Van Gerwen & Vader: 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 Gerwen & Vader
Largest movements
- Current investments -€25,000
no longer reported in 2025 (was €25,000)
- Cash +€14,420
up €14,420 (+52.4%), from €27,531 to €41,951
mainly Current investments (+€25,000) and Receivables within one year (+€9,860)
- Receivables within one year -€9,860
down €9,860 (-71.8%), from €13,729 to €3,868
of which Trade receivables: -€10,727
- Tangible fixed assets +€4,590
up €4,590 (+325%), from €1,414 to €6,005
of which Furniture and vehicles: +€5,024
- Other debts -€13,728
down €13,728 (-43.7%), from €31,439 to €17,711
- Trade debts -€7,597
down €7,597 (-79.5%), from €9,557 to €1,961
- Tax, wage and social debts +€5,415
up €5,415 (+235%), from €2,306 to €7,720
- Gross operating margin -€5,762
down €5,762, from €4,328 to -€1,434
- Financial income +€4,172
up €4,172 (+10,430,300%), from €0 to €4,172
- Taxes -€894
down €894 (-40.6%), from €2,202 to €1,308
- Depreciation +€287
up €287 (+39.2%), from €734 to €1,021
- Financial charges -€130
down €130 (-16.1%), from €809 to €679
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 | €68,817 | €52,509 | -€16,308 | -23.7% |
| Fixed assets | 21/28 | €1,414 | €6,005 | +€4,590 | +325% |
| Tangible fixed assets | 22/27 | €1,414 | €6,005 | +€4,590 | +325% |
| Plant, machinery and equipment | 23 | €1,414 | €981 | -€434 | -30.7% |
| Furniture and vehicles | 24 | €0 | €5,024 | +€5,024 | +25,119,950% |
| Current assets | 29/58 | €67,403 | €46,504 | -€20,898 | -31.0% |
| Amounts receivable within one year | 40/41 | €13,729 | €3,868 | -€9,860 | -71.8% |
| Trade receivables | 40 | €13,394 | €2,667 | -€10,727 | -80.1% |
| Other amounts receivable | 41 | €335 | €1,201 | +€867 | +259% |
| Current investments | 50/53 | €25,000 | - | -€25,000 | |
| Cash at bank and in hand | 54/58 | €27,531 | €41,951 | +€14,420 | +52.4% |
| Deferred charges and accrued income | 490/1 | €1,144 | €685 | -€458 | -40.1% |
| Total equity and liabilities | 10/49 | €68,817 | €52,509 | -€16,308 | -23.7% |
| Equity | 10/15 | €25,415 | €25,017 | -€398 | -1.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €6,357 | €6,417 | +€60 | +0.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €4,497 | €4,557 | +€60 | +1.3% |
| Profit (loss) carried forward | 14 | €458 | - | -€458 | |
| Amounts payable | 17/49 | €43,402 | €27,492 | -€15,910 | -36.7% |
| Amounts payable within one year | 42/48 | €43,302 | €27,392 | -€15,910 | -36.7% |
| Trade debts | 44 | €9,557 | €1,961 | -€7,597 | -79.5% |
| Suppliers | 440/4 | €9,557 | €1,961 | -€7,597 | -79.5% |
| Taxes, remuneration and social security | 45 | €2,306 | €7,720 | +€5,415 | +235% |
| Taxes | 450/3 | €2,306 | €7,720 | +€5,415 | +235% |
| Other amounts payable | 47/48 | €31,439 | €17,711 | -€13,728 | -43.7% |
| Accrued charges and deferred income | 492/3 | €100 | €100 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €734 | €1,021 | +€287 | +39.2% |
| Other operating charges | 640/8 | €126 | €128 | +€2 | +1.6% |
| Gross operating margin | 9900 | €4,328 | -€1,434 | -€5,762 | |
| Operating profit (loss) | 9901 | €3,469 | -€2,583 | -€6,052 | |
| Financial income | 75/76B | €0 | €4,172 | +€4,172 | +10,430,300% |
| Recurring financial income | 75 | €0 | €4,172 | +€4,172 | +10,430,300% |
| Financial charges | 65/66B | €809 | €679 | -€130 | -16.1% |
| Recurring financial charges | 65 | €809 | €679 | -€130 | -16.1% |
| Profit (loss) for the period before taxes | 9903 | €2,660 | €910 | -€1,750 | -65.8% |
| Income taxes | 67/77 | €2,202 | €1,308 | -€894 | -40.6% |
| Profit (loss) for the period | 9904 | €458 | -€398 | -€856 | |
| Profit (loss) for the period to be appropriated | 9905 | €458 | -€398 | -€856 |
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 25 October 2026 via checked.be.