Van den Boer Construct: what changed
Two fiscal 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 den Boer Construct
Largest movements
- Current investments +€174,800
up €174,800 (+128.0%), from €136,550 to €311,350
- Cash -€161,686
down €161,686 (-25.8%), from €626,509 to €464,823
mainly Other debts (-€500,221) and Current investments (-€174,800)
- Receivables within one year -€126,911
down €126,911 (-22.8%), from €556,880 to €429,968
of which Other amounts receivable: -€135,884
- Other debts -€500,221
down €500,221 (-94.1%), from €531,421 to €31,200
- Debts after one year +€325,000
new in 2025: €325,000
- Reserves +€56,850
up €56,850 (+5.4%), from €1.1m to €1.1m
- Gross operating margin +€10,674
up €10,674 (+4.0%), from €269,232 to €279,906
- Taxes +€3,969
up €3,969 (+4.8%), from €83,419 to €87,388
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 | €1,630,761 | €1,515,266 | -€115,495 | -7.1% |
| Fixed assets | 21/28 | €310,121 | €308,468 | -€1,653 | -0.5% |
| Tangible fixed assets | 22/27 | €10,121 | €8,468 | -€1,653 | -16.3% |
| Land and buildings | 22 | €4,780 | €4,175 | -€605 | -12.7% |
| Plant, machinery and equipment | 23 | €2,334 | €2,243 | -€91 | -3.9% |
| Furniture and vehicles | 24 | €3,007 | €2,050 | -€957 | -31.8% |
| Financial fixed assets | 28 | €300,000 | €300,000 | = | 0.0% |
| Current assets | 29/58 | €1,320,640 | €1,206,798 | -€113,842 | -8.6% |
| Amounts receivable within one year | 40/41 | €556,880 | €429,968 | -€126,911 | -22.8% |
| Trade receivables | 40 | €143,327 | €152,300 | +€8,973 | +6.3% |
| Other amounts receivable | 41 | €413,553 | €277,668 | -€135,884 | -32.9% |
| Current investments | 50/53 | €136,550 | €311,350 | +€174,800 | +128.0% |
| Cash at bank and in hand | 54/58 | €626,509 | €464,823 | -€161,686 | -25.8% |
| Deferred charges and accrued income | 490/1 | €701 | €656 | -€45 | -6.4% |
| Total equity and liabilities | 10/49 | €1,630,761 | €1,515,266 | -€115,495 | -7.1% |
| Equity | 10/15 | €1,078,877 | €1,135,763 | +€56,886 | +5.3% |
| Contributions | 10/11 | €14,500 | €14,500 | = | 0.0% |
| Reserves | 13 | €1,058,050 | €1,114,900 | +€56,850 | +5.4% |
| Distributable reserves | 133 | €1,058,050 | €1,114,900 | +€56,850 | +5.4% |
| Profit (loss) carried forward | 14 | €6,327 | €6,363 | +€36 | +0.6% |
| Amounts payable | 17/49 | €551,885 | €379,503 | -€172,382 | -31.2% |
| Amounts payable after more than one year | 17 | - | €325,000 | +€325,000 | |
| Financial debts | 170/4 | - | €325,000 | +€325,000 | |
| Amounts payable within one year | 42/48 | €551,885 | €54,503 | -€497,382 | -90.1% |
| Trade debts | 44 | €3,557 | €1,325 | -€2,233 | -62.8% |
| Suppliers | 440/4 | €3,557 | €1,325 | -€2,233 | -62.8% |
| Taxes, remuneration and social security | 45 | €16,906 | €21,978 | +€5,072 | +30.0% |
| Taxes | 450/3 | €13,150 | €14,417 | +€1,267 | +9.6% |
| Remuneration and social security | 454/9 | €3,756 | €7,561 | +€3,805 | +101.3% |
| Other amounts payable | 47/48 | €531,421 | €31,200 | -€500,221 | -94.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,389 | €2,450 | +€61 | +2.5% |
| Other operating charges | 640/8 | €1,432 | €1,477 | +€45 | +3.1% |
| Gross operating margin | 9900 | €269,232 | €279,906 | +€10,674 | +4.0% |
| Operating profit (loss) | 9901 | €265,411 | €275,979 | +€10,568 | +4.0% |
| Financial income | 75/76B | €9,270 | €9,886 | +€617 | +6.7% |
| Recurring financial income | 75 | €9,270 | €9,886 | +€617 | +6.7% |
| Financial charges | 65/66B | €747 | €941 | +€195 | +26.1% |
| Recurring financial charges | 65 | €747 | €941 | +€195 | +26.1% |
| Profit (loss) for the period before taxes | 9903 | €273,934 | €284,924 | +€10,990 | +4.0% |
| Income taxes | 67/77 | €83,419 | €87,388 | +€3,969 | +4.8% |
| Profit (loss) for the period | 9904 | €190,515 | €197,536 | +€7,021 | +3.7% |
| Profit (loss) for the period to be appropriated | 9905 | €190,515 | €197,536 | +€7,021 | +3.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.