |
| Profit (loss) for the period before taxes | 9903 | €22,265 | €42,776 | +€20,511 | +92.1% |
| Income taxes | 67/77 | €6,531 | €14,407 | +€7,876 | +121% |
| Profit (loss) for the period | 9904 | €15,734 | €28,369 | +€12,635 | +80.3% |
| Profit (loss) for the period to be appropriated | 9905 | €15,734 | €28,369 | +€12,635 | +80.3% |
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.