VanBelGi: what changed
Two fiscal 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.
VanBelGi
Largest movements
- Cash +€54,961
up €54,961 (+243.6%), from €22,565 to €77,526
mainly Current investments (+€36,188) and Receivables within one year (+€20,728)
- Current investments -€36,188
down €36,188 (-90.5%), from €40,000 to €3,812
- Receivables within one year -€20,728
down €20,728 (-48.2%), from €43,025 to €22,297
of which Other amounts receivable: -€19,346
- Deferred charges and accrued income +€18,881
up €18,881 (+878.7%), from €2,149 to €21,029
- Tangible fixed assets -€10,665
down €10,665 (-23.9%), from €44,578 to €33,912
of which Furniture and vehicles: -€9,366
- Trade debts +€17,109
up €17,109 (+780.1%), from €2,193 to €19,302
- Tax, wage and social debts -€14,669
down €14,669 (-58.0%), from €25,301 to €10,632
- Reserves +€11,411
up €11,411 (+13.2%), from €86,724 to €98,135
- Debts after one year -€7,887
down €7,887 (-28.7%), from €27,507 to €19,620
- Gross operating margin -€48,593
down €48,593 (-64.9%), from €74,820 to €26,227
- Taxes -€10,850
down €10,850 (-74.6%), from €14,542 to €3,692
- Depreciation +€2,829
up €2,829 (+36.1%), from €7,837 to €10,665
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 | €152,317 | €158,577 | +€6,260 | +4.1% |
| Fixed assets | 21/28 | €44,578 | €33,912 | -€10,665 | -23.9% |
| Tangible fixed assets | 22/27 | €44,578 | €33,912 | -€10,665 | -23.9% |
| Plant, machinery and equipment | 23 | €4,214 | €2,915 | -€1,299 | -30.8% |
| Furniture and vehicles | 24 | €40,364 | €30,998 | -€9,366 | -23.2% |
| Current assets | 29/58 | €107,739 | €124,665 | +€16,926 | +15.7% |
| Amounts receivable within one year | 40/41 | €43,025 | €22,297 | -€20,728 | -48.2% |
| Trade receivables | 40 | €3,681 | €2,299 | -€1,382 | -37.5% |
| Other amounts receivable | 41 | €39,344 | €19,998 | -€19,346 | -49.2% |
| Current investments | 50/53 | €40,000 | €3,812 | -€36,188 | -90.5% |
| Cash at bank and in hand | 54/58 | €22,565 | €77,526 | +€54,961 | +243.6% |
| Deferred charges and accrued income | 490/1 | €2,149 | €21,029 | +€18,881 | +878.7% |
| Total equity and liabilities | 10/49 | €152,317 | €158,577 | +€6,260 | +4.1% |
| Equity | 10/15 | €89,724 | €101,135 | +€11,411 | +12.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €86,724 | €98,135 | +€11,411 | +13.2% |
| Distributable reserves | 133 | €86,724 | €98,135 | +€11,411 | +13.2% |
| Amounts payable | 17/49 | €62,592 | €57,442 | -€5,151 | -8.2% |
| Amounts payable after more than one year | 17 | €27,507 | €19,620 | -€7,887 | -28.7% |
| Financial debts | 170/4 | €27,507 | €19,620 | -€7,887 | -28.7% |
| Amounts payable within one year | 42/48 | €35,085 | €37,821 | +€2,736 | +7.8% |
| Current portion of amounts payable after more than one year | 42 | €7,591 | €7,887 | +€296 | +3.9% |
| Trade debts | 44 | €2,193 | €19,302 | +€17,109 | +780.1% |
| Suppliers | 440/4 | €2,193 | €19,302 | +€17,109 | +780.1% |
| Taxes, remuneration and social security | 45 | €25,301 | €10,632 | -€14,669 | -58.0% |
| Taxes | 450/3 | €25,301 | €10,632 | -€14,669 | -58.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,837 | €10,665 | +€2,829 | +36.1% |
| Other operating charges | 640/8 | €602 | €738 | +€136 | +22.6% |
| Non-recurring operating charges | 66A | €499 | €0 | -€499 | -100.0% |
| Gross operating margin | 9900 | €74,820 | €26,227 | -€48,593 | -64.9% |
| Operating profit (loss) | 9901 | €65,882 | €14,824 | -€51,058 | -77.5% |
| Financial income | 75/76B | €2,149 | €1,971 | -€178 | -8.3% |
| Recurring financial income | 75 | €2,149 | €1,971 | -€178 | -8.3% |
| Financial charges | 65/66B | €1,265 | €1,692 | +€427 | +33.7% |
| Recurring financial charges | 65 | €1,265 | €1,692 | +€427 | +33.7% |
| Profit (loss) for the period before taxes | 9903 | €66,766 | €15,103 | -€51,663 | -77.4% |
| Income taxes | 67/77 | €14,542 | €3,692 | -€10,850 | -74.6% |
| Profit (loss) for the period | 9904 | €52,224 | €11,411 | -€40,813 | -78.1% |
| Profit (loss) for the period to be appropriated | 9905 | €52,224 | €11,411 | -€40,813 | -78.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.