Vangoitsenhoven: 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.
Vangoitsenhoven
Largest movements
- Receivables within one year +€231,173
up €231,173 (+22.4%), from €1.0m to €1.3m
of which Trade receivables: +€178,768
- Cash -€110,096
down €110,096 (-51.1%), from €215,381 to €105,285
mainly Investment in fixed assets (net) (-€440,897) and Receivables within one year (-€231,173)
- Tangible fixed assets +€93,086
up €93,086 (+7.5%), from €1.2m to €1.3m
of which Leasing and similar rights: +€86,469
- Short-term financial debts +€150,000
new in 2025: €150,000
- Other debts -€137,611
down €137,611 (-99.5%), from €138,253 to €642
- Profit (loss) carried forward +€80,619
up €80,619 (+62.6%), from €128,773 to €209,393
- Debts after one year +€68,448
up €68,448 (+9.8%), from €696,622 to €765,070
- Current portion of long-term debt +€56,673
up €56,673 (+22.5%), from €251,871 to €308,545
- Depreciation +€107,753
up €107,753 (+45.1%), from €238,918 to €346,671
- Gross operating margin +€73,049
up €73,049 (+5.7%), from €1.3m to €1.3m
- Staff costs -€24,881
down €24,881 (-2.9%), from €855,972 to €831,091
- Financial charges +€16,993
up €16,993 (+64.3%), from €26,429 to €43,422
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 | €2,581,625 | €2,809,269 | +€227,644 | +8.8% |
| Fixed assets | 21/28 | €1,256,223 | €1,350,449 | +€94,226 | +7.5% |
| Tangible fixed assets | 22/27 | €1,249,383 | €1,342,469 | +€93,086 | +7.5% |
| Land and buildings | 22 | €270,349 | €289,894 | +€19,545 | +7.2% |
| Plant, machinery and equipment | 23 | €10,568 | €8,865 | -€1,703 | -16.1% |
| Furniture and vehicles | 24 | €41,708 | €30,482 | -€11,225 | -26.9% |
| Leasing and similar rights | 25 | €926,758 | €1,013,228 | +€86,469 | +9.3% |
| Financial fixed assets | 28 | €6,840 | €7,980 | +€1,140 | +16.7% |
| Current assets | 29/58 | €1,325,402 | €1,458,820 | +€133,418 | +10.1% |
| Stocks and contracts in progress | 3 | €52,847 | €45,209 | -€7,638 | -14.5% |
| Stocks | 30/36 | €52,847 | €45,209 | -€7,638 | -14.5% |
| Amounts receivable within one year | 40/41 | €1,032,293 | €1,263,466 | +€231,173 | +22.4% |
| Trade receivables | 40 | €303,608 | €482,376 | +€178,768 | +58.9% |
| Other amounts receivable | 41 | €728,685 | €781,090 | +€52,405 | +7.2% |
| Cash at bank and in hand | 54/58 | €215,381 | €105,285 | -€110,096 | -51.1% |
| Deferred charges and accrued income | 490/1 | €24,881 | €44,860 | +€19,979 | +80.3% |
| Total equity and liabilities | 10/49 | €2,581,625 | €2,809,269 | +€227,644 | +8.8% |
| Equity | 10/15 | €1,195,704 | €1,276,324 | +€80,619 | +6.7% |
| Contributions | 10/11 | €94,200 | €94,200 | = | 0.0% |
| Reserves | 13 | €972,731 | €972,731 | = | 0.0% |
| Non-distributable reserves | 130/1 | €709,916 | €709,916 | = | 0.0% |
| Reserves not available under the articles | 1311 | €9,916 | €9,916 | = | 0.0% |
| Other | 1319 | €700,000 | €700,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €240,547 | €240,547 | = | 0.0% |
| Distributable reserves | 133 | €22,269 | €22,269 | = | 0.0% |
| Profit (loss) carried forward | 14 | €128,773 | €209,393 | +€80,619 | +62.6% |
| Amounts payable | 17/49 | €1,385,921 | €1,532,945 | +€147,024 | +10.6% |
| Amounts payable after more than one year | 17 | €696,622 | €765,070 | +€68,448 | +9.8% |
| Financial debts | 170/4 | €696,622 | €765,070 | +€68,448 | +9.8% |
| Amounts payable within one year | 42/48 | €689,299 | €767,875 | +€78,577 | +11.4% |
| Current portion of amounts payable after more than one year | 42 | €251,871 | €308,545 | +€56,673 | +22.5% |
| Financial debts | 43 | - | €150,000 | +€150,000 | |
| Credit institutions | 430/8 | - | €150,000 | +€150,000 | |
| Trade debts | 44 | €195,590 | €193,824 | -€1,766 | -0.9% |
| Suppliers | 440/4 | €195,590 | €193,824 | -€1,766 | -0.9% |
| Taxes, remuneration and social security | 45 | €103,584 | €114,865 | +€11,281 | +10.9% |
| Taxes | 450/3 | €28,864 | €25,923 | -€2,940 | -10.2% |
| Remuneration and social security | 454/9 | €74,720 | €88,941 | +€14,221 | +19.0% |
| Other amounts payable | 47/48 | €138,253 | €642 | -€137,611 | -99.5% |
| Non-recurring operating income | 76A | €25,900 | €10,500 | -€15,400 | -59.5% |
| Remuneration, social security and pensions | 62 | €855,972 | €831,091 | -€24,881 | -2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €238,918 | €346,671 | +€107,753 | +45.1% |
| Other operating charges | 640/8 | €34,368 | €24,799 | -€9,569 | -27.8% |
| Gross operating margin | 9900 | €1,276,163 | €1,349,212 | +€73,049 | +5.7% |
| Operating profit (loss) | 9901 | €146,905 | €146,650 | -€254 | -0.2% |
| Financial income | 75/76B | €159 | €423 | +€264 | +166% |
| Recurring financial income | 75 | €159 | €423 | +€264 | +166% |
| Financial charges | 65/66B | €26,429 | €43,422 | +€16,993 | +64.3% |
| Recurring financial charges | 65 | €26,429 | €43,422 | +€16,993 | +64.3% |
| Profit (loss) for the period before taxes | 9903 | €120,635 | €103,651 | -€16,984 | -14.1% |
| Income taxes | 67/77 | €26,402 | €23,032 | -€3,371 | -12.8% |
| Profit (loss) for the period | 9904 | €94,233 | €80,619 | -€13,613 | -14.4% |
| Profit (loss) for the period to be appropriated | 9905 | €94,233 | €80,619 | -€13,613 | -14.4% |
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.