Van Ende - Mares: 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 Ende - Mares
Largest movements
- Current investments +€1.3m
up €1.3m (+23.2%), from €5.7m to €7.1m
- Receivables within one year -€491,212
down €491,212 (-14.0%), from €3.5m to €3.0m
of which Trade receivables: -€427,493
- Cash +€396,661
up €396,661 (+74.3%), from €534,126 to €930,786
mainly Net result for the year (+€1.5m) and Receivables within one year (+€491,212)
- Profit (loss) carried forward +€1.6m
up €1.6m (+15.7%), from €9.9m to €11.4m
- Tax, wage and social debts -€241,928
down €241,928 (-98.6%), from €245,418 to €3,490
- Gross operating margin -€500,188
down €500,188 (-29.1%), from €1.7m to €1.2m
- Financial income +€399,517
up €399,517 (+155%), from €257,118 to €656,635
- Taxes -€90,773
down €90,773 (-21.5%), from €422,337 to €331,565
- Financial charges -€56,679
down €56,679, from €19,284 to -€37,395
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,764,386 | €11,934,340 | +€1.2m | +10.9% |
| Fixed assets | 21/28 | €980,511 | €927,095 | -€53,416 | -5.4% |
| Tangible fixed assets | 22/27 | €980,511 | €927,095 | -€53,416 | -5.4% |
| Land and buildings | 22 | €859,894 | €830,930 | -€28,964 | -3.4% |
| Plant, machinery and equipment | 23 | €75,525 | €64,348 | -€11,178 | -14.8% |
| Furniture and vehicles | 24 | €45,091 | €31,817 | -€13,274 | -29.4% |
| Current assets | 29/58 | €9,783,875 | €11,007,245 | +€1.2m | +12.5% |
| Amounts receivable within one year | 40/41 | €3,506,844 | €3,015,632 | -€491,212 | -14.0% |
| Trade receivables | 40 | €1,700,918 | €1,273,425 | -€427,493 | -25.1% |
| Other amounts receivable | 41 | €1,805,926 | €1,742,207 | -€63,719 | -3.5% |
| Current investments | 50/53 | €5,730,242 | €7,059,592 | +€1.3m | +23.2% |
| Cash at bank and in hand | 54/58 | €534,126 | €930,786 | +€396,661 | +74.3% |
| Deferred charges and accrued income | 490/1 | €12,664 | €1,236 | -€11,429 | -90.2% |
| Total equity and liabilities | 10/49 | €10,764,386 | €11,934,340 | +€1.2m | +10.9% |
| Equity | 10/15 | €10,334,626 | €11,867,055 | +€1.5m | +14.8% |
| Contributions | 10/11 | €248,000 | €248,000 | = | 0.0% |
| Reserves | 13 | €215,316 | €197,039 | -€18,277 | -8.5% |
| Non-distributable reserves | 130/1 | €24,800 | €24,800 | = | 0.0% |
| Reserves not available under the articles | 1311 | €24,800 | €24,800 | = | 0.0% |
| Tax-exempt reserves | 132 | €100,242 | €81,964 | -€18,277 | -18.2% |
| Distributable reserves | 133 | €90,274 | €90,274 | = | 0.0% |
| Profit (loss) carried forward | 14 | €9,871,310 | €11,422,017 | +€1.6m | +15.7% |
| Provisions and deferred taxes | 16 | €51,617 | €42,205 | -€9,411 | -18.2% |
| Deferred taxes | 168 | €51,617 | €42,205 | -€9,411 | -18.2% |
| Amounts payable | 17/49 | €378,143 | €25,080 | -€353,063 | -93.4% |
| Amounts payable within one year | 42/48 | €378,143 | €25,080 | -€353,063 | -93.4% |
| Financial debts | 43 | €101,355 | €0 | -€101,355 | -100% |
| Credit institutions | 430/8 | €101,355 | €0 | -€101,355 | -100% |
| Trade debts | 44 | €31,371 | €21,257 | -€10,113 | -32.2% |
| Suppliers | 440/4 | €31,371 | €21,257 | -€10,113 | -32.2% |
| Taxes, remuneration and social security | 45 | €245,418 | €3,490 | -€241,928 | -98.6% |
| Taxes | 450/3 | €245,418 | €3,490 | -€241,928 | -98.6% |
| Other amounts payable | 47/48 | - | €333 | +€333 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,764 | €51,680 | +€917 | +1.8% |
| Other operating charges | 640/8 | €7,643 | €7,295 | -€348 | -4.6% |
| Gross operating margin | 9900 | €1,721,496 | €1,221,308 | -€500,188 | -29.1% |
| Operating profit (loss) | 9901 | €1,663,089 | €1,162,333 | -€500,756 | -30.1% |
| Financial income | 75/76B | €257,118 | €656,635 | +€399,517 | +155% |
| Recurring financial income | 75 | €257,118 | €656,635 | +€399,517 | +155% |
| Financial charges | 65/66B | €19,284 | -€37,395 | -€56,679 | |
| Recurring financial charges | 65 | €19,284 | -€37,395 | -€56,679 | |
| Profit (loss) for the period before taxes | 9903 | €1,900,923 | €1,856,363 | -€44,560 | -2.3% |
| Transfer from deferred taxes | 780 | €9,411 | €9,411 | = | 0.0% |
| Income taxes | 67/77 | €422,337 | €331,565 | -€90,773 | -21.5% |
| Profit (loss) for the period | 9904 | €1,487,997 | €1,534,209 | +€46,213 | +3.1% |
| Transfer from tax-exempt reserves | 789 | €18,277 | €18,277 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €1,506,274 | €1,552,486 | +€46,213 | +3.1% |
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 17 October 2026 via checked.be.