VAN ENGELANDT STEVE: 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 ENGELANDT STEVE
Largest movements
- Stocks and contracts -€76,424
down €76,424 (-23.2%), from €329,714 to €253,290
- Cash +€20,614
up €20,614 (+102%), from €20,217 to €40,831
mainly Stocks and contracts (+€76,424) and Short-term financial debts (+€52,503)
- Tangible fixed assets -€10,454
down €10,454 (-3.9%), from €266,719 to €256,265
- Deferred charges and accrued income -€8,895
down €8,895 (-100%), from €8,895 to €0
- Receivables within one year -€8,089
down €8,089 (-38.5%), from €20,998 to €12,909
of which Other amounts receivable: -€8,392
- Reserves -€119,940
down €119,940 (-38.8%), from €309,076 to €189,136
- Short-term financial debts +€52,503
up €52,503 (+55.7%), from €94,320 to €146,823
- Debts after one year -€13,296
down €13,296 (-8.6%), from €154,018 to €140,722
- Gross operating margin -€34,151
down €34,151 (-34.2%), from €99,796 to €65,645
- Financial charges -€6,475
down €6,475 (-38.0%), from €17,057 to €10,583
- Taxes -€5,082
down €5,082 (-39.9%), from €12,741 to €7,659
- Other operating charges -€1,943
down €1,943 (-22.0%), from €8,832 to €6,889
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 | €646,544 | €563,295 | -€83,249 | -12.9% |
| Fixed assets | 21/28 | €266,719 | €256,265 | -€10,454 | -3.9% |
| Tangible fixed assets | 22/27 | €266,719 | €256,265 | -€10,454 | -3.9% |
| Land and buildings | 22 | €266,719 | €256,265 | -€10,454 | -3.9% |
| Current assets | 29/58 | €379,824 | €307,030 | -€72,794 | -19.2% |
| Stocks and contracts in progress | 3 | €329,714 | €253,290 | -€76,424 | -23.2% |
| Stocks | 30/36 | €329,714 | €253,290 | -€76,424 | -23.2% |
| Amounts receivable within one year | 40/41 | €20,998 | €12,909 | -€8,089 | -38.5% |
| Trade receivables | 40 | €6,947 | €7,250 | +€303 | +4.4% |
| Other amounts receivable | 41 | €14,051 | €5,659 | -€8,392 | -59.7% |
| Cash at bank and in hand | 54/58 | €20,217 | €40,831 | +€20,614 | +102% |
| Deferred charges and accrued income | 490/1 | €8,895 | €0 | -€8,895 | -100% |
| Total equity and liabilities | 10/49 | €646,544 | €563,295 | -€83,249 | -12.9% |
| Equity | 10/15 | €327,676 | €207,736 | -€119,940 | -36.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €309,076 | €189,136 | -€119,940 | -38.8% |
| Distributable reserves | 133 | €309,076 | €189,136 | -€119,940 | -38.8% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €318,868 | €355,559 | +€36,692 | +11.5% |
| Amounts payable after more than one year | 17 | €154,018 | €140,722 | -€13,296 | -8.6% |
| Financial debts | 170/4 | €154,018 | €140,722 | -€13,296 | -8.6% |
| Amounts payable within one year | 42/48 | €164,654 | €212,206 | +€47,552 | +28.9% |
| Current portion of amounts payable after more than one year | 42 | €13,296 | €13,296 | = | 0.0% |
| Financial debts | 43 | €94,320 | €146,823 | +€52,503 | +55.7% |
| Credit institutions | 430/8 | €94,320 | €146,823 | +€52,503 | +55.7% |
| Trade debts | 44 | €5,098 | €193 | -€4,905 | -96.2% |
| Suppliers | 440/4 | €5,098 | €193 | -€4,905 | -96.2% |
| Taxes, remuneration and social security | 45 | €10,664 | €8,796 | -€1,868 | -17.5% |
| Taxes | 450/3 | €6,730 | €5,697 | -€1,032 | -15.3% |
| Remuneration and social security | 454/9 | €3,935 | €3,099 | -€836 | -21.2% |
| Other amounts payable | 47/48 | €41,275 | €43,098 | +€1,822 | +4.4% |
| Accrued charges and deferred income | 492/3 | €196 | €2,632 | +€2,436 | +1,245% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,454 | €10,454 | = | 0.0% |
| Other operating charges | 640/8 | €8,832 | €6,889 | -€1,943 | -22.0% |
| Gross operating margin | 9900 | €99,796 | €65,645 | -€34,151 | -34.2% |
| Operating profit (loss) | 9901 | €80,510 | €48,302 | -€32,208 | -40.0% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €17,057 | €10,583 | -€6,475 | -38.0% |
| Recurring financial charges | 65 | €17,057 | €10,583 | -€6,475 | -38.0% |
| Profit (loss) for the period before taxes | 9903 | €63,453 | €37,719 | -€25,734 | -40.6% |
| Income taxes | 67/77 | €12,741 | €7,659 | -€5,082 | -39.9% |
| Profit (loss) for the period | 9904 | €50,712 | €30,060 | -€20,652 | -40.7% |
| Profit (loss) for the period to be appropriated | 9905 | €50,712 | €30,060 | -€20,652 | -40.7% |
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 31 October 2026 via checked.be.