VAN PRAET: 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 PRAET
Largest movements
- Stocks and contracts +€280,375
up €280,375 (+47.0%), from €596,806 to €877,181
of which Contracts in progress: +€240,203
- Receivables within one year +€23,455
up €23,455 (+7.5%), from €310,934 to €334,388
of which Trade receivables: +€40,857
- Cash +€19,929
up €19,929 (+14.0%), from €142,711 to €162,639
mainly Advances received (+€199,837) and Net result for the year (+€81,361)
- Advances received +€199,837
up €199,837 (+31.5%), from €633,573 to €833,410
- Reserves +€81,361
up €81,361 (+23.0%), from €352,993 to €434,354
of which Distributable reserves: +€81,361
- Trade debts +€32,919
up €32,919 (+48.1%), from €68,443 to €101,362
- Depreciation -€42,891
down €42,891 (-49.8%), from €86,179 to €43,288
- Staff costs +€38,785
up €38,785 (+9.5%), from €410,272 to €449,057
- Gross operating margin +€11,248
up €11,248 (+1.9%), from €599,735 to €610,984
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 | €1,227,933 | €1,545,412 | +€317,479 | +25.9% |
| Fixed assets | 21/28 | €174,483 | €169,354 | -€5,130 | -2.9% |
| Tangible fixed assets | 22/27 | €174,198 | €169,069 | -€5,130 | -2.9% |
| Plant, machinery and equipment | 23 | €5,613 | €4,293 | -€1,320 | -23.5% |
| Furniture and vehicles | 24 | €147,303 | €128,758 | -€18,545 | -12.6% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Other tangible fixed assets | 26 | €21,281 | €36,017 | +€14,736 | +69.2% |
| Financial fixed assets | 28 | €285 | €285 | = | 0.0% |
| Current assets | 29/58 | €1,053,450 | €1,376,058 | +€322,609 | +30.6% |
| Stocks and contracts in progress | 3 | €596,806 | €877,181 | +€280,375 | +47.0% |
| Stocks | 30/36 | €49,964 | €90,136 | +€40,172 | +80.4% |
| Contracts in progress | 37 | €546,842 | €787,045 | +€240,203 | +43.9% |
| Amounts receivable within one year | 40/41 | €310,934 | €334,388 | +€23,455 | +7.5% |
| Trade receivables | 40 | €68,037 | €108,894 | +€40,857 | +60.1% |
| Other amounts receivable | 41 | €242,897 | €225,494 | -€17,403 | -7.2% |
| Cash at bank and in hand | 54/58 | €142,711 | €162,639 | +€19,929 | +14.0% |
| Deferred charges and accrued income | 490/1 | €3,000 | €1,850 | -€1,150 | -38.3% |
| Total equity and liabilities | 10/49 | €1,227,933 | €1,545,412 | +€317,479 | +25.9% |
| Equity | 10/15 | €414,493 | €495,854 | +€81,361 | +19.6% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €352,993 | €434,354 | +€81,361 | +23.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €346,843 | €428,204 | +€81,361 | +23.5% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €813,440 | €1,049,558 | +€236,118 | +29.0% |
| Amounts payable after more than one year | 17 | €31,899 | €20,004 | -€11,895 | -37.3% |
| Financial debts | 170/4 | €31,899 | €20,004 | -€11,895 | -37.3% |
| Amounts payable within one year | 42/48 | €781,541 | €1,029,554 | +€248,013 | +31.7% |
| Current portion of amounts payable after more than one year | 42 | €25,412 | €26,143 | +€731 | +2.9% |
| Financial debts | 43 | €10,142 | €21,730 | +€11,588 | +114% |
| Credit institutions | 430/8 | €10,142 | €21,730 | +€11,588 | +114% |
| Trade debts | 44 | €68,443 | €101,362 | +€32,919 | +48.1% |
| Suppliers | 440/4 | €68,443 | €101,362 | +€32,919 | +48.1% |
| Advances received on contracts in progress | 46 | €633,573 | €833,410 | +€199,837 | +31.5% |
| Taxes, remuneration and social security | 45 | €43,970 | €46,908 | +€2,938 | +6.7% |
| Taxes | 450/3 | €5,516 | €6,086 | +€570 | +10.3% |
| Remuneration and social security | 454/9 | €38,454 | €40,823 | +€2,368 | +6.2% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €410,272 | €449,057 | +€38,785 | +9.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €86,179 | €43,288 | -€42,891 | -49.8% |
| Other operating charges | 640/8 | €7,165 | €6,035 | -€1,130 | -15.8% |
| Gross operating margin | 9900 | €599,735 | €610,984 | +€11,248 | +1.9% |
| Operating profit (loss) | 9901 | €96,119 | €112,603 | +€16,484 | +17.1% |
| Financial income | 75/76B | €4,499 | €1,122 | -€3,377 | -75.1% |
| Recurring financial income | 75 | €4,499 | €1,122 | -€3,377 | -75.1% |
| Financial charges | 65/66B | €5,509 | €3,042 | -€2,467 | -44.8% |
| Recurring financial charges | 65 | €5,509 | €3,042 | -€2,467 | -44.8% |
| Profit (loss) for the period before taxes | 9903 | €95,109 | €110,682 | +€15,573 | +16.4% |
| Income taxes | 67/77 | €25,993 | €29,321 | +€3,328 | +12.8% |
| Profit (loss) for the period | 9904 | €69,115 | €81,361 | +€12,246 | +17.7% |
| Profit (loss) for the period to be appropriated | 9905 | €69,115 | €81,361 | +€12,246 | +17.7% |
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 27 October 2026 via checked.be.