Vanbael Construct & Maintenance: what changed
What changed
Vanbael Construct & Maintenance
NACE 25.530, Machining of metals
filed annual accounts (NBB)
Net result for the year
€9,398
2024 · €73,098-€63,699
Equity
€369,234
2024 · €359,835+€9,398
Cash
€0
2024 · -
Balance sheet total
€516,888
2024 · €545,035-€28,147
Largest movements
Assets
- Tangible fixed assets -€80,326
down €80,326 (-29.4%), from €273,057 to €192,731
of which Furniture and vehicles: -€66,673
- Receivables within one year +€39,177
up €39,177 (+15.0%), from €260,871 to €300,048
of which Other amounts receivable: +€44,088
- Current investments +€12,733
new in 2025: €12,733
Equity and liabilities
- Debts after one year -€34,126
down €34,126 (-60.4%), from €56,510 to €22,384
- Current portion of long-term debt -€27,850
down €27,850 (-59.6%), from €46,762 to €18,913
- Trade debts +€9,358
up €9,358 (+29.1%), from €32,134 to €41,492
- Reserves +€9,350
up €9,350 (+2.8%), from €336,700 to €346,050
- Short-term financial debts +€9,329
up €9,329 (+38.4%), from €24,290 to €33,619
Income statement
- Gross operating margin -€211,729
down €211,729 (-49.0%), from €432,418 to €220,689
- Staff costs -€129,643
down €129,643 (-46.3%), from €280,263 to €150,620
- Taxes -€26,214
down €26,214 (-87.4%), from €29,999 to €3,786
- Financial charges +€4,593
up €4,593 (+45.7%), from €10,047 to €14,641
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€73,098
Gross operating margin
-€211,729
Staff costs
+€129,643
Depreciation
-€1,044
Other operating charges
+€182
Other operating items
-€3,246
Financial income
+€876
Financial charges
-€4,593
Taxes
+€26,214
Result 2025
€9,398
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€39,352
Investment
+€13,295
Financing
-€52,647
Cash 2024
€0
From operations (derived)
+€39,352
Net result for the year
+€9,398
Depreciation
+€54,299
Receivables within one year
-€39,177
Deferred charges and accrued income
-€269
Trade debts
+€9,358
Tax, wage and social debts
+€5,743
Investment (derived)
+€13,295
Investment in fixed assets (net)
+€26,028
Current investments
-€12,733
Financing
-€52,647
Debts after one year
-€34,126
Current portion of long-term debt
-€27,850
Short-term financial debts
+€9,329
Cash 2025
€0
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €545,035 | €516,888 | -€28,147 | -5.2% |
| Formation expenses | 20 | - | €0 | = | |
| Fixed assets | 21/28 | €273,057 | €192,731 | -€80,326 | -29.4% |
| Intangible fixed assets | 21 | - | €0 | = | |
| Tangible fixed assets | 22/27 | €273,057 | €192,731 | -€80,326 | -29.4% |
| Land and buildings | 22 | €141,035 | €130,407 | -€10,628 | -7.5% |
| Plant, machinery and equipment | 23 | €14,565 | €12,085 | -€2,480 | -17.0% |
| Furniture and vehicles | 24 | €114,790 | €48,117 | -€66,673 | -58.1% |
| Leasing and similar rights | 25 | - | €0 | = | |
| Other tangible fixed assets | 26 | €2,667 | €2,122 | -€545 | -20.4% |
| Current assets | 29/58 | €271,978 | €324,157 | +€52,179 | +19.2% |
| Stocks and contracts in progress | 3 | €167 | €167 | = | 0.0% |
| Stocks | 30/36 | €167 | €167 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €260,871 | €300,048 | +€39,177 | +15.0% |
| Trade receivables | 40 | €87,128 | €82,218 | -€4,910 | -5.6% |
| Other amounts receivable | 41 | €173,742 | €217,830 | +€44,088 | +25.4% |
| Current investments | 50/53 | - | €12,733 | +€12,733 | |
| Cash at bank and in hand | 54/58 | - | €0 | = | |
| Deferred charges and accrued income | 490/1 | €10,939 | €11,208 | +€269 | +2.5% |
| Total equity and liabilities | 10/49 | €545,035 | €516,888 | -€28,147 | -5.2% |
| Equity | 10/15 | €359,835 | €369,234 | +€9,398 | +2.6% |
| Contributions | 10/11 | €22,000 | €22,000 | = | 0.0% |
| Reserves | 13 | €336,700 | €346,050 | +€9,350 | +2.8% |
| Distributable reserves | 133 | €336,700 | €346,050 | +€9,350 | +2.8% |
| Profit (loss) carried forward | 14 | €1,135 | €1,184 | +€48 | +4.3% |
| Amounts payable | 17/49 | €185,199 | €147,654 | -€37,546 | -20.3% |
| Amounts payable after more than one year | 17 | €56,510 | €22,384 | -€34,126 | -60.4% |
| Financial debts | 170/4 | €56,510 | €22,384 | -€34,126 | -60.4% |
| Amounts payable within one year | 42/48 | €128,564 | €125,145 | -€3,419 | -2.7% |
| Current portion of amounts payable after more than one year | 42 | €46,762 | €18,913 | -€27,850 | -59.6% |
| Financial debts | 43 | €24,290 | €33,619 | +€9,329 | +38.4% |
| Credit institutions | 430/8 | €24,290 | €33,619 | +€9,329 | +38.4% |
| Trade debts | 44 | €32,134 | €41,492 | +€9,358 | +29.1% |
| Suppliers | 440/4 | €32,134 | €41,492 | +€9,358 | +29.1% |
| Taxes, remuneration and social security | 45 | €25,378 | €31,121 | +€5,743 | +22.6% |
| Taxes | 450/3 | - | €11,077 | +€11,077 | |
| Remuneration and social security | 454/9 | €25,378 | €20,044 | -€5,335 | -21.0% |
| Accrued charges and deferred income | 492/3 | €125 | €125 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €280,263 | €150,620 | -€129,643 | -46.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,254 | €54,299 | +€1,044 | +2.0% |
| Other operating charges | 640/8 | €5,443 | €5,261 | -€182 | -3.3% |
| Non-recurring operating charges | 66A | - | €3,246 | +€3,246 | |
| Gross operating margin | 9900 | €432,418 | €220,689 | -€211,729 | -49.0% |
| Operating profit (loss) | 9901 | €93,458 | €7,262 | -€86,195 | -92.2% |
| Financial income | 75/76B | €19,686 | €20,562 | +€876 | +4.4% |
| Recurring financial income | 75 | €19,686 | €20,562 | +€876 | +4.4% |
| Financial charges | 65/66B | €10,047 | €14,641 | +€4,593 | +45.7% |
| Recurring financial charges | 65 | €10,047 | €14,641 | +€4,593 | +45.7% |
| Profit (loss) for the period before taxes | 9903 | €103,097 | €13,184 | -€89,913 | -87.2% |
| Income taxes | 67/77 | €29,999 | €3,786 | -€26,214 | -87.4% |
| Profit (loss) for the period | 9904 | €73,098 | €9,398 | -€63,699 | -87.1% |
| Profit (loss) for the period to be appropriated | 9905 | €73,098 | €9,398 | -€63,699 | -87.1% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.