VAN TIEGHEM: 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 TIEGHEM
Largest movements
- Receivables within one year +€112,398
up €112,398 (+1501.9%), from €7,484 to €119,882
of which Other amounts receivable: +€56,524
- Cash +€39,521
up €39,521 (+26.8%), from €147,528 to €187,049
mainly Net result for the year (+€89,552) and Trade debts (+€82,906)
- Tangible fixed assets -€17,632
down €17,632 (-2.5%), from €710,534 to €692,903
of which Land and buildings: -€39,421
- Other debts -€139,504
down €139,504 (-100.0%), from €139,504 to €0
- Trade debts +€82,906
up €82,906 (+1990.8%), from €4,164 to €87,070
- Profit (loss) carried forward +€64,934
up €64,934, from -€64,934 to €0
- Debts after one year +€49,771
up €49,771 (+12.9%), from €384,598 to €434,368
- Current portion of long-term debt +€34,378
up €34,378 (+105.1%), from €32,697 to €67,075
- Taxes +€18,998
up €18,998 (+6795.4%), from €280 to €19,277
- Gross operating margin +€10,625
up €10,625 (+4.9%), from €215,144 to €225,769
- Depreciation +€5,877
up €5,877 (+10.1%), from €58,247 to €64,125
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 | €872,216 | €1,008,932 | +€136,715 | +15.7% |
| Fixed assets | 21/28 | €711,366 | €693,735 | -€17,632 | -2.5% |
| Tangible fixed assets | 22/27 | €710,534 | €692,903 | -€17,632 | -2.5% |
| Land and buildings | 22 | €654,433 | €615,012 | -€39,421 | -6.0% |
| Plant, machinery and equipment | 23 | €3,859 | €9,527 | +€5,668 | +146.9% |
| Furniture and vehicles | 24 | €52,243 | €68,364 | +€16,121 | +30.9% |
| Financial fixed assets | 28 | €832 | €832 | = | 0.0% |
| Current assets | 29/58 | €160,850 | €315,197 | +€154,347 | +96.0% |
| Stocks and contracts in progress | 3 | €1,300 | €1,250 | -€50 | -3.8% |
| Stocks | 30/36 | €1,300 | €1,250 | -€50 | -3.8% |
| Amounts receivable within one year | 40/41 | €7,484 | €119,882 | +€112,398 | +1501.9% |
| Trade receivables | 40 | €1,053 | €56,927 | +€55,874 | +5308.1% |
| Other amounts receivable | 41 | €6,431 | €62,955 | +€56,524 | +878.9% |
| Cash at bank and in hand | 54/58 | €147,528 | €187,049 | +€39,521 | +26.8% |
| Deferred charges and accrued income | 490/1 | €4,538 | €7,017 | +€2,478 | +54.6% |
| Total equity and liabilities | 10/49 | €872,216 | €1,008,932 | +€136,715 | +15.7% |
| Equity | 10/15 | €227,645 | €317,197 | +€89,552 | +39.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €273,979 | €298,597 | +€24,618 | +9.0% |
| Tax-exempt reserves | 132 | €269,569 | €251,334 | -€18,235 | -6.8% |
| Distributable reserves | 133 | €4,410 | €47,263 | +€42,853 | +971.7% |
| Profit (loss) carried forward | 14 | -€64,934 | €0 | +€64,934 | |
| Provisions and deferred taxes | 16 | €80,713 | €74,635 | -€6,078 | -7.5% |
| Deferred taxes | 168 | €80,713 | €74,635 | -€6,078 | -7.5% |
| Amounts payable | 17/49 | €563,858 | €617,100 | +€53,242 | +9.4% |
| Amounts payable after more than one year | 17 | €384,598 | €434,368 | +€49,771 | +12.9% |
| Financial debts | 170/4 | €384,598 | €434,368 | +€49,771 | +12.9% |
| Amounts payable within one year | 42/48 | €179,261 | €182,732 | +€3,471 | +1.9% |
| Current portion of amounts payable after more than one year | 42 | €32,697 | €67,075 | +€34,378 | +105.1% |
| Trade debts | 44 | €4,164 | €87,070 | +€82,906 | +1990.8% |
| Suppliers | 440/4 | €4,164 | €87,070 | +€82,906 | +1990.8% |
| Taxes, remuneration and social security | 45 | €2,895 | €28,586 | +€25,691 | +887.3% |
| Taxes | 450/3 | €735 | €25,331 | +€24,595 | +3345.8% |
| Remuneration and social security | 454/9 | €2,160 | €3,256 | +€1,096 | +50.7% |
| Other amounts payable | 47/48 | €139,504 | €0 | -€139,504 | -100.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €29,024 | €29,512 | +€488 | +1.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,247 | €64,125 | +€5,877 | +10.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €8,981 | €9,403 | +€422 | +4.7% |
| Gross operating margin | 9900 | €215,144 | €225,769 | +€10,625 | +4.9% |
| Operating profit (loss) | 9901 | €118,891 | €122,729 | +€3,838 | +3.2% |
| Financial income | 75/76B | €17 | €778 | +€761 | +4380.8% |
| Recurring financial income | 75 | €17 | €778 | +€761 | +4380.8% |
| Financial charges | 65/66B | €21,713 | €20,757 | -€957 | -4.4% |
| Recurring financial charges | 65 | €21,713 | €20,757 | -€957 | -4.4% |
| Profit (loss) for the period before taxes | 9903 | €97,195 | €102,751 | +€5,556 | +5.7% |
| Transfer from deferred taxes | 780 | €6,078 | €6,078 | = | 0.0% |
| Income taxes | 67/77 | €280 | €19,277 | +€18,998 | +6795.4% |
| Profit (loss) for the period | 9904 | €102,994 | €89,552 | -€13,442 | -13.1% |
| Transfer from tax-exempt reserves | 789 | €18,235 | €18,235 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €121,229 | €107,787 | -€13,442 | -11.1% |
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 9 October 2026 via checked.be.