VAN GELDER: 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 GELDER
Largest movements
- Tangible fixed assets -€38,973
down €38,973 (-16.1%), from €241,772 to €202,799
of which Plant, machinery and equipment: -€33,723
- Receivables within one year +€14,140
up €14,140 (+24.6%), from €57,407 to €71,547
of which Other amounts receivable: +€13,697
- Tax, wage and social debts -€19,131
down €19,131 (-70.4%), from €27,182 to €8,050
- Reserves -€9,707
down €9,707 (-1.6%), from €597,513 to €587,805
- Gross operating margin -€10,470
down €10,470 (-23.5%), from €44,518 to €34,048
- Depreciation -€617
down €617 (-1.4%), from €43,143 to €42,526
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 | €650,686 | €621,666 | -€29,020 | -4.5% |
| Fixed assets | 21/28 | €241,772 | €202,799 | -€38,973 | -16.1% |
| Tangible fixed assets | 22/27 | €241,772 | €202,799 | -€38,973 | -16.1% |
| Land and buildings | 22 | €120,566 | €112,557 | -€8,009 | -6.6% |
| Plant, machinery and equipment | 23 | €120,447 | €86,724 | -€33,723 | -28.0% |
| Furniture and vehicles | 24 | €759 | €3,518 | +€2,758 | +363% |
| Current assets | 29/58 | €408,913 | €418,867 | +€9,954 | +2.4% |
| Stocks and contracts in progress | 3 | €18,500 | €19,623 | +€1,123 | +6.1% |
| Stocks | 30/36 | €18,500 | €19,623 | +€1,123 | +6.1% |
| Amounts receivable within one year | 40/41 | €57,407 | €71,547 | +€14,140 | +24.6% |
| Trade receivables | 40 | €41,983 | €42,426 | +€443 | +1.1% |
| Other amounts receivable | 41 | €15,424 | €29,121 | +€13,697 | +88.8% |
| Cash at bank and in hand | 54/58 | €329,243 | €325,777 | -€3,466 | -1.1% |
| Deferred charges and accrued income | 490/1 | €3,763 | €1,919 | -€1,843 | -49.0% |
| Total equity and liabilities | 10/49 | €650,686 | €621,666 | -€29,020 | -4.5% |
| Equity | 10/15 | €617,513 | €607,805 | -€9,707 | -1.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €597,513 | €587,805 | -€9,707 | -1.6% |
| Distributable reserves | 133 | €597,513 | €587,805 | -€9,707 | -1.6% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €33,173 | €13,861 | -€19,312 | -58.2% |
| Amounts payable within one year | 42/48 | €33,173 | €13,861 | -€19,312 | -58.2% |
| Trade debts | 44 | €5,991 | €5,810 | -€181 | -3.0% |
| Suppliers | 440/4 | €5,991 | €5,810 | -€181 | -3.0% |
| Taxes, remuneration and social security | 45 | €27,182 | €8,050 | -€19,131 | -70.4% |
| Taxes | 450/3 | €27,182 | €8,050 | -€19,131 | -70.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,143 | €42,526 | -€617 | -1.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | €104 | +€104 | |
| Other operating charges | 640/8 | €1,870 | €1,924 | +€53 | +2.8% |
| Gross operating margin | 9900 | €44,518 | €34,048 | -€10,470 | -23.5% |
| Operating profit (loss) | 9901 | -€495 | -€10,506 | -€10,011 | -2,022% |
| Financial income | 75/76B | €2,313 | €2,719 | +€406 | +17.5% |
| Recurring financial income | 75 | €2,313 | €2,719 | +€406 | +17.5% |
| Financial charges | 65/66B | €906 | €1,094 | +€188 | +20.8% |
| Recurring financial charges | 65 | €906 | €1,094 | +€188 | +20.8% |
| Profit (loss) for the period before taxes | 9903 | €913 | -€8,881 | -€9,793 | |
| Income taxes | 67/77 | €789 | €827 | +€38 | +4.8% |
| Profit (loss) for the period | 9904 | €124 | -€9,707 | -€9,831 | |
| Profit (loss) for the period to be appropriated | 9905 | €124 | -€9,707 | -€9,831 |
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 16 October 2026 via checked.be.