VAN-GI & DEVOS: 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-GI & DEVOS
Largest movements
- Cash +€114,685
up €114,685 (+47.0%), from €243,920 to €358,605
mainly Net result for the year (+€133,044) and Depreciation (+€46,109)
- Receivables within one year +€29,107
up €29,107 (+22.7%), from €128,399 to €157,506
of which Other amounts receivable: +€23,499
- Intangible fixed assets -€15,495
down €15,495 (-52.3%), from €29,638 to €14,143
- Tangible fixed assets +€14,345
up €14,345 (+3.0%), from €479,401 to €493,746
of which Furniture and vehicles: +€26,264
- Reserves +€118,044
up €118,044 (+41.0%), from €288,230 to €406,274
of which Distributable reserves: +€118,044
- Debts after one year -€65,158
down €65,158 (-15.1%), from €431,293 to €366,135
- Accrued charges and deferred income +€41,480
new in 2025: €41,480
- Trade debts +€21,266
up €21,266 (+39.4%), from €53,911 to €75,177
- Tax, wage and social debts +€21,225
up €21,225 (+62.5%), from €33,961 to €55,186
- Gross operating margin +€36,711
up €36,711 (+17.9%), from €204,984 to €241,695
- Depreciation +€8,941
up €8,941 (+24.1%), from €37,168 to €46,109
- Other operating charges +€6,408
up €6,408 (+313.5%), from €2,044 to €8,452
- Taxes +€2,837
up €2,837 (+8.4%), from €33,630 to €36,467
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 | €931,779 | €1,083,402 | +€151,623 | +16.3% |
| Fixed assets | 21/28 | €509,039 | €507,890 | -€1,149 | -0.2% |
| Intangible fixed assets | 21 | €29,638 | €14,143 | -€15,495 | -52.3% |
| Tangible fixed assets | 22/27 | €479,401 | €493,746 | +€14,345 | +3.0% |
| Land and buildings | 22 | €404,960 | €400,379 | -€4,581 | -1.1% |
| Plant, machinery and equipment | 23 | €26,631 | €19,293 | -€7,338 | -27.6% |
| Furniture and vehicles | 24 | €47,810 | €74,074 | +€26,264 | +54.9% |
| Current assets | 29/58 | €422,740 | €575,512 | +€152,772 | +36.1% |
| Stocks and contracts in progress | 3 | €48,140 | €57,722 | +€9,582 | +19.9% |
| Stocks | 30/36 | €48,140 | €57,722 | +€9,582 | +19.9% |
| Amounts receivable within one year | 40/41 | €128,399 | €157,506 | +€29,107 | +22.7% |
| Trade receivables | 40 | €106,304 | €111,912 | +€5,608 | +5.3% |
| Other amounts receivable | 41 | €22,095 | €45,594 | +€23,499 | +106.4% |
| Cash at bank and in hand | 54/58 | €243,920 | €358,605 | +€114,685 | +47.0% |
| Deferred charges and accrued income | 490/1 | €2,281 | €1,679 | -€602 | -26.4% |
| Total equity and liabilities | 10/49 | €931,779 | €1,083,402 | +€151,623 | +16.3% |
| Equity | 10/15 | €294,430 | €412,474 | +€118,044 | +40.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €288,230 | €406,274 | +€118,044 | +41.0% |
| Non-distributable reserves | 130/1 | €1,153 | €1,153 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,153 | €1,153 | = | 0.0% |
| Distributable reserves | 133 | €287,077 | €405,122 | +€118,044 | +41.1% |
| Amounts payable | 17/49 | €637,349 | €670,927 | +€33,578 | +5.3% |
| Amounts payable after more than one year | 17 | €431,293 | €366,135 | -€65,158 | -15.1% |
| Financial debts | 170/4 | €431,293 | €366,135 | -€65,158 | -15.1% |
| Amounts payable within one year | 42/48 | €206,056 | €263,312 | +€57,257 | +27.8% |
| Current portion of amounts payable after more than one year | 42 | €38,184 | €37,949 | -€235 | -0.6% |
| Financial debts | 43 | €80,000 | €80,000 | = | 0.0% |
| Credit institutions | 430/8 | €80,000 | €80,000 | = | 0.0% |
| Trade debts | 44 | €53,911 | €75,177 | +€21,266 | +39.4% |
| Suppliers | 440/4 | €53,911 | €75,177 | +€21,266 | +39.4% |
| Taxes, remuneration and social security | 45 | €33,961 | €55,186 | +€21,225 | +62.5% |
| Taxes | 450/3 | €33,961 | €55,186 | +€21,225 | +62.5% |
| Other amounts payable | 47/48 | - | €15,000 | +€15,000 | |
| Accrued charges and deferred income | 492/3 | - | €41,480 | +€41,480 | |
| Non-recurring operating income | 76A | - | €2,847 | +€2,847 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,168 | €46,109 | +€8,941 | +24.1% |
| Other operating charges | 640/8 | €2,044 | €8,452 | +€6,408 | +313.5% |
| Gross operating margin | 9900 | €204,984 | €241,695 | +€36,711 | +17.9% |
| Operating profit (loss) | 9901 | €165,772 | €187,134 | +€21,361 | +12.9% |
| Financial income | 75/76B | €2,737 | €1,983 | -€753 | -27.5% |
| Recurring financial income | 75 | €2,737 | €1,983 | -€753 | -27.5% |
| Financial charges | 65/66B | €20,635 | €19,606 | -€1,029 | -5.0% |
| Recurring financial charges | 65 | €20,635 | €19,606 | -€1,029 | -5.0% |
| Profit (loss) for the period before taxes | 9903 | €147,874 | €169,511 | +€21,637 | +14.6% |
| Income taxes | 67/77 | €33,630 | €36,467 | +€2,837 | +8.4% |
| Profit (loss) for the period | 9904 | €114,244 | €133,044 | +€18,800 | +16.5% |
| Profit (loss) for the period to be appropriated | 9905 | €114,244 | €133,044 | +€18,800 | +16.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.