VANBETSBRUGGE: 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.
What changed
VANBETSBRUGGE
NACE 43.222, Installation of electric heating, air conditioning, cooling and ventilation
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€384,823
2024 · €522,244-€137,421
Equity
€1.6m
2024 · €1.6m-€177
Cash
€795,123
2024 · €793,729+€1,394
Balance sheet total
€4.1m
2024 · €4.6m-€518,263
Largest movements
Assets
- Receivables within one year -€1.0m
down €1.0m (-34.6%), from €3.0m to €2.0m
of which Trade receivables: -€945,178
- Stocks and contracts +€563,650
up €563,650 (+96.4%), from €584,682 to €1.1m
of which Contracts in progress: +€566,740
Equity and liabilities
- Trade debts -€376,517
down €376,517 (-24.0%), from €1.6m to €1.2m
- Other debts -€91,143
down €91,143 (-7.2%), from €1.3m to €1.2m
- Tax, wage and social debts -€49,789
down €49,789 (-25.5%), from €195,511 to €145,722
of which Remuneration and social security: -€53,681
Income statement
- Gross operating margin -€187,506
down €187,506 (-8.2%), from €2.3m to €2.1m
- Taxes -€50,168
down €50,168 (-26.8%), from €187,282 to €137,113
- Financial charges +€26,434
up €26,434 (+58.2%), from €45,390 to €71,824
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.
Result 2024
€522,244
Gross operating margin
-€187,506
Staff costs
+€9,504
Depreciation
-€1,714
Other operating charges
+€16,520
Financial income
+€2,040
Financial charges
-€26,434
Taxes
+€50,168
Result 2025
€384,823
raises the resultlowers the result
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.
From operations
+€399,239
Investment
-€12,845
Financing
-€385,000
Cash 2024
€793,729
From operations (derived)
+€399,239
Net result for the year
+€384,823
Depreciation
+€59,107
Stocks and contracts
-€563,650
Receivables within one year
+€1.0m
Deferred charges and accrued income
-€4,127
Trade debts
-€376,517
Tax, wage and social debts
-€49,789
Smaller working-capital items
-€638
Other debts
-€91,143
Investment (derived)
-€12,845
Investment in fixed assets (net)
-€12,845
Financing
-€385,000
Contributions, distributions and other
-€385,000
Cash 2025
€795,123
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,627,716 | €4,109,453 | -€518,263 | -11.2% |
| Fixed assets | 21/28 | €203,859 | €157,597 | -€46,263 | -22.7% |
| Tangible fixed assets | 22/27 | €203,859 | €157,597 | -€46,263 | -22.7% |
| Land and buildings | 22 | €735 | €0 | -€735 | -100% |
| Plant, machinery and equipment | 23 | €9,918 | €17,579 | +€7,661 | +77.2% |
| Furniture and vehicles | 24 | €193,206 | €140,018 | -€53,189 | -27.5% |
| Current assets | 29/58 | €4,423,856 | €3,951,856 | -€472,000 | -10.7% |
| Stocks and contracts in progress | 3 | €584,682 | €1,148,332 | +€563,650 | +96.4% |
| Stocks | 30/36 | €301,422 | €298,332 | -€3,090 | -1.0% |
| Contracts in progress | 37 | €283,260 | €850,000 | +€566,740 | +200% |
| Amounts receivable within one year | 40/41 | €3,005,092 | €1,963,921 | -€1.0m | -34.6% |
| Trade receivables | 40 | €2,759,773 | €1,814,594 | -€945,178 | -34.2% |
| Other amounts receivable | 41 | €245,319 | €149,326 | -€95,993 | -39.1% |
| Cash at bank and in hand | 54/58 | €793,729 | €795,123 | +€1,394 | +0.2% |
| Deferred charges and accrued income | 490/1 | €40,353 | €44,480 | +€4,127 | +10.2% |
| Total equity and liabilities | 10/49 | €4,627,716 | €4,109,453 | -€518,263 | -11.2% |
| Equity | 10/15 | €1,585,913 | €1,585,737 | -€177 | 0.0% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €1,523,913 | €1,523,737 | -€177 | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €1,517,713 | €1,517,537 | -€177 | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €3,041,802 | €2,523,716 | -€518,086 | -17.0% |
| Amounts payable within one year | 42/48 | €3,041,670 | €2,521,678 | -€519,992 | -17.1% |
| Trade debts | 44 | €1,568,857 | €1,192,340 | -€376,517 | -24.0% |
| Suppliers | 440/4 | €1,568,857 | €1,192,340 | -€376,517 | -24.0% |
| Advances received on contracts in progress | 46 | €2,724 | €182 | -€2,543 | -93.3% |
| Taxes, remuneration and social security | 45 | €195,511 | €145,722 | -€49,789 | -25.5% |
| Taxes | 450/3 | €74,110 | €78,002 | +€3,892 | +5.3% |
| Remuneration and social security | 454/9 | €121,401 | €67,720 | -€53,681 | -44.2% |
| Other amounts payable | 47/48 | €1,274,578 | €1,183,435 | -€91,143 | -7.2% |
| Accrued charges and deferred income | 492/3 | €132 | €2,038 | +€1,905 | +1,439% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €1,447,395 | €1,437,891 | -€9,504 | -0.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,394 | €59,107 | +€1,714 | +3.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €24,135 | €7,615 | -€16,520 | -68.4% |
| Gross operating margin | 9900 | €2,280,726 | €2,093,219 | -€187,506 | -8.2% |
| Operating profit (loss) | 9901 | €751,802 | €588,606 | -€163,196 | -21.7% |
| Financial income | 75/76B | €3,115 | €5,155 | +€2,040 | +65.5% |
| Recurring financial income | 75 | €3,115 | €5,155 | +€2,040 | +65.5% |
| Financial charges | 65/66B | €45,390 | €71,824 | +€26,434 | +58.2% |
| Recurring financial charges | 65 | €45,390 | €71,824 | +€26,434 | +58.2% |
| Profit (loss) for the period before taxes | 9903 | €709,526 | €521,937 | -€187,589 | -26.4% |
| Income taxes | 67/77 | €187,282 | €137,113 | -€50,168 | -26.8% |
| Profit (loss) for the period | 9904 | €522,244 | €384,823 | -€137,421 | -26.3% |
| Profit (loss) for the period to be appropriated | 9905 | €522,244 | €384,823 | -€137,421 | -26.3% |
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 16 October 2026 via checked.be.