VAN DER AA: what changed
VAN DER AA
Largest movements
- Current investments -€1.0m
no longer reported in 2025 (was €1.0m)
- Cash +€487,646
up €487,646 (+60.1%), from €811,946 to €1.3m
mainly Current investments (+€1.0m) and Depreciation (+€182,419)
- Tangible fixed assets -€168,219
down €168,219 (-28.6%), from €587,345 to €419,126
of which Furniture and vehicles: -€94,421
- Stocks and contracts +€54,168
up €54,168 (+35.0%), from €154,959 to €209,127
of which Stocks: +€32,023
- Other debts -€645,858
down €645,858 (-97.5%), from €662,352 to €16,494
- Reserves +€164,935
up €164,935 (+10.1%), from €1.6m to €1.8m
of which Distributable reserves: +€164,935
- Tax, wage and social debts -€49,160
down €49,160 (-55.6%), from €88,492 to €39,332
of which Taxes: -€30,004
- Trade debts -€46,300
down €46,300 (-43.0%), from €107,582 to €61,282
- Debts after one year -€34,743
down €34,743 (-42.8%), from €81,142 to €46,399
- Gross operating margin -€119,835
down €119,835 (-10.5%), from €1.1m to €1.0m
- Staff costs +€52,337
up €52,337 (+9.7%), from €540,590 to €592,927
- Taxes -€44,902
down €44,902 (-35.0%), from €128,126 to €83,224
- Financial income -€38,299
down €38,299 (-74.4%), from €51,503 to €13,204
of which Financial income: -€23,299
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,666,366 | €2,056,184 | -€610,182 | -22.9% |
| Fixed assets | 21/28 | €588,328 | €420,109 | -€168,219 | -28.6% |
| Tangible fixed assets | 22/27 | €587,345 | €419,126 | -€168,219 | -28.6% |
| Land and buildings | 22 | €39,872 | €24,731 | -€15,141 | -38.0% |
| Plant, machinery and equipment | 23 | €282,886 | €224,229 | -€58,657 | -20.7% |
| Furniture and vehicles | 24 | €264,587 | €170,166 | -€94,421 | -35.7% |
| Financial fixed assets | 28 | €983 | €983 | = | 0.0% |
| Current assets | 29/58 | €2,078,038 | €1,636,075 | -€441,963 | -21.3% |
| Stocks and contracts in progress | 3 | €154,959 | €209,127 | +€54,168 | +35.0% |
| Stocks | 30/36 | €127,717 | €159,740 | +€32,023 | +25.1% |
| Contracts in progress | 37 | €27,242 | €49,387 | +€22,145 | +81.3% |
| Amounts receivable within one year | 40/41 | €101,159 | €103,413 | +€2,254 | +2.2% |
| Trade receivables | 40 | €47,300 | €56,039 | +€8,739 | +18.5% |
| Other amounts receivable | 41 | €53,859 | €47,374 | -€6,485 | -12.0% |
| Current investments | 50/53 | €1,000,000 | - | -€1.0m | |
| Cash at bank and in hand | 54/58 | €811,946 | €1,299,592 | +€487,646 | +60.1% |
| Deferred charges and accrued income | 490/1 | €9,974 | €23,943 | +€13,969 | +140% |
| Total equity and liabilities | 10/49 | €2,666,366 | €2,056,184 | -€610,182 | -22.9% |
| Equity | 10/15 | €1,689,381 | €1,854,316 | +€164,935 | +9.8% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €1,627,381 | €1,792,316 | +€164,935 | +10.1% |
| Non-distributable reserves | 130/1 | €42,200 | €42,200 | = | 0.0% |
| Legal reserve | 130 | €42,200 | €42,200 | = | 0.0% |
| Distributable reserves | 133 | €1,585,181 | €1,750,116 | +€164,935 | +10.4% |
| Amounts payable | 17/49 | €976,985 | €201,868 | -€775,117 | -79.3% |
| Amounts payable after more than one year | 17 | €81,142 | €46,399 | -€34,743 | -42.8% |
| Financial debts | 170/4 | €81,142 | €46,399 | -€34,743 | -42.8% |
| Amounts payable within one year | 42/48 | €892,801 | €151,852 | -€740,949 | -83.0% |
| Current portion of amounts payable after more than one year | 42 | €34,375 | €34,744 | +€369 | +1.1% |
| Trade debts | 44 | €107,582 | €61,282 | -€46,300 | -43.0% |
| Suppliers | 440/4 | €107,582 | €61,282 | -€46,300 | -43.0% |
| Taxes, remuneration and social security | 45 | €88,492 | €39,332 | -€49,160 | -55.6% |
| Taxes | 450/3 | €54,724 | €24,720 | -€30,004 | -54.8% |
| Remuneration and social security | 454/9 | €33,768 | €14,612 | -€19,156 | -56.7% |
| Other amounts payable | 47/48 | €662,352 | €16,494 | -€645,858 | -97.5% |
| Accrued charges and deferred income | 492/3 | €3,042 | €3,617 | +€575 | +18.9% |
| Remuneration, social security and pensions | 62 | €540,590 | €592,927 | +€52,337 | +9.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €173,889 | €182,419 | +€8,530 | +4.9% |
| Other operating charges | 640/8 | €4,189 | €6,934 | +€2,745 | +65.5% |
| Gross operating margin | 9900 | €1,141,428 | €1,021,593 | -€119,835 | -10.5% |
| Operating profit (loss) | 9901 | €422,760 | €239,313 | -€183,447 | -43.4% |
| Financial income | 75/76B | €51,503 | €13,204 | -€38,299 | -74.4% |
| Recurring financial income | 75 | €36,503 | €13,204 | -€23,299 | -63.8% |
| Non-recurring financial income | 76B | €15,000 | - | -€15,000 | |
| Financial charges | 65/66B | €3,116 | €2,691 | -€425 | -13.6% |
| Recurring financial charges | 65 | €3,116 | €2,691 | -€425 | -13.6% |
| Profit (loss) for the period before taxes | 9903 | €471,147 | €249,826 | -€221,321 | -47.0% |
| Income taxes | 67/77 | €128,126 | €83,224 | -€44,902 | -35.0% |
| Profit (loss) for the period | 9904 | €343,021 | €166,602 | -€176,419 | -51.4% |
| Profit (loss) for the period to be appropriated | 9905 | €343,021 | €166,602 | -€176,419 | -51.4% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.