VANAERDE KOEN: 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.
VANAERDE KOEN
Largest movements
- Cash -€57,315
down €57,315 (-25.0%), from €229,316 to €172,001
mainly Trade debts (-€90,791) and Contributions, distributions and other (-€61,666)
- Receivables within one year +€29,821
up €29,821 (+17.6%), from €169,915 to €199,736
of which Other amounts receivable: +€22,662
- Tangible fixed assets -€5,594
down €5,594 (-9.1%), from €61,504 to €55,911
of which Furniture and vehicles: -€4,331
- Trade debts -€90,791
down €90,791 (-62.8%), from €144,481 to €53,690
- Debts after one year +€51,000
up €51,000 (+63.8%), from €80,000 to €131,000
- Provisions -€12,943
down €12,943 (-62.0%), from €20,870 to €7,927
- Reserves +€12,565
up €12,565 (+14.3%), from €87,853 to €100,418
- Other debts +€7,105
up €7,105 (+5.9%), from €120,570 to €127,675
- Provisions -€11,443
down €11,443 (-763%), from -€1,500 to -€12,943
- Gross operating margin +€6,872
up €6,872 (+5.9%), from €117,240 to €124,112
- Taxes +€3,247
up €3,247 (+21.1%), from €15,398 to €18,645
- Depreciation -€1,493
down €1,493 (-3.9%), from €37,981 to €36,488
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 | €466,607 | €432,284 | -€34,322 | -7.4% |
| Fixed assets | 21/28 | €61,758 | €55,911 | -€5,847 | -9.5% |
| Tangible fixed assets | 22/27 | €61,504 | €55,911 | -€5,594 | -9.1% |
| Plant, machinery and equipment | 23 | €4,086 | €2,823 | -€1,263 | -30.9% |
| Furniture and vehicles | 24 | €57,418 | €53,088 | -€4,331 | -7.5% |
| Financial fixed assets | 28 | €254 | - | -€254 | |
| Current assets | 29/58 | €404,849 | €376,374 | -€28,475 | -7.0% |
| Stocks and contracts in progress | 3 | €2,954 | €2,298 | -€656 | -22.2% |
| Stocks | 30/36 | €2,954 | €2,298 | -€656 | -22.2% |
| Amounts receivable within one year | 40/41 | €169,915 | €199,736 | +€29,821 | +17.6% |
| Trade receivables | 40 | €141,929 | €149,088 | +€7,159 | +5.0% |
| Other amounts receivable | 41 | €27,986 | €50,648 | +€22,662 | +81.0% |
| Cash at bank and in hand | 54/58 | €229,316 | €172,001 | -€57,315 | -25.0% |
| Deferred charges and accrued income | 490/1 | €2,664 | €2,338 | -€325 | -12.2% |
| Total equity and liabilities | 10/49 | €466,607 | €432,284 | -€34,322 | -7.4% |
| Equity | 10/15 | €92,853 | €105,418 | +€12,565 | +13.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €87,853 | €100,418 | +€12,565 | +14.3% |
| Distributable reserves | 133 | €87,853 | €100,418 | +€12,565 | +14.3% |
| Provisions and deferred taxes | 16 | €20,870 | €7,927 | -€12,943 | -62.0% |
| Provisions for liabilities and charges | 160/5 | €20,870 | €7,927 | -€12,943 | -62.0% |
| Major repairs and maintenance | 162 | €20,870 | €7,927 | -€12,943 | -62.0% |
| Amounts payable | 17/49 | €352,883 | €318,939 | -€33,945 | -9.6% |
| Amounts payable after more than one year | 17 | €80,000 | €131,000 | +€51,000 | +63.8% |
| Other amounts payable | 178/9 | €80,000 | €131,000 | +€51,000 | +63.8% |
| Amounts payable within one year | 42/48 | €265,051 | €181,365 | -€83,686 | -31.6% |
| Trade debts | 44 | €144,481 | €53,690 | -€90,791 | -62.8% |
| Suppliers | 440/4 | €144,481 | €53,690 | -€90,791 | -62.8% |
| Other amounts payable | 47/48 | €120,570 | €127,675 | +€7,105 | +5.9% |
| Accrued charges and deferred income | 492/3 | €7,833 | €6,574 | -€1,259 | -16.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,981 | €36,488 | -€1,493 | -3.9% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€1,500 | -€12,943 | -€11,443 | -763% |
| Other operating charges | 640/8 | €1,210 | €1,252 | +€42 | +3.5% |
| Non-recurring operating charges | 66A | - | €1,106 | +€1,106 | |
| Gross operating margin | 9900 | €117,240 | €124,112 | +€6,872 | +5.9% |
| Operating profit (loss) | 9901 | €79,548 | €98,208 | +€18,660 | +23.5% |
| Financial income | 75/76B | €1,716 | €1,641 | -€75 | -4.4% |
| Recurring financial income | 75 | €1,716 | €1,641 | -€75 | -4.4% |
| Financial charges | 65/66B | €8,118 | €6,974 | -€1,144 | -14.1% |
| Recurring financial charges | 65 | €8,118 | €6,974 | -€1,144 | -14.1% |
| Profit (loss) for the period before taxes | 9903 | €73,146 | €92,876 | +€19,729 | +27.0% |
| Income taxes | 67/77 | €15,398 | €18,645 | +€3,247 | +21.1% |
| Profit (loss) for the period | 9904 | €57,748 | €74,231 | +€16,483 | +28.5% |
| Profit (loss) for the period to be appropriated | 9905 | €57,748 | €74,231 | +€16,483 | +28.5% |
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 18 October 2026 via checked.be.