VAN WAES & ZOON: 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 WAES & ZOON
Largest movements
- Cash +€61,100
up €61,100 (+74.9%), from €81,599 to €142,699
mainly Receivables within one year (+€50,459) and Depreciation (+€23,911)
- Receivables within one year -€50,459
down €50,459 (-38.2%), from €132,244 to €81,785
of which Trade receivables: -€33,178
- Stocks and contracts +€22,107
up €22,107 (+73.4%), from €30,105 to €52,212
of which Stocks: +€14,162
- Tangible fixed assets -€17,030
down €17,030 (-17.8%), from €95,699 to €78,669
of which Land and buildings: -€38,994
- Deferred charges and accrued income +€14,888
up €14,888 (+1,371%), from €1,086 to €15,974
- Debts after one year +€17,572
up €17,572 (+71.9%), from €24,445 to €42,017
- Tax, wage and social debts +€16,524
up €16,524 (+301%), from €5,492 to €22,016
- Current portion of long-term debt +€10,883
up €10,883 (+83.0%), from €13,118 to €24,001
- Profit (loss) carried forward -€9,621
down €9,621 (-3.4%), from €283,888 to €274,267
- Gross operating margin -€77,445
down €77,445 (-18.8%), from €412,563 to €335,118
- Staff costs -€14,811
down €14,811 (-4.5%), from €331,706 to €316,895
- Taxes -€14,461
down €14,461 (-93.3%), from €15,500 to €1,039
- Depreciation +€10,195
up €10,195 (+74.3%), from €13,716 to €23,911
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 | €495,733 | €526,339 | +€30,606 | +6.2% |
| Fixed assets | 21/28 | €95,699 | €78,669 | -€17,030 | -17.8% |
| Tangible fixed assets | 22/27 | €95,699 | €78,669 | -€17,030 | -17.8% |
| Land and buildings | 22 | €38,994 | - | -€38,994 | |
| Plant, machinery and equipment | 23 | - | €3,419 | +€3,419 | |
| Furniture and vehicles | 24 | €56,705 | €75,250 | +€18,545 | +32.7% |
| Current assets | 29/58 | €400,034 | €447,670 | +€47,636 | +11.9% |
| Amounts receivable after more than one year | 29 | €155,000 | €155,000 | = | 0.0% |
| Other amounts receivable | 291 | €155,000 | €155,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €30,105 | €52,212 | +€22,107 | +73.4% |
| Stocks | 30/36 | €20,105 | €34,267 | +€14,162 | +70.4% |
| Contracts in progress | 37 | €10,000 | €17,945 | +€7,945 | +79.5% |
| Amounts receivable within one year | 40/41 | €132,244 | €81,785 | -€50,459 | -38.2% |
| Trade receivables | 40 | €83,273 | €50,095 | -€33,178 | -39.8% |
| Other amounts receivable | 41 | €48,971 | €31,690 | -€17,281 | -35.3% |
| Cash at bank and in hand | 54/58 | €81,599 | €142,699 | +€61,100 | +74.9% |
| Deferred charges and accrued income | 490/1 | €1,086 | €15,974 | +€14,888 | +1,371% |
| Total equity and liabilities | 10/49 | €495,733 | €526,339 | +€30,606 | +6.2% |
| Equity | 10/15 | €386,710 | €377,089 | -€9,621 | -2.5% |
| Contributions | 10/11 | €15,493 | €15,493 | = | 0.0% |
| Reserves | 13 | €87,329 | €87,329 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,379 | €1,379 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,379 | €1,379 | = | 0.0% |
| Distributable reserves | 133 | €85,950 | €85,950 | = | 0.0% |
| Profit (loss) carried forward | 14 | €283,888 | €274,267 | -€9,621 | -3.4% |
| Amounts payable | 17/49 | €109,023 | €149,250 | +€40,227 | +36.9% |
| Amounts payable after more than one year | 17 | €24,445 | €42,017 | +€17,572 | +71.9% |
| Financial debts | 170/4 | €24,445 | €42,017 | +€17,572 | +71.9% |
| Amounts payable within one year | 42/48 | €84,578 | €107,233 | +€22,655 | +26.8% |
| Current portion of amounts payable after more than one year | 42 | €13,118 | €24,001 | +€10,883 | +83.0% |
| Trade debts | 44 | €65,968 | €61,216 | -€4,752 | -7.2% |
| Suppliers | 440/4 | €65,968 | €61,216 | -€4,752 | -7.2% |
| Taxes, remuneration and social security | 45 | €5,492 | €22,016 | +€16,524 | +301% |
| Remuneration and social security | 454/9 | €5,492 | €22,016 | +€16,524 | +301% |
| Remuneration, social security and pensions | 62 | €331,706 | €316,895 | -€14,811 | -4.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,716 | €23,911 | +€10,195 | +74.3% |
| Other operating charges | 640/8 | €1,691 | - | -€1,691 | |
| Gross operating margin | 9900 | €412,563 | €335,118 | -€77,445 | -18.8% |
| Operating profit (loss) | 9901 | €65,450 | -€5,688 | -€71,138 | |
| Financial charges | 65/66B | €2,832 | €2,894 | +€62 | +2.2% |
| Recurring financial charges | 65 | €2,832 | €2,894 | +€62 | +2.2% |
| Non-recurring financial charges | 66B | €2,832 | €2,894 | +€62 | +2.2% |
| Profit (loss) for the period before taxes | 9903 | €62,618 | -€8,582 | -€71,200 | |
| Income taxes | 67/77 | €15,500 | €1,039 | -€14,461 | -93.3% |
| Profit (loss) for the period | 9904 | €47,118 | -€9,621 | -€56,739 | |
| Profit (loss) for the period to be appropriated | 9905 | €47,118 | -€9,621 | -€56,739 |
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 31 October 2026 via checked.be.