VAN INVEST: 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 INVEST
Largest movements
- Tangible fixed assets -€6,385
down €6,385 (-5.1%), from €125,368 to €118,983
of which Land and buildings: -€6,385
- Cash -€2,235
down €2,235 (-83.5%), from €2,678 to €443
mainly Debts after one year (-€17,627) and Accrued charges and deferred income (-€1,976)
- Debts after one year -€17,627
down €17,627 (-25.4%), from €69,431 to €51,804
- Reserves +€5,590
up €5,590 (+17.1%), from €32,620 to €38,210
- Tax, wage and social debts +€2,798
up €2,798 (+74.1%), from €3,778 to €6,576
- Accrued charges and deferred income -€1,976
no longer reported in 2025 (was €1,976)
- Other debts +€1,830
up €1,830 (+19.3%), from €9,464 to €11,294
- Gross operating margin -€3,540
down €3,540 (-14.4%), from €24,523 to €20,984
- Taxes -€980
down €980 (-25.9%), from €3,778 to €2,798
- Financial charges -€822
down €822 (-17.1%), from €4,796 to €3,974
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 | €128,561 | €119,966 | -€8,595 | -6.7% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €125,368 | €118,983 | -€6,385 | -5.1% |
| Tangible fixed assets | 22/27 | €125,368 | €118,983 | -€6,385 | -5.1% |
| Land and buildings | 22 | €125,368 | €118,983 | -€6,385 | -5.1% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Current assets | 29/58 | €3,193 | €983 | -€2,210 | -69.2% |
| Cash at bank and in hand | 54/58 | €2,678 | €443 | -€2,235 | -83.5% |
| Deferred charges and accrued income | 490/1 | €516 | €541 | +€25 | +4.9% |
| Total equity and liabilities | 10/49 | €128,561 | €119,966 | -€8,595 | -6.7% |
| Equity | 10/15 | €26,466 | €32,057 | +€5,592 | +21.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €32,620 | €38,210 | +€5,590 | +17.1% |
| Distributable reserves | 133 | €32,620 | €38,210 | +€5,590 | +17.1% |
| Profit (loss) carried forward | 14 | -€24,754 | -€24,753 | +€2 | 0.0% |
| Amounts payable | 17/49 | €102,096 | €87,909 | -€14,187 | -13.9% |
| Amounts payable after more than one year | 17 | €69,431 | €51,804 | -€17,627 | -25.4% |
| Financial debts | 170/4 | €69,431 | €51,804 | -€17,627 | -25.4% |
| Amounts payable within one year | 42/48 | €30,689 | €36,105 | +€5,416 | +17.6% |
| Current portion of amounts payable after more than one year | 42 | €16,762 | €17,627 | +€865 | +5.2% |
| Trade debts | 44 | €685 | €608 | -€77 | -11.2% |
| Suppliers | 440/4 | €685 | €608 | -€77 | -11.2% |
| Taxes, remuneration and social security | 45 | €3,778 | €6,576 | +€2,798 | +74.1% |
| Taxes | 450/3 | €3,778 | €6,576 | +€2,798 | +74.1% |
| Other amounts payable | 47/48 | €9,464 | €11,294 | +€1,830 | +19.3% |
| Accrued charges and deferred income | 492/3 | €1,976 | - | -€1,976 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,385 | €6,385 | = | 0.0% |
| Other operating charges | 640/8 | €2,174 | €2,235 | +€61 | +2.8% |
| Gross operating margin | 9900 | €24,523 | €20,984 | -€3,540 | -14.4% |
| Operating profit (loss) | 9901 | €15,964 | €12,364 | -€3,601 | -22.6% |
| Financial charges | 65/66B | €4,796 | €3,974 | -€822 | -17.1% |
| Recurring financial charges | 65 | €4,796 | €3,974 | -€822 | -17.1% |
| Profit (loss) for the period before taxes | 9903 | €11,168 | €8,390 | -€2,778 | -24.9% |
| Income taxes | 67/77 | €3,778 | €2,798 | -€980 | -25.9% |
| Profit (loss) for the period | 9904 | €7,390 | €5,592 | -€1,798 | -24.3% |
| Profit (loss) for the period to be appropriated | 9905 | €7,390 | €5,592 | -€1,798 | -24.3% |
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 20 October 2026 via checked.be.