VAN GILS: 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 GILS
Largest movements
- Deferred charges and accrued income +€1.0m
up €1.0m (+3089.8%), from €33,549 to €1.1m
- Tangible fixed assets -€372,972
down €372,972 (-74.9%), from €498,142 to €125,171
of which Land and buildings: -€289,316
- Stocks and contracts -€229,154
down €229,154 (-26.1%), from €878,399 to €649,246
- Receivables within one year -€190,260
down €190,260 (-30.3%), from €628,706 to €438,447
of which Trade receivables: -€194,531
- Cash +€66,982
up €66,982 (+163.2%), from €41,052 to €108,034
mainly Accrued charges and deferred income (+€826,302) and Investment in fixed assets (net) (+€338,521)
- Accrued charges and deferred income +€826,302
up €826,302 (+13846.7%), from €5,968 to €832,270
- Short-term financial debts -€303,088
down €303,088 (-39.5%), from €767,254 to €464,166
- Debts after one year -€249,405
down €249,405 (-78.6%), from €317,480 to €68,076
- Tax, wage and social debts +€74,375
up €74,375 (+39.2%), from €189,519 to €263,893
of which Remuneration and social security: +€74,897
- Current portion of long-term debt -€54,433
down €54,433 (-46.6%), from €116,740 to €62,307
- Staff costs -€89,865
down €89,865 (-8.1%), from €1.1m to €1.0m
- Gross operating margin -€67,102
down €67,102 (-5.3%), from €1.3m to €1.2m
- Depreciation -€57,479
down €57,479 (-43.6%), from €131,876 to €74,397
- Financial charges -€20,483
down €20,483 (-22.2%), from €92,285 to €71,802
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 | €2,200,876 | €2,472,136 | +€271,260 | +12.3% |
| Fixed assets | 21/28 | €619,169 | €206,252 | -€412,917 | -66.7% |
| Intangible fixed assets | 21 | €117,632 | €77,687 | -€39,946 | -34.0% |
| Tangible fixed assets | 22/27 | €498,142 | €125,171 | -€372,972 | -74.9% |
| Land and buildings | 22 | €310,226 | €20,910 | -€289,316 | -93.3% |
| Plant, machinery and equipment | 23 | €10,806 | €10,515 | -€291 | -2.7% |
| Furniture and vehicles | 24 | €75,720 | €55,638 | -€20,082 | -26.5% |
| Leasing and similar rights | 25 | - | €29,623 | +€29,623 | |
| Other tangible fixed assets | 26 | €101,390 | €8,485 | -€92,905 | -91.6% |
| Financial fixed assets | 28 | €3,395 | €3,395 | = | 0.0% |
| Current assets | 29/58 | €1,581,707 | €2,265,884 | +€684,178 | +43.3% |
| Stocks and contracts in progress | 3 | €878,399 | €649,246 | -€229,154 | -26.1% |
| Stocks | 30/36 | €878,399 | €649,246 | -€229,154 | -26.1% |
| Amounts receivable within one year | 40/41 | €628,706 | €438,447 | -€190,260 | -30.3% |
| Trade receivables | 40 | €617,167 | €422,636 | -€194,531 | -31.5% |
| Other amounts receivable | 41 | €11,539 | €15,811 | +€4,271 | +37.0% |
| Cash at bank and in hand | 54/58 | €41,052 | €108,034 | +€66,982 | +163.2% |
| Deferred charges and accrued income | 490/1 | €33,549 | €1,070,158 | +€1.0m | +3089.8% |
| Total equity and liabilities | 10/49 | €2,200,876 | €2,472,136 | +€271,260 | +12.3% |
| Equity | 10/15 | €205,132 | €195,001 | -€10,131 | -4.9% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €143,632 | €143,632 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,021 | €2,021 | = | 0.0% |
| Legal reserve | 130 | €2,021 | €2,021 | = | 0.0% |
| Tax-exempt reserves | 132 | €16,956 | €16,956 | = | 0.0% |
| Distributable reserves | 133 | €124,654 | €124,654 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | -€10,131 | -€10,131 | |
| Amounts payable | 17/49 | €1,995,744 | €2,277,135 | +€281,391 | +14.1% |
| Amounts payable after more than one year | 17 | €317,480 | €68,076 | -€249,405 | -78.6% |
| Financial debts | 170/4 | €317,480 | €68,076 | -€249,405 | -78.6% |
| Amounts payable within one year | 42/48 | €1,672,296 | €1,376,790 | -€295,507 | -17.7% |
| Current portion of amounts payable after more than one year | 42 | €116,740 | €62,307 | -€54,433 | -46.6% |
| Financial debts | 43 | €767,254 | €464,166 | -€303,088 | -39.5% |
| Credit institutions | 430/8 | €767,254 | €464,166 | -€303,088 | -39.5% |
| Trade debts | 44 | €498,784 | €446,926 | -€51,858 | -10.4% |
| Suppliers | 440/4 | €498,784 | €446,926 | -€51,858 | -10.4% |
| Advances received on contracts in progress | 46 | - | €14,630 | +€14,630 | |
| Taxes, remuneration and social security | 45 | €189,519 | €263,893 | +€74,375 | +39.2% |
| Taxes | 450/3 | €141,347 | €140,824 | -€523 | -0.4% |
| Remuneration and social security | 454/9 | €48,172 | €123,069 | +€74,897 | +155.5% |
| Other amounts payable | 47/48 | €100,000 | €124,868 | +€24,868 | +24.9% |
| Accrued charges and deferred income | 492/3 | €5,968 | €832,270 | +€826,302 | +13846.7% |
| Non-recurring operating income | 76A | €107,226 | €362,856 | +€255,630 | +238.4% |
| Remuneration, social security and pensions | 62 | €1,113,750 | €1,023,885 | -€89,865 | -8.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €131,876 | €74,397 | -€57,479 | -43.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €19,821 | €24,429 | +€4,607 | +23.2% |
| Non-recurring operating charges | 66A | - | €9,718 | +€9,718 | |
| Gross operating margin | 9900 | €1,266,671 | €1,199,569 | -€67,102 | -5.3% |
| Operating profit (loss) | 9901 | €1,223 | €67,140 | +€65,917 | +5388.8% |
| Financial income | 75/76B | €11,708 | €3,669 | -€8,039 | -68.7% |
| Recurring financial income | 75 | €11,708 | €3,669 | -€8,039 | -68.7% |
| Financial charges | 65/66B | €92,285 | €71,802 | -€20,483 | -22.2% |
| Recurring financial charges | 65 | €92,285 | €71,802 | -€20,483 | -22.2% |
| Profit (loss) for the period before taxes | 9903 | -€79,354 | -€993 | +€78,361 | +98.7% |
| Income taxes | 67/77 | €4,400 | €9,138 | +€4,738 | +107.7% |
| Profit (loss) for the period | 9904 | -€83,754 | -€10,131 | +€73,623 | +87.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€83,754 | -€10,131 | +€73,623 | +87.9% |
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 11 October 2026 via checked.be.