VISHANDEL ROMAIN COSTERMANS: 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.
VISHANDEL ROMAIN COSTERMANS
Largest movements
- Cash +€25,806
up €25,806 (+162%), from €15,908 to €41,714
mainly Net result for the year (+€22,031) and Tax, wage and social debts (+€13,959)
- Receivables within one year +€22,587
up €22,587 (+44.7%), from €50,540 to €73,126
of which Trade receivables: +€21,182
- Tangible fixed assets -€7,581
down €7,581 (-25.7%), from €29,485 to €21,904
of which Furniture and vehicles: -€4,362
- Stocks and contracts +€4,025
up €4,025 (+455%), from €884 to €4,909
- Deferred charges and accrued income -€2,040
down €2,040 (-50.2%), from €4,065 to €2,026
- Reserves +€22,000
up €22,000 (+44.0%), from €50,000 to €72,000
- Tax, wage and social debts +€13,959
up €13,959 (+1,504%), from €928 to €14,887
of which Remuneration and social security: +€14,177
- Trade debts +€11,070
up €11,070 (+102%), from €10,856 to €21,927
- Other debts -€4,263
down €4,263 (-17.7%), from €24,052 to €19,789
- Gross operating margin -€62,855
down €62,855 (-38.1%), from €165,046 to €102,191
- Staff costs -€20,544
down €20,544 (-25.5%), from €80,574 to €60,030
- Taxes -€8,283
down €8,283 (-57.4%), from €14,442 to €6,159
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 | €101,017 | €143,814 | +€42,797 | +42.4% |
| Fixed assets | 21/28 | €29,620 | €22,039 | -€7,581 | -25.6% |
| Tangible fixed assets | 22/27 | €29,485 | €21,904 | -€7,581 | -25.7% |
| Plant, machinery and equipment | 23 | €13,564 | €10,345 | -€3,219 | -23.7% |
| Furniture and vehicles | 24 | €15,922 | €11,560 | -€4,362 | -27.4% |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €71,397 | €121,774 | +€50,378 | +70.6% |
| Stocks and contracts in progress | 3 | €884 | €4,909 | +€4,025 | +455% |
| Stocks | 30/36 | €884 | €4,909 | +€4,025 | +455% |
| Amounts receivable within one year | 40/41 | €50,540 | €73,126 | +€22,587 | +44.7% |
| Trade receivables | 40 | €3,483 | €24,665 | +€21,182 | +608% |
| Other amounts receivable | 41 | €47,057 | €48,461 | +€1,404 | +3.0% |
| Cash at bank and in hand | 54/58 | €15,908 | €41,714 | +€25,806 | +162% |
| Deferred charges and accrued income | 490/1 | €4,065 | €2,026 | -€2,040 | -50.2% |
| Total equity and liabilities | 10/49 | €101,017 | €143,814 | +€42,797 | +42.4% |
| Equity | 10/15 | €65,181 | €87,211 | +€22,031 | +33.8% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €50,000 | €72,000 | +€22,000 | +44.0% |
| Distributable reserves | 133 | €50,000 | €72,000 | +€22,000 | +44.0% |
| Profit (loss) carried forward | 14 | €2,681 | €2,711 | +€31 | +1.1% |
| Amounts payable | 17/49 | €35,836 | €56,602 | +€20,766 | +57.9% |
| Amounts payable within one year | 42/48 | €35,836 | €56,602 | +€20,766 | +57.9% |
| Trade debts | 44 | €10,856 | €21,927 | +€11,070 | +102% |
| Suppliers | 440/4 | €10,856 | €21,927 | +€11,070 | +102% |
| Taxes, remuneration and social security | 45 | €928 | €14,887 | +€13,959 | +1,504% |
| Taxes | 450/3 | €732 | €514 | -€219 | -29.8% |
| Remuneration and social security | 454/9 | €196 | €14,373 | +€14,177 | +7,233% |
| Other amounts payable | 47/48 | €24,052 | €19,789 | -€4,263 | -17.7% |
| Remuneration, social security and pensions | 62 | €80,574 | €60,030 | -€20,544 | -25.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,247 | €8,731 | -€1,515 | -14.8% |
| Other operating charges | 640/8 | €2,621 | €1,890 | -€731 | -27.9% |
| Gross operating margin | 9900 | €165,046 | €102,191 | -€62,855 | -38.1% |
| Operating profit (loss) | 9901 | €71,605 | €31,540 | -€40,065 | -56.0% |
| Financial income | 75/76B | €30 | - | -€30 | |
| Recurring financial income | 75 | €30 | - | -€30 | |
| Financial charges | 65/66B | €4,512 | €3,350 | -€1,162 | -25.8% |
| Recurring financial charges | 65 | €4,512 | €3,350 | -€1,162 | -25.8% |
| Profit (loss) for the period before taxes | 9903 | €67,123 | €28,190 | -€38,933 | -58.0% |
| Income taxes | 67/77 | €14,442 | €6,159 | -€8,283 | -57.4% |
| Profit (loss) for the period | 9904 | €52,681 | €22,031 | -€30,650 | -58.2% |
| Profit (loss) for the period to be appropriated | 9905 | €52,681 | €22,031 | -€30,650 | -58.2% |
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 30 October 2026 via checked.be.