VANEECKHOUTTE KURT: 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 KURT
Largest movements
- Current investments -€200,804
down €200,804 (-100%), from €200,804 to €0
- Cash +€81,565
up €81,565 (+1,107%), from €7,366 to €88,932
mainly Current investments (+€200,804) and Net result for the year (+€85,065)
- Tangible fixed assets +€75,892
up €75,892 (+10.2%), from €745,976 to €821,868
of which Land and buildings: +€102,635
- Receivables within one year +€16,384
up €16,384 (+20.5%), from €79,942 to €96,325
of which Trade receivables: +€23,861
- Reserves +€59,935
up €59,935 (+8.2%), from €730,909 to €790,844
of which Distributable reserves: +€68,979
- Trade debts -€52,316
down €52,316 (-98.5%), from €53,092 to €776
- Tax, wage and social debts -€23,072
down €23,072 (-57.5%), from €40,114 to €17,042
of which Taxes: -€28,760
- Other debts -€10,769
down €10,769 (-7.3%), from €146,770 to €136,002
- Gross operating margin +€87,570
up €87,570 (+76.2%), from €114,932 to €202,503
- Taxes +€27,773
up €27,773 (+283%), from €9,805 to €37,578
- Depreciation +€9,892
up €9,892 (+13.2%), from €74,949 to €84,841
- Financial income +€5,510
up €5,510 (+83.5%), from €6,599 to €12,109
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 | €1,049,369 | €1,018,008 | -€31,362 | -3.0% |
| Fixed assets | 21/28 | €747,026 | €822,918 | +€75,892 | +10.2% |
| Tangible fixed assets | 22/27 | €745,976 | €821,868 | +€75,892 | +10.2% |
| Land and buildings | 22 | €694,131 | €796,766 | +€102,635 | +14.8% |
| Plant, machinery and equipment | 23 | €12,602 | €13,571 | +€970 | +7.7% |
| Furniture and vehicles | 24 | €39,244 | €11,531 | -€27,713 | -70.6% |
| Financial fixed assets | 28 | €1,050 | €1,050 | = | 0.0% |
| Current assets | 29/58 | €302,343 | €195,090 | -€107,254 | -35.5% |
| Stocks and contracts in progress | 3 | €8,500 | €5,360 | -€3,140 | -36.9% |
| Stocks | 30/36 | €8,500 | €5,360 | -€3,140 | -36.9% |
| Amounts receivable within one year | 40/41 | €79,942 | €96,325 | +€16,384 | +20.5% |
| Trade receivables | 40 | €55,799 | €79,659 | +€23,861 | +42.8% |
| Other amounts receivable | 41 | €24,143 | €16,666 | -€7,477 | -31.0% |
| Current investments | 50/53 | €200,804 | €0 | -€200,804 | -100% |
| Cash at bank and in hand | 54/58 | €7,366 | €88,932 | +€81,565 | +1,107% |
| Deferred charges and accrued income | 490/1 | €5,731 | €4,472 | -€1,259 | -22.0% |
| Total equity and liabilities | 10/49 | €1,049,369 | €1,018,008 | -€31,362 | -3.0% |
| Equity | 10/15 | €755,934 | €815,844 | +€59,911 | +7.9% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €730,909 | €790,844 | +€59,935 | +8.2% |
| Non-distributable reserves | 130/1 | €2,500 | €2,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,500 | €2,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €170,286 | €161,242 | -€9,044 | -5.3% |
| Distributable reserves | 133 | €558,123 | €627,102 | +€68,979 | +12.4% |
| Profit (loss) carried forward | 14 | €25 | €0 | -€25 | -100% |
| Provisions and deferred taxes | 16 | €45,645 | €42,631 | -€3,015 | -6.6% |
| Deferred taxes | 168 | €45,645 | €42,631 | -€3,015 | -6.6% |
| Amounts payable | 17/49 | €247,790 | €159,532 | -€88,258 | -35.6% |
| Amounts payable within one year | 42/48 | €239,976 | €153,820 | -€86,156 | -35.9% |
| Trade debts | 44 | €53,092 | €776 | -€52,316 | -98.5% |
| Suppliers | 440/4 | €53,092 | €776 | -€52,316 | -98.5% |
| Taxes, remuneration and social security | 45 | €40,114 | €17,042 | -€23,072 | -57.5% |
| Taxes | 450/3 | €40,114 | €11,354 | -€28,760 | -71.7% |
| Remuneration and social security | 454/9 | - | €5,689 | +€5,689 | |
| Other amounts payable | 47/48 | €146,770 | €136,002 | -€10,769 | -7.3% |
| Accrued charges and deferred income | 492/3 | €7,815 | €5,713 | -€2,102 | -26.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €74,949 | €84,841 | +€9,892 | +13.2% |
| Other operating charges | 640/8 | €2,899 | €2,645 | -€254 | -8.8% |
| Gross operating margin | 9900 | €114,932 | €202,503 | +€87,570 | +76.2% |
| Operating profit (loss) | 9901 | €37,084 | €115,017 | +€77,933 | +210% |
| Financial income | 75/76B | €6,599 | €12,109 | +€5,510 | +83.5% |
| Recurring financial income | 75 | €6,599 | €12,109 | +€5,510 | +83.5% |
| Financial charges | 65/66B | €7,949 | €7,498 | -€451 | -5.7% |
| Recurring financial charges | 65 | €7,949 | €7,498 | -€451 | -5.7% |
| Profit (loss) for the period before taxes | 9903 | €35,734 | €119,628 | +€83,894 | +235% |
| Transfer from deferred taxes | 780 | €2,827 | €3,015 | +€188 | +6.7% |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | €9,805 | €37,578 | +€27,773 | +283% |
| Profit (loss) for the period | 9904 | €28,756 | €85,065 | +€56,309 | +196% |
| Transfer from tax-exempt reserves | 789 | €8,480 | €9,044 | +€564 | +6.7% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €37,236 | €94,109 | +€56,873 | +153% |
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 27 October 2026 via checked.be.