VANMECHELEN-KELLENS: 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.
VANMECHELEN-KELLENS
Largest movements
- Tangible fixed assets +€131,076
up €131,076 (+17.8%), from €734,365 to €865,440
- Cash +€55,560
up €55,560 (+253%), from €21,945 to €77,506
mainly Other debts (+€200,000) and Depreciation (+€69,736)
- Receivables within one year -€50,828
down €50,828 (-78.3%), from €64,887 to €14,059
of which Trade receivables: -€50,820
- Other debts +€200,000
up €200,000 (+136%), from €147,504 to €347,504
- Trade debts -€67,926
down €67,926 (-75.4%), from €90,119 to €22,193
- Reserves +€34,686
up €34,686 (+39.3%), from €88,317 to €123,003
of which Distributable reserves: +€34,686
- Debts after one year -€23,780
down €23,780 (-5.7%), from €417,863 to €394,084
- Tax, wage and social debts -€15,679
down €15,679 (-45.1%), from €34,737 to €19,058
- Gross operating margin +€28,799
up €28,799 (+25.6%), from €112,583 to €141,383
- Financial charges +€10,920
up €10,920 (+71.0%), from €15,384 to €26,304
- Depreciation -€8,544
down €8,544 (-10.9%), from €78,280 to €69,736
- Taxes +€7,261
up €7,261 (+144%), from €5,049 to €12,310
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 | €821,860 | €957,307 | +€135,447 | +16.5% |
| Fixed assets | 21/28 | €734,365 | €865,440 | +€131,076 | +17.8% |
| Tangible fixed assets | 22/27 | €734,365 | €865,440 | +€131,076 | +17.8% |
| Land and buildings | 22 | €734,365 | €865,440 | +€131,076 | +17.8% |
| Current assets | 29/58 | €87,496 | €91,867 | +€4,371 | +5.0% |
| Amounts receivable within one year | 40/41 | €64,887 | €14,059 | -€50,828 | -78.3% |
| Trade receivables | 40 | €59,920 | €9,100 | -€50,820 | -84.8% |
| Other amounts receivable | 41 | €4,967 | €4,959 | -€8 | -0.2% |
| Cash at bank and in hand | 54/58 | €21,945 | €77,506 | +€55,560 | +253% |
| Deferred charges and accrued income | 490/1 | €663 | €302 | -€361 | -54.5% |
| Total equity and liabilities | 10/49 | €821,860 | €957,307 | +€135,447 | +16.5% |
| Equity | 10/15 | €108,768 | €141,595 | +€32,827 | +30.2% |
| Contributions | 10/11 | €20,451 | €18,592 | -€1,859 | -9.1% |
| Reserves | 13 | €88,317 | €123,003 | +€34,686 | +39.3% |
| Tax-exempt reserves | 132 | €15,479 | €15,479 | = | 0.0% |
| Distributable reserves | 133 | €72,838 | €107,523 | +€34,686 | +47.6% |
| Amounts payable | 17/49 | €713,092 | €815,712 | +€102,621 | +14.4% |
| Amounts payable after more than one year | 17 | €417,863 | €394,084 | -€23,780 | -5.7% |
| Financial debts | 170/4 | €417,863 | €394,084 | -€23,780 | -5.7% |
| Amounts payable within one year | 42/48 | €295,228 | €412,535 | +€117,306 | +39.7% |
| Current portion of amounts payable after more than one year | 42 | €22,869 | €23,780 | +€911 | +4.0% |
| Trade debts | 44 | €90,119 | €22,193 | -€67,926 | -75.4% |
| Suppliers | 440/4 | €90,119 | €22,193 | -€67,926 | -75.4% |
| Taxes, remuneration and social security | 45 | €34,737 | €19,058 | -€15,679 | -45.1% |
| Taxes | 450/3 | €34,737 | €19,058 | -€15,679 | -45.1% |
| Other amounts payable | 47/48 | €147,504 | €347,504 | +€200,000 | +136% |
| Accrued charges and deferred income | 492/3 | - | €9,094 | +€9,094 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €78,280 | €69,736 | -€8,544 | -10.9% |
| Other operating charges | 640/8 | €720 | €206 | -€514 | -71.4% |
| Gross operating margin | 9900 | €112,583 | €141,383 | +€28,799 | +25.6% |
| Operating profit (loss) | 9901 | €33,583 | €71,440 | +€37,857 | +113% |
| Financial charges | 65/66B | €15,384 | €26,304 | +€10,920 | +71.0% |
| Recurring financial charges | 65 | €15,384 | €26,304 | +€10,920 | +71.0% |
| Profit (loss) for the period before taxes | 9903 | €18,199 | €45,137 | +€26,937 | +148% |
| Income taxes | 67/77 | €5,049 | €12,310 | +€7,261 | +144% |
| Profit (loss) for the period | 9904 | €13,151 | €32,827 | +€19,676 | +150% |
| Profit (loss) for the period to be appropriated | 9905 | €13,151 | €32,827 | +€19,676 | +150% |
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 13 October 2026 via checked.be.