VAN NESTE BRECHT: 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 NESTE BRECHT
Largest movements
- Stocks and contracts +€52,647
up €52,647 (+84.3%), from €62,449 to €115,096
- Receivables within one year +€47,108
up €47,108 (+255%), from €18,439 to €65,547
of which Trade receivables: +€47,100
- Tangible fixed assets -€15,474
down €15,474 (-5.1%), from €301,875 to €286,401
of which Land and buildings: -€14,436
- Cash +€15,296
up €15,296 (+49.7%), from €30,767 to €46,063
mainly Net result for the year (+€87,818) and Other debts (+€49,399)
- Other debts +€49,399
up €49,399 (+184%), from €26,846 to €76,244
- Reserves +€33,415
up €33,415 (+22.1%), from €150,990 to €184,404
of which Distributable reserves: +€33,415
- Tax, wage and social debts +€23,608
up €23,608 (+116%), from €20,421 to €44,029
- Debts after one year -€21,767
down €21,767 (-12.1%), from €180,435 to €158,668
- Trade debts +€14,919
up €14,919 (+296%), from €5,044 to €19,963
- Gross operating margin +€40,141
up €40,141 (+34.6%), from €115,953 to €156,094
- Taxes +€15,791
up €15,791 (+60.7%), from €26,036 to €41,827
- Depreciation -€6,703
down €6,703 (-26.1%), from €25,677 to €18,974
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 | €413,530 | €513,107 | +€99,577 | +24.1% |
| Fixed assets | 21/28 | €301,875 | €286,401 | -€15,474 | -5.1% |
| Tangible fixed assets | 22/27 | €301,875 | €286,401 | -€15,474 | -5.1% |
| Land and buildings | 22 | €292,008 | €277,571 | -€14,436 | -4.9% |
| Plant, machinery and equipment | 23 | €6,652 | €3,883 | -€2,768 | -41.6% |
| Furniture and vehicles | 24 | €3,215 | €4,946 | +€1,731 | +53.8% |
| Current assets | 29/58 | €111,655 | €226,706 | +€115,051 | +103% |
| Stocks and contracts in progress | 3 | €62,449 | €115,096 | +€52,647 | +84.3% |
| Stocks | 30/36 | €62,449 | €115,096 | +€52,647 | +84.3% |
| Amounts receivable within one year | 40/41 | €18,439 | €65,547 | +€47,108 | +255% |
| Trade receivables | 40 | €18,413 | €65,513 | +€47,100 | +256% |
| Other amounts receivable | 41 | €26 | €34 | +€8 | +29.0% |
| Cash at bank and in hand | 54/58 | €30,767 | €46,063 | +€15,296 | +49.7% |
| Total equity and liabilities | 10/49 | €413,530 | €513,107 | +€99,577 | +24.1% |
| Equity | 10/15 | €157,190 | €190,604 | +€33,415 | +21.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €150,990 | €184,404 | +€33,415 | +22.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €12,500 | €12,500 | = | 0.0% |
| Distributable reserves | 133 | €136,630 | €170,044 | +€33,415 | +24.5% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €256,340 | €322,502 | +€66,162 | +25.8% |
| Amounts payable after more than one year | 17 | €180,435 | €158,668 | -€21,767 | -12.1% |
| Financial debts | 170/4 | €180,435 | €158,668 | -€21,767 | -12.1% |
| Amounts payable within one year | 42/48 | €73,706 | €162,003 | +€88,297 | +120% |
| Current portion of amounts payable after more than one year | 42 | €21,395 | €21,767 | +€372 | +1.7% |
| Trade debts | 44 | €5,044 | €19,963 | +€14,919 | +296% |
| Suppliers | 440/4 | €5,044 | €19,963 | +€14,919 | +296% |
| Taxes, remuneration and social security | 45 | €20,421 | €44,029 | +€23,608 | +116% |
| Taxes | 450/3 | €20,421 | €44,029 | +€23,608 | +116% |
| Other amounts payable | 47/48 | €26,846 | €76,244 | +€49,399 | +184% |
| Accrued charges and deferred income | 492/3 | €2,199 | €1,831 | -€368 | -16.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,677 | €18,974 | -€6,703 | -26.1% |
| Other operating charges | 640/8 | €1,960 | €2,013 | +€53 | +2.7% |
| Gross operating margin | 9900 | €115,953 | €156,094 | +€40,141 | +34.6% |
| Operating profit (loss) | 9901 | €88,316 | €135,107 | +€46,791 | +53.0% |
| Financial income | 75/76B | €3 | €0 | -€3 | -100% |
| Recurring financial income | 75 | €3 | €0 | -€3 | -100% |
| Financial charges | 65/66B | €6,448 | €5,462 | -€986 | -15.3% |
| Recurring financial charges | 65 | €6,448 | €5,462 | -€986 | -15.3% |
| Profit (loss) for the period before taxes | 9903 | €81,870 | €129,645 | +€47,774 | +58.4% |
| Income taxes | 67/77 | €26,036 | €41,827 | +€15,791 | +60.7% |
| Profit (loss) for the period | 9904 | €55,835 | €87,818 | +€31,983 | +57.3% |
| Profit (loss) for the period to be appropriated | 9905 | €55,835 | €87,818 | +€31,983 | +57.3% |
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 17 October 2026 via checked.be.