VAN VAERENBERGH: 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 VAERENBERGH
Largest movements
- Cash +€54,270
up €54,270 (+220%), from €24,719 to €78,988
mainly Receivables within one year (+€22,351) and Net result for the year (+€20,925)
- Receivables within one year -€22,351
down €22,351 (-50.2%), from €44,511 to €22,160
of which Other amounts receivable: -€25,490
- Stocks and contracts -€3,593
down €3,593 (-29.0%), from €12,372 to €8,779
- Tangible fixed assets -€3,392
down €3,392 (-12.1%), from €28,106 to €24,715
of which Furniture and vehicles: -€6,872
- Deferred charges and accrued income -€1,539
down €1,539 (-59.8%), from €2,575 to €1,035
- Other debts +€10,058
up €10,058 (+1,324%), from €759 to €10,818
- Reserves +€7,699
up €7,699 (+7.6%), from €101,606 to €109,305
of which Distributable reserves: +€7,699
- Tax, wage and social debts +€5,319
up €5,319 (+152%), from €3,506 to €8,826
- Gross operating margin -€14,694
down €14,694 (-25.1%), from €58,447 to €43,753
- Staff costs -€4,772
no longer reported in 2025 (was €4,772)
- Taxes +€1,724
up €1,724 (+25.9%), from €6,668 to €8,392
- Financial charges -€1,413
down €1,413 (-21.6%), from €6,549 to €5,136
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 | €112,283 | €135,676 | +€23,394 | +20.8% |
| Fixed assets | 21/28 | €28,106 | €24,715 | -€3,392 | -12.1% |
| Tangible fixed assets | 22/27 | €28,106 | €24,715 | -€3,392 | -12.1% |
| Plant, machinery and equipment | 23 | €5,553 | €9,034 | +€3,480 | +62.7% |
| Furniture and vehicles | 24 | €22,553 | €15,681 | -€6,872 | -30.5% |
| Current assets | 29/58 | €84,176 | €110,962 | +€26,785 | +31.8% |
| Stocks and contracts in progress | 3 | €12,372 | €8,779 | -€3,593 | -29.0% |
| Stocks | 30/36 | €12,372 | €8,779 | -€3,593 | -29.0% |
| Amounts receivable within one year | 40/41 | €44,511 | €22,160 | -€22,351 | -50.2% |
| Trade receivables | 40 | €19,022 | €22,160 | +€3,138 | +16.5% |
| Other amounts receivable | 41 | €25,490 | - | -€25,490 | |
| Cash at bank and in hand | 54/58 | €24,719 | €78,988 | +€54,270 | +220% |
| Deferred charges and accrued income | 490/1 | €2,575 | €1,035 | -€1,539 | -59.8% |
| Total equity and liabilities | 10/49 | €112,283 | €135,676 | +€23,394 | +20.8% |
| Equity | 10/15 | €106,606 | €114,305 | +€7,699 | +7.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €101,606 | €109,305 | +€7,699 | +7.6% |
| Tax-exempt reserves | 132 | €33,000 | €33,000 | = | 0.0% |
| Distributable reserves | 133 | €68,606 | €76,305 | +€7,699 | +11.2% |
| Amounts payable | 17/49 | €5,676 | €21,371 | +€15,695 | +277% |
| Amounts payable within one year | 42/48 | €5,676 | €21,371 | +€15,695 | +277% |
| Trade debts | 44 | €1,410 | €1,728 | +€318 | +22.5% |
| Suppliers | 440/4 | €1,410 | €1,728 | +€318 | +22.5% |
| Taxes, remuneration and social security | 45 | €3,506 | €8,826 | +€5,319 | +152% |
| Taxes | 450/3 | €3,506 | €8,826 | +€5,319 | +152% |
| Other amounts payable | 47/48 | €759 | €10,818 | +€10,058 | +1,324% |
| Non-recurring operating income | 76A | €36,572 | €21,500 | -€15,072 | -41.2% |
| Remuneration, social security and pensions | 62 | €4,772 | - | -€4,772 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,962 | €8,920 | -€42 | -0.5% |
| Other operating charges | 640/8 | €417 | €566 | +€149 | +35.7% |
| Gross operating margin | 9900 | €58,447 | €43,753 | -€14,694 | -25.1% |
| Operating profit (loss) | 9901 | €44,296 | €34,267 | -€10,029 | -22.6% |
| Financial income | 75/76B | €222 | €186 | -€35 | -16.0% |
| Recurring financial income | 75 | €222 | €186 | -€35 | -16.0% |
| Financial charges | 65/66B | €6,549 | €5,136 | -€1,413 | -21.6% |
| Recurring financial charges | 65 | €6,549 | €5,136 | -€1,413 | -21.6% |
| Profit (loss) for the period before taxes | 9903 | €37,969 | €29,318 | -€8,651 | -22.8% |
| Income taxes | 67/77 | €6,668 | €8,392 | +€1,724 | +25.9% |
| Profit (loss) for the period | 9904 | €31,301 | €20,925 | -€10,376 | -33.1% |
| Profit (loss) for the period to be appropriated | 9905 | €31,301 | €20,925 | -€10,376 | -33.1% |
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 21 October 2026 via checked.be.