VANRAES ALBERT: 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.
VANRAES ALBERT
Largest movements
- Tangible fixed assets +€30,015
up €30,015 (+1,966%), from €1,527 to €31,542
of which Land and buildings: +€28,023
- Stocks and contracts +€11,092
up €11,092 (+24.5%), from €45,303 to €56,395
- Receivables within one year +€2,623
up €2,623 (+22.4%), from €11,702 to €14,325
of which Trade receivables: +€2,297
- Debts after one year +€112,922
new in 2025: €112,922
- Profit (loss) carried forward -€44,276
down €44,276 (-71.1%), from -€62,232 to -€106,508
- Other debts -€30,688
no longer reported in 2025 (was €30,688)
- Trade debts +€8,417
up €8,417 (+600%), from €1,403 to €9,821
- Advances received -€1,500
no longer reported in 2025 (was €1,500)
- Gross operating margin -€9,565
down €9,565 (-32.3%), from -€29,604 to -€39,168
- Depreciation +€2,871
up €2,871 (+1,406%), from €204 to €3,075
- Financial charges -€475
down €475 (-41.4%), from €1,149 to €673
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 | €60,501 | €105,563 | +€45,062 | +74.5% |
| Fixed assets | 21/28 | €1,527 | €32,576 | +€31,049 | +2,033% |
| Intangible fixed assets | 21 | - | €1,034 | +€1,034 | |
| Tangible fixed assets | 22/27 | €1,527 | €31,542 | +€30,015 | +1,966% |
| Land and buildings | 22 | - | €28,023 | +€28,023 | |
| Furniture and vehicles | 24 | €1,527 | €3,519 | +€1,992 | +130% |
| Current assets | 29/58 | €58,974 | €72,987 | +€14,013 | +23.8% |
| Stocks and contracts in progress | 3 | €45,303 | €56,395 | +€11,092 | +24.5% |
| Stocks | 30/36 | €45,303 | €56,395 | +€11,092 | +24.5% |
| Amounts receivable within one year | 40/41 | €11,702 | €14,325 | +€2,623 | +22.4% |
| Trade receivables | 40 | €595 | €2,892 | +€2,297 | +386% |
| Other amounts receivable | 41 | €11,107 | €11,433 | +€326 | +2.9% |
| Cash at bank and in hand | 54/58 | €1,969 | €2,267 | +€298 | +15.1% |
| Total equity and liabilities | 10/49 | €60,501 | €105,563 | +€45,062 | +74.5% |
| Equity | 10/15 | €21,730 | -€22,546 | -€44,276 | |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Capital | 10 | €75,000 | €75,000 | = | 0.0% |
| Issued capital | 100 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €8,962 | €8,962 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,805 | €6,805 | = | 0.0% |
| Legal reserve | 130 | €6,805 | €6,805 | = | 0.0% |
| Tax-exempt reserves | 132 | €317 | €317 | = | 0.0% |
| Distributable reserves | 133 | €1,840 | €1,840 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€62,232 | -€106,508 | -€44,276 | -71.1% |
| Amounts payable | 17/49 | €38,771 | €128,109 | +€89,337 | +230% |
| Amounts payable after more than one year | 17 | - | €112,922 | +€112,922 | |
| Financial debts | 170/4 | - | €112,922 | +€112,922 | |
| Amounts payable within one year | 42/48 | €36,771 | €13,187 | -€23,584 | -64.1% |
| Trade debts | 44 | €1,403 | €9,821 | +€8,417 | +600% |
| Suppliers | 440/4 | €1,403 | €9,821 | +€8,417 | +600% |
| Advances received on contracts in progress | 46 | €1,500 | - | -€1,500 | |
| Taxes, remuneration and social security | 45 | €3,180 | €3,366 | +€186 | +5.9% |
| Taxes | 450/3 | €3,180 | €3,366 | +€186 | +5.9% |
| Other amounts payable | 47/48 | €30,688 | - | -€30,688 | |
| Accrued charges and deferred income | 492/3 | €2,000 | €2,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €204 | €3,075 | +€2,871 | +1,406% |
| Other operating charges | 640/8 | €528 | €594 | +€66 | +12.5% |
| Non-recurring operating charges | 66A | - | €854 | +€854 | |
| Gross operating margin | 9900 | -€29,604 | -€39,168 | -€9,565 | -32.3% |
| Operating profit (loss) | 9901 | -€30,336 | -€43,691 | -€13,356 | -44.0% |
| Financial income | 75/76B | €44 | €89 | +€46 | +104% |
| Recurring financial income | 75 | €44 | €89 | +€46 | +104% |
| Financial charges | 65/66B | €1,149 | €673 | -€475 | -41.4% |
| Recurring financial charges | 65 | €1,149 | €673 | -€475 | -41.4% |
| Profit (loss) for the period before taxes | 9903 | -€31,441 | -€44,276 | -€12,835 | -40.8% |
| Profit (loss) for the period | 9904 | -€31,441 | -€44,276 | -€12,835 | -40.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€31,441 | -€44,276 | -€12,835 | -40.8% |
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 16 October 2026 via checked.be.