Vanryckeghem: 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.
Vanryckeghem
Largest movements
- Financial fixed assets +€1.3m
up €1.3m (+246579.4%), from €535 to €1.3m
- Receivables within one year +€33,850
up €33,850 (+63.9%), from €52,949 to €86,798
of which Trade receivables: +€39,133
- Cash -€19,307
down €19,307 (-71.8%), from €26,887 to €7,580
mainly Investment in fixed assets (net) (-€1.3m) and Net result for the year (-€54,222)
- Debts after one year +€1.2m
new in 2025: €1.2m
- Short-term financial debts +€100,000
new in 2025: €100,000
- Profit (loss) carried forward -€54,222
down €54,222 (-76.8%), from €70,581 to €16,360
- Current portion of long-term debt +€43,684
new in 2025: €43,684
- Other debts +€31,270
up €31,270 (+120.7%), from €25,912 to €57,182
- Staff costs +€34,592
up €34,592 (+517.9%), from €6,679 to €41,271
- Gross operating margin -€29,852
down €29,852 (-54.9%), from €54,357 to €24,505
- Depreciation +€17,551
up €17,551 (+142.4%), from €12,325 to €29,876
- Financial charges +€12,935
up €12,935 (+565.3%), from €2,288 to €15,223
- Financial income +€12,160
up €12,160 (+2210.1%), from €550 to €12,710
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 | €198,602 | €1,544,616 | +€1.3m | +677.7% |
| Fixed assets | 21/28 | €101,476 | €1,414,722 | +€1.3m | +1294.1% |
| Tangible fixed assets | 22/27 | €100,941 | €94,987 | -€5,954 | -5.9% |
| Plant, machinery and equipment | 23 | €80,383 | €79,002 | -€1,381 | -1.7% |
| Furniture and vehicles | 24 | €20,558 | €15,985 | -€4,573 | -22.2% |
| Financial fixed assets | 28 | €535 | €1,319,735 | +€1.3m | +246579.4% |
| Current assets | 29/58 | €97,126 | €129,894 | +€32,768 | +33.7% |
| Stocks and contracts in progress | 3 | €11,435 | €22,517 | +€11,083 | +96.9% |
| Stocks | 30/36 | €11,435 | €22,517 | +€11,083 | +96.9% |
| Amounts receivable within one year | 40/41 | €52,949 | €86,798 | +€33,850 | +63.9% |
| Trade receivables | 40 | €34,274 | €73,407 | +€39,133 | +114.2% |
| Other amounts receivable | 41 | €18,675 | €13,391 | -€5,283 | -28.3% |
| Cash at bank and in hand | 54/58 | €26,887 | €7,580 | -€19,307 | -71.8% |
| Deferred charges and accrued income | 490/1 | €5,856 | €12,999 | +€7,143 | +122.0% |
| Total equity and liabilities | 10/49 | €198,602 | €1,544,616 | +€1.3m | +677.7% |
| Equity | 10/15 | €75,581 | €21,360 | -€54,222 | -71.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €70,581 | €16,360 | -€54,222 | -76.8% |
| Amounts payable | 17/49 | €123,021 | €1,523,256 | +€1.4m | +1138.2% |
| Amounts payable after more than one year | 17 | - | €1,234,545 | +€1.2m | |
| Financial debts | 170/4 | - | €1,234,545 | +€1.2m | |
| Amounts payable within one year | 42/48 | €122,959 | €287,545 | +€164,586 | +133.9% |
| Current portion of amounts payable after more than one year | 42 | - | €43,684 | +€43,684 | |
| Financial debts | 43 | - | €100,000 | +€100,000 | |
| Other loans | 439 | - | €100,000 | +€100,000 | |
| Trade debts | 44 | €77,657 | €75,280 | -€2,377 | -3.1% |
| Suppliers | 440/4 | €77,657 | €75,280 | -€2,377 | -3.1% |
| Taxes, remuneration and social security | 45 | €19,390 | €11,398 | -€7,992 | -41.2% |
| Taxes | 450/3 | €17,491 | €6,128 | -€11,363 | -65.0% |
| Remuneration and social security | 454/9 | €1,899 | €5,270 | +€3,371 | +177.5% |
| Other amounts payable | 47/48 | €25,912 | €57,182 | +€31,270 | +120.7% |
| Accrued charges and deferred income | 492/3 | €62 | €1,167 | +€1,105 | +1793.3% |
| Remuneration, social security and pensions | 62 | €6,679 | €41,271 | +€34,592 | +517.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,325 | €29,876 | +€17,551 | +142.4% |
| Other operating charges | 640/8 | €3,863 | €5,066 | +€1,203 | +31.2% |
| Gross operating margin | 9900 | €54,357 | €24,505 | -€29,852 | -54.9% |
| Operating profit (loss) | 9901 | €31,489 | -€51,709 | -€83,198 | |
| Financial income | 75/76B | €550 | €12,710 | +€12,160 | +2210.1% |
| Recurring financial income | 75 | €550 | €12,710 | +€12,160 | +2210.1% |
| Financial charges | 65/66B | €2,288 | €15,223 | +€12,935 | +565.3% |
| Recurring financial charges | 65 | €2,288 | €15,223 | +€12,935 | +565.3% |
| Profit (loss) for the period before taxes | 9903 | €29,751 | -€54,222 | -€83,973 | |
| Income taxes | 67/77 | €5,802 | €0 | -€5,802 | -100.0% |
| Profit (loss) for the period | 9904 | €23,950 | -€54,222 | -€78,172 | |
| Profit (loss) for the period to be appropriated | 9905 | €23,950 | -€54,222 | -€78,172 |
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 9 October 2026 via checked.be.