VANOVERBEKE: what changed
Two fiscal 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.
VANOVERBEKE
Largest movements
- Cash +€251,668
up €251,668 (+86.6%), from €290,481 to €542,149
mainly Net result for the year (+€169,329) and Stocks and contracts (+€61,399)
- Stocks and contracts -€61,399
down €61,399 (-11.2%), from €549,755 to €488,356
- Receivables within one year -€23,255
down €23,255 (-25.6%), from €91,008 to €67,753
of which Other amounts receivable: -€38,107
- Reserves +€169,329
up €169,329 (+25.7%), from €660,011 to €829,340
of which Distributable reserves: +€169,329
- Trade debts +€24,949
up €24,949 (+317.6%), from €7,856 to €32,805
- Accrued charges and deferred income +€16,628
new in 2025: €16,628
- Debts after one year -€12,745
down €12,745 (-5.5%), from €232,800 to €220,055
- Advances received -€12,490
down €12,490 (-34.2%), from €36,490 to €24,000
- Gross operating margin -€44,474
down €44,474 (-14.0%), from €317,813 to €273,339
- Taxes -€15,464
down €15,464 (-17.6%), from €87,913 to €72,449
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.
Cash bridge derived
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 | €979,939 | €1,155,535 | +€175,597 | +17.9% |
| Fixed assets | 21/28 | €43,659 | €54,889 | +€11,230 | +25.7% |
| Tangible fixed assets | 22/27 | €43,524 | €54,754 | +€11,230 | +25.8% |
| Plant, machinery and equipment | 23 | €17,825 | €27,907 | +€10,082 | +56.6% |
| Furniture and vehicles | 24 | €25,699 | €26,847 | +€1,148 | +4.5% |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €936,280 | €1,100,647 | +€164,367 | +17.6% |
| Stocks and contracts in progress | 3 | €549,755 | €488,356 | -€61,399 | -11.2% |
| Stocks | 30/36 | €549,755 | €488,356 | -€61,399 | -11.2% |
| Amounts receivable within one year | 40/41 | €91,008 | €67,753 | -€23,255 | -25.6% |
| Trade receivables | 40 | €32,059 | €46,910 | +€14,851 | +46.3% |
| Other amounts receivable | 41 | €58,949 | €20,842 | -€38,107 | -64.6% |
| Cash at bank and in hand | 54/58 | €290,481 | €542,149 | +€251,668 | +86.6% |
| Deferred charges and accrued income | 490/1 | €5,036 | €2,390 | -€2,646 | -52.6% |
| Total equity and liabilities | 10/49 | €979,939 | €1,155,535 | +€175,597 | +17.9% |
| Equity | 10/15 | €680,011 | €849,340 | +€169,329 | +24.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €660,011 | €829,340 | +€169,329 | +25.7% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €660,011 | €829,340 | +€169,329 | +25.7% |
| Amounts payable | 17/49 | €299,928 | €306,195 | +€6,268 | +2.1% |
| Amounts payable after more than one year | 17 | €232,800 | €220,055 | -€12,745 | -5.5% |
| Other amounts payable | 178/9 | €232,800 | €220,055 | -€12,745 | -5.5% |
| Amounts payable within one year | 42/48 | €67,128 | €69,512 | +€2,385 | +3.6% |
| Trade debts | 44 | €7,856 | €32,805 | +€24,949 | +317.6% |
| Suppliers | 440/4 | €7,856 | €32,805 | +€24,949 | +317.6% |
| Advances received on contracts in progress | 46 | €36,490 | €24,000 | -€12,490 | -34.2% |
| Taxes, remuneration and social security | 45 | €16,279 | €4,546 | -€11,733 | -72.1% |
| Taxes | 450/3 | €11,617 | €1,547 | -€10,070 | -86.7% |
| Remuneration and social security | 454/9 | €4,662 | €2,999 | -€1,663 | -35.7% |
| Other amounts payable | 47/48 | €6,502 | €8,161 | +€1,658 | +25.5% |
| Accrued charges and deferred income | 492/3 | - | €16,628 | +€16,628 | |
| Non-recurring operating income | 76A | €7,530 | €2,139 | -€5,391 | -71.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,203 | €11,132 | +€2,929 | +35.7% |
| Other operating charges | 640/8 | €3,423 | €3,489 | +€66 | +1.9% |
| Gross operating margin | 9900 | €317,813 | €273,339 | -€44,474 | -14.0% |
| Operating profit (loss) | 9901 | €306,187 | €258,718 | -€47,469 | -15.5% |
| Financial income | 75/76B | €1 | €2 | +€1 | +242.4% |
| Recurring financial income | 75 | €1 | €2 | +€1 | +242.4% |
| Financial charges | 65/66B | €14,510 | €16,942 | +€2,431 | +16.8% |
| Recurring financial charges | 65 | €14,510 | €16,942 | +€2,431 | +16.8% |
| Profit (loss) for the period before taxes | 9903 | €291,677 | €241,778 | -€49,900 | -17.1% |
| Income taxes | 67/77 | €87,913 | €72,449 | -€15,464 | -17.6% |
| Profit (loss) for the period | 9904 | €203,764 | €169,329 | -€34,435 | -16.9% |
| Profit (loss) for the period to be appropriated | 9905 | €203,764 | €169,329 | -€34,435 | -16.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.