VAN NOTEN DAVE: 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 NOTEN DAVE
Largest movements
- Cash +€16,838
up €16,838 (+259%), from €6,498 to €23,336
mainly Net result for the year (+€10,449) and Deferred charges and accrued income (+€9,291)
- Deferred charges and accrued income -€9,291
down €9,291 (-67.7%), from €13,729 to €4,438
- Receivables after one year -€5,123
no longer reported in 2025 (was €5,123)
- Receivables within one year -€2,889
down €2,889 (-3.5%), from €82,152 to €79,263
of which Trade receivables: -€9,572
- Tangible fixed assets -€2,765
down €2,765 (-36.4%), from €7,588 to €4,823
of which Furniture and vehicles: -€2,563
- Trade debts -€14,660
down €14,660 (-61.5%), from €23,833 to €9,173
- Reserves +€10,449
up €10,449 (+19.4%), from €53,970 to €64,419
of which Distributable reserves: +€10,449
- Tax, wage and social debts +€1,666
up €1,666 (+20.7%), from €8,054 to €9,719
of which Taxes: +€1,847
- Advances received -€1,537
down €1,537 (-22.1%), from €6,966 to €5,429
- Financial income -€5,570
no longer reported in 2025 (was €5,570)
of which Non-recurring financial income: -€5,569
- Gross operating margin +€3,277
up €3,277 (+20.0%), from €16,354 to €19,631
- Depreciation +€1,115
up €1,115 (+67.6%), from €1,650 to €2,765
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 | €116,695 | €112,613 | -€4,082 | -3.5% |
| Fixed assets | 21/28 | €8,341 | €5,576 | -€2,765 | -33.2% |
| Tangible fixed assets | 22/27 | €7,588 | €4,823 | -€2,765 | -36.4% |
| Plant, machinery and equipment | 23 | €643 | €440 | -€203 | -31.5% |
| Furniture and vehicles | 24 | €6,945 | €4,382 | -€2,563 | -36.9% |
| Financial fixed assets | 28 | €753 | €753 | = | 0.0% |
| Current assets | 29/58 | €108,354 | €107,037 | -€1,317 | -1.2% |
| Amounts receivable after more than one year | 29 | €5,123 | - | -€5,123 | |
| Other amounts receivable | 291 | €5,123 | - | -€5,123 | |
| Stocks and contracts in progress | 3 | €852 | - | -€852 | |
| Stocks | 30/36 | €852 | - | -€852 | |
| Amounts receivable within one year | 40/41 | €82,152 | €79,263 | -€2,889 | -3.5% |
| Trade receivables | 40 | €55,486 | €45,915 | -€9,572 | -17.3% |
| Other amounts receivable | 41 | €26,665 | €33,348 | +€6,683 | +25.1% |
| Cash at bank and in hand | 54/58 | €6,498 | €23,336 | +€16,838 | +259% |
| Deferred charges and accrued income | 490/1 | €13,729 | €4,438 | -€9,291 | -67.7% |
| Total equity and liabilities | 10/49 | €116,695 | €112,613 | -€4,082 | -3.5% |
| Equity | 10/15 | €72,842 | €83,291 | +€10,449 | +14.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €53,970 | €64,419 | +€10,449 | +19.4% |
| 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 | €7,918 | €7,918 | = | 0.0% |
| Distributable reserves | 133 | €44,193 | €54,642 | +€10,449 | +23.6% |
| Profit (loss) carried forward | 14 | €272 | €272 | = | 0.0% |
| Provisions and deferred taxes | 16 | €5,000 | €5,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €5,000 | €5,000 | = | 0.0% |
| Other liabilities and charges | 164/5 | €5,000 | €5,000 | = | 0.0% |
| Amounts payable | 17/49 | €38,853 | €24,321 | -€14,531 | -37.4% |
| Amounts payable within one year | 42/48 | €38,853 | €24,321 | -€14,531 | -37.4% |
| Trade debts | 44 | €23,833 | €9,173 | -€14,660 | -61.5% |
| Suppliers | 440/4 | €23,833 | €9,173 | -€14,660 | -61.5% |
| Advances received on contracts in progress | 46 | €6,966 | €5,429 | -€1,537 | -22.1% |
| Taxes, remuneration and social security | 45 | €8,054 | €9,719 | +€1,666 | +20.7% |
| Taxes | 450/3 | €7,872 | €9,719 | +€1,847 | +23.5% |
| Remuneration and social security | 454/9 | €182 | - | -€182 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,650 | €2,765 | +€1,115 | +67.6% |
| Other operating charges | 640/8 | €1,186 | €1,253 | +€67 | +5.7% |
| Gross operating margin | 9900 | €16,354 | €19,631 | +€3,277 | +20.0% |
| Operating profit (loss) | 9901 | €13,518 | €15,612 | +€2,094 | +15.5% |
| Financial income | 75/76B | €5,570 | - | -€5,570 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Non-recurring financial income | 76B | €5,569 | - | -€5,569 | |
| Financial charges | 65/66B | €352 | €385 | +€32 | +9.2% |
| Recurring financial charges | 65 | €352 | €385 | +€32 | +9.2% |
| Profit (loss) for the period before taxes | 9903 | €18,736 | €15,227 | -€3,509 | -18.7% |
| Income taxes | 67/77 | €4,626 | €4,778 | +€152 | +3.3% |
| Profit (loss) for the period | 9904 | €14,110 | €10,449 | -€3,661 | -25.9% |
| Profit (loss) for the period to be appropriated | 9905 | €14,110 | €10,449 | -€3,661 | -25.9% |
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.