VANDE GINSTE - BEERNAERT: 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.
VANDE GINSTE - BEERNAERT
Largest movements
- Receivables within one year +€117,657
up €117,657 (+960%), from €12,258 to €129,916
of which Trade receivables: +€125,174
- Stocks and contracts -€99,086
down €99,086 (-66.1%), from €149,971 to €50,885
- Cash -€49,594
down €49,594 (-71.8%), from €69,119 to €19,525
mainly Receivables within one year (-€117,657) and Trade debts (-€42,729)
- Tangible fixed assets -€22,655
down €22,655 (-19.1%), from €118,659 to €96,003
of which Plant, machinery and equipment: -€12,700
- Trade debts -€42,729
down €42,729 (-22.0%), from €194,112 to €151,382
- Debts after one year -€18,305
down €18,305 (-29.6%), from €61,884 to €43,579
- Reserves -€8,060
down €8,060 (-21.1%), from €38,287 to €30,227
- Other debts +€6,207
up €6,207 (+73.9%), from €8,402 to €14,609
- Tax, wage and social debts +€6,014
up €6,014 (+518%), from €1,160 to €7,174
- Gross operating margin -€6,066
down €6,066 (-15.2%), from €40,032 to €33,966
- Depreciation +€5,678
up €5,678 (+18.5%), from €30,613 to €36,291
- Taxes -€848
down €848 (-72.8%), from €1,165 to €317
- Financial charges +€443
up €443 (+14.1%), from €3,133 to €3,576
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 | €352,666 | €298,722 | -€53,944 | -15.3% |
| Fixed assets | 21/28 | €118,659 | €96,003 | -€22,655 | -19.1% |
| Tangible fixed assets | 22/27 | €118,659 | €96,003 | -€22,655 | -19.1% |
| Land and buildings | 22 | €10,218 | €8,450 | -€1,768 | -17.3% |
| Plant, machinery and equipment | 23 | €16,114 | €3,414 | -€12,700 | -78.8% |
| Furniture and vehicles | 24 | €92,327 | €84,140 | -€8,187 | -8.9% |
| Current assets | 29/58 | €234,008 | €202,718 | -€31,289 | -13.4% |
| Stocks and contracts in progress | 3 | €149,971 | €50,885 | -€99,086 | -66.1% |
| Stocks | 30/36 | €149,971 | €50,885 | -€99,086 | -66.1% |
| Amounts receivable within one year | 40/41 | €12,258 | €129,916 | +€117,657 | +960% |
| Trade receivables | 40 | €4,742 | €129,916 | +€125,174 | +2,640% |
| Other amounts receivable | 41 | €7,516 | - | -€7,516 | |
| Cash at bank and in hand | 54/58 | €69,119 | €19,525 | -€49,594 | -71.8% |
| Deferred charges and accrued income | 490/1 | €2,659 | €2,393 | -€266 | -10.0% |
| Total equity and liabilities | 10/49 | €352,666 | €298,722 | -€53,944 | -15.3% |
| Equity | 10/15 | €44,487 | €36,427 | -€8,060 | -18.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €38,287 | €30,227 | -€8,060 | -21.1% |
| Distributable reserves | 133 | €38,287 | €30,227 | -€8,060 | -21.1% |
| Amounts payable | 17/49 | €308,179 | €262,295 | -€45,884 | -14.9% |
| Amounts payable after more than one year | 17 | €61,884 | €43,579 | -€18,305 | -29.6% |
| Financial debts | 170/4 | €61,884 | €43,579 | -€18,305 | -29.6% |
| Amounts payable within one year | 42/48 | €220,918 | €191,299 | -€29,619 | -13.4% |
| Current portion of amounts payable after more than one year | 42 | €17,244 | €18,133 | +€889 | +5.2% |
| Trade debts | 44 | €194,112 | €151,382 | -€42,729 | -22.0% |
| Suppliers | 440/4 | €194,112 | €151,382 | -€42,729 | -22.0% |
| Taxes, remuneration and social security | 45 | €1,160 | €7,174 | +€6,014 | +518% |
| Taxes | 450/3 | €1,160 | €7,174 | +€6,014 | +518% |
| Other amounts payable | 47/48 | €8,402 | €14,609 | +€6,207 | +73.9% |
| Accrued charges and deferred income | 492/3 | €25,377 | €27,417 | +€2,040 | +8.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,613 | €36,291 | +€5,678 | +18.5% |
| Other operating charges | 640/8 | €2,539 | €2,324 | -€215 | -8.5% |
| Gross operating margin | 9900 | €40,032 | €33,966 | -€6,066 | -15.2% |
| Operating profit (loss) | 9901 | €6,880 | -€4,649 | -€11,529 | |
| Financial income | 75/76B | €126 | €482 | +€356 | +282% |
| Recurring financial income | 75 | €126 | €482 | +€356 | +282% |
| Financial charges | 65/66B | €3,133 | €3,576 | +€443 | +14.1% |
| Recurring financial charges | 65 | €3,133 | €3,576 | +€443 | +14.1% |
| Profit (loss) for the period before taxes | 9903 | €3,872 | -€7,744 | -€11,616 | |
| Income taxes | 67/77 | €1,165 | €317 | -€848 | -72.8% |
| Profit (loss) for the period | 9904 | €2,707 | -€8,060 | -€10,768 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,707 | -€8,060 | -€10,768 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.