van der Loeff: 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 der Loeff
Largest movements
- Cash +€68,055
up €68,055 (+510.9%), from €13,321 to €81,376
mainly Net result for the year (+€26,004) and Stocks and contracts (+€23,048)
- Stocks and contracts -€23,048
down €23,048 (-62.0%), from €37,200 to €14,152
- Reserves +€30,434
up €30,434 (+31.5%), from €96,511 to €126,944
of which Distributable reserves: +€32,294
- Trade debts +€17,324
up €17,324 (+167.9%), from €10,318 to €27,642
- Tax, wage and social debts +€6,698
up €6,698 (+19.1%), from €35,116 to €41,813
of which Taxes: +€5,458
- Profit (loss) carried forward -€4,430
down €4,430 (-100.0%), from €4,430 to €0
- Other debts -€3,247
down €3,247 (-100.0%), from €3,247 to €0
- Gross operating margin +€11,372
up €11,372 (+11.9%), from €95,867 to €107,239
- Financial charges +€6,851
up €6,851 (+252.1%), from €2,718 to €9,569
- Taxes +€6,186
up €6,186 (+46.6%), from €13,280 to €19,466
- Staff costs -€5,424
down €5,424 (-12.2%), from €44,448 to €39,024
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 | €155,821 | €202,600 | +€46,779 | +30.0% |
| Fixed assets | 21/28 | €45,812 | €45,455 | -€357 | -0.8% |
| Tangible fixed assets | 22/27 | €45,812 | €45,455 | -€357 | -0.8% |
| Plant, machinery and equipment | 23 | €42,705 | €41,219 | -€1,486 | -3.5% |
| Furniture and vehicles | 24 | €3,107 | €4,236 | +€1,129 | +36.3% |
| Current assets | 29/58 | €110,009 | €157,145 | +€47,136 | +42.8% |
| Stocks and contracts in progress | 3 | €37,200 | €14,152 | -€23,048 | -62.0% |
| Stocks | 30/36 | €37,200 | €14,152 | -€23,048 | -62.0% |
| Amounts receivable within one year | 40/41 | €55,293 | €56,599 | +€1,306 | +2.4% |
| Trade receivables | 40 | €55,293 | €48,513 | -€6,780 | -12.3% |
| Other amounts receivable | 41 | - | €8,087 | +€8,087 | |
| Cash at bank and in hand | 54/58 | €13,321 | €81,376 | +€68,055 | +510.9% |
| Deferred charges and accrued income | 490/1 | €4,196 | €5,017 | +€822 | +19.6% |
| Total equity and liabilities | 10/49 | €155,821 | €202,600 | +€46,779 | +30.0% |
| Equity | 10/15 | €107,141 | €133,144 | +€26,004 | +24.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €96,511 | €126,944 | +€30,434 | +31.5% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100.0% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100.0% |
| Distributable reserves | 133 | €94,651 | €126,944 | +€32,294 | +34.1% |
| Profit (loss) carried forward | 14 | €4,430 | €0 | -€4,430 | -100.0% |
| Amounts payable | 17/49 | €48,681 | €69,456 | +€20,775 | +42.7% |
| Amounts payable within one year | 42/48 | €48,681 | €69,456 | +€20,775 | +42.7% |
| Trade debts | 44 | €10,318 | €27,642 | +€17,324 | +167.9% |
| Suppliers | 440/4 | €10,318 | €27,642 | +€17,324 | +167.9% |
| Taxes, remuneration and social security | 45 | €35,116 | €41,813 | +€6,698 | +19.1% |
| Taxes | 450/3 | €24,380 | €29,838 | +€5,458 | +22.4% |
| Remuneration and social security | 454/9 | €10,736 | €11,976 | +€1,240 | +11.6% |
| Other amounts payable | 47/48 | €3,247 | €0 | -€3,247 | -100.0% |
| Remuneration, social security and pensions | 62 | €44,448 | €39,024 | -€5,424 | -12.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,877 | €9,671 | -€205 | -2.1% |
| Other operating charges | 640/8 | €3,511 | €3,506 | -€5 | -0.1% |
| Gross operating margin | 9900 | €95,867 | €107,239 | +€11,372 | +11.9% |
| Operating profit (loss) | 9901 | €38,032 | €55,038 | +€17,006 | +44.7% |
| Financial income | 75/76B | €8 | €1 | -€8 | -93.5% |
| Recurring financial income | 75 | €8 | €1 | -€8 | -93.5% |
| Financial charges | 65/66B | €2,718 | €9,569 | +€6,851 | +252.1% |
| Recurring financial charges | 65 | €2,718 | €9,569 | +€6,851 | +252.1% |
| Profit (loss) for the period before taxes | 9903 | €35,322 | €45,470 | +€10,148 | +28.7% |
| Income taxes | 67/77 | €13,280 | €19,466 | +€6,186 | +46.6% |
| Profit (loss) for the period | 9904 | €22,042 | €26,004 | +€3,961 | +18.0% |
| Profit (loss) for the period to be appropriated | 9905 | €22,042 | €26,004 | +€3,961 | +18.0% |
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 12 October 2026 via checked.be.