VAN SEVEREN: what changed
Two fiscal 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 SEVEREN
Largest movements
- Cash +€129,349
up €129,349 (+139.7%), from €92,603 to €221,952
mainly Net result for the year (+€125,770) and Depreciation (+€73,891)
- Tangible fixed assets -€51,770
down €51,770 (-7.6%), from €676,749 to €624,979
of which Furniture and vehicles: -€30,720
- Receivables within one year +€15,858
up €15,858 (+21.6%), from €73,291 to €89,149
of which Trade receivables: +€26,607
- Reserves +€66,869
up €66,869 (+13.5%), from €496,991 to €563,860
- Tax, wage and social debts +€57,183
up €57,183 (+1502.5%), from €3,806 to €60,989
of which Remuneration and social security: +€46,331
- Debts after one year -€39,243
down €39,243 (-18.2%), from €215,341 to €176,098
- Gross operating margin +€218,366
up €218,366 (+86.6%), from €252,197 to €470,563
- Staff costs +€130,820
up €130,820 (+185.4%), from €70,577 to €201,397
- Taxes +€34,244
up €34,244 (+117.1%), from €29,235 to €63,479
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 | €842,643 | €936,080 | +€93,437 | +11.1% |
| Fixed assets | 21/28 | €676,749 | €624,979 | -€51,770 | -7.6% |
| Tangible fixed assets | 22/27 | €676,749 | €624,979 | -€51,770 | -7.6% |
| Land and buildings | 22 | €562,618 | €540,219 | -€22,399 | -4.0% |
| Plant, machinery and equipment | 23 | €604 | €1,953 | +€1,348 | +223.1% |
| Furniture and vehicles | 24 | €113,527 | €82,807 | -€30,720 | -27.1% |
| Current assets | 29/58 | €165,894 | €311,102 | +€145,208 | +87.5% |
| Amounts receivable within one year | 40/41 | €73,291 | €89,149 | +€15,858 | +21.6% |
| Trade receivables | 40 | €62,542 | €89,149 | +€26,607 | +42.5% |
| Other amounts receivable | 41 | €10,749 | - | -€10,749 | |
| Cash at bank and in hand | 54/58 | €92,603 | €221,952 | +€129,349 | +139.7% |
| Total equity and liabilities | 10/49 | €842,643 | €936,080 | +€93,437 | +11.1% |
| Equity | 10/15 | €503,262 | €570,132 | +€66,869 | +13.3% |
| Contributions | 10/11 | €6,272 | €6,272 | = | 0.0% |
| Reserves | 13 | €496,991 | €563,860 | +€66,869 | +13.5% |
| Distributable reserves | 133 | €496,991 | €563,860 | +€66,869 | +13.5% |
| Amounts payable | 17/49 | €339,381 | €365,949 | +€26,568 | +7.8% |
| Amounts payable after more than one year | 17 | €215,341 | €176,098 | -€39,243 | -18.2% |
| Financial debts | 170/4 | €215,341 | €176,098 | -€39,243 | -18.2% |
| Amounts payable within one year | 42/48 | €124,040 | €189,851 | +€65,811 | +53.1% |
| Current portion of amounts payable after more than one year | 42 | €53,687 | €56,150 | +€2,463 | +4.6% |
| Trade debts | 44 | €61,528 | €64,508 | +€2,980 | +4.8% |
| Suppliers | 440/4 | €61,528 | €64,508 | +€2,980 | +4.8% |
| Taxes, remuneration and social security | 45 | €3,806 | €60,989 | +€57,183 | +1502.5% |
| Taxes | 450/3 | - | €10,852 | +€10,852 | |
| Remuneration and social security | 454/9 | €3,806 | €50,137 | +€46,331 | +1217.4% |
| Other amounts payable | 47/48 | €5,020 | €8,204 | +€3,184 | +63.4% |
| Non-recurring operating income | 76A | €3,000 | - | -€3,000 | |
| Remuneration, social security and pensions | 62 | €70,577 | €201,397 | +€130,820 | +185.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €73,609 | €73,891 | +€282 | +0.4% |
| Other operating charges | 640/8 | €3,925 | €331 | -€3,595 | -91.6% |
| Gross operating margin | 9900 | €252,197 | €470,563 | +€218,366 | +86.6% |
| Operating profit (loss) | 9901 | €104,086 | €194,945 | +€90,859 | +87.3% |
| Financial income | 75/76B | €277 | €664 | +€387 | +139.8% |
| Recurring financial income | 75 | €277 | €664 | +€387 | +139.8% |
| Financial charges | 65/66B | €8,532 | €6,360 | -€2,171 | -25.5% |
| Recurring financial charges | 65 | €8,532 | €6,360 | -€2,171 | -25.5% |
| Profit (loss) for the period before taxes | 9903 | €95,831 | €189,249 | +€93,417 | +97.5% |
| Income taxes | 67/77 | €29,235 | €63,479 | +€34,244 | +117.1% |
| Profit (loss) for the period | 9904 | €66,596 | €125,770 | +€59,173 | +88.9% |
| Profit (loss) for the period to be appropriated | 9905 | €66,596 | €125,770 | +€59,173 | +88.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.