VAN MAERLANT: 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 MAERLANT
Largest movements
- Tangible fixed assets +€282,295
up €282,295 (+93.7%), from €301,293 to €583,588
of which Land and buildings: +€283,591
- Cash -€66,509
down €66,509 (-45.7%), from €145,689 to €79,180
mainly Investment in fixed assets (net) (-€310,006) and Contributions, distributions and other (-€50,000)
- Deferred charges and accrued income +€9,972
up €9,972 (+2,510%), from €397 to €10,369
- Receivables within one year -€7,475
down €7,475 (-12.5%), from €59,796 to €52,321
of which Trade receivables: -€20,814
- Debts after one year +€184,251
up €184,251 (+107%), from €171,980 to €356,231
- Other debts +€48,983
up €48,983 (+196%), from €24,941 to €73,924
- Profit (loss) carried forward -€40,376
down €40,376 (-14.9%), from €270,508 to €230,131
- Current portion of long-term debt +€27,561
up €27,561 (+140%), from €19,657 to €47,218
- Gross operating margin -€66,664
down €66,664 (-51.5%), from €129,452 to €62,788
- Taxes -€17,179
down €17,179 (-72.8%), from €23,593 to €6,414
- Depreciation +€9,278
up €9,278 (+50.3%), from €18,433 to €27,710
- Financial charges +€4,978
up €4,978 (+42.8%), from €11,629 to €16,607
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 | €515,176 | €733,459 | +€218,283 | +42.4% |
| Fixed assets | 21/28 | €309,293 | €591,588 | +€282,295 | +91.3% |
| Tangible fixed assets | 22/27 | €301,293 | €583,588 | +€282,295 | +93.7% |
| Land and buildings | 22 | €264,300 | €547,891 | +€283,591 | +107% |
| Plant, machinery and equipment | 23 | €2,138 | €5,109 | +€2,971 | +139% |
| Furniture and vehicles | 24 | €34,855 | €30,588 | -€4,267 | -12.2% |
| Financial fixed assets | 28 | €8,000 | €8,000 | = | 0.0% |
| Current assets | 29/58 | €205,883 | €141,871 | -€64,012 | -31.1% |
| Amounts receivable within one year | 40/41 | €59,796 | €52,321 | -€7,475 | -12.5% |
| Trade receivables | 40 | €59,774 | €38,960 | -€20,814 | -34.8% |
| Other amounts receivable | 41 | €22 | €13,361 | +€13,339 | +61,527% |
| Cash at bank and in hand | 54/58 | €145,689 | €79,180 | -€66,509 | -45.7% |
| Deferred charges and accrued income | 490/1 | €397 | €10,369 | +€9,972 | +2,510% |
| Total equity and liabilities | 10/49 | €515,176 | €733,459 | +€218,283 | +42.4% |
| Equity | 10/15 | €278,508 | €238,131 | -€40,376 | -14.5% |
| Contributions | 10/11 | €8,000 | €8,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €270,508 | €230,131 | -€40,376 | -14.9% |
| Amounts payable | 17/49 | €236,668 | €495,327 | +€258,659 | +109% |
| Amounts payable after more than one year | 17 | €171,980 | €356,231 | +€184,251 | +107% |
| Financial debts | 170/4 | €171,980 | €356,231 | +€184,251 | +107% |
| Amounts payable within one year | 42/48 | €64,688 | €139,096 | +€74,409 | +115% |
| Current portion of amounts payable after more than one year | 42 | €19,657 | €47,218 | +€27,561 | +140% |
| Financial debts | 43 | €420 | €192 | -€228 | -54.3% |
| Credit institutions | 430/8 | €420 | €192 | -€228 | -54.3% |
| Trade debts | 44 | €2,414 | €5,695 | +€3,281 | +136% |
| Suppliers | 440/4 | €2,414 | €5,695 | +€3,281 | +136% |
| Taxes, remuneration and social security | 45 | €17,255 | €12,067 | -€5,188 | -30.1% |
| Taxes | 450/3 | €17,255 | €12,067 | -€5,188 | -30.1% |
| Other amounts payable | 47/48 | €24,941 | €73,924 | +€48,983 | +196% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,433 | €27,710 | +€9,278 | +50.3% |
| Other operating charges | 640/8 | €1,614 | €2,436 | +€822 | +50.9% |
| Gross operating margin | 9900 | €129,452 | €62,788 | -€66,664 | -51.5% |
| Operating profit (loss) | 9901 | €109,405 | €32,642 | -€76,763 | -70.2% |
| Financial income | 75/76B | €24 | €3 | -€21 | -87.5% |
| Recurring financial income | 75 | €24 | €3 | -€21 | -87.5% |
| Financial charges | 65/66B | €11,629 | €16,607 | +€4,978 | +42.8% |
| Recurring financial charges | 65 | €11,629 | €16,607 | +€4,978 | +42.8% |
| Profit (loss) for the period before taxes | 9903 | €97,800 | €16,038 | -€81,762 | -83.6% |
| Income taxes | 67/77 | €23,593 | €6,414 | -€17,179 | -72.8% |
| Profit (loss) for the period | 9904 | €74,207 | €9,624 | -€64,583 | -87.0% |
| Profit (loss) for the period to be appropriated | 9905 | €74,207 | €9,624 | -€64,583 | -87.0% |
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 19 October 2026 via checked.be.