VANGRONSVELD PETER: 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.
VANGRONSVELD PETER
Largest movements
- Cash +€58,581
up €58,581 (+65.5%), from €89,453 to €148,034
mainly Depreciation (+€35,268) and Net result for the year (+€34,458)
- Tangible fixed assets -€35,268
down €35,268 (-6.2%), from €564,716 to €529,448
- Reserves +€34,458
up €34,458 (+13.0%), from €264,873 to €299,331
of which Distributable reserves: +€34,458
- Debts after one year -€14,149
down €14,149 (-5.9%), from €239,355 to €225,206
- Gross operating margin -€7,295
down €7,295 (-7.6%), from €95,694 to €88,399
- Taxes -€2,219
down €2,219 (-14.1%), from €15,699 to €13,480
- Depreciation +€1,755
up €1,755 (+5.2%), from €33,513 to €35,268
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 | €666,852 | €684,859 | +€18,007 | +2.7% |
| Fixed assets | 21/28 | €564,716 | €529,448 | -€35,268 | -6.2% |
| Tangible fixed assets | 22/27 | €564,716 | €529,448 | -€35,268 | -6.2% |
| Land and buildings | 22 | €481,632 | €468,480 | -€13,152 | -2.7% |
| Plant, machinery and equipment | 23 | €15,986 | €9,368 | -€6,618 | -41.4% |
| Furniture and vehicles | 24 | €38,256 | €26,234 | -€12,022 | -31.4% |
| Other tangible fixed assets | 26 | €28,842 | €25,366 | -€3,476 | -12.1% |
| Current assets | 29/58 | €102,136 | €155,411 | +€53,275 | +52.2% |
| Amounts receivable within one year | 40/41 | €12,270 | €7,004 | -€5,266 | -42.9% |
| Trade receivables | 40 | €12,270 | €7,004 | -€5,266 | -42.9% |
| Cash at bank and in hand | 54/58 | €89,453 | €148,034 | +€58,581 | +65.5% |
| Deferred charges and accrued income | 490/1 | €413 | €373 | -€40 | -9.7% |
| Total equity and liabilities | 10/49 | €666,852 | €684,859 | +€18,007 | +2.7% |
| Equity | 10/15 | €271,073 | €305,531 | +€34,458 | +12.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €264,873 | €299,331 | +€34,458 | +13.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Other | 1319 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €263,013 | €297,471 | +€34,458 | +13.1% |
| Amounts payable | 17/49 | €395,779 | €379,328 | -€16,451 | -4.2% |
| Amounts payable after more than one year | 17 | €239,355 | €225,206 | -€14,149 | -5.9% |
| Financial debts | 170/4 | €239,355 | €225,206 | -€14,149 | -5.9% |
| Amounts payable within one year | 42/48 | €156,424 | €154,122 | -€2,302 | -1.5% |
| Current portion of amounts payable after more than one year | 42 | €13,992 | €14,149 | +€157 | +1.1% |
| Trade debts | 44 | €729 | €297 | -€432 | -59.3% |
| Suppliers | 440/4 | €729 | €297 | -€432 | -59.3% |
| Taxes, remuneration and social security | 45 | €8,353 | €4,042 | -€4,311 | -51.6% |
| Taxes | 450/3 | €8,353 | €4,042 | -€4,311 | -51.6% |
| Other amounts payable | 47/48 | €133,350 | €135,634 | +€2,284 | +1.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,513 | €35,268 | +€1,755 | +5.2% |
| Other operating charges | 640/8 | €2,652 | €2,848 | +€196 | +7.4% |
| Gross operating margin | 9900 | €95,694 | €88,399 | -€7,295 | -7.6% |
| Operating profit (loss) | 9901 | €59,529 | €50,283 | -€9,246 | -15.5% |
| Financial income | 75/76B | €212 | €522 | +€310 | +146% |
| Recurring financial income | 75 | €212 | €522 | +€310 | +146% |
| Financial charges | 65/66B | €2,996 | €2,867 | -€129 | -4.3% |
| Recurring financial charges | 65 | €2,996 | €2,867 | -€129 | -4.3% |
| Profit (loss) for the period before taxes | 9903 | €56,745 | €47,938 | -€8,807 | -15.5% |
| Income taxes | 67/77 | €15,699 | €13,480 | -€2,219 | -14.1% |
| Profit (loss) for the period | 9904 | €41,046 | €34,458 | -€6,588 | -16.1% |
| Profit (loss) for the period to be appropriated | 9905 | €41,046 | €34,458 | -€6,588 | -16.1% |
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 14 October 2026 via checked.be.