VAN DER KERKEN: 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.
What changed
VAN DER KERKEN
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€51,693
2024 · €114,479-€62,785
Equity
€1.2m
2024 · €1.1m+€51,693
Cash
€48,383
2024 · €42,737+€5,646
Balance sheet total
€2.1m
2024 · €2.2m-€82,868
Largest movements
Assets
- Tangible fixed assets -€87,790
down €87,790 (-4.3%), from €2.1m to €2.0m
of which Land and buildings: -€49,425
Equity and liabilities
- Debts after one year -€107,039
down €107,039 (-45.0%), from €237,817 to €130,778
- Reserves +€50,000
up €50,000 (+22.7%), from €219,930 to €269,930
of which Distributable reserves: +€50,000
- Current portion of long-term debt -€34,812
down €34,812 (-24.5%), from €141,851 to €107,039
Income statement
- Gross operating margin -€26,126
down €26,126 (-10.2%), from €255,844 to €229,718
- Taxes +€25,965
up €25,965 (+123%), from €21,089 to €47,054
- Depreciation +€5,115
up €5,115 (+6.0%), from €84,635 to €89,750
- Financial charges +€4,838
up €4,838 (+46.2%), from €10,477 to €15,315
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.
Result 2024
€114,479
Gross operating margin
-€26,126
Depreciation
-€5,115
Other operating charges
-€795
Other operating items
+€53
Financial charges
-€4,838
Taxes
-€25,965
Result 2025
€51,693
lowers the resultnot broken down further in the accounts
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.
From operations
+€149,457
Investment
-€1,960
Financing
-€141,851
Cash 2024
€42,737
From operations (derived)
+€149,457
Net result for the year
+€51,693
Depreciation
+€89,750
Receivables within one year
+€10,724
Deferred charges and accrued income
-€10,000
Trade debts
+€10,874
Tax, wage and social debts
+€4,074
Other debts
-€7,659
Investment (derived)
-€1,960
Investment in fixed assets (net)
-€1,960
Financing
-€141,851
Debts after one year
-€107,039
Current portion of long-term debt
-€34,812
Cash 2025
€48,383
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,165,335 | €2,082,467 | -€82,868 | -3.8% |
| Fixed assets | 21/28 | €2,056,933 | €1,969,143 | -€87,790 | -4.3% |
| Tangible fixed assets | 22/27 | €2,056,147 | €1,968,357 | -€87,790 | -4.3% |
| Land and buildings | 22 | €1,901,415 | €1,851,990 | -€49,425 | -2.6% |
| Plant, machinery and equipment | 23 | €26,567 | €15,217 | -€11,350 | -42.7% |
| Furniture and vehicles | 24 | €128,164 | €101,149 | -€27,015 | -21.1% |
| Financial fixed assets | 28 | €787 | €787 | = | 0.0% |
| Current assets | 29/58 | €108,402 | €113,324 | +€4,922 | +4.5% |
| Amounts receivable within one year | 40/41 | €65,665 | €54,942 | -€10,724 | -16.3% |
| Trade receivables | 40 | €53,506 | €54,878 | +€1,372 | +2.6% |
| Other amounts receivable | 41 | €12,160 | €64 | -€12,096 | -99.5% |
| Cash at bank and in hand | 54/58 | €42,737 | €48,383 | +€5,646 | +13.2% |
| Deferred charges and accrued income | 490/1 | - | €10,000 | +€10,000 | |
| Total equity and liabilities | 10/49 | €2,165,335 | €2,082,467 | -€82,868 | -3.8% |
| Equity | 10/15 | €1,118,204 | €1,169,897 | +€51,693 | +4.6% |
| Contributions | 10/11 | €636,773 | €636,773 | = | 0.0% |
| Capital | 10 | €636,773 | €636,773 | = | 0.0% |
| Issued capital | 100 | €636,773 | €636,773 | = | 0.0% |
| Reserves | 13 | €219,930 | €269,930 | +€50,000 | +22.7% |
| Non-distributable reserves | 130/1 | €63,680 | €63,680 | = | 0.0% |
| Legal reserve | 130 | €63,680 | €63,680 | = | 0.0% |
| Tax-exempt reserves | 132 | €56,250 | €56,250 | = | 0.0% |
| Distributable reserves | 133 | €100,000 | €150,000 | +€50,000 | +50.0% |
| Profit (loss) carried forward | 14 | €261,500 | €263,194 | +€1,693 | +0.6% |
| Provisions and deferred taxes | 16 | €50,000 | €50,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €50,000 | €50,000 | = | 0.0% |
| Major repairs and maintenance | 162 | €50,000 | €50,000 | = | 0.0% |
| Amounts payable | 17/49 | €997,131 | €862,570 | -€134,561 | -13.5% |
| Amounts payable after more than one year | 17 | €237,817 | €130,778 | -€107,039 | -45.0% |
| Financial debts | 170/4 | €237,817 | €130,778 | -€107,039 | -45.0% |
| Amounts payable within one year | 42/48 | €732,781 | €705,259 | -€27,522 | -3.8% |
| Current portion of amounts payable after more than one year | 42 | €141,851 | €107,039 | -€34,812 | -24.5% |
| Trade debts | 44 | €71,888 | €82,762 | +€10,874 | +15.1% |
| Suppliers | 440/4 | €71,888 | €82,762 | +€10,874 | +15.1% |
| Taxes, remuneration and social security | 45 | - | €4,074 | +€4,074 | |
| Taxes | 450/3 | - | €4,074 | +€4,074 | |
| Other amounts payable | 47/48 | €519,042 | €511,383 | -€7,659 | -1.5% |
| Accrued charges and deferred income | 492/3 | €26,533 | €26,533 | = | 0.0% |
| Non-recurring operating income | 76A | - | €14,700 | +€14,700 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €84,635 | €89,750 | +€5,115 | +6.0% |
| Other operating charges | 640/8 | €25,111 | €25,905 | +€795 | +3.2% |
| Non-recurring operating charges | 66A | €53 | - | -€53 | |
| Gross operating margin | 9900 | €255,844 | €229,718 | -€26,126 | -10.2% |
| Operating profit (loss) | 9901 | €146,045 | €114,063 | -€31,982 | -21.9% |
| Financial charges | 65/66B | €10,477 | €15,315 | +€4,838 | +46.2% |
| Recurring financial charges | 65 | €10,477 | €15,315 | +€4,838 | +46.2% |
| Profit (loss) for the period before taxes | 9903 | €135,568 | €98,748 | -€36,820 | -27.2% |
| Income taxes | 67/77 | €21,089 | €47,054 | +€25,965 | +123% |
| Profit (loss) for the period | 9904 | €114,479 | €51,693 | -€62,785 | -54.8% |
| Profit (loss) for the period to be appropriated | 9905 | €114,479 | €51,693 | -€62,785 | -54.8% |
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 26 October 2026 via checked.be.