VAN PAEMEL MARC: what changed
VAN PAEMEL MARC
Largest movements
- Cash +€26,327
up €26,327 (+8.8%), from €299,083 to €325,410
mainly Net result for the year (+€18,149) and Stocks and contracts (+€14,017)
- Stocks and contracts -€14,017
no longer reported in 2025 (was €14,017)
of which Contracts in progress: -€11,197
- Receivables within one year +€10,616
up €10,616 (+1,495%), from €710 to €11,326
of which Trade receivables: +€9,930
- Tangible fixed assets -€6,588
down €6,588 (-16.6%), from €39,650 to €33,062
of which Land and buildings: -€4,369
- Reserves +€18,149
up €18,149 (+5.8%), from €312,390 to €330,539
of which Distributable reserves: +€22,629
- Financial income +€5,558
up €5,558 (+321%), from €1,734 to €7,292
- Gross operating margin -€3,430
down €3,430 (-10.1%), from €33,849 to €30,419
- Taxes +€2,235
up €2,235 (+26.2%), from €8,521 to €10,756
- Depreciation -€717
down €717 (-9.8%), from €7,305 to €6,588
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €356,835 | €372,224 | +€15,389 | +4.3% |
| Fixed assets | 21/28 | €39,650 | €33,062 | -€6,588 | -16.6% |
| Tangible fixed assets | 22/27 | €39,650 | €33,062 | -€6,588 | -16.6% |
| Land and buildings | 22 | €37,431 | €33,062 | -€4,369 | -11.7% |
| Plant, machinery and equipment | 23 | €2,219 | - | -€2,219 | |
| Current assets | 29/58 | €317,185 | €339,162 | +€21,977 | +6.9% |
| Stocks and contracts in progress | 3 | €14,017 | - | -€14,017 | |
| Stocks | 30/36 | €2,820 | - | -€2,820 | |
| Contracts in progress | 37 | €11,197 | - | -€11,197 | |
| Amounts receivable within one year | 40/41 | €710 | €11,326 | +€10,616 | +1,495% |
| Trade receivables | 40 | €710 | €10,640 | +€9,930 | +1,399% |
| Other amounts receivable | 41 | - | €686 | +€686 | |
| Cash at bank and in hand | 54/58 | €299,083 | €325,410 | +€26,327 | +8.8% |
| Deferred charges and accrued income | 490/1 | €3,375 | €2,426 | -€949 | -28.1% |
| Total equity and liabilities | 10/49 | €356,835 | €372,224 | +€15,389 | +4.3% |
| Equity | 10/15 | €330,990 | €349,139 | +€18,149 | +5.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €312,390 | €330,539 | +€18,149 | +5.8% |
| Tax-exempt reserves | 132 | €4,480 | - | -€4,480 | |
| Distributable reserves | 133 | €307,910 | €330,539 | +€22,629 | +7.3% |
| Amounts payable | 17/49 | €25,845 | €23,085 | -€2,760 | -10.7% |
| Amounts payable within one year | 42/48 | €25,845 | €23,085 | -€2,760 | -10.7% |
| Trade debts | 44 | €7,827 | €5,279 | -€2,548 | -32.6% |
| Suppliers | 440/4 | €7,827 | €5,279 | -€2,548 | -32.6% |
| Taxes, remuneration and social security | 45 | €7,298 | €5,885 | -€1,413 | -19.4% |
| Taxes | 450/3 | €7,298 | €5,885 | -€1,413 | -19.4% |
| Other amounts payable | 47/48 | €10,720 | €11,921 | +€1,201 | +11.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,305 | €6,588 | -€717 | -9.8% |
| Other operating charges | 640/8 | €2,099 | €2,126 | +€27 | +1.3% |
| Gross operating margin | 9900 | €33,849 | €30,419 | -€3,430 | -10.1% |
| Operating profit (loss) | 9901 | €24,445 | €21,705 | -€2,740 | -11.2% |
| Financial income | 75/76B | €1,734 | €7,292 | +€5,558 | +321% |
| Recurring financial income | 75 | €1,734 | €7,292 | +€5,558 | +321% |
| Financial charges | 65/66B | €61 | €92 | +€31 | +50.8% |
| Recurring financial charges | 65 | €61 | €92 | +€31 | +50.8% |
| Profit (loss) for the period before taxes | 9903 | €26,118 | €28,905 | +€2,787 | +10.7% |
| Income taxes | 67/77 | €8,521 | €10,756 | +€2,235 | +26.2% |
| Profit (loss) for the period | 9904 | €17,597 | €18,149 | +€552 | +3.1% |
| Transfer from tax-exempt reserves | 789 | - | €4,480 | +€4,480 | |
| Profit (loss) for the period to be appropriated | 9905 | €17,597 | €22,629 | +€5,032 | +28.6% |
Next steps
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 2 November 2026 via checked.be.