VINCENT BODART: 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.
VINCENT BODART
Largest movements
- Cash +€414,313
up €414,313 (+861%), from €48,115 to €462,428
mainly Net result for the year (+€356,857) and Tax, wage and social debts (+€77,912)
- Receivables within one year -€74,887
down €74,887 (-9.7%), from €771,809 to €696,922
- Profit (loss) carried forward +€286,857
up €286,857 (+75.0%), from €382,391 to €669,247
- Tax, wage and social debts +€77,912
up €77,912 (+113%), from €68,894 to €146,806
of which Taxes: +€68,609
- Debts after one year -€53,452
down €53,452 (-40.8%), from €130,942 to €77,490
- Accrued charges and deferred income +€52,802
up €52,802 (+48.9%), from €107,914 to €160,716
- Current portion of long-term debt -€17,150
down €17,150 (-24.3%), from €70,602 to €53,452
- Gross operating margin +€189,662
up €189,662 (+38.3%), from €494,975 to €684,636
- Taxes +€43,435
up €43,435 (+57.0%), from €76,139 to €119,574
- Staff costs +€18,617
up €18,617 (+13.0%), from €143,639 to €162,256
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 | €963,821 | €1,301,939 | +€338,119 | +35.1% |
| Fixed assets | 21/28 | €143,896 | €142,589 | -€1,307 | -0.9% |
| Tangible fixed assets | 22/27 | €143,564 | €142,257 | -€1,307 | -0.9% |
| Land and buildings | 22 | €59,912 | €76,119 | +€16,207 | +27.1% |
| Furniture and vehicles | 24 | €18,936 | €17,619 | -€1,316 | -7.0% |
| Leasing and similar rights | 25 | €64,717 | €48,518 | -€16,198 | -25.0% |
| Financial fixed assets | 28 | €332 | €332 | = | 0.0% |
| Current assets | 29/58 | €819,925 | €1,159,351 | +€339,426 | +41.4% |
| Amounts receivable within one year | 40/41 | €771,809 | €696,922 | -€74,887 | -9.7% |
| Trade receivables | 40 | €771,809 | €696,922 | -€74,887 | -9.7% |
| Cash at bank and in hand | 54/58 | €48,115 | €462,428 | +€414,313 | +861% |
| Total equity and liabilities | 10/49 | €963,821 | €1,301,939 | +€338,119 | +35.1% |
| Equity | 10/15 | €487,233 | €774,090 | +€286,857 | +58.9% |
| Contributions | 10/11 | €38,600 | €38,600 | = | 0.0% |
| Reserves | 13 | €66,242 | €66,242 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,860 | €3,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,860 | €3,860 | = | 0.0% |
| Distributable reserves | 133 | €62,382 | €62,382 | = | 0.0% |
| Profit (loss) carried forward | 14 | €382,391 | €669,247 | +€286,857 | +75.0% |
| Amounts payable | 17/49 | €476,588 | €527,850 | +€51,262 | +10.8% |
| Amounts payable after more than one year | 17 | €130,942 | €77,490 | -€53,452 | -40.8% |
| Financial debts | 170/4 | €130,942 | €77,490 | -€53,452 | -40.8% |
| Amounts payable within one year | 42/48 | €237,732 | €289,644 | +€51,912 | +21.8% |
| Current portion of amounts payable after more than one year | 42 | €70,602 | €53,452 | -€17,150 | -24.3% |
| Financial debts | 43 | €60,000 | €50,138 | -€9,862 | -16.4% |
| Credit institutions | 430/8 | €60,000 | €50,138 | -€9,862 | -16.4% |
| Trade debts | 44 | €25,282 | €36,874 | +€11,592 | +45.8% |
| Suppliers | 440/4 | €25,282 | €36,874 | +€11,592 | +45.8% |
| Taxes, remuneration and social security | 45 | €68,894 | €146,806 | +€77,912 | +113% |
| Taxes | 450/3 | €50,630 | €119,239 | +€68,609 | +136% |
| Remuneration and social security | 454/9 | €18,264 | €27,567 | +€9,303 | +50.9% |
| Other amounts payable | 47/48 | €12,954 | €2,375 | -€10,579 | -81.7% |
| Accrued charges and deferred income | 492/3 | €107,914 | €160,716 | +€52,802 | +48.9% |
| Remuneration, social security and pensions | 62 | €143,639 | €162,256 | +€18,617 | +13.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,637 | €32,826 | +€2,190 | +7.1% |
| Other operating charges | 640/8 | €8,551 | €2,256 | -€6,295 | -73.6% |
| Gross operating margin | 9900 | €494,975 | €684,636 | +€189,662 | +38.3% |
| Operating profit (loss) | 9901 | €312,148 | €487,299 | +€175,150 | +56.1% |
| Financial income | 75/76B | €2 | €0 | -€2 | -92.5% |
| Recurring financial income | 75 | €2 | €0 | -€2 | -92.5% |
| Financial charges | 65/66B | €10,949 | €10,868 | -€81 | -0.7% |
| Recurring financial charges | 65 | €10,949 | €10,868 | -€81 | -0.7% |
| Profit (loss) for the period before taxes | 9903 | €301,201 | €476,431 | +€175,229 | +58.2% |
| Income taxes | 67/77 | €76,139 | €119,574 | +€43,435 | +57.0% |
| Profit (loss) for the period | 9904 | €225,062 | €356,857 | +€131,794 | +58.6% |
| Profit (loss) for the period to be appropriated | 9905 | €225,062 | €356,857 | +€131,794 | +58.6% |
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 25 October 2026 via checked.be.