Van Maele: 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 Maele
Largest movements
- Cash +€13,835
up €13,835 (+4.2%), from €328,983 to €342,818
mainly Net result for the year (+€8,614) and Receivables within one year (+€7,117)
- Receivables within one year -€7,117
down €7,117 (-39.3%), from €18,119 to €11,001
of which Trade receivables: -€7,275
- Reserves +€8,614
up €8,614 (+3.4%), from €256,281 to €264,894
- Tax, wage and social debts -€5,488
down €5,488 (-82.6%), from €6,642 to €1,154
- Gross operating margin -€17,925
down €17,925 (-47.8%), from €37,461 to €19,537
- Taxes -€6,305
down €6,305 (-61.1%), from €10,327 to €4,022
- Financial charges +€771
up €771 (+507.2%), from €152 to €923
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 | €410,719 | €412,814 | +€2,095 | +0.5% |
| Fixed assets | 21/28 | €48,648 | €44,695 | -€3,953 | -8.1% |
| Tangible fixed assets | 22/27 | €48,648 | €44,695 | -€3,953 | -8.1% |
| Land and buildings | 22 | €48,648 | €44,695 | -€3,953 | -8.1% |
| Current assets | 29/58 | €362,071 | €368,119 | +€6,048 | +1.7% |
| Amounts receivable within one year | 40/41 | €18,119 | €11,001 | -€7,117 | -39.3% |
| Trade receivables | 40 | €14,232 | €6,957 | -€7,275 | -51.1% |
| Other amounts receivable | 41 | €3,887 | €4,045 | +€158 | +4.1% |
| Current investments | 50/53 | €13,704 | €13,704 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €328,983 | €342,818 | +€13,835 | +4.2% |
| Deferred charges and accrued income | 490/1 | €1,266 | €596 | -€669 | -52.9% |
| Total equity and liabilities | 10/49 | €410,719 | €412,814 | +€2,095 | +0.5% |
| Equity | 10/15 | €399,814 | €408,428 | +€8,614 | +2.2% |
| Contributions | 10/11 | €143,533 | €143,533 | = | 0.0% |
| Reserves | 13 | €256,281 | €264,894 | +€8,614 | +3.4% |
| Distributable reserves | 133 | €256,281 | €264,894 | +€8,614 | +3.4% |
| Provisions and deferred taxes | 16 | €2,056 | €0 | -€2,056 | -100.0% |
| Provisions for liabilities and charges | 160/5 | €2,056 | €0 | -€2,056 | -100.0% |
| Major repairs and maintenance | 162 | €2,056 | €0 | -€2,056 | -100.0% |
| Amounts payable | 17/49 | €8,849 | €4,386 | -€4,463 | -50.4% |
| Amounts payable within one year | 42/48 | €8,849 | €4,275 | -€4,574 | -51.7% |
| Trade debts | 44 | €2,207 | €3,121 | +€913 | +41.4% |
| Suppliers | 440/4 | €2,207 | €3,121 | +€913 | +41.4% |
| Taxes, remuneration and social security | 45 | €6,642 | €1,154 | -€5,488 | -82.6% |
| Taxes | 450/3 | €6,642 | €1,154 | -€5,488 | -82.6% |
| Accrued charges and deferred income | 492/3 | - | €111 | +€111 | |
| Non-recurring operating income | 76A | - | €2,056 | +€2,056 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,953 | €3,953 | = | 0.0% |
| Other operating charges | 640/8 | €3,637 | €3,362 | -€275 | -7.6% |
| Gross operating margin | 9900 | €37,461 | €19,537 | -€17,925 | -47.8% |
| Operating profit (loss) | 9901 | €29,871 | €12,221 | -€17,649 | -59.1% |
| Financial income | 75/76B | €1,358 | €1,337 | -€21 | -1.6% |
| Recurring financial income | 75 | €1,358 | €1,337 | -€21 | -1.6% |
| Financial charges | 65/66B | €152 | €923 | +€771 | +507.2% |
| Recurring financial charges | 65 | €152 | €923 | +€771 | +507.2% |
| Profit (loss) for the period before taxes | 9903 | €31,077 | €12,635 | -€18,442 | -59.3% |
| Income taxes | 67/77 | €10,327 | €4,022 | -€6,305 | -61.1% |
| Profit (loss) for the period | 9904 | €20,751 | €8,614 | -€12,137 | -58.5% |
| Profit (loss) for the period to be appropriated | 9905 | €20,751 | €8,614 | -€12,137 | -58.5% |
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 4 October 2026 via checked.be.