VAN PUT: 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 PUT
Largest movements
- Tangible fixed assets +€34,915
up €34,915 (+60.6%), from €57,625 to €92,540
of which Furniture and vehicles: +€27,163
- Cash +€30,774
up €30,774 (+42.6%), from €72,251 to €103,025
mainly Net result for the year (+€34,645) and Debts after one year (+€26,767)
- Profit (loss) carried forward +€34,645
up €34,645, from -€30,832 to €3,813
- Debts after one year +€26,767
new in 2025: €26,767
- Current portion of long-term debt +€7,659
new in 2025: €7,659
- Tax, wage and social debts -€4,694
no longer reported in 2025 (was €4,694)
- Accrued charges and deferred income +€2,101
new in 2025: €2,101
- Turnover +€235,665
up €235,665 (+139%), from €168,939 to €404,604
- Purchases and services +€165,849
up €165,849 (+97.2%), from €170,710 to €336,559
- Gross operating margin +€69,816
up €69,816, from -€1,771 to €68,045
- Financial charges +€11,296
up €11,296 (+754%), from €1,498 to €12,794
of which Non-recurring financial charges: +€11,723
- Taxes +€4,995
new in 2025: €4,995
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 | €141,792 | €206,156 | +€64,364 | +45.4% |
| Fixed assets | 21/28 | €61,168 | €96,083 | +€34,915 | +57.1% |
| Intangible fixed assets | 21 | €3,506 | €3,506 | = | 0.0% |
| Tangible fixed assets | 22/27 | €57,625 | €92,540 | +€34,915 | +60.6% |
| Plant, machinery and equipment | 23 | €10,279 | €8,031 | -€2,248 | -21.9% |
| Furniture and vehicles | 24 | €47,346 | €74,509 | +€27,163 | +57.4% |
| Assets under construction and advance payments | 27 | - | €10,000 | +€10,000 | |
| Financial fixed assets | 28 | €37 | €37 | = | 0.0% |
| Current assets | 29/58 | €80,624 | €110,073 | +€29,449 | +36.5% |
| Amounts receivable within one year | 40/41 | €8,373 | €7,048 | -€1,325 | -15.8% |
| Trade receivables | 40 | €1,760 | €2,324 | +€564 | +32.0% |
| Other amounts receivable | 41 | €6,613 | €4,724 | -€1,889 | -28.6% |
| Cash at bank and in hand | 54/58 | €72,251 | €103,025 | +€30,774 | +42.6% |
| Total equity and liabilities | 10/49 | €141,792 | €206,156 | +€64,364 | +45.4% |
| Equity | 10/15 | €132,223 | €166,868 | +€34,645 | +26.2% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €156,858 | €156,858 | = | 0.0% |
| Distributable reserves | 133 | €156,858 | €156,858 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€30,832 | €3,813 | +€34,645 | |
| Amounts payable | 17/49 | €9,569 | €39,288 | +€29,719 | +311% |
| Amounts payable after more than one year | 17 | - | €26,767 | +€26,767 | |
| Financial debts | 170/4 | - | €26,767 | +€26,767 | |
| Amounts payable within one year | 42/48 | €9,569 | €10,420 | +€851 | +8.9% |
| Current portion of amounts payable after more than one year | 42 | - | €7,659 | +€7,659 | |
| Trade debts | 44 | €3,479 | €2,761 | -€718 | -20.6% |
| Suppliers | 440/4 | €3,479 | €2,761 | -€718 | -20.6% |
| Taxes, remuneration and social security | 45 | €4,694 | - | -€4,694 | |
| Taxes | 450/3 | €4,694 | - | -€4,694 | |
| Other amounts payable | 47/48 | €1,396 | - | -€1,396 | |
| Accrued charges and deferred income | 492/3 | - | €2,101 | +€2,101 | |
| Turnover | 70 | €168,939 | €404,604 | +€235,665 | +139% |
| Goods, raw materials, services and sundry goods | 60/61 | €170,710 | €336,559 | +€165,849 | +97.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,520 | €15,413 | -€1,107 | -6.7% |
| Other operating charges | 640/8 | €196 | €198 | +€2 | +1.0% |
| Gross operating margin | 9900 | -€1,771 | €68,045 | +€69,816 | |
| Operating profit (loss) | 9901 | -€18,487 | €52,434 | +€70,921 | |
| Financial charges | 65/66B | €1,498 | €12,794 | +€11,296 | +754% |
| Recurring financial charges | 65 | €1,498 | €1,071 | -€427 | -28.5% |
| Non-recurring financial charges | 66B | - | €11,723 | +€11,723 | |
| Profit (loss) for the period before taxes | 9903 | -€19,985 | €39,640 | +€59,625 | |
| Income taxes | 67/77 | - | €4,995 | +€4,995 | |
| Profit (loss) for the period | 9904 | -€19,985 | €34,645 | +€54,630 | |
| Profit (loss) for the period to be appropriated | 9905 | -€19,985 | €34,645 | +€54,630 |
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 15 October 2026 via checked.be.