VAN MOER GROUP: what changed
What changed
VAN MOER GROUP
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€7.4m
2024 · -€1.5m+€9.0m
Equity
€64.8m
2024 · €57.3m+€7.4m
Cash
€23.1m
2024 · €21.9m+€1.2m
Balance sheet total
€114.7m
2024 · €102.9m+€11.8m
Largest movements
Assets
- Financial fixed assets +€13.9m
up €13.9m (+19.2%), from €72.5m to €86.4m
of which Affiliated companies: +€13.9m
- Receivables within one year -€2.8m
down €2.8m (-89.9%), from €3.1m to €310,622
of which Other amounts receivable: -€2.7m
- Cash +€1.2m
up €1.2m (+5.6%), from €21.9m to €23.1m
mainly Net result for the year (+€7.4m) and Debts after one year (+€3.7m)
Equity and liabilities
- Profit (loss) carried forward +€7.2m
up €7.2m, from -€2.4m to €4.8m
- Debts after one year +€3.7m
up €3.7m (+9.8%), from €37.6m to €41.3m
of which Other amounts payable: +€6.0m
Income statement
- Financial income +€6.8m
up €6.8m (+440%), from €1.5m to €8.3m
of which Non-recurring financial income: +€5.6m
- Financial charges -€3.7m
down €3.7m (-64.6%), from €5.7m to €2.0m
of which Financial charges: -€3.5m
- Turnover -€1.8m
down €1.8m (-98.6%), from €1.8m to €25,150
- Other operating income +€1.0m
up €1.0m (+4.8%), from €20.9m to €21.9m
- Services and other goods +€594,944
up €594,944 (+5.7%), from €10.5m to €11.1m
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€1.5m
Turnover
-€1.8m
Other operating income
+€1.0m
Services and other goods
-€594,944
Staff costs
-€293,647
Depreciation
+€18,482
Write-downs
-€8,548
Other operating charges
-€34,001
Other operating items
+€314,533
Financial income
+€6.8m
Financial charges
+€3.7m
Taxes
-€82,581
Result 2025
€7.4m
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€11.8m
Investment
-€14.6m
Financing
+€3.9m
Cash 2024
€21.9m
From operations (derived)
+€11.8m
Net result for the year
+€7.4m
Depreciation
+€1.2m
Smaller working-capital items
+€42,701
Receivables within one year
+€2.8m
Trade debts
+€229,525
Tax, wage and social debts
+€196,824
Investment (derived)
-€14.6m
Investment in fixed assets (net)
-€14.6m
Financing
+€3.9m
Debts after one year
+€3.7m
Current portion of long-term debt
-€77,387
Short-term financial debts
+€325,640
Cash 2025
€23.1m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €102,940,238 | €114,743,628 | +€11.8m | +11.5% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €77,596,300 | €90,980,267 | +€13.4m | +17.2% |
| Intangible fixed assets | 21 | €908,170 | €746,740 | -€161,430 | -17.8% |
| Tangible fixed assets | 22/27 | €4,186,111 | €3,795,900 | -€390,211 | -9.3% |
| Land and buildings | 22 | €3,562,943 | - | -€3.6m | |
| Plant, machinery and equipment | 23 | €41,817 | €34,112 | -€7,705 | -18.4% |
| Furniture and vehicles | 24 | €307,970 | €432,218 | +€124,248 | +40.3% |
| Leasing and similar rights | 25 | €273,382 | €204,711 | -€68,671 | -25.1% |
| Other tangible fixed assets | 26 | - | €3,124,859 | +€3.1m | |
| Financial fixed assets | 28 | €72,502,020 | €86,437,627 | +€13.9m | +19.2% |
| Affiliated companies | 280/1 | €67,214,550 | €81,121,351 | +€13.9m | +20.7% |
| Participating interests | 280 | €43,591,521 | €56,803,865 | +€13.2m | +30.3% |
| Amounts receivable | 281 | €23,623,029 | €24,317,486 | +€694,457 | +2.9% |
| Companies linked by participating interests | 282/3 | €5,285,946 | €5,314,753 | +€28,807 | +0.5% |
| Participating interests | 282 | €4,730,564 | €3,151,164 | -€1.6m | -33.4% |
| Amounts receivable | 283 | €555,382 | €2,163,588 | +€1.6m | +290% |
| Other financial fixed assets | 284/8 | €1,524 | €1,524 | = | 0.0% |
| Shares | 284 | €396 | €396 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €1,128 | €1,128 | = | 0.0% |
| Current assets | 29/58 | €25,343,938 | €23,763,361 | -€1.6m | -6.2% |
| Amounts receivable after more than one year | 29 | €36,402 | €22,402 | -€14,000 | -38.5% |
| Other amounts receivable | 291 | €36,402 | €22,402 | -€14,000 | -38.5% |
| Amounts receivable within one year | 40/41 | €3,081,550 | €310,622 | -€2.8m | -89.9% |
| Trade receivables | 40 | €167,827 | €139,211 | -€28,616 | -17.1% |
| Other amounts receivable | 41 | €2,913,723 | €171,411 | -€2.7m | -94.1% |
| Cash at bank and in hand | 54/58 | €21,898,686 | €23,119,739 | +€1.2m | +5.6% |
| Deferred charges and accrued income | 490/1 | €327,300 | €310,599 | -€16,701 | -5.1% |
| Total equity and liabilities | 10/49 | €102,940,238 | €114,743,628 | +€11.8m | +11.5% |
| Equity | 10/15 | €57,318,802 | €64,755,590 | +€7.4m | +13.0% |
| Contributions | 10/11 | €59,662,778 | €59,662,778 | = | 0.0% |
| Capital | 10 | €59,662,778 | €59,662,778 | = | 0.0% |
| Issued capital | 100 | €59,662,778 | €59,662,778 | = | 0.0% |
| Reserves | 13 | €13,437 | €267,437 | +€254,000 | +1,890% |
| Non-distributable reserves | 130/1 | €13,437 | €267,437 | +€254,000 | +1,890% |
| Legal reserve | 130 | €13,437 | €267,437 | +€254,000 | +1,890% |
| Profit (loss) carried forward | 14 | -€2,357,412 | €4,825,375 | +€7.2m | |
| Provisions and deferred taxes | 16 | €60,000 | €60,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €60,000 | €60,000 | = | 0.0% |
| Pensions and similar obligations | 160 | €60,000 | €60,000 | = | 0.0% |
| Amounts payable | 17/49 | €45,561,436 | €49,928,038 | +€4.4m | +9.6% |
| Amounts payable after more than one year | 17 | €37,593,901 | €41,273,902 | +€3.7m | +9.8% |
| Financial debts | 170/4 | €18,811,988 | €16,449,954 | -€2.4m | -12.6% |
| Leasing and similar obligations | 172 | €214,285 | €145,645 | -€68,641 | -32.0% |
| Credit institutions | 173 | €18,597,703 | €16,304,310 | -€2.3m | -12.3% |
| Other amounts payable | 178/9 | €18,781,913 | €24,823,948 | +€6.0m | +32.2% |
| Amounts payable within one year | 42/48 | €7,967,535 | €8,642,136 | +€674,601 | +8.5% |
| Current portion of amounts payable after more than one year | 42 | €4,196,696 | €4,119,309 | -€77,387 | -1.8% |
| Financial debts | 43 | €147,516 | €473,156 | +€325,640 | +221% |
| Credit institutions | 430/8 | €147,516 | €473,156 | +€325,640 | +221% |
| Trade debts | 44 | €2,181,866 | €2,411,391 | +€229,525 | +10.5% |
| Suppliers | 440/4 | €2,181,866 | €2,411,391 | +€229,525 | +10.5% |
| Taxes, remuneration and social security | 45 | €974,895 | €1,171,719 | +€196,824 | +20.2% |
| Taxes | 450/3 | €209,839 | €231,893 | +€22,054 | +10.5% |
| Remuneration and social security | 454/9 | €765,056 | €939,826 | +€174,771 | +22.8% |
| Other amounts payable | 47/48 | €466,561 | €466,561 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €12,000 | +€12,000 | |
| Operating income | 70/76A | €22,713,033 | €22,039,255 | -€673,778 | -3.0% |
| Turnover | 70 | €1,812,639 | €25,150 | -€1.8m | -98.6% |
| Other operating income | 74 | €20,882,905 | €21,884,525 | +€1.0m | +4.8% |
| Non-recurring operating income | 76A | €17,488 | €129,579 | +€112,091 | +641% |
| Operating charges | 60/66A | €20,061,141 | €20,771,358 | +€710,217 | +3.5% |
| Services and other goods | 61 | €10,476,233 | €11,071,177 | +€594,944 | +5.7% |
| Remuneration, social security and pensions | 62 | €7,172,967 | €7,466,614 | +€293,647 | +4.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,185,728 | €1,167,246 | -€18,482 | -1.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€8,548 | - | +€8,548 | |
| Other operating charges | 640/8 | €1,022,370 | €1,056,371 | +€34,001 | +3.3% |
| Non-recurring operating charges | 66A | €212,391 | €9,950 | -€202,441 | -95.3% |
| Operating profit (loss) | 9901 | €2,651,892 | €1,267,897 | -€1.4m | -52.2% |
| Financial income | 75/76B | €1,534,652 | €8,286,113 | +€6.8m | +440% |
| Recurring financial income | 75 | €1,434,763 | €2,593,878 | +€1.2m | +80.8% |
| Income from financial fixed assets | 750 | €1,250,388 | €2,593,107 | +€1.3m | +107% |
| Income from current assets | 751 | €184,375 | €750 | -€183,625 | -99.6% |
| Other financial income | 752/9 | - | €22 | +€22 | |
| Non-recurring financial income | 76B | €99,889 | €5,692,235 | +€5.6m | +5,599% |
| Financial charges | 65/66B | €5,672,342 | €2,007,222 | -€3.7m | -64.6% |
| Recurring financial charges | 65 | €5,489,946 | €1,994,971 | -€3.5m | -63.7% |
| Debt charges | 650 | €1,719,252 | €1,605,210 | -€114,042 | -6.6% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | €3,744,787 | €363,414 | -€3.4m | -90.3% |
| Other financial charges | 652/9 | €25,906 | €26,347 | +€440 | +1.7% |
| Non-recurring financial charges | 66B | €182,397 | €12,251 | -€170,146 | -93.3% |
| Profit (loss) for the period before taxes | 9903 | -€1,485,798 | €7,546,787 | +€9.0m | |
| Income taxes | 67/77 | €27,419 | €110,000 | +€82,581 | +301% |
| Taxes | 670/3 | €27,419 | €110,000 | +€82,581 | +301% |
| Profit (loss) for the period | 9904 | -€1,513,217 | €7,436,787 | +€9.0m | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,513,217 | €7,436,787 | +€9.0m |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.