VAN GOEYE: 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.
What changed
VAN GOEYE
NACE 70.100, Activities of head offices
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€4.9m
2024 · €425,850+€4.4m
Equity
€16.1m
2024 · €11.4m+€4.7m
Cash
€590,309
2024 · €380,481+€209,828
Balance sheet total
€17.9m
2024 · €12.9m+€5.0m
Largest movements
Assets
- Financial fixed assets +€4.1m
up €4.1m (+42.4%), from €9.8m to €13.9m
of which Affiliated companies: +€4.1m
- Receivables after one year +€415,663
up €415,663 (+51.8%), from €802,900 to €1.2m
- Current investments +€250,830
up €250,830 (+40.1%), from €626,029 to €876,859
- Cash +€209,828
up €209,828 (+55.1%), from €380,481 to €590,309
mainly Net result for the year (+€4.9m) and Debts after one year (+€214,446)
Equity and liabilities
- Profit (loss) carried forward +€4.7m
new in 2025: €4.7m
- Debts after one year +€214,446
up €214,446 (+40.4%), from €530,651 to €745,097
Income statement
- Financial charges -€4.1m
down €4.1m, from €168,583 to -€3.9m
of which Financial charges: -€4.0m
- Turnover +€251,061
up €251,061 (+22.0%), from €1.1m to €1.4m
- Financial income +€226,634
up €226,634 (+52.6%), from €430,948 to €657,582
- Staff costs +€196,837
up €196,837 (+103%), from €191,455 to €388,292
- Services and other goods -€22,488
down €22,488 (-3.4%), from €662,612 to €640,123
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.
Result 2024
€425,850
Turnover
+€251,061
Other operating income
+€16,259
Services and other goods
+€22,488
Staff costs
-€196,837
Depreciation
-€8,551
Other operating charges
-€583
Financial income
+€226,634
Financial charges
+€4.1m
Taxes
+€8,515
Result 2025
€4.9m
raises the resultlowers the result
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.
From operations
+€4.7m
Investment
-€4.6m
Financing
+€108,706
Cash 2024
€380,481
From operations (derived)
+€4.7m
Net result for the year
+€4.9m
Depreciation
+€114,430
Receivables after one year
-€415,663
Receivables within one year
+€158,573
Deferred charges and accrued income
-€6,079
Trade debts
+€71,610
Tax, wage and social debts
+€14,477
Other debts
-€40,000
Accrued charges and deferred income
-€13,842
Investment (derived)
-€4.6m
Investment in fixed assets (net)
-€4.4m
Current investments
-€250,830
Financing
+€108,706
Debts after one year
+€214,446
Current portion of long-term debt
+€54,360
Short-term financial debts
-€99
Contributions, distributions and other
-€160,000
Cash 2025
€590,309
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €12,874,575 | €17,865,804 | +€5.0m | +38.8% |
| Fixed assets | 21/28 | €10,689,743 | €14,957,146 | +€4.3m | +39.9% |
| Tangible fixed assets | 22/27 | €930,763 | €1,055,649 | +€124,886 | +13.4% |
| Land and buildings | 22 | €927,738 | €1,053,174 | +€125,436 | +13.5% |
| Other tangible fixed assets | 26 | €3,025 | €2,475 | -€550 | -18.2% |
| Financial fixed assets | 28 | €9,758,980 | €13,901,497 | +€4.1m | +42.4% |
| Affiliated companies | 280/1 | €9,433,845 | €13,536,366 | +€4.1m | +43.5% |
| Participating interests | 280 | €9,433,845 | €13,536,366 | +€4.1m | +43.5% |
| Other financial fixed assets | 284/8 | €325,135 | €365,131 | +€39,996 | +12.3% |
| Shares | 284 | €325,135 | €365,131 | +€39,996 | +12.3% |
| Current assets | 29/58 | €2,184,832 | €2,908,659 | +€723,827 | +33.1% |
| Amounts receivable after more than one year | 29 | €802,900 | €1,218,562 | +€415,663 | +51.8% |
| Other amounts receivable | 291 | €802,900 | €1,218,562 | +€415,663 | +51.8% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €338,449 | €179,876 | -€158,573 | -46.9% |
| Trade receivables | 40 | €126,028 | €145,022 | +€18,994 | +15.1% |
| Other amounts receivable | 41 | €212,421 | €34,854 | -€177,567 | -83.6% |
| Current investments | 50/53 | €626,029 | €876,859 | +€250,830 | +40.1% |
| Other investments | 51/53 | €626,029 | €876,859 | +€250,830 | +40.1% |
| Cash at bank and in hand | 54/58 | €380,481 | €590,309 | +€209,828 | +55.1% |
| Deferred charges and accrued income | 490/1 | €36,973 | €43,052 | +€6,079 | +16.4% |
| Total equity and liabilities | 10/49 | €12,874,575 | €17,865,804 | +€5.0m | +38.8% |
| Equity | 10/15 | €11,441,154 | €16,131,432 | +€4.7m | +41.0% |
| Contributions | 10/11 | €1,645,000 | €1,645,000 | = | 0.0% |
| Reserves | 13 | €9,796,154 | €9,796,154 | = | 0.0% |
| Distributable reserves | 133 | €9,796,154 | €9,796,154 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €4,690,278 | +€4.7m | |
| Amounts payable | 17/49 | €1,433,421 | €1,734,372 | +€300,951 | +21.0% |
| Amounts payable after more than one year | 17 | €530,651 | €745,097 | +€214,446 | +40.4% |
| Financial debts | 170/4 | €530,651 | €745,097 | +€214,446 | +40.4% |
| Credit institutions | 173 | €530,651 | €745,097 | +€214,446 | +40.4% |
| Amounts payable within one year | 42/48 | €852,863 | €953,211 | +€100,347 | +11.8% |
| Current portion of amounts payable after more than one year | 42 | €42,036 | €96,396 | +€54,360 | +129% |
| Financial debts | 43 | €99 | €0 | -€99 | -100% |
| Credit institutions | 430/8 | €99 | €0 | -€99 | -100% |
| Trade debts | 44 | €86,450 | €158,060 | +€71,610 | +82.8% |
| Suppliers | 440/4 | €86,450 | €158,060 | +€71,610 | +82.8% |
| Taxes, remuneration and social security | 45 | €24,278 | €38,755 | +€14,477 | +59.6% |
| Taxes | 450/3 | €4,591 | €208 | -€4,383 | -95.5% |
| Remuneration and social security | 454/9 | €19,687 | €38,547 | +€18,860 | +95.8% |
| Other amounts payable | 47/48 | €700,000 | €660,000 | -€40,000 | -5.7% |
| Accrued charges and deferred income | 492/3 | €49,907 | €36,065 | -€13,842 | -27.7% |
| Operating income | 70/76A | €1,184,949 | €1,452,269 | +€267,321 | +22.6% |
| Turnover | 70 | €1,138,815 | €1,389,876 | +€251,061 | +22.0% |
| Other operating income | 74 | €46,134 | €62,393 | +€16,259 | +35.2% |
| Operating charges | 60/66A | €981,819 | €1,165,302 | +€183,484 | +18.7% |
| Services and other goods | 61 | €662,612 | €640,123 | -€22,488 | -3.4% |
| Remuneration, social security and pensions | 62 | €191,455 | €388,292 | +€196,837 | +103% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €105,879 | €114,430 | +€8,551 | +8.1% |
| Other operating charges | 640/8 | €21,873 | €22,456 | +€583 | +2.7% |
| Operating profit (loss) | 9901 | €203,130 | €286,967 | +€83,837 | +41.3% |
| Financial income | 75/76B | €430,948 | €657,582 | +€226,634 | +52.6% |
| Recurring financial income | 75 | €430,948 | €657,582 | +€226,634 | +52.6% |
| Income from financial fixed assets | 750 | €410,010 | €610,935 | +€200,925 | +49.0% |
| Income from current assets | 751 | €15,933 | €40,441 | +€24,508 | +154% |
| Other financial income | 752/9 | €5,006 | €6,206 | +€1,201 | +24.0% |
| Financial charges | 65/66B | €168,583 | -€3,936,860 | -€4.1m | |
| Recurring financial charges | 65 | €68,583 | -€3,936,860 | -€4.0m | |
| Debt charges | 650 | €68,582 | €55,735 | -€12,847 | -18.7% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | - | -€3,992,594 | -€4.0m | |
| Other financial charges | 652/9 | €1 | €0 | -€1 | -94.0% |
| Non-recurring financial charges | 66B | €100,000 | €0 | -€100,000 | -100% |
| Profit (loss) for the period before taxes | 9903 | €465,495 | €4,881,408 | +€4.4m | +949% |
| Income taxes | 67/77 | €39,646 | €31,130 | -€8,515 | -21.5% |
| Taxes | 670/3 | €39,646 | €31,130 | -€8,515 | -21.5% |
| Profit (loss) for the period | 9904 | €425,850 | €4,850,278 | +€4.4m | +1,039% |
| Profit (loss) for the period to be appropriated | 9905 | €425,850 | €4,850,278 | +€4.4m | +1,039% |
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 27 October 2026 via checked.be.