VAN den DOOREN: 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 den DOOREN
Largest movements
- Stocks and contracts +€1.0m
up €1.0m (+42.1%), from €2.4m to €3.4m
- Receivables within one year +€282,380
up €282,380 (+33.8%), from €835,332 to €1.1m
of which Trade receivables: +€282,989
- Cash -€76,872
down €76,872 (-9.1%), from €840,399 to €763,527
mainly Stocks and contracts (-€1.0m) and Contributions, distributions and other (-€850,281)
- Other debts +€861,503
up €861,503 (+4,432%), from €19,437 to €880,939
- Trade debts +€857,814
up €857,814 (+248%), from €345,567 to €1.2m
- Reserves -€450,255
down €450,255 (-15.5%), from €2.9m to €2.5m
- Tax, wage and social debts +€96,136
up €96,136 (+53.3%), from €180,218 to €276,353
of which Taxes: +€91,914
- Current portion of long-term debt -€68,167
down €68,167 (-60.5%), from €112,732 to €44,565
- Gross operating margin +€87,621
up €87,621 (+12.0%), from €730,287 to €817,908
- Write-downs +€27,000
no longer reported in 2025 (was -€27,000)
- Staff costs +€26,478
up €26,478 (+30.4%), from €87,040 to €113,518
- Other operating charges +€12,038
up €12,038 (+77.8%), from €15,466 to €27,504
- Taxes +€8,451
up €8,451 (+4.9%), from €173,641 to €182,093
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 | €4,735,783 | €5,988,920 | +€1.3m | +26.5% |
| Fixed assets | 21/28 | €645,058 | €681,666 | +€36,608 | +5.7% |
| Tangible fixed assets | 22/27 | €644,864 | €681,472 | +€36,608 | +5.7% |
| Land and buildings | 22 | €610,219 | €590,169 | -€20,050 | -3.3% |
| Plant, machinery and equipment | 23 | €17,411 | €12,573 | -€4,838 | -27.8% |
| Furniture and vehicles | 24 | €9,434 | €56,020 | +€46,586 | +494% |
| Assets under construction and advance payments | 27 | €7,800 | €22,710 | +€14,910 | +191% |
| Financial fixed assets | 28 | €194 | €194 | = | 0.0% |
| Current assets | 29/58 | €4,090,725 | €5,307,253 | +€1.2m | +29.7% |
| Stocks and contracts in progress | 3 | €2,409,418 | €3,423,608 | +€1.0m | +42.1% |
| Stocks | 30/36 | €2,409,418 | €3,423,608 | +€1.0m | +42.1% |
| Amounts receivable within one year | 40/41 | €835,332 | €1,117,712 | +€282,380 | +33.8% |
| Trade receivables | 40 | €832,437 | €1,115,426 | +€282,989 | +34.0% |
| Other amounts receivable | 41 | €2,895 | €2,286 | -€609 | -21.0% |
| Cash at bank and in hand | 54/58 | €840,399 | €763,527 | -€76,872 | -9.1% |
| Deferred charges and accrued income | 490/1 | €5,577 | €2,406 | -€3,171 | -56.9% |
| Total equity and liabilities | 10/49 | €4,735,783 | €5,988,920 | +€1.3m | +26.5% |
| Equity | 10/15 | €3,374,238 | €2,923,983 | -€450,255 | -13.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €2,906,512 | €2,456,257 | -€450,255 | -15.5% |
| Distributable reserves | 133 | €2,906,512 | €2,456,257 | -€450,255 | -15.5% |
| Profit (loss) carried forward | 14 | €461,526 | €461,526 | = | 0.0% |
| Amounts payable | 17/49 | €1,361,545 | €3,064,937 | +€1.7m | +125% |
| Amounts payable after more than one year | 17 | €702,647 | €658,083 | -€44,565 | -6.3% |
| Financial debts | 170/4 | €702,647 | €658,083 | -€44,565 | -6.3% |
| Amounts payable within one year | 42/48 | €657,953 | €2,405,238 | +€1.7m | +266% |
| Current portion of amounts payable after more than one year | 42 | €112,732 | €44,565 | -€68,167 | -60.5% |
| Trade debts | 44 | €345,567 | €1,203,381 | +€857,814 | +248% |
| Suppliers | 440/4 | €345,567 | €1,203,381 | +€857,814 | +248% |
| Taxes, remuneration and social security | 45 | €180,218 | €276,353 | +€96,136 | +53.3% |
| Taxes | 450/3 | €148,108 | €240,022 | +€91,914 | +62.1% |
| Remuneration and social security | 454/9 | €32,110 | €36,331 | +€4,221 | +13.1% |
| Other amounts payable | 47/48 | €19,437 | €880,939 | +€861,503 | +4,432% |
| Accrued charges and deferred income | 492/3 | €945 | €1,616 | +€671 | +71.0% |
| Remuneration, social security and pensions | 62 | €87,040 | €113,518 | +€26,478 | +30.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,189 | €45,233 | +€43 | +0.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€27,000 | - | +€27,000 | |
| Other operating charges | 640/8 | €15,466 | €27,504 | +€12,038 | +77.8% |
| Gross operating margin | 9900 | €730,287 | €817,908 | +€87,621 | +12.0% |
| Operating profit (loss) | 9901 | €609,591 | €631,652 | +€22,061 | +3.6% |
| Financial income | 75/76B | €19 | €10 | -€9 | -49.3% |
| Recurring financial income | 75 | €19 | €10 | -€9 | -49.3% |
| Financial charges | 65/66B | €51,724 | €49,544 | -€2,180 | -4.2% |
| Recurring financial charges | 65 | €50,341 | €48,527 | -€1,814 | -3.6% |
| Non-recurring financial charges | 66B | €1,383 | €1,016 | -€366 | -26.5% |
| Profit (loss) for the period before taxes | 9903 | €557,886 | €582,118 | +€24,232 | +4.3% |
| Income taxes | 67/77 | €173,641 | €182,093 | +€8,451 | +4.9% |
| Profit (loss) for the period | 9904 | €384,245 | €400,026 | +€15,781 | +4.1% |
| Profit (loss) for the period to be appropriated | 9905 | €384,245 | €400,026 | +€15,781 | +4.1% |
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 19 October 2026 via checked.be.