Vincent De Moor: 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 De Moor
Largest movements
- Cash +€82,332
up €82,332 (+555%), from €14,836 to €97,168
mainly Net result for the year (+€251,061) and Tax, wage and social debts (+€23,113)
- Current investments +€73,916
up €73,916 (+46.2%), from €160,022 to €233,938
- Profit (loss) carried forward +€173,476
up €173,476, from €0 to €173,476
- Debts after one year -€122,737
down €122,737 (-9.7%), from €1.3m to €1.1m
- Reserves +€77,585
up €77,585 (+19.0%), from €408,282 to €485,867
- Tax, wage and social debts +€23,113
up €23,113 (+112%), from €20,719 to €43,832
- Financial charges -€12,456
down €12,456 (-20.8%), from €59,743 to €47,287
- Gross operating margin +€11,516
up €11,516 (+7.7%), from €149,392 to €160,908
- Financial income +€11,122
up €11,122 (+6.8%), from €162,659 to €173,781
- Depreciation +€7,258
up €7,258 (+356%), from €2,040 to €9,298
- Taxes +€7,040
up €7,040 (+38.6%), from €18,238 to €25,278
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 | €2,074,260 | €2,227,707 | +€153,447 | +7.4% |
| Fixed assets | 21/28 | €1,898,520 | €1,893,413 | -€5,108 | -0.3% |
| Tangible fixed assets | 22/27 | €309,306 | €304,199 | -€5,108 | -1.7% |
| Land and buildings | 22 | €309,306 | €300,776 | -€8,530 | -2.8% |
| Furniture and vehicles | 24 | - | €3,422 | +€3,422 | |
| Financial fixed assets | 28 | €1,589,214 | €1,589,214 | = | 0.0% |
| Current assets | 29/58 | €175,739 | €334,294 | +€158,555 | +90.2% |
| Amounts receivable within one year | 40/41 | €32 | €234 | +€202 | +632% |
| Other amounts receivable | 41 | €32 | €234 | +€202 | +632% |
| Current investments | 50/53 | €160,022 | €233,938 | +€73,916 | +46.2% |
| Cash at bank and in hand | 54/58 | €14,836 | €97,168 | +€82,332 | +555% |
| Deferred charges and accrued income | 490/1 | €850 | €2,954 | +€2,104 | +248% |
| Total equity and liabilities | 10/49 | €2,074,260 | €2,227,707 | +€153,447 | +7.4% |
| Equity | 10/15 | €658,282 | €909,343 | +€251,061 | +38.1% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €408,282 | €485,867 | +€77,585 | +19.0% |
| Distributable reserves | 133 | €408,282 | €485,867 | +€77,585 | +19.0% |
| Profit (loss) carried forward | 14 | €0 | €173,476 | +€173,476 | |
| Amounts payable | 17/49 | €1,415,977 | €1,318,364 | -€97,614 | -6.9% |
| Amounts payable after more than one year | 17 | €1,263,784 | €1,141,047 | -€122,737 | -9.7% |
| Financial debts | 170/4 | €1,263,784 | €1,141,047 | -€122,737 | -9.7% |
| Amounts payable within one year | 42/48 | €152,193 | €177,316 | +€25,123 | +16.5% |
| Current portion of amounts payable after more than one year | 42 | €118,595 | €122,737 | +€4,142 | +3.5% |
| Trade debts | 44 | €2,025 | €1,842 | -€184 | -9.1% |
| Suppliers | 440/4 | €2,025 | €1,842 | -€184 | -9.1% |
| Taxes, remuneration and social security | 45 | €20,719 | €43,832 | +€23,113 | +112% |
| Taxes | 450/3 | €20,719 | €43,832 | +€23,113 | +112% |
| Other amounts payable | 47/48 | €10,854 | €8,906 | -€1,948 | -17.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,040 | €9,298 | +€7,258 | +356% |
| Other operating charges | 640/8 | €530 | €1,765 | +€1,235 | +233% |
| Gross operating margin | 9900 | €149,392 | €160,908 | +€11,516 | +7.7% |
| Operating profit (loss) | 9901 | €146,822 | €149,845 | +€3,022 | +2.1% |
| Financial income | 75/76B | €162,659 | €173,781 | +€11,122 | +6.8% |
| Recurring financial income | 75 | €162,659 | €173,781 | +€11,122 | +6.8% |
| Financial charges | 65/66B | €59,743 | €47,287 | -€12,456 | -20.8% |
| Recurring financial charges | 65 | €59,743 | €47,287 | -€12,456 | -20.8% |
| Profit (loss) for the period before taxes | 9903 | €249,739 | €276,339 | +€26,600 | +10.7% |
| Income taxes | 67/77 | €18,238 | €25,278 | +€7,040 | +38.6% |
| Profit (loss) for the period | 9904 | €231,501 | €251,061 | +€19,560 | +8.4% |
| Profit (loss) for the period to be appropriated | 9905 | €231,501 | €251,061 | +€19,560 | +8.4% |
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 31 October 2026 via checked.be.