VANEECKHOUTTE KARL: 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.
VANEECKHOUTTE KARL
Largest movements
- Receivables within one year +€17,950
up €17,950 (+72.3%), from €24,811 to €42,761
of which Trade receivables: +€13,088
- Tangible fixed assets -€17,082
down €17,082 (-25.6%), from €66,802 to €49,720
of which Leasing and similar rights: -€14,631
- Stocks and contracts -€9,656
down €9,656 (-62.8%), from €15,379 to €5,724
- Cash +€8,549
up €8,549 (+90.6%), from €9,436 to €17,984
mainly Depreciation (+€19,430) and Trade debts (+€11,616)
- Tax, wage and social debts -€15,078
down €15,078 (-99.7%), from €15,117 to €39
- Trade debts +€11,616
up €11,616 (+146%), from €7,973 to €19,589
- Debts after one year +€9,206
up €9,206 (+15.7%), from €58,498 to €67,705
of which Other amounts payable: +€21,897
- Other debts -€9,189
down €9,189 (-100%), from €9,189 to €0
- Profit (loss) carried forward +€2,804
up €2,804 (+12.5%), from -€22,387 to -€19,584
- Gross operating margin -€69,402
down €69,402, from €46,676 to -€22,726
- Write-downs -€54,714
down €54,714, from €0 to -€54,714
- Depreciation +€7,915
up €7,915 (+68.7%), from €11,514 to €19,430
- Financial charges -€1,574
down €1,574 (-22.6%), from €6,975 to €5,401
of which Financial charges: -€1,574
- Taxes -€1,414
down €1,414 (-50.3%), from €2,809 to €1,395
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 | €118,679 | €118,317 | -€362 | -0.3% |
| Fixed assets | 21/28 | €68,566 | €51,484 | -€17,082 | -24.9% |
| Tangible fixed assets | 22/27 | €66,802 | €49,720 | -€17,082 | -25.6% |
| Plant, machinery and equipment | 23 | €2,107 | €3,093 | +€986 | +46.8% |
| Furniture and vehicles | 24 | €14,046 | €10,609 | -€3,437 | -24.5% |
| Leasing and similar rights | 25 | €50,649 | €36,018 | -€14,631 | -28.9% |
| Financial fixed assets | 28 | €1,764 | €1,764 | = | 0.0% |
| Current assets | 29/58 | €50,113 | €66,833 | +€16,720 | +33.4% |
| Stocks and contracts in progress | 3 | €15,379 | €5,724 | -€9,656 | -62.8% |
| Stocks | 30/36 | €15,379 | €5,724 | -€9,656 | -62.8% |
| Amounts receivable within one year | 40/41 | €24,811 | €42,761 | +€17,950 | +72.3% |
| Trade receivables | 40 | €22,620 | €35,708 | +€13,088 | +57.9% |
| Other amounts receivable | 41 | €2,191 | €7,053 | +€4,862 | +222% |
| Cash at bank and in hand | 54/58 | €9,436 | €17,984 | +€8,549 | +90.6% |
| Deferred charges and accrued income | 490/1 | €487 | €364 | -€123 | -25.3% |
| Total equity and liabilities | 10/49 | €118,679 | €118,317 | -€362 | -0.3% |
| Equity | 10/15 | €14,963 | €17,766 | +€2,804 | +18.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €18,750 | €18,750 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€22,387 | -€19,584 | +€2,804 | +12.5% |
| Amounts payable | 17/49 | €103,716 | €100,550 | -€3,165 | -3.1% |
| Amounts payable after more than one year | 17 | €58,498 | €67,705 | +€9,206 | +15.7% |
| Financial debts | 170/4 | €31,653 | €18,962 | -€12,691 | -40.1% |
| Other amounts payable | 178/9 | €26,845 | €48,743 | +€21,897 | +81.6% |
| Amounts payable within one year | 42/48 | €44,423 | €32,318 | -€12,105 | -27.2% |
| Current portion of amounts payable after more than one year | 42 | €12,145 | €12,691 | +€546 | +4.5% |
| Trade debts | 44 | €7,973 | €19,589 | +€11,616 | +146% |
| Suppliers | 440/4 | €7,973 | €19,589 | +€11,616 | +146% |
| Taxes, remuneration and social security | 45 | €15,117 | €39 | -€15,078 | -99.7% |
| Taxes | 450/3 | €15,117 | €39 | -€15,078 | -99.7% |
| Other amounts payable | 47/48 | €9,189 | €0 | -€9,189 | -100% |
| Accrued charges and deferred income | 492/3 | €795 | €528 | -€267 | -33.6% |
| Non-recurring operating income | 76A | €2,263 | €0 | -€2,263 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,514 | €19,430 | +€7,915 | +68.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | -€54,714 | -€54,714 | |
| Other operating charges | 640/8 | €2,369 | €2,958 | +€589 | +24.9% |
| Non-recurring operating charges | 66A | €7,699 | €0 | -€7,699 | -100% |
| Gross operating margin | 9900 | €46,676 | -€22,726 | -€69,402 | |
| Operating profit (loss) | 9901 | €25,094 | €9,600 | -€15,494 | -61.7% |
| Financial income | 75/76B | €21 | €0 | -€21 | -100% |
| Recurring financial income | 75 | €21 | €0 | -€21 | -100% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €6,975 | €5,401 | -€1,574 | -22.6% |
| Recurring financial charges | 65 | €6,975 | €5,401 | -€1,574 | -22.6% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €18,139 | €4,199 | -€13,941 | -76.9% |
| Income taxes | 67/77 | €2,809 | €1,395 | -€1,414 | -50.3% |
| Profit (loss) for the period | 9904 | €15,330 | €2,804 | -€12,527 | -81.7% |
| Profit (loss) for the period to be appropriated | 9905 | €15,330 | €2,804 | -€12,527 | -81.7% |
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 22 October 2026 via checked.be.