Van Geem: 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 Geem
Largest movements
- Receivables after one year -€40,000
down €40,000 (-80.0%), from €50,000 to €10,000
- Tangible fixed assets +€39,720
up €39,720 (+1202.0%), from €3,304 to €43,025
of which Furniture and vehicles: +€41,531
- Receivables within one year -€37,959
down €37,959 (-68.8%), from €55,136 to €17,177
of which Other amounts receivable: -€40,030
- Current investments +€25,106
up €25,106 (+18.1%), from €138,610 to €163,715
- Debts after one year -€34,413
down €34,413 (-9.5%), from €361,884 to €327,471
- Current portion of long-term debt +€11,857
up €11,857 (+24.6%), from €48,182 to €60,039
- Financial charges +€37,847
up €37,847 (+562.9%), from €6,723 to €44,570
- Financial income +€34,658
up €34,658 (+360.4%), from €9,617 to €44,276
- Gross operating margin +€33,351
up €33,351 (+48.8%), from €68,317 to €101,668
- Taxes +€12,841
up €12,841 (+74.7%), from €17,196 to €30,037
- Depreciation +€8,203
up €8,203 (+453.0%), from €1,811 to €10,013
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 | €1,105,368 | €1,081,288 | -€24,080 | -2.2% |
| Fixed assets | 21/28 | €828,416 | €868,136 | +€39,720 | +4.8% |
| Tangible fixed assets | 22/27 | €3,304 | €43,025 | +€39,720 | +1202.0% |
| Plant, machinery and equipment | 23 | €3,304 | €1,494 | -€1,811 | -54.8% |
| Furniture and vehicles | 24 | - | €41,531 | +€41,531 | |
| Financial fixed assets | 28 | €825,111 | €825,111 | = | 0.0% |
| Current assets | 29/58 | €276,953 | €213,152 | -€63,800 | -23.0% |
| Amounts receivable after more than one year | 29 | €50,000 | €10,000 | -€40,000 | -80.0% |
| Other amounts receivable | 291 | €50,000 | €10,000 | -€40,000 | -80.0% |
| Amounts receivable within one year | 40/41 | €55,136 | €17,177 | -€37,959 | -68.8% |
| Trade receivables | 40 | €0 | €2,071 | +€2,071 | |
| Other amounts receivable | 41 | €55,136 | €15,106 | -€40,030 | -72.6% |
| Current investments | 50/53 | €138,610 | €163,715 | +€25,106 | +18.1% |
| Cash at bank and in hand | 54/58 | €31,685 | €21,818 | -€9,868 | -31.1% |
| Deferred charges and accrued income | 490/1 | €1,521 | €442 | -€1,079 | -70.9% |
| Total equity and liabilities | 10/49 | €1,105,368 | €1,081,288 | -€24,080 | -2.2% |
| Equity | 10/15 | €680,159 | €679,645 | -€514 | -0.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €661,450 | €660,936 | -€514 | -0.1% |
| Distributable reserves | 133 | €661,450 | €660,936 | -€514 | -0.1% |
| Profit (loss) carried forward | 14 | €109 | €109 | = | 0.0% |
| Amounts payable | 17/49 | €425,209 | €401,643 | -€23,566 | -5.5% |
| Amounts payable after more than one year | 17 | €361,884 | €327,471 | -€34,413 | -9.5% |
| Financial debts | 170/4 | €361,884 | €327,471 | -€34,413 | -9.5% |
| Amounts payable within one year | 42/48 | €62,119 | €74,172 | +€12,053 | +19.4% |
| Current portion of amounts payable after more than one year | 42 | €48,182 | €60,039 | +€11,857 | +24.6% |
| Trade debts | 44 | €1,128 | €2,124 | +€997 | +88.4% |
| Suppliers | 440/4 | €1,128 | €2,124 | +€997 | +88.4% |
| Taxes, remuneration and social security | 45 | €12,809 | €10,180 | -€2,629 | -20.5% |
| Taxes | 450/3 | €12,809 | €10,180 | -€2,629 | -20.5% |
| Other amounts payable | 47/48 | - | €1,829 | +€1,829 | |
| Accrued charges and deferred income | 492/3 | €1,206 | €0 | -€1,206 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,811 | €10,013 | +€8,203 | +453.0% |
| Other operating charges | 640/8 | €2,321 | €1,838 | -€483 | -20.8% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €68,317 | €101,668 | +€33,351 | +48.8% |
| Operating profit (loss) | 9901 | €64,186 | €89,818 | +€25,632 | +39.9% |
| Financial income | 75/76B | €9,617 | €44,276 | +€34,658 | +360.4% |
| Recurring financial income | 75 | €9,617 | €44,276 | +€34,658 | +360.4% |
| Financial charges | 65/66B | €6,723 | €44,570 | +€37,847 | +562.9% |
| Recurring financial charges | 65 | €6,723 | €44,570 | +€37,847 | +562.9% |
| Profit (loss) for the period before taxes | 9903 | €67,080 | €89,523 | +€22,443 | +33.5% |
| Income taxes | 67/77 | €17,196 | €30,037 | +€12,841 | +74.7% |
| Profit (loss) for the period | 9904 | €49,884 | €59,486 | +€9,602 | +19.2% |
| Profit (loss) for the period to be appropriated | 9905 | €49,884 | €59,486 | +€9,602 | +19.2% |
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 28 September 2026 via checked.be.