Versgalerij Andre: 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.
Versgalerij Andre
Largest movements
- Current investments -€300,000
no longer reported in 2025 (was €300,000)
- Cash +€201,011
up €201,011 (+38.4%), from €523,454 to €724,465
mainly Net result for the year (+€552,587) and Current investments (+€300,000)
- Tangible fixed assets -€62,804
down €62,804 (-23.1%), from €272,313 to €209,509
of which Land and buildings: -€43,673
- Stocks and contracts +€30,926
up €30,926 (+33.9%), from €91,202 to €122,127
- Receivables within one year -€14,162
down €14,162 (-24.8%), from €57,122 to €42,959
of which Trade receivables: -€14,242
- Reserves -€121,513
down €121,513 (-28.1%), from €431,856 to €310,343
- Debts after one year -€42,892
down €42,892 (-26.9%), from €159,722 to €116,830
- Tax, wage and social debts +€20,697
up €20,697 (+24.8%), from €83,405 to €104,102
of which Remuneration and social security: +€27,915
- Gross operating margin +€58,699
up €58,699 (+4.8%), from €1.2m to €1.3m
- Staff costs +€28,580
up €28,580 (+5.0%), from €576,737 to €605,317
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 | €1,249,797 | €1,103,348 | -€146,450 | -11.7% |
| Fixed assets | 21/28 | €272,313 | €209,509 | -€62,804 | -23.1% |
| Tangible fixed assets | 22/27 | €272,313 | €209,509 | -€62,804 | -23.1% |
| Land and buildings | 22 | €216,895 | €173,222 | -€43,673 | -20.1% |
| Plant, machinery and equipment | 23 | €47,826 | €31,001 | -€16,824 | -35.2% |
| Furniture and vehicles | 24 | €7,592 | €5,285 | -€2,307 | -30.4% |
| Current assets | 29/58 | €977,484 | €893,839 | -€83,645 | -8.6% |
| Stocks and contracts in progress | 3 | €91,202 | €122,127 | +€30,926 | +33.9% |
| Stocks | 30/36 | €91,202 | €122,127 | +€30,926 | +33.9% |
| Amounts receivable within one year | 40/41 | €57,122 | €42,959 | -€14,162 | -24.8% |
| Trade receivables | 40 | €57,122 | €42,879 | -€14,242 | -24.9% |
| Other amounts receivable | 41 | - | €80 | +€80 | |
| Current investments | 50/53 | €300,000 | - | -€300,000 | |
| Cash at bank and in hand | 54/58 | €523,454 | €724,465 | +€201,011 | +38.4% |
| Deferred charges and accrued income | 490/1 | €5,707 | €4,287 | -€1,420 | -24.9% |
| Total equity and liabilities | 10/49 | €1,249,797 | €1,103,348 | -€146,450 | -11.7% |
| Equity | 10/15 | €451,374 | €329,861 | -€121,513 | -26.9% |
| Contributions | 10/11 | €19,518 | €19,518 | = | 0.0% |
| Reserves | 13 | €431,856 | €310,343 | -€121,513 | -28.1% |
| Distributable reserves | 133 | €431,856 | €310,343 | -€121,513 | -28.1% |
| Amounts payable | 17/49 | €798,423 | €773,487 | -€24,936 | -3.1% |
| Amounts payable after more than one year | 17 | €159,722 | €116,830 | -€42,892 | -26.9% |
| Financial debts | 170/4 | €159,722 | €116,830 | -€42,892 | -26.9% |
| Amounts payable within one year | 42/48 | €638,217 | €656,474 | +€18,256 | +2.9% |
| Current portion of amounts payable after more than one year | 42 | €8,954 | €9,329 | +€375 | +4.2% |
| Trade debts | 44 | €82,231 | €85,013 | +€2,781 | +3.4% |
| Suppliers | 440/4 | €82,231 | €85,013 | +€2,781 | +3.4% |
| Advances received on contracts in progress | 46 | €617 | €365 | -€252 | -40.9% |
| Taxes, remuneration and social security | 45 | €83,405 | €104,102 | +€20,697 | +24.8% |
| Taxes | 450/3 | €18,354 | €11,137 | -€7,217 | -39.3% |
| Remuneration and social security | 454/9 | €65,051 | €92,965 | +€27,915 | +42.9% |
| Other amounts payable | 47/48 | €463,010 | €457,665 | -€5,345 | -1.2% |
| Accrued charges and deferred income | 492/3 | €484 | €183 | -€301 | -62.2% |
| Non-recurring operating income | 76A | €1,653 | - | -€1,653 | |
| Remuneration, social security and pensions | 62 | €576,737 | €605,317 | +€28,580 | +5.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €64,008 | €63,777 | -€231 | -0.4% |
| Other operating charges | 640/8 | €8,319 | €8,622 | +€303 | +3.6% |
| Non-recurring operating charges | 66A | - | €1,047 | +€1,047 | |
| Gross operating margin | 9900 | €1,221,888 | €1,280,587 | +€58,699 | +4.8% |
| Operating profit (loss) | 9901 | €572,823 | €601,824 | +€29,000 | +5.1% |
| Financial income | 75/76B | €10,123 | €4,936 | -€5,187 | -51.2% |
| Recurring financial income | 75 | €10,123 | €4,936 | -€5,187 | -51.2% |
| Financial charges | 65/66B | €8,392 | €7,924 | -€468 | -5.6% |
| Recurring financial charges | 65 | €8,392 | €7,924 | -€468 | -5.6% |
| Profit (loss) for the period before taxes | 9903 | €574,554 | €598,836 | +€24,282 | +4.2% |
| Income taxes | 67/77 | €39,046 | €46,249 | +€7,203 | +18.4% |
| Profit (loss) for the period | 9904 | €535,508 | €552,587 | +€17,079 | +3.2% |
| Profit (loss) for the period to be appropriated | 9905 | €535,508 | €552,587 | +€17,079 | +3.2% |
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 7 October 2026 via checked.be.