VAN IN: 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 IN
Largest movements
- Receivables within one year +€117,250
up €117,250 (+48.2%), from €243,124 to €360,374
of which Trade receivables: +€97,460
- Financial fixed assets -€65,000
down €65,000 (-13.0%), from €498,694 to €433,694
- Reserves +€44,511
up €44,511 (+8.6%), from €517,138 to €561,648
of which Distributable reserves: +€44,511
- Tax, wage and social debts -€38,153
down €38,153 (-58.8%), from €64,941 to €26,788
of which Taxes: -€39,482
- Trade debts +€21,272
up €21,272 (+199.7%), from €10,651 to €31,923
- Short-term financial debts +€20,844
up €20,844 (+246.7%), from €8,450 to €29,293
- Taxes -€21,936
down €21,936 (-41.9%), from €52,296 to €30,360
- Gross operating margin -€13,173
down €13,173 (-5.5%), from €238,262 to €225,089
- Staff costs +€9,157
up €9,157 (+14.0%), from €65,465 to €74,622
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 | €812,255 | €860,727 | +€48,473 | +6.0% |
| Fixed assets | 21/28 | €499,095 | €435,320 | -€63,775 | -12.8% |
| Tangible fixed assets | 22/27 | €401 | €1,625 | +€1,225 | +305.7% |
| Furniture and vehicles | 24 | €401 | €1,625 | +€1,225 | +305.7% |
| Financial fixed assets | 28 | €498,694 | €433,694 | -€65,000 | -13.0% |
| Current assets | 29/58 | €313,160 | €425,408 | +€112,248 | +35.8% |
| Amounts receivable after more than one year | 29 | €55,317 | €53,177 | -€2,139 | -3.9% |
| Other amounts receivable | 291 | €55,317 | €53,177 | -€2,139 | -3.9% |
| Amounts receivable within one year | 40/41 | €243,124 | €360,374 | +€117,250 | +48.2% |
| Trade receivables | 40 | €241,873 | €339,333 | +€97,460 | +40.3% |
| Other amounts receivable | 41 | €1,251 | €21,041 | +€19,790 | +1581.4% |
| Cash at bank and in hand | 54/58 | €14,322 | €11,857 | -€2,466 | -17.2% |
| Deferred charges and accrued income | 490/1 | €397 | €0 | -€397 | -100.0% |
| Total equity and liabilities | 10/49 | €812,255 | €860,727 | +€48,473 | +6.0% |
| Equity | 10/15 | €728,212 | €772,723 | +€44,511 | +6.1% |
| Contributions | 10/11 | €153,700 | €153,700 | = | 0.0% |
| Reserves | 13 | €517,138 | €561,648 | +€44,511 | +8.6% |
| Non-distributable reserves | 130/1 | €15,369 | €15,369 | = | 0.0% |
| Reserves not available under the articles | 1311 | €15,369 | €15,369 | = | 0.0% |
| Distributable reserves | 133 | €501,768 | €546,279 | +€44,511 | +8.9% |
| Profit (loss) carried forward | 14 | €57,375 | €57,375 | = | 0.0% |
| Amounts payable | 17/49 | €84,042 | €88,004 | +€3,962 | +4.7% |
| Amounts payable within one year | 42/48 | €84,042 | €88,004 | +€3,962 | +4.7% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €8,450 | €29,293 | +€20,844 | +246.7% |
| Credit institutions | 430/8 | €8,450 | €29,293 | +€20,844 | +246.7% |
| Trade debts | 44 | €10,651 | €31,923 | +€21,272 | +199.7% |
| Suppliers | 440/4 | €10,651 | €31,923 | +€21,272 | +199.7% |
| Taxes, remuneration and social security | 45 | €64,941 | €26,788 | -€38,153 | -58.8% |
| Taxes | 450/3 | €56,592 | €17,111 | -€39,482 | -69.8% |
| Remuneration and social security | 454/9 | €8,349 | €9,677 | +€1,329 | +15.9% |
| Accrued charges and deferred income | 492/3 | - | €0 | = | |
| Remuneration, social security and pensions | 62 | €65,465 | €74,622 | +€9,157 | +14.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €413 | €1,698 | +€1,285 | +311.0% |
| Other operating charges | 640/8 | €3,197 | €3,016 | -€181 | -5.7% |
| Gross operating margin | 9900 | €238,262 | €225,089 | -€13,173 | -5.5% |
| Operating profit (loss) | 9901 | €169,188 | €145,754 | -€23,433 | -13.9% |
| Financial income | 75/76B | €5,935 | €4,350 | -€1,585 | -26.7% |
| Recurring financial income | 75 | €5,935 | €4,350 | -€1,585 | -26.7% |
| Financial charges | 65/66B | €1,736 | €1,612 | -€124 | -7.1% |
| Recurring financial charges | 65 | €1,736 | €1,612 | -€124 | -7.1% |
| Profit (loss) for the period before taxes | 9903 | €173,387 | €148,492 | -€24,895 | -14.4% |
| Income taxes | 67/77 | €52,296 | €30,360 | -€21,936 | -41.9% |
| Profit (loss) for the period | 9904 | €121,090 | €118,132 | -€2,958 | -2.4% |
| Profit (loss) for the period to be appropriated | 9905 | €121,090 | €118,132 | -€2,958 | -2.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.