VANNETELBOSCH GUY: 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.
VANNETELBOSCH GUY
Largest movements
- Cash +€26,920
up €26,920 (+14.5%), from €185,795 to €212,715
mainly Net result for the year (+€26,906) and Depreciation (+€15,941)
- Tangible fixed assets -€14,299
down €14,299 (-32.2%), from €44,366 to €30,067
of which Furniture and vehicles: -€14,221
- Reserves +€26,906
up €26,906 (+24.8%), from €108,695 to €135,601
- Current portion of long-term debt -€7,689
down €7,689 (-74.2%), from €10,357 to €2,667
- Trade debts -€4,255
down €4,255 (-33.3%), from €12,786 to €8,531
- Gross operating margin -€13,940
down €13,940 (-17.9%), from €77,724 to €63,784
- Taxes -€5,026
down €5,026 (-32.6%), from €15,425 to €10,399
- Other operating charges +€3,424
up €3,424 (+53.7%), from €6,381 to €9,805
- Depreciation +€2,791
up €2,791 (+21.2%), from €13,150 to €15,941
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 | €269,021 | €279,517 | +€10,496 | +3.9% |
| Fixed assets | 21/28 | €44,492 | €30,193 | -€14,299 | -32.1% |
| Tangible fixed assets | 22/27 | €44,366 | €30,067 | -€14,299 | -32.2% |
| Plant, machinery and equipment | 23 | €78 | - | -€78 | |
| Furniture and vehicles | 24 | €44,288 | €30,067 | -€14,221 | -32.1% |
| Financial fixed assets | 28 | €126 | €126 | = | 0.0% |
| Current assets | 29/58 | €224,529 | €249,324 | +€24,796 | +11.0% |
| Amounts receivable within one year | 40/41 | €38,544 | €36,409 | -€2,135 | -5.5% |
| Trade receivables | 40 | €38,544 | €35,808 | -€2,736 | -7.1% |
| Other amounts receivable | 41 | - | €601 | +€601 | |
| Cash at bank and in hand | 54/58 | €185,795 | €212,715 | +€26,920 | +14.5% |
| Deferred charges and accrued income | 490/1 | €190 | €200 | +€10 | +5.3% |
| Total equity and liabilities | 10/49 | €269,021 | €279,517 | +€10,496 | +3.9% |
| Equity | 10/15 | €225,426 | €252,332 | +€26,906 | +11.9% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €108,695 | €135,601 | +€26,906 | +24.8% |
| Distributable reserves | 133 | €108,695 | €135,601 | +€26,906 | +24.8% |
| Profit (loss) carried forward | 14 | €86,731 | €86,731 | = | 0.0% |
| Amounts payable | 17/49 | €43,595 | €27,186 | -€16,410 | -37.6% |
| Amounts payable after more than one year | 17 | €2,667 | - | -€2,667 | |
| Financial debts | 170/4 | €2,667 | - | -€2,667 | |
| Amounts payable within one year | 42/48 | €40,928 | €27,179 | -€13,749 | -33.6% |
| Current portion of amounts payable after more than one year | 42 | €10,357 | €2,667 | -€7,689 | -74.2% |
| Trade debts | 44 | €12,786 | €8,531 | -€4,255 | -33.3% |
| Suppliers | 440/4 | €12,786 | €8,531 | -€4,255 | -33.3% |
| Taxes, remuneration and social security | 45 | €3,012 | €1,207 | -€1,805 | -59.9% |
| Taxes | 450/3 | €3,012 | €1,207 | -€1,805 | -59.9% |
| Other amounts payable | 47/48 | €14,774 | €14,774 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €7 | +€7 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,150 | €15,941 | +€2,791 | +21.2% |
| Other operating charges | 640/8 | €6,381 | €9,805 | +€3,424 | +53.7% |
| Non-recurring operating charges | 66A | €1,174 | - | -€1,174 | |
| Gross operating margin | 9900 | €77,724 | €63,784 | -€13,940 | -17.9% |
| Operating profit (loss) | 9901 | €57,020 | €38,038 | -€18,981 | -33.3% |
| Financial income | 75/76B | €0 | €35 | +€35 | +117,367% |
| Recurring financial income | 75 | €0 | €35 | +€35 | +117,367% |
| Financial charges | 65/66B | €1,248 | €769 | -€479 | -38.4% |
| Recurring financial charges | 65 | €1,248 | €769 | -€479 | -38.4% |
| Profit (loss) for the period before taxes | 9903 | €55,772 | €37,305 | -€18,467 | -33.1% |
| Income taxes | 67/77 | €15,425 | €10,399 | -€5,026 | -32.6% |
| Profit (loss) for the period | 9904 | €40,347 | €26,906 | -€13,441 | -33.3% |
| Profit (loss) for the period to be appropriated | 9905 | €40,347 | €26,906 | -€13,441 | -33.3% |
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.