VAN RIEL KOEN: 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 RIEL KOEN
Largest movements
- Receivables within one year -€49,973
down €49,973 (-58.7%), from €85,174 to €35,202
of which Trade receivables: -€49,453
- Stocks and contracts -€15,861
down €15,861 (-93.9%), from €16,885 to €1,024
of which Contracts in progress: -€15,000
- Cash -€5,790
down €5,790 (-13.4%), from €43,326 to €37,535
mainly Trade debts (-€74,943) and Investment in fixed assets (net) (-€10,539)
- Trade debts -€74,943
down €74,943 (-86.0%), from €87,135 to €12,192
- Reserves +€24,625
up €24,625 (+23.3%), from €105,666 to €130,291
of which Distributable reserves: +€24,625
- Current portion of long-term debt -€6,626
down €6,626 (-45.0%), from €14,721 to €8,095
- Debts after one year -€5,611
no longer reported in 2025 (was €5,611)
- Other debts -€4,002
down €4,002 (-21.2%), from €18,897 to €14,895
- Gross operating margin +€12,484
up €12,484 (+36.2%), from €34,531 to €47,015
- Taxes +€5,030
up €5,030 (+76.2%), from €6,600 to €11,630
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.
Cash bridge derived
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 | €262,510 | €192,486 | -€70,024 | -26.7% |
| Fixed assets | 21/28 | €117,125 | €118,725 | +€1,600 | +1.4% |
| Tangible fixed assets | 22/27 | €117,125 | €118,725 | +€1,600 | +1.4% |
| Plant, machinery and equipment | 23 | €16,570 | €11,302 | -€5,268 | -31.8% |
| Furniture and vehicles | 24 | €100,555 | €107,423 | +€6,868 | +6.8% |
| Current assets | 29/58 | €145,385 | €73,761 | -€71,624 | -49.3% |
| Stocks and contracts in progress | 3 | €16,885 | €1,024 | -€15,861 | -93.9% |
| Stocks | 30/36 | €1,885 | €1,024 | -€861 | -45.7% |
| Contracts in progress | 37 | €15,000 | - | -€15,000 | |
| Amounts receivable within one year | 40/41 | €85,174 | €35,202 | -€49,973 | -58.7% |
| Trade receivables | 40 | €81,225 | €31,772 | -€49,453 | -60.9% |
| Other amounts receivable | 41 | €3,949 | €3,430 | -€520 | -13.2% |
| Cash at bank and in hand | 54/58 | €43,326 | €37,535 | -€5,790 | -13.4% |
| Total equity and liabilities | 10/49 | €262,510 | €192,486 | -€70,024 | -26.7% |
| Equity | 10/15 | €127,628 | €152,253 | +€24,625 | +19.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €105,666 | €130,291 | +€24,625 | +23.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €103,806 | €128,431 | +€24,625 | +23.7% |
| Profit (loss) carried forward | 14 | €3,362 | €3,362 | = | 0.0% |
| Amounts payable | 17/49 | €134,882 | €40,233 | -€94,649 | -70.2% |
| Amounts payable after more than one year | 17 | €5,611 | - | -€5,611 | |
| Financial debts | 170/4 | €5,611 | - | -€5,611 | |
| Amounts payable within one year | 42/48 | €129,270 | €40,233 | -€89,037 | -68.9% |
| Current portion of amounts payable after more than one year | 42 | €14,721 | €8,095 | -€6,626 | -45.0% |
| Trade debts | 44 | €87,135 | €12,192 | -€74,943 | -86.0% |
| Suppliers | 440/4 | €87,135 | €12,192 | -€74,943 | -86.0% |
| Taxes, remuneration and social security | 45 | €8,517 | €5,050 | -€3,467 | -40.7% |
| Taxes | 450/3 | €7,117 | €3,650 | -€3,467 | -48.7% |
| Remuneration and social security | 454/9 | €1,400 | €1,400 | = | 0.0% |
| Other amounts payable | 47/48 | €18,897 | €14,895 | -€4,002 | -21.2% |
| Remuneration, social security and pensions | 62 | - | €62 | +€62 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,667 | €8,940 | +€272 | +3.1% |
| Other operating charges | 640/8 | €800 | €710 | -€91 | -11.4% |
| Gross operating margin | 9900 | €34,531 | €47,015 | +€12,484 | +36.2% |
| Operating profit (loss) | 9901 | €25,063 | €37,303 | +€12,241 | +48.8% |
| Financial income | 75/76B | €42 | €19 | -€23 | -54.7% |
| Recurring financial income | 75 | €42 | €19 | -€23 | -54.7% |
| Financial charges | 65/66B | €1,119 | €1,068 | -€51 | -4.5% |
| Recurring financial charges | 65 | €1,119 | €1,068 | -€51 | -4.5% |
| Profit (loss) for the period before taxes | 9903 | €23,986 | €36,254 | +€12,268 | +51.1% |
| Income taxes | 67/77 | €6,600 | €11,630 | +€5,030 | +76.2% |
| Profit (loss) for the period | 9904 | €17,386 | €24,625 | +€7,239 | +41.6% |
| Profit (loss) for the period to be appropriated | 9905 | €17,386 | €24,625 | +€7,239 | +41.6% |
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 12 October 2026 via checked.be.