Van Doren: what changed
Two fiscal 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 Doren
Largest movements
- Tangible fixed assets -€12,879
down €12,879 (-21.6%), from €59,702 to €46,823
of which Plant, machinery and equipment: -€8,385
- Cash +€9,466
up €9,466 (+12.4%), from €76,376 to €85,843
mainly Net result for the year (+€31,486) and Depreciation (+€13,928)
- Receivables within one year +€2,686
up €2,686 (+21.0%), from €12,813 to €15,499
of which Other amounts receivable: +€2,248
- Debts after one year -€8,184
down €8,184 (-53.3%), from €15,342 to €7,159
- Reserves +€8,127
up €8,127 (+9.3%), from €87,623 to €95,749
of which Distributable reserves: +€8,127
- Current portion of long-term debt -€5,204
down €5,204 (-38.9%), from €13,388 to €8,184
- Other debts +€4,630
up €4,630 (+36.5%), from €12,675 to €17,305
- Financial income -€13,779
down €13,779 (-97.4%), from €14,144 to €366
of which Non-recurring financial income: -€14,027
- Gross operating margin +€9,938
up €9,938 (+21.9%), from €45,371 to €55,309
- Financial charges -€922
down €922 (-32.7%), from €2,817 to €1,896
of which Financial charges: -€538
- Taxes -€564
down €564 (-6.9%), from €8,213 to €7,649
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 | €151,658 | €150,286 | -€1,372 | -0.9% |
| Fixed assets | 21/28 | €59,702 | €46,823 | -€12,879 | -21.6% |
| Tangible fixed assets | 22/27 | €59,702 | €46,823 | -€12,879 | -21.6% |
| Plant, machinery and equipment | 23 | €43,279 | €34,894 | -€8,385 | -19.4% |
| Furniture and vehicles | 24 | €442 | €765 | +€322 | +72.8% |
| Leasing and similar rights | 25 | €15,981 | €11,164 | -€4,817 | -30.1% |
| Current assets | 29/58 | €91,956 | €103,463 | +€11,507 | +12.5% |
| Stocks and contracts in progress | 3 | €1,287 | €1,026 | -€261 | -20.3% |
| Stocks | 30/36 | €1,287 | €1,026 | -€261 | -20.3% |
| Amounts receivable within one year | 40/41 | €12,813 | €15,499 | +€2,686 | +21.0% |
| Trade receivables | 40 | €7,614 | €8,052 | +€437 | +5.7% |
| Other amounts receivable | 41 | €5,199 | €7,447 | +€2,248 | +43.2% |
| Cash at bank and in hand | 54/58 | €76,376 | €85,843 | +€9,466 | +12.4% |
| Deferred charges and accrued income | 490/1 | €1,479 | €1,096 | -€383 | -25.9% |
| Total equity and liabilities | 10/49 | €151,658 | €150,286 | -€1,372 | -0.9% |
| Equity | 10/15 | €106,223 | €114,349 | +€8,127 | +7.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €87,623 | €95,749 | +€8,127 | +9.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €85,763 | €93,889 | +€8,127 | +9.5% |
| Amounts payable | 17/49 | €45,435 | €35,936 | -€9,499 | -20.9% |
| Amounts payable after more than one year | 17 | €15,342 | €7,159 | -€8,184 | -53.3% |
| Financial debts | 170/4 | €15,342 | €7,159 | -€8,184 | -53.3% |
| Amounts payable within one year | 42/48 | €30,093 | €28,777 | -€1,315 | -4.4% |
| Current portion of amounts payable after more than one year | 42 | €13,388 | €8,184 | -€5,204 | -38.9% |
| Trade debts | 44 | €2,178 | €1,262 | -€916 | -42.1% |
| Suppliers | 440/4 | €2,178 | €1,262 | -€916 | -42.1% |
| Taxes, remuneration and social security | 45 | €1,853 | €2,027 | +€174 | +9.4% |
| Taxes | 450/3 | €1,853 | €2,027 | +€174 | +9.4% |
| Other amounts payable | 47/48 | €12,675 | €17,305 | +€4,630 | +36.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,770 | €13,928 | +€158 | +1.1% |
| Other operating charges | 640/8 | €889 | €716 | -€173 | -19.5% |
| Gross operating margin | 9900 | €45,371 | €55,309 | +€9,938 | +21.9% |
| Operating profit (loss) | 9901 | €30,712 | €40,665 | +€9,953 | +32.4% |
| Financial income | 75/76B | €14,144 | €366 | -€13,779 | -97.4% |
| Recurring financial income | 75 | €117 | €366 | +€249 | +211.9% |
| Non-recurring financial income | 76B | €14,027 | - | -€14,027 | |
| Financial charges | 65/66B | €2,817 | €1,896 | -€922 | -32.7% |
| Recurring financial charges | 65 | €1,342 | €804 | -€538 | -40.1% |
| Non-recurring financial charges | 66B | €1,475 | €1,092 | -€383 | -26.0% |
| Profit (loss) for the period before taxes | 9903 | €42,039 | €39,135 | -€2,904 | -6.9% |
| Income taxes | 67/77 | €8,213 | €7,649 | -€564 | -6.9% |
| Profit (loss) for the period | 9904 | €33,826 | €31,486 | -€2,340 | -6.9% |
| Profit (loss) for the period to be appropriated | 9905 | €33,826 | €31,486 | -€2,340 | -6.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.