Vanbesien: 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.
Vanbesien
Largest movements
- Receivables within one year +€2.0m
up €2.0m (+53.6%), from €3.7m to €5.6m
of which Trade receivables: +€1.9m
- Tangible fixed assets +€79,029
up €79,029 (+45.7%), from €172,987 to €252,016
of which Furniture and vehicles: +€68,219
- Trade debts +€1.8m
up €1.8m (+56.6%), from €3.1m to €4.9m
- Reserves +€192,016
up €192,016 (+57.4%), from €334,310 to €526,326
of which Tax-exempt reserves: +€189,450
- Other debts +€100,840
up €100,840 (+34.7%), from €290,691 to €391,532
- Staff costs +€30,234
up €30,234 (+5.6%), from €540,714 to €570,948
- Other operating charges -€29,971
down €29,971 (-82.4%), from €36,380 to €6,409
- Gross operating margin +€29,720
up €29,720 (+3.5%), from €860,077 to €889,797
- Taxes +€16,045
up €16,045 (+44.6%), from €35,957 to €52,001
- Depreciation +€10,042
up €10,042 (+20.0%), from €50,115 to €60,157
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,016,914 | €6,117,680 | +€2.1m | +52.3% |
| Fixed assets | 21/28 | €172,987 | €252,016 | +€79,029 | +45.7% |
| Tangible fixed assets | 22/27 | €172,987 | €252,016 | +€79,029 | +45.7% |
| Plant, machinery and equipment | 23 | €41,871 | €53,461 | +€11,590 | +27.7% |
| Furniture and vehicles | 24 | €129,101 | €197,320 | +€68,219 | +52.8% |
| Other tangible fixed assets | 26 | €2,015 | €1,235 | -€780 | -38.7% |
| Current assets | 29/58 | €3,843,927 | €5,865,664 | +€2.0m | +52.6% |
| Stocks and contracts in progress | 3 | €125,000 | €167,089 | +€42,089 | +33.7% |
| Stocks | 30/36 | €125,000 | €167,089 | +€42,089 | +33.7% |
| Amounts receivable within one year | 40/41 | €3,661,957 | €5,624,780 | +€2.0m | +53.6% |
| Trade receivables | 40 | €3,442,455 | €5,311,212 | +€1.9m | +54.3% |
| Other amounts receivable | 41 | €219,502 | €313,568 | +€94,066 | +42.9% |
| Cash at bank and in hand | 54/58 | €45,648 | €19,569 | -€26,078 | -57.1% |
| Deferred charges and accrued income | 490/1 | €11,322 | €54,226 | +€42,904 | +379% |
| Total equity and liabilities | 10/49 | €4,016,914 | €6,117,680 | +€2.1m | +52.3% |
| Equity | 10/15 | €352,860 | €544,876 | +€192,016 | +54.4% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €334,310 | €526,326 | +€192,016 | +57.4% |
| Tax-exempt reserves | 132 | - | €189,450 | +€189,450 | |
| Distributable reserves | 133 | €334,310 | €336,876 | +€2,566 | +0.8% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €3,664,054 | €5,572,804 | +€1.9m | +52.1% |
| Amounts payable after more than one year | 17 | €114,917 | €132,417 | +€17,500 | +15.2% |
| Financial debts | 170/4 | €114,917 | €132,417 | +€17,500 | +15.2% |
| Amounts payable within one year | 42/48 | €3,549,138 | €5,440,388 | +€1.9m | +53.3% |
| Current portion of amounts payable after more than one year | 42 | €35,000 | €53,000 | +€18,000 | +51.4% |
| Financial debts | 43 | €78,722 | €58,843 | -€19,880 | -25.3% |
| Credit institutions | 430/8 | €78,722 | €58,843 | -€19,880 | -25.3% |
| Trade debts | 44 | €3,130,023 | €4,902,876 | +€1.8m | +56.6% |
| Suppliers | 440/4 | €3,130,023 | €4,902,876 | +€1.8m | +56.6% |
| Taxes, remuneration and social security | 45 | €14,701 | €34,137 | +€19,436 | +132% |
| Taxes | 450/3 | €7,833 | €10,511 | +€2,677 | +34.2% |
| Remuneration and social security | 454/9 | €6,868 | €23,626 | +€16,759 | +244% |
| Other amounts payable | 47/48 | €290,691 | €391,532 | +€100,840 | +34.7% |
| Remuneration, social security and pensions | 62 | €540,714 | €570,948 | +€30,234 | +5.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,115 | €60,157 | +€10,042 | +20.0% |
| Other operating charges | 640/8 | €36,380 | €6,409 | -€29,971 | -82.4% |
| Gross operating margin | 9900 | €860,077 | €889,797 | +€29,720 | +3.5% |
| Operating profit (loss) | 9901 | €232,868 | €252,283 | +€19,415 | +8.3% |
| Financial income | 75/76B | €274 | €1,040 | +€765 | +279% |
| Recurring financial income | 75 | €274 | €1,040 | +€765 | +279% |
| Financial charges | 65/66B | €10,129 | €9,305 | -€824 | -8.1% |
| Recurring financial charges | 65 | €10,129 | €9,305 | -€824 | -8.1% |
| Profit (loss) for the period before taxes | 9903 | €223,013 | €244,018 | +€21,005 | +9.4% |
| Income taxes | 67/77 | €35,957 | €52,001 | +€16,045 | +44.6% |
| Profit (loss) for the period | 9904 | €187,056 | €192,016 | +€4,960 | +2.7% |
| Transfer to tax-exempt reserves | 689 | - | €189,450 | +€189,450 | |
| Profit (loss) for the period to be appropriated | 9905 | €187,056 | €2,566 | -€184,490 | -98.6% |
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 20 October 2026 via checked.be.