Van Tendeloo Gil: what changed
Van Tendeloo Gil
Largest movements
- Cash -€17,893
down €17,893 (-16.1%), from €111,183 to €93,290
mainly Investment in fixed assets (net) (-€52,183) and Contributions, distributions and other (-€36,000)
- Receivables within one year +€8,994
up €8,994 (+154%), from €5,830 to €14,824
of which Trade receivables: +€5,621
- Tangible fixed assets +€6,932
up €6,932 (+1.7%), from €418,143 to €425,075
of which Leasing and similar rights: +€28,287
- Other debts +€20,792
up €20,792 (+13,590%), from €153 to €20,945
- Reserves -€18,886
down €18,886 (-21.0%), from €89,900 to €71,014
- Trade debts -€8,338
down €8,338 (-92.9%), from €8,978 to €640
- Debts after one year -€7,894
down €7,894 (-2.0%), from €385,459 to €377,564
of which Financial debts: -€7,894
- Current portion of long-term debt +€5,612
up €5,612 (+14.6%), from €38,480 to €44,091
- Gross operating margin -€39,019
down €39,019 (-22.0%), from €177,142 to €138,123
- Staff costs -€16,577
down €16,577 (-22.1%), from €75,165 to €58,589
- Taxes -€5,089
down €5,089 (-53.2%), from €9,571 to €4,482
- Depreciation +€3,359
up €3,359 (+8.0%), from €41,893 to €45,251
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 | €548,888 | €542,305 | -€6,582 | -1.2% |
| Fixed assets | 21/28 | €418,143 | €425,075 | +€6,932 | +1.7% |
| Tangible fixed assets | 22/27 | €418,143 | €425,075 | +€6,932 | +1.7% |
| Land and buildings | 22 | €301,205 | €286,715 | -€14,490 | -4.8% |
| Plant, machinery and equipment | 23 | €101,562 | €92,653 | -€8,909 | -8.8% |
| Furniture and vehicles | 24 | €2,309 | €4,353 | +€2,044 | +88.5% |
| Leasing and similar rights | 25 | €13,067 | €41,353 | +€28,287 | +216% |
| Current assets | 29/58 | €130,745 | €117,231 | -€13,514 | -10.3% |
| Stocks and contracts in progress | 3 | €13,732 | €9,117 | -€4,615 | -33.6% |
| Stocks | 30/36 | €13,732 | €9,117 | -€4,615 | -33.6% |
| Amounts receivable within one year | 40/41 | €5,830 | €14,824 | +€8,994 | +154% |
| Trade receivables | 40 | €5,671 | €11,292 | +€5,621 | +99.1% |
| Other amounts receivable | 41 | €159 | €3,532 | +€3,373 | +2,116% |
| Cash at bank and in hand | 54/58 | €111,183 | €93,290 | -€17,893 | -16.1% |
| Total equity and liabilities | 10/49 | €548,888 | €542,305 | -€6,582 | -1.2% |
| Equity | 10/15 | €99,900 | €81,014 | -€18,886 | -18.9% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €89,900 | €71,014 | -€18,886 | -21.0% |
| Distributable reserves | 133 | €89,900 | €71,014 | -€18,886 | -21.0% |
| Amounts payable | 17/49 | €448,988 | €461,291 | +€12,304 | +2.7% |
| Amounts payable after more than one year | 17 | €385,459 | €377,564 | -€7,894 | -2.0% |
| Financial debts | 170/4 | €325,459 | €317,564 | -€7,894 | -2.4% |
| Other amounts payable | 178/9 | €60,000 | €60,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €63,529 | €83,727 | +€20,198 | +31.8% |
| Current portion of amounts payable after more than one year | 42 | €38,480 | €44,091 | +€5,612 | +14.6% |
| Trade debts | 44 | €8,978 | €640 | -€8,338 | -92.9% |
| Suppliers | 440/4 | €8,978 | €640 | -€8,338 | -92.9% |
| Taxes, remuneration and social security | 45 | €15,919 | €18,050 | +€2,132 | +13.4% |
| Taxes | 450/3 | €11,616 | €14,244 | +€2,629 | +22.6% |
| Remuneration and social security | 454/9 | €4,303 | €3,806 | -€497 | -11.5% |
| Other amounts payable | 47/48 | €153 | €20,945 | +€20,792 | +13,590% |
| Remuneration, social security and pensions | 62 | €75,165 | €58,589 | -€16,577 | -22.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,893 | €45,251 | +€3,359 | +8.0% |
| Other operating charges | 640/8 | €2,562 | €2,652 | +€91 | +3.5% |
| Gross operating margin | 9900 | €177,142 | €138,123 | -€39,019 | -22.0% |
| Operating profit (loss) | 9901 | €57,522 | €31,630 | -€25,892 | -45.0% |
| Financial income | 75/76B | €566 | €164 | -€402 | -71.0% |
| Recurring financial income | 75 | €566 | €164 | -€402 | -71.0% |
| Financial charges | 65/66B | €10,903 | €10,198 | -€705 | -6.5% |
| Recurring financial charges | 65 | €10,903 | €10,161 | -€742 | -6.8% |
| Non-recurring financial charges | 66B | - | €37 | +€37 | |
| Profit (loss) for the period before taxes | 9903 | €47,185 | €21,596 | -€25,589 | -54.2% |
| Income taxes | 67/77 | €9,571 | €4,482 | -€5,089 | -53.2% |
| Profit (loss) for the period | 9904 | €37,614 | €17,114 | -€20,500 | -54.5% |
| Profit (loss) for the period to be appropriated | 9905 | €37,614 | €17,114 | -€20,500 | -54.5% |
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 8 November 2026 via checked.be.