van Vugt: 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 Vugt
Largest movements
- Receivables within one year -€57,118
down €57,118 (-29.3%), from €195,125 to €138,007
- Cash -€55,243
down €55,243 (-33.2%), from €166,585 to €111,342
mainly Net result for the year (-€69,809) and Trade debts (-€30,926)
- Tangible fixed assets +€15,827
up €15,827 (+77.8%), from €20,356 to €36,183
- Stocks and contracts -€9,695
down €9,695 (-4.8%), from €200,358 to €190,663
- Profit (loss) carried forward -€69,809
down €69,809 (-29.2%), from €238,940 to €169,131
- Trade debts -€30,926
down €30,926 (-30.9%), from €99,922 to €68,997
- Tax, wage and social debts -€14,148
down €14,148 (-22.9%), from €61,758 to €47,610
of which Taxes: -€14,689
- Other debts +€8,000
up €8,000 (+24.9%), from €32,178 to €40,178
- Depreciation -€6,459
down €6,459 (-55.9%), from €11,562 to €5,103
- Staff costs +€4,999
up €4,999 (+2.1%), from €242,176 to €247,175
- Financial charges +€4,805
up €4,805 (+25.5%), from €18,865 to €23,671
- Other operating charges -€2,900
down €2,900 (-52.9%), from €5,486 to €2,586
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 | €594,455 | €487,572 | -€106,883 | -18.0% |
| Fixed assets | 21/28 | €29,585 | €46,195 | +€16,610 | +56.1% |
| Tangible fixed assets | 22/27 | €20,356 | €36,183 | +€15,827 | +77.8% |
| Furniture and vehicles | 24 | €20,356 | €36,183 | +€15,827 | +77.8% |
| Financial fixed assets | 28 | €9,229 | €10,012 | +€783 | +8.5% |
| Current assets | 29/58 | €564,869 | €441,377 | -€123,493 | -21.9% |
| Stocks and contracts in progress | 3 | €200,358 | €190,663 | -€9,695 | -4.8% |
| Stocks | 30/36 | €200,358 | €190,663 | -€9,695 | -4.8% |
| Amounts receivable within one year | 40/41 | €195,125 | €138,007 | -€57,118 | -29.3% |
| Trade receivables | 40 | €195,125 | €138,007 | -€57,118 | -29.3% |
| Cash at bank and in hand | 54/58 | €166,585 | €111,342 | -€55,243 | -33.2% |
| Deferred charges and accrued income | 490/1 | €2,801 | €1,365 | -€1,437 | -51.3% |
| Total equity and liabilities | 10/49 | €594,455 | €487,572 | -€106,883 | -18.0% |
| Equity | 10/15 | €400,596 | €330,787 | -€69,809 | -17.4% |
| Contributions | 10/11 | €66,931 | €66,931 | = | 0.0% |
| Capital | 10 | €66,931 | €66,931 | = | 0.0% |
| Issued capital | 100 | €66,931 | €66,931 | = | 0.0% |
| Reserves | 13 | €94,724 | €94,724 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,338 | €7,338 | = | 0.0% |
| Legal reserve | 130 | €7,338 | €7,338 | = | 0.0% |
| Distributable reserves | 133 | €87,387 | €87,387 | = | 0.0% |
| Profit (loss) carried forward | 14 | €238,940 | €169,131 | -€69,809 | -29.2% |
| Amounts payable | 17/49 | €193,859 | €156,785 | -€37,074 | -19.1% |
| Amounts payable within one year | 42/48 | €193,859 | €156,785 | -€37,074 | -19.1% |
| Trade debts | 44 | €99,922 | €68,997 | -€30,926 | -30.9% |
| Suppliers | 440/4 | €99,922 | €68,997 | -€30,926 | -30.9% |
| Taxes, remuneration and social security | 45 | €61,758 | €47,610 | -€14,148 | -22.9% |
| Taxes | 450/3 | €38,667 | €23,977 | -€14,689 | -38.0% |
| Remuneration and social security | 454/9 | €23,092 | €23,632 | +€541 | +2.3% |
| Other amounts payable | 47/48 | €32,178 | €40,178 | +€8,000 | +24.9% |
| Remuneration, social security and pensions | 62 | €242,176 | €247,175 | +€4,999 | +2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,562 | €5,103 | -€6,459 | -55.9% |
| Other operating charges | 640/8 | €5,486 | €2,586 | -€2,900 | -52.9% |
| Non-recurring operating charges | 66A | €172 | - | -€172 | |
| Gross operating margin | 9900 | €190,451 | €190,806 | +€355 | +0.2% |
| Operating profit (loss) | 9901 | -€68,946 | -€64,059 | +€4,887 | +7.1% |
| Financial income | 75/76B | €19,439 | €18,701 | -€738 | -3.8% |
| Recurring financial income | 75 | €19,439 | €18,701 | -€738 | -3.8% |
| Financial charges | 65/66B | €18,865 | €23,671 | +€4,805 | +25.5% |
| Recurring financial charges | 65 | €18,865 | €23,671 | +€4,805 | +25.5% |
| Profit (loss) for the period before taxes | 9903 | -€68,372 | -€69,028 | -€656 | -1.0% |
| Income taxes | 67/77 | €2,090 | €781 | -€1,310 | -62.6% |
| Profit (loss) for the period | 9904 | -€70,462 | -€69,809 | +€653 | +0.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€70,462 | -€69,809 | +€653 | +0.9% |
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 10 October 2026 via checked.be.