VAN GENECHTEN: 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 GENECHTEN
Largest movements
- Receivables after one year +€212,950
up €212,950 (+33.4%), from €637,085 to €850,035
- Tangible fixed assets +€208,047
up €208,047 (+159%), from €131,159 to €339,206
of which Other tangible fixed assets: +€221,299
- Current investments -€150,000
no longer reported in 2025 (was €150,000)
- Cash +€109,850
up €109,850 (+664%), from €16,550 to €126,399
mainly Net result for the year (+€516,197) and Debts after one year (+€206,501)
- Receivables within one year -€15,765
down €15,765 (-30.9%), from €51,037 to €35,271
of which Other amounts receivable: -€15,820
- Reserves +€446,197
new in 2025: €446,197
- Profit (loss) carried forward -€280,000
down €280,000 (-98.6%), from €284,076 to €4,076
- Debts after one year +€206,501
new in 2025: €206,501
- Other debts -€54,151
down €54,151 (-7.7%), from €699,853 to €645,702
- Tax, wage and social debts +€43,242
up €43,242 (+1,138%), from €3,800 to €47,042
- Gross operating margin +€147,695
up €147,695 (+25.4%), from €581,196 to €728,890
- Taxes +€80,755
up €80,755 (+54.6%), from €147,930 to €228,685
- Financial income +€13,377
up €13,377 (+36.8%), from €36,331 to €49,708
- Depreciation +€8,902
up €8,902 (+70.4%), from €12,641 to €21,543
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 | €1,025,618 | €1,404,910 | +€379,293 | +37.0% |
| Fixed assets | 21/28 | €131,159 | €339,206 | +€208,047 | +159% |
| Tangible fixed assets | 22/27 | €131,159 | €339,206 | +€208,047 | +159% |
| Land and buildings | 22 | €12,073 | €10,506 | -€1,567 | -13.0% |
| Plant, machinery and equipment | 23 | €3,776 | €3,122 | -€654 | -17.3% |
| Furniture and vehicles | 24 | €50,611 | €39,580 | -€11,030 | -21.8% |
| Other tangible fixed assets | 26 | €64,699 | €285,997 | +€221,299 | +342% |
| Current assets | 29/58 | €894,459 | €1,065,704 | +€171,245 | +19.1% |
| Amounts receivable after more than one year | 29 | €637,085 | €850,035 | +€212,950 | +33.4% |
| Other amounts receivable | 291 | €637,085 | €850,035 | +€212,950 | +33.4% |
| Amounts receivable within one year | 40/41 | €51,037 | €35,271 | -€15,765 | -30.9% |
| Trade receivables | 40 | - | €55 | +€55 | |
| Other amounts receivable | 41 | €51,037 | €35,216 | -€15,820 | -31.0% |
| Current investments | 50/53 | €150,000 | - | -€150,000 | |
| Cash at bank and in hand | 54/58 | €16,550 | €126,399 | +€109,850 | +664% |
| Deferred charges and accrued income | 490/1 | €39,788 | €53,999 | +€14,211 | +35.7% |
| Total equity and liabilities | 10/49 | €1,025,618 | €1,404,910 | +€379,293 | +37.0% |
| Equity | 10/15 | €302,626 | €468,824 | +€166,197 | +54.9% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | - | €446,197 | +€446,197 | |
| Distributable reserves | 133 | - | €446,197 | +€446,197 | |
| Profit (loss) carried forward | 14 | €284,076 | €4,076 | -€280,000 | -98.6% |
| Amounts payable | 17/49 | €722,991 | €936,087 | +€213,095 | +29.5% |
| Amounts payable after more than one year | 17 | - | €206,501 | +€206,501 | |
| Financial debts | 170/4 | - | €206,501 | +€206,501 | |
| Amounts payable within one year | 42/48 | €713,478 | €722,138 | +€8,660 | +1.2% |
| Current portion of amounts payable after more than one year | 42 | - | €2,907 | +€2,907 | |
| Trade debts | 44 | €9,825 | €26,487 | +€16,662 | +170% |
| Suppliers | 440/4 | €9,825 | €26,487 | +€16,662 | +170% |
| Taxes, remuneration and social security | 45 | €3,800 | €47,042 | +€43,242 | +1,138% |
| Taxes | 450/3 | €3,800 | €47,042 | +€43,242 | +1,138% |
| Other amounts payable | 47/48 | €699,853 | €645,702 | -€54,151 | -7.7% |
| Accrued charges and deferred income | 492/3 | €9,513 | €7,448 | -€2,066 | -21.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,641 | €21,543 | +€8,902 | +70.4% |
| Other operating charges | 640/8 | €845 | €986 | +€140 | +16.6% |
| Gross operating margin | 9900 | €581,196 | €728,890 | +€147,695 | +25.4% |
| Operating profit (loss) | 9901 | €567,710 | €706,362 | +€138,652 | +24.4% |
| Financial income | 75/76B | €36,331 | €49,708 | +€13,377 | +36.8% |
| Recurring financial income | 75 | €36,331 | €49,708 | +€13,377 | +36.8% |
| Financial charges | 65/66B | €5,206 | €11,188 | +€5,982 | +115% |
| Recurring financial charges | 65 | €5,206 | €11,188 | +€5,982 | +115% |
| Profit (loss) for the period before taxes | 9903 | €598,835 | €744,883 | +€146,048 | +24.4% |
| Income taxes | 67/77 | €147,930 | €228,685 | +€80,755 | +54.6% |
| Profit (loss) for the period | 9904 | €450,905 | €516,197 | +€65,293 | +14.5% |
| Profit (loss) for the period to be appropriated | 9905 | €450,905 | €516,197 | +€65,293 | +14.5% |
Source: filed annual accounts (NBB), financial years ended 30 November 2024 and 30 November 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.