VESSCHEMOET KOEN: 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.
VESSCHEMOET KOEN
Largest movements
- Receivables within one year -€23,362
down €23,362 (-27.4%), from €85,285 to €61,923
of which Trade receivables: -€13,777
- Cash -€20,376
down €20,376 (-16.5%), from €123,206 to €102,830
mainly Contributions, distributions and other (-€88,853) and Investment in fixed assets (net) (-€47,000)
- Tangible fixed assets +€12,843
up €12,843 (+11.9%), from €107,920 to €120,764
of which Furniture and vehicles: +€19,749
- Reserves -€41,776
down €41,776 (-13.0%), from €320,271 to €278,495
of which Distributable reserves: -€41,776
- Debts after one year +€9,089
up €9,089 (+18.6%), from €48,800 to €57,889
- Current portion of long-term debt +€8,220
up €8,220 (+46.5%), from €17,691 to €25,910
- Trade debts -€7,369
down €7,369 (-38.8%), from €18,990 to €11,621
- Gross operating margin -€78,704
down €78,704 (-43.4%), from €181,367 to €102,663
- Taxes -€24,986
down €24,986 (-55.9%), from €44,669 to €19,683
- Depreciation +€4,757
up €4,757 (+16.2%), from €29,400 to €34,157
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €426,799 | €395,136 | -€31,663 | -7.4% |
| Fixed assets | 21/28 | €107,920 | €120,764 | +€12,843 | +11.9% |
| Tangible fixed assets | 22/27 | €107,920 | €120,764 | +€12,843 | +11.9% |
| Plant, machinery and equipment | 23 | €3,296 | €2,045 | -€1,250 | -37.9% |
| Furniture and vehicles | 24 | €74,485 | €94,234 | +€19,749 | +26.5% |
| Other tangible fixed assets | 26 | €30,139 | €24,484 | -€5,655 | -18.8% |
| Current assets | 29/58 | €318,879 | €274,373 | -€44,506 | -14.0% |
| Stocks and contracts in progress | 3 | €2,500 | €2,500 | = | 0.0% |
| Stocks | 30/36 | €2,500 | €2,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €85,285 | €61,923 | -€23,362 | -27.4% |
| Trade receivables | 40 | €62,340 | €48,563 | -€13,777 | -22.1% |
| Other amounts receivable | 41 | €22,945 | €13,360 | -€9,586 | -41.8% |
| Current investments | 50/53 | €100,000 | €100,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €123,206 | €102,830 | -€20,376 | -16.5% |
| Deferred charges and accrued income | 490/1 | €7,888 | €7,120 | -€768 | -9.7% |
| Total equity and liabilities | 10/49 | €426,799 | €395,136 | -€31,663 | -7.4% |
| Equity | 10/15 | €332,671 | €290,895 | -€41,776 | -12.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €320,271 | €278,495 | -€41,776 | -13.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €301,521 | €259,745 | -€41,776 | -13.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €94,128 | €104,242 | +€10,113 | +10.7% |
| Amounts payable after more than one year | 17 | €48,800 | €57,889 | +€9,089 | +18.6% |
| Financial debts | 170/4 | €48,800 | €57,889 | +€9,089 | +18.6% |
| Amounts payable within one year | 42/48 | €45,329 | €46,352 | +€1,024 | +2.3% |
| Current portion of amounts payable after more than one year | 42 | €17,691 | €25,910 | +€8,220 | +46.5% |
| Trade debts | 44 | €18,990 | €11,621 | -€7,369 | -38.8% |
| Suppliers | 440/4 | €18,990 | €11,621 | -€7,369 | -38.8% |
| Advances received on contracts in progress | 46 | €4,100 | €4,618 | +€518 | +12.6% |
| Taxes, remuneration and social security | 45 | €4,548 | €4,203 | -€344 | -7.6% |
| Taxes | 450/3 | €1,476 | €1,131 | -€346 | -23.4% |
| Remuneration and social security | 454/9 | €3,072 | €3,073 | +€1 | 0.0% |
| Non-recurring operating income | 76A | €0 | €1,250 | +€1,250 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,400 | €34,157 | +€4,757 | +16.2% |
| Other operating charges | 640/8 | €1,570 | €610 | -€960 | -61.2% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €181,367 | €102,663 | -€78,704 | -43.4% |
| Operating profit (loss) | 9901 | €150,398 | €67,897 | -€82,500 | -54.9% |
| Financial income | 75/76B | €2,302 | €910 | -€1,392 | -60.5% |
| Recurring financial income | 75 | €922 | €910 | -€12 | -1.3% |
| Non-recurring financial income | 76B | €1,380 | €0 | -€1,380 | -100% |
| Financial charges | 65/66B | €3,838 | €2,048 | -€1,791 | -46.7% |
| Recurring financial charges | 65 | €3,838 | €2,048 | -€1,791 | -46.7% |
| Profit (loss) for the period before taxes | 9903 | €148,862 | €66,760 | -€82,102 | -55.2% |
| Income taxes | 67/77 | €44,669 | €19,683 | -€24,986 | -55.9% |
| Profit (loss) for the period | 9904 | €104,193 | €47,077 | -€57,116 | -54.8% |
| Profit (loss) for the period to be appropriated | 9905 | €104,193 | €47,077 | -€57,116 | -54.8% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.