VANGENEUGDEN PROJECTS: 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.
VANGENEUGDEN PROJECTS
Largest movements
- Tangible fixed assets -€19,690
down €19,690 (-23.4%), from €84,237 to €64,547
of which Leasing and similar rights: -€19,707
- Stocks and contracts +€16,000
up €16,000 (+160%), from €10,000 to €26,000
- Cash +€13,334
up €13,334 (+150%), from €8,864 to €22,198
mainly Depreciation (+€23,428) and Trade debts (+€8,649)
- Receivables within one year -€8,632
down €8,632 (-13.3%), from €64,659 to €56,027
of which Trade receivables: -€17,862
- Debts after one year -€13,333
down €13,333 (-30.8%), from €43,306 to €29,974
- Trade debts +€8,649
up €8,649 (+118%), from €7,357 to €16,006
- Other debts +€2,034
up €2,034 (+36.8%), from €5,528 to €7,562
- Tax, wage and social debts +€1,829
up €1,829 (+23.2%), from €7,884 to €9,713
of which Remuneration and social security: +€1,342
- Gross operating margin -€33,253
down €33,253 (-31.4%), from €105,779 to €72,526
- Taxes -€8,447
down €8,447 (-82.8%), from €10,199 to €1,752
- Staff costs -€2,310
down €2,310 (-5.2%), from €44,607 to €42,297
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 | €173,480 | €174,230 | +€750 | +0.4% |
| Fixed assets | 21/28 | €88,437 | €68,747 | -€19,690 | -22.3% |
| Tangible fixed assets | 22/27 | €84,237 | €64,547 | -€19,690 | -23.4% |
| Plant, machinery and equipment | 23 | €6,188 | €6,426 | +€238 | +3.8% |
| Furniture and vehicles | 24 | €1,437 | €1,215 | -€222 | -15.4% |
| Leasing and similar rights | 25 | €76,613 | €56,906 | -€19,707 | -25.7% |
| Financial fixed assets | 28 | €4,200 | €4,200 | = | 0.0% |
| Current assets | 29/58 | €85,043 | €105,483 | +€20,440 | +24.0% |
| Stocks and contracts in progress | 3 | €10,000 | €26,000 | +€16,000 | +160% |
| Contracts in progress | 37 | €10,000 | €26,000 | +€16,000 | +160% |
| Amounts receivable within one year | 40/41 | €64,659 | €56,027 | -€8,632 | -13.3% |
| Trade receivables | 40 | €50,470 | €32,608 | -€17,862 | -35.4% |
| Other amounts receivable | 41 | €14,189 | €23,419 | +€9,230 | +65.0% |
| Cash at bank and in hand | 54/58 | €8,864 | €22,198 | +€13,334 | +150% |
| Deferred charges and accrued income | 490/1 | €1,520 | €1,258 | -€262 | -17.2% |
| Total equity and liabilities | 10/49 | €173,480 | €174,230 | +€750 | +0.4% |
| Equity | 10/15 | €96,650 | €97,642 | +€992 | +1.0% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Reserves | 13 | €89,150 | €90,142 | +€992 | +1.1% |
| Distributable reserves | 133 | €89,150 | €90,142 | +€992 | +1.1% |
| Amounts payable | 17/49 | €76,830 | €76,588 | -€242 | -0.3% |
| Amounts payable after more than one year | 17 | €43,306 | €29,974 | -€13,333 | -30.8% |
| Financial debts | 170/4 | €43,306 | €29,974 | -€13,333 | -30.8% |
| Amounts payable within one year | 42/48 | €33,524 | €46,614 | +€13,090 | +39.0% |
| Current portion of amounts payable after more than one year | 42 | €12,755 | €13,333 | +€578 | +4.5% |
| Trade debts | 44 | €7,357 | €16,006 | +€8,649 | +118% |
| Suppliers | 440/4 | €7,357 | €16,006 | +€8,649 | +118% |
| Taxes, remuneration and social security | 45 | €7,884 | €9,713 | +€1,829 | +23.2% |
| Taxes | 450/3 | €2,631 | €3,119 | +€488 | +18.5% |
| Remuneration and social security | 454/9 | €5,252 | €6,594 | +€1,342 | +25.5% |
| Other amounts payable | 47/48 | €5,528 | €7,562 | +€2,034 | +36.8% |
| Remuneration, social security and pensions | 62 | €44,607 | €42,297 | -€2,310 | -5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,483 | €23,428 | +€945 | +4.2% |
| Other operating charges | 640/8 | €1,682 | €1,409 | -€273 | -16.2% |
| Gross operating margin | 9900 | €105,779 | €72,526 | -€33,253 | -31.4% |
| Operating profit (loss) | 9901 | €37,008 | €5,392 | -€31,615 | -85.4% |
| Financial income | 75/76B | - | €96 | +€96 | |
| Recurring financial income | 75 | - | €96 | +€96 | |
| Financial charges | 65/66B | €3,669 | €2,744 | -€924 | -25.2% |
| Recurring financial charges | 65 | €3,669 | €2,744 | -€924 | -25.2% |
| Profit (loss) for the period before taxes | 9903 | €33,339 | €2,744 | -€30,595 | -91.8% |
| Income taxes | 67/77 | €10,199 | €1,752 | -€8,447 | -82.8% |
| Profit (loss) for the period | 9904 | €23,140 | €992 | -€22,147 | -95.7% |
| Profit (loss) for the period to be appropriated | 9905 | €23,140 | €992 | -€22,147 | -95.7% |
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 19 October 2026 via checked.be.