VANSIELEGHEM: 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.
VANSIELEGHEM
Largest movements
- Cash +€110,681
up €110,681 (+144%), from €76,653 to €187,333
mainly Depreciation (+€82,272) and Receivables within one year (+€42,821)
- Tangible fixed assets -€48,710
down €48,710 (-20.7%), from €235,726 to €187,016
of which Furniture and vehicles: -€28,086
- Receivables within one year -€42,821
down €42,821 (-77.7%), from €55,107 to €12,287
of which Trade receivables: -€39,749
- Stocks and contracts +€15,640
up €15,640 (+505%), from €3,100 to €18,740
of which Contracts in progress: +€15,000
- Other debts +€40,775
up €40,775 (+41.2%), from €98,901 to €139,676
- Trade debts -€15,807
down €15,807 (-49.3%), from €32,057 to €16,251
- Tax, wage and social debts +€9,839
up €9,839 (+51.8%), from €19,005 to €28,844
of which Taxes: +€10,656
- Reserves +€6,989
up €6,989 (+3.9%), from €180,292 to €187,280
of which Distributable reserves: +€7,613
- Current portion of long-term debt -€4,263
down €4,263 (-83.2%), from €5,124 to €861
- Depreciation +€20,106
up €20,106 (+32.3%), from €62,166 to €82,272
- Gross operating margin -€9,484
down €9,484 (-6.1%), from €155,721 to €146,237
- Taxes -€6,896
down €6,896 (-30.5%), from €22,645 to €15,749
- Staff costs -€3,714
down €3,714 (-100%), from €3,714 to €0
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 | €372,844 | €409,743 | +€36,899 | +9.9% |
| Fixed assets | 21/28 | €235,861 | €187,151 | -€48,710 | -20.7% |
| Tangible fixed assets | 22/27 | €235,726 | €187,016 | -€48,710 | -20.7% |
| Land and buildings | 22 | - | €2,383 | +€2,383 | |
| Plant, machinery and equipment | 23 | €76,797 | €53,790 | -€23,007 | -30.0% |
| Furniture and vehicles | 24 | €158,930 | €130,844 | -€28,086 | -17.7% |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €136,983 | €222,592 | +€85,609 | +62.5% |
| Stocks and contracts in progress | 3 | €3,100 | €18,740 | +€15,640 | +505% |
| Stocks | 30/36 | €3,100 | €3,740 | +€640 | +20.7% |
| Contracts in progress | 37 | €0 | €15,000 | +€15,000 | |
| Amounts receivable within one year | 40/41 | €55,107 | €12,287 | -€42,821 | -77.7% |
| Trade receivables | 40 | €41,582 | €1,833 | -€39,749 | -95.6% |
| Other amounts receivable | 41 | €13,526 | €10,454 | -€3,072 | -22.7% |
| Cash at bank and in hand | 54/58 | €76,653 | €187,333 | +€110,681 | +144% |
| Deferred charges and accrued income | 490/1 | €2,123 | €4,232 | +€2,109 | +99.4% |
| Total equity and liabilities | 10/49 | €372,844 | €409,743 | +€36,899 | +9.9% |
| Equity | 10/15 | €207,829 | €214,818 | +€6,989 | +3.4% |
| Contributions | 10/11 | €12,808 | €12,808 | = | 0.0% |
| Reserves | 13 | €180,292 | €187,280 | +€6,989 | +3.9% |
| Tax-exempt reserves | 132 | €624 | €0 | -€624 | -100% |
| Distributable reserves | 133 | €179,667 | €187,280 | +€7,613 | +4.2% |
| Profit (loss) carried forward | 14 | €14,730 | €14,730 | = | 0.0% |
| Provisions and deferred taxes | 16 | €156 | €0 | -€156 | -100% |
| Deferred taxes | 168 | €156 | €0 | -€156 | -100% |
| Amounts payable | 17/49 | €164,859 | €194,925 | +€30,066 | +18.2% |
| Amounts payable after more than one year | 17 | €861 | €0 | -€861 | -100% |
| Financial debts | 170/4 | €861 | €0 | -€861 | -100% |
| Amounts payable within one year | 42/48 | €155,087 | €185,632 | +€30,544 | +19.7% |
| Current portion of amounts payable after more than one year | 42 | €5,124 | €861 | -€4,263 | -83.2% |
| Trade debts | 44 | €32,057 | €16,251 | -€15,807 | -49.3% |
| Suppliers | 440/4 | €32,057 | €16,251 | -€15,807 | -49.3% |
| Taxes, remuneration and social security | 45 | €19,005 | €28,844 | +€9,839 | +51.8% |
| Taxes | 450/3 | €18,188 | €28,844 | +€10,656 | +58.6% |
| Remuneration and social security | 454/9 | €818 | €0 | -€818 | -100% |
| Other amounts payable | 47/48 | €98,901 | €139,676 | +€40,775 | +41.2% |
| Accrued charges and deferred income | 492/3 | €8,911 | €9,294 | +€383 | +4.3% |
| Non-recurring operating income | 76A | - | €4,000 | +€4,000 | |
| Remuneration, social security and pensions | 62 | €3,714 | €0 | -€3,714 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,166 | €82,272 | +€20,106 | +32.3% |
| Other operating charges | 640/8 | €1,218 | €751 | -€467 | -38.3% |
| Gross operating margin | 9900 | €155,721 | €146,237 | -€9,484 | -6.1% |
| Operating profit (loss) | 9901 | €88,622 | €63,214 | -€25,408 | -28.7% |
| Financial income | 75/76B | €370 | €236 | -€134 | -36.2% |
| Recurring financial income | 75 | €370 | €236 | -€134 | -36.2% |
| Financial charges | 65/66B | €6,583 | €7,642 | +€1,059 | +16.1% |
| Recurring financial charges | 65 | €6,583 | €7,642 | +€1,059 | +16.1% |
| Profit (loss) for the period before taxes | 9903 | €82,409 | €55,808 | -€26,601 | -32.3% |
| Transfer from deferred taxes | 780 | €160 | €156 | -€4 | -2.5% |
| Income taxes | 67/77 | €22,645 | €15,749 | -€6,896 | -30.5% |
| Profit (loss) for the period | 9904 | €59,924 | €40,215 | -€19,709 | -32.9% |
| Transfer from tax-exempt reserves | 789 | €640 | €624 | -€16 | -2.5% |
| Profit (loss) for the period to be appropriated | 9905 | €60,564 | €40,839 | -€19,724 | -32.6% |
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 1 November 2026 via checked.be.