VAN EEPOEL H.: 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 EEPOEL H.
Largest movements
- Tangible fixed assets -€20,015
down €20,015 (-26.2%), from €76,343 to €56,328
of which Furniture and vehicles: -€20,462
- Receivables within one year +€10,626
up €10,626 (+20.3%), from €52,253 to €62,879
of which Trade receivables: +€10,814
- Cash -€10,354
down €10,354 (-5.5%), from €188,478 to €178,124
mainly Debts after one year (-€14,623) and Trade debts (-€10,774)
- Deferred charges and accrued income +€7,485
new in 2025: €7,485
- Stocks and contracts +€4,775
up €4,775 (+45.5%), from €10,486 to €15,261
- Debts after one year -€14,623
down €14,623 (-49.1%), from €29,762 to €15,139
- Tax, wage and social debts +€11,956
up €11,956 (+179.5%), from €6,661 to €18,617
of which Taxes: +€10,870
- Trade debts -€10,774
down €10,774 (-32.7%), from €32,932 to €22,158
- Reserves +€9,334
up €9,334 (+4.2%), from €219,931 to €229,266
- Current portion of long-term debt -€3,376
down €3,376 (-17.2%), from €19,682 to €16,306
- Gross operating margin -€61,792
down €61,792 (-26.3%), from €234,870 to €173,078
- Staff costs -€50,762
down €50,762 (-28.4%), from €178,999 to €128,237
- Taxes -€3,860
down €3,860 (-42.1%), from €9,170 to €5,310
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 | €327,560 | €320,077 | -€7,484 | -2.3% |
| Fixed assets | 21/28 | €76,343 | €56,328 | -€20,015 | -26.2% |
| Tangible fixed assets | 22/27 | €76,343 | €56,328 | -€20,015 | -26.2% |
| Plant, machinery and equipment | 23 | €3,483 | €1,244 | -€2,239 | -64.3% |
| Furniture and vehicles | 24 | €67,506 | €47,044 | -€20,462 | -30.3% |
| Other tangible fixed assets | 26 | €5,354 | €8,040 | +€2,686 | +50.2% |
| Current assets | 29/58 | €251,217 | €263,749 | +€12,531 | +5.0% |
| Stocks and contracts in progress | 3 | €10,486 | €15,261 | +€4,775 | +45.5% |
| Stocks | 30/36 | €10,486 | €15,261 | +€4,775 | +45.5% |
| Amounts receivable within one year | 40/41 | €52,253 | €62,879 | +€10,626 | +20.3% |
| Trade receivables | 40 | €38,359 | €49,173 | +€10,814 | +28.2% |
| Other amounts receivable | 41 | €13,894 | €13,706 | -€187 | -1.3% |
| Cash at bank and in hand | 54/58 | €188,478 | €178,124 | -€10,354 | -5.5% |
| Deferred charges and accrued income | 490/1 | - | €7,485 | +€7,485 | |
| Total equity and liabilities | 10/49 | €327,560 | €320,077 | -€7,484 | -2.3% |
| Equity | 10/15 | €238,523 | €247,858 | +€9,334 | +3.9% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €219,931 | €229,266 | +€9,334 | +4.2% |
| Distributable reserves | 133 | €219,931 | €229,266 | +€9,334 | +4.2% |
| Amounts payable | 17/49 | €89,037 | €72,219 | -€16,818 | -18.9% |
| Amounts payable after more than one year | 17 | €29,762 | €15,139 | -€14,623 | -49.1% |
| Financial debts | 170/4 | €29,762 | €15,139 | -€14,623 | -49.1% |
| Amounts payable within one year | 42/48 | €59,275 | €57,080 | -€2,195 | -3.7% |
| Current portion of amounts payable after more than one year | 42 | €19,682 | €16,306 | -€3,376 | -17.2% |
| Trade debts | 44 | €32,932 | €22,158 | -€10,774 | -32.7% |
| Suppliers | 440/4 | €32,932 | €22,158 | -€10,774 | -32.7% |
| Taxes, remuneration and social security | 45 | €6,661 | €18,617 | +€11,956 | +179.5% |
| Taxes | 450/3 | - | €10,870 | +€10,870 | |
| Remuneration and social security | 454/9 | €6,661 | €7,748 | +€1,087 | +16.3% |
| Remuneration, social security and pensions | 62 | €178,999 | €128,237 | -€50,762 | -28.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,814 | €25,681 | -€2,133 | -7.7% |
| Other operating charges | 640/8 | €2,632 | €3,295 | +€663 | +25.2% |
| Gross operating margin | 9900 | €234,870 | €173,078 | -€61,792 | -26.3% |
| Operating profit (loss) | 9901 | €25,425 | €15,865 | -€9,560 | -37.6% |
| Financial income | 75/76B | €611 | €735 | +€124 | +20.3% |
| Recurring financial income | 75 | €611 | €735 | +€124 | +20.3% |
| Financial charges | 65/66B | €831 | €1,954 | +€1,123 | +135.1% |
| Recurring financial charges | 65 | €831 | €1,954 | +€1,123 | +135.1% |
| Profit (loss) for the period before taxes | 9903 | €25,204 | €14,645 | -€10,560 | -41.9% |
| Income taxes | 67/77 | €9,170 | €5,310 | -€3,860 | -42.1% |
| Profit (loss) for the period | 9904 | €16,034 | €9,334 | -€6,700 | -41.8% |
| Profit (loss) for the period to be appropriated | 9905 | €16,034 | €9,334 | -€6,700 | -41.8% |
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 12 October 2026 via checked.be.