VANBERGHEN: 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.
VANBERGHEN
Largest movements
- Current investments +€118,576
up €118,576 (+38.7%), from €306,068 to €424,644
- Cash -€78,653
down €78,653 (-42.3%), from €185,787 to €107,134
mainly Current investments (-€118,576) and Receivables within one year (-€9,451)
- Receivables within one year +€9,451
up €9,451 (+58.9%), from €16,056 to €25,507
of which Trade receivables: +€15,030
- Reserves +€34,497
up €34,497 (+5.1%), from €671,931 to €706,428
of which Distributable reserves: +€34,497
- Gross operating margin +€13,871
up €13,871 (+36.1%), from €38,416 to €52,287
- Taxes +€5,131
up €5,131 (+41.3%), from €12,412 to €17,543
- Depreciation +€3,239
up €3,239 (+38.6%), from €8,396 to €11,635
- Financial income +€848
up €848 (+7.4%), from €11,404 to €12,252
- Other operating charges -€615
down €615 (-44.3%), from €1,389 to €774
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 | €731,812 | €774,572 | +€42,760 | +5.8% |
| Fixed assets | 21/28 | €66,259 | €60,960 | -€5,300 | -8.0% |
| Tangible fixed assets | 22/27 | €66,110 | €60,811 | -€5,300 | -8.0% |
| Plant, machinery and equipment | 23 | €3,048 | €7,680 | +€4,632 | +152% |
| Furniture and vehicles | 24 | €63,062 | €53,131 | -€9,931 | -15.7% |
| Financial fixed assets | 28 | €149 | €149 | = | 0.0% |
| Current assets | 29/58 | €665,553 | €713,612 | +€48,059 | +7.2% |
| Stocks and contracts in progress | 3 | €154,740 | €153,359 | -€1,381 | -0.9% |
| Stocks | 30/36 | €154,740 | €153,359 | -€1,381 | -0.9% |
| Amounts receivable within one year | 40/41 | €16,056 | €25,507 | +€9,451 | +58.9% |
| Trade receivables | 40 | - | €15,030 | +€15,030 | |
| Other amounts receivable | 41 | €16,056 | €10,477 | -€5,579 | -34.7% |
| Current investments | 50/53 | €306,068 | €424,644 | +€118,576 | +38.7% |
| Cash at bank and in hand | 54/58 | €185,787 | €107,134 | -€78,653 | -42.3% |
| Deferred charges and accrued income | 490/1 | €2,902 | €2,968 | +€66 | +2.3% |
| Total equity and liabilities | 10/49 | €731,812 | €774,572 | +€42,760 | +5.8% |
| Equity | 10/15 | €690,931 | €725,428 | +€34,497 | +5.0% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €671,931 | €706,428 | +€34,497 | +5.1% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €671,931 | €706,428 | +€34,497 | +5.1% |
| Amounts payable | 17/49 | €40,881 | €49,144 | +€8,263 | +20.2% |
| Amounts payable within one year | 42/48 | €40,881 | €49,144 | +€8,263 | +20.2% |
| Trade debts | 44 | €32,714 | €40,007 | +€7,293 | +22.3% |
| Suppliers | 440/4 | €32,714 | €40,007 | +€7,293 | +22.3% |
| Taxes, remuneration and social security | 45 | €1,298 | €1,592 | +€295 | +22.7% |
| Taxes | 450/3 | €1,298 | €1,592 | +€295 | +22.7% |
| Other amounts payable | 47/48 | €6,869 | €7,545 | +€676 | +9.8% |
| Non-recurring operating income | 76A | €6,089 | €0 | -€6,089 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,396 | €11,635 | +€3,239 | +38.6% |
| Other operating charges | 640/8 | €1,389 | €774 | -€615 | -44.3% |
| Gross operating margin | 9900 | €38,416 | €52,287 | +€13,871 | +36.1% |
| Operating profit (loss) | 9901 | €28,632 | €39,879 | +€11,247 | +39.3% |
| Financial income | 75/76B | €11,404 | €12,252 | +€848 | +7.4% |
| Recurring financial income | 75 | €11,404 | €12,252 | +€848 | +7.4% |
| Financial charges | 65/66B | €251 | €91 | -€159 | -63.5% |
| Recurring financial charges | 65 | €251 | €91 | -€159 | -63.5% |
| Profit (loss) for the period before taxes | 9903 | €39,785 | €52,040 | +€12,255 | +30.8% |
| Income taxes | 67/77 | €12,412 | €17,543 | +€5,131 | +41.3% |
| Profit (loss) for the period | 9904 | €27,373 | €34,497 | +€7,124 | +26.0% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €27,373 | €34,497 | +€7,124 | +26.0% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.