VAN DEN ELSHOUT IT: 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 ELSHOUT IT
Largest movements
- Cash -€19,323
down €19,323 (-46.6%), from €41,491 to €22,169
mainly Other debts (-€50,000) and Debts after one year (-€20,437)
- Tangible fixed assets -€17,970
down €17,970 (-9.8%), from €183,451 to €165,481
of which Land and buildings: -€16,317
- Deferred charges and accrued income -€9,212
down €9,212 (-45.8%), from €20,133 to €10,921
- Receivables within one year -€8,996
down €8,996 (-91.5%), from €9,837 to €841
of which Trade receivables: -€9,837
- Current investments +€8,050
up €8,050 (+31.6%), from €25,500 to €33,550
- Other debts -€50,000
down €50,000 (-100%), from €50,000 to €0
- Reserves +€28,977
up €28,977 (+68.7%), from €42,191 to €71,168
- Debts after one year -€20,437
down €20,437 (-15.2%), from €134,212 to €113,775
- Tax, wage and social debts -€6,117
down €6,117 (-43.2%), from €14,166 to €8,049
- Gross operating margin -€6,731
down €6,731 (-10.0%), from €67,610 to €60,879
- Financial income +€1,718
up €1,718 (+1,429%), from €120 to €1,838
- Depreciation -€1,691
down €1,691 (-8.6%), from €19,661 to €17,970
- Taxes -€1,074
down €1,074 (-12.2%), from €8,784 to €7,710
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 | €280,411 | €232,961 | -€47,450 | -16.9% |
| Fixed assets | 21/28 | €183,451 | €165,481 | -€17,970 | -9.8% |
| Tangible fixed assets | 22/27 | €183,451 | €165,481 | -€17,970 | -9.8% |
| Land and buildings | 22 | €179,426 | €163,109 | -€16,317 | -9.1% |
| Plant, machinery and equipment | 23 | €737 | €0 | -€737 | -100% |
| Furniture and vehicles | 24 | €3,288 | €2,372 | -€916 | -27.8% |
| Current assets | 29/58 | €96,961 | €67,480 | -€29,481 | -30.4% |
| Amounts receivable within one year | 40/41 | €9,837 | €841 | -€8,996 | -91.5% |
| Trade receivables | 40 | €9,837 | €0 | -€9,837 | -100% |
| Other amounts receivable | 41 | - | €841 | +€841 | |
| Current investments | 50/53 | €25,500 | €33,550 | +€8,050 | +31.6% |
| Cash at bank and in hand | 54/58 | €41,491 | €22,169 | -€19,323 | -46.6% |
| Deferred charges and accrued income | 490/1 | €20,133 | €10,921 | -€9,212 | -45.8% |
| Total equity and liabilities | 10/49 | €280,411 | €232,961 | -€47,450 | -16.9% |
| Equity | 10/15 | €60,791 | €89,768 | +€28,977 | +47.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €42,191 | €71,168 | +€28,977 | +68.7% |
| Distributable reserves | 133 | €42,191 | €71,168 | +€28,977 | +68.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €219,620 | €143,193 | -€76,427 | -34.8% |
| Amounts payable after more than one year | 17 | €134,212 | €113,775 | -€20,437 | -15.2% |
| Financial debts | 170/4 | €134,212 | €113,775 | -€20,437 | -15.2% |
| Amounts payable within one year | 42/48 | €85,408 | €29,418 | -€55,990 | -65.6% |
| Current portion of amounts payable after more than one year | 42 | €19,879 | €20,437 | +€558 | +2.8% |
| Trade debts | 44 | €1,363 | €932 | -€431 | -31.6% |
| Suppliers | 440/4 | €1,363 | €932 | -€431 | -31.6% |
| Taxes, remuneration and social security | 45 | €14,166 | €8,049 | -€6,117 | -43.2% |
| Taxes | 450/3 | €14,166 | €8,049 | -€6,117 | -43.2% |
| Other amounts payable | 47/48 | €50,000 | €0 | -€50,000 | -100% |
| Non-recurring operating income | 76A | €5,065 | €0 | -€5,065 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,661 | €17,970 | -€1,691 | -8.6% |
| Other operating charges | 640/8 | €1,449 | €1,491 | +€42 | +2.9% |
| Gross operating margin | 9900 | €67,610 | €60,879 | -€6,731 | -10.0% |
| Operating profit (loss) | 9901 | €46,500 | €41,418 | -€5,083 | -10.9% |
| Financial income | 75/76B | €120 | €1,838 | +€1,718 | +1,429% |
| Recurring financial income | 75 | €120 | €1,838 | +€1,718 | +1,429% |
| Financial charges | 65/66B | €6,163 | €6,569 | +€405 | +6.6% |
| Recurring financial charges | 65 | €6,163 | €6,569 | +€405 | +6.6% |
| Profit (loss) for the period before taxes | 9903 | €40,457 | €36,687 | -€3,770 | -9.3% |
| Income taxes | 67/77 | €8,784 | €7,710 | -€1,074 | -12.2% |
| Profit (loss) for the period | 9904 | €31,673 | €28,977 | -€2,697 | -8.5% |
| Profit (loss) for the period to be appropriated | 9905 | €31,673 | €28,977 | -€2,697 | -8.5% |
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 18 October 2026 via checked.be.