Vleesmeester Brewery: what changed
Vleesmeester Brewery
Largest movements
- Receivables within one year +€76,254
up €76,254 (+259%), from €29,470 to €105,725
of which Trade receivables: +€75,973
- Cash -€54,671
down €54,671 (-41.0%), from €133,278 to €78,607
mainly Receivables within one year (-€76,254) and Debts after one year (-€48,232)
- Tangible fixed assets -€15,476
down €15,476 (-6.4%), from €242,177 to €226,701
of which Other tangible fixed assets: -€15,201
- Profit (loss) carried forward +€54,739
up €54,739 (+55.6%), from -€98,449 to -€43,709
- Debts after one year -€48,232
down €48,232 (-25.2%), from €191,109 to €142,877
of which Other amounts payable: -€35,003
- Other debts +€24,507
up €24,507 (+94.0%), from €26,072 to €50,579
- Accrued charges and deferred income -€8,849
down €8,849 (-62.7%), from €14,118 to €5,269
- Current portion of long-term debt -€8,835
down €8,835 (-31.6%), from €27,934 to €19,099
- Gross operating margin +€94,285
up €94,285 (+699%), from €13,489 to €107,773
- Other operating charges -€4,347
down €4,347 (-50.5%), from €8,606 to €4,259
- Financial charges +€3,718
up €3,718 (+103%), from €3,609 to €7,328
- Depreciation +€1,996
up €1,996 (+4.8%), from €41,729 to €43,725
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €440,289 | €447,640 | +€7,351 | +1.7% |
| Fixed assets | 21/28 | €249,304 | €233,828 | -€15,476 | -6.2% |
| Tangible fixed assets | 22/27 | €242,177 | €226,701 | -€15,476 | -6.4% |
| Plant, machinery and equipment | 23 | €986 | €5,726 | +€4,740 | +481% |
| Leasing and similar rights | 25 | €89,276 | €84,261 | -€5,015 | -5.6% |
| Other tangible fixed assets | 26 | €151,915 | €136,714 | -€15,201 | -10.0% |
| Financial fixed assets | 28 | €7,127 | €7,127 | = | 0.0% |
| Current assets | 29/58 | €190,985 | €213,812 | +€22,827 | +12.0% |
| Stocks and contracts in progress | 3 | €27,822 | €28,178 | +€356 | +1.3% |
| Stocks | 30/36 | €27,822 | €28,178 | +€356 | +1.3% |
| Amounts receivable within one year | 40/41 | €29,470 | €105,725 | +€76,254 | +259% |
| Trade receivables | 40 | €21,755 | €97,729 | +€75,973 | +349% |
| Other amounts receivable | 41 | €7,715 | €7,996 | +€281 | +3.6% |
| Cash at bank and in hand | 54/58 | €133,278 | €78,607 | -€54,671 | -41.0% |
| Deferred charges and accrued income | 490/1 | €415 | €1,302 | +€888 | +214% |
| Total equity and liabilities | 10/49 | €440,289 | €447,640 | +€7,351 | +1.7% |
| Equity | 10/15 | €170,368 | €223,017 | +€52,649 | +30.9% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€98,449 | -€43,709 | +€54,739 | +55.6% |
| Investment grants | 15 | €18,817 | €16,726 | -€2,091 | -11.1% |
| Amounts payable | 17/49 | €269,921 | €224,623 | -€45,298 | -16.8% |
| Amounts payable after more than one year | 17 | €191,109 | €142,877 | -€48,232 | -25.2% |
| Financial debts | 170/4 | €76,111 | €62,882 | -€13,229 | -17.4% |
| Other amounts payable | 178/9 | €114,998 | €79,995 | -€35,003 | -30.4% |
| Amounts payable within one year | 42/48 | €64,694 | €76,477 | +€11,783 | +18.2% |
| Current portion of amounts payable after more than one year | 42 | €27,934 | €19,099 | -€8,835 | -31.6% |
| Trade debts | 44 | €9,713 | €6,269 | -€3,444 | -35.5% |
| Suppliers | 440/4 | €9,713 | €6,269 | -€3,444 | -35.5% |
| Advances received on contracts in progress | 46 | €976 | - | -€976 | |
| Taxes, remuneration and social security | 45 | - | €531 | +€531 | |
| Taxes | 450/3 | - | €531 | +€531 | |
| Other amounts payable | 47/48 | €26,072 | €50,579 | +€24,507 | +94.0% |
| Accrued charges and deferred income | 492/3 | €14,118 | €5,269 | -€8,849 | -62.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,729 | €43,725 | +€1,996 | +4.8% |
| Other operating charges | 640/8 | €8,606 | €4,259 | -€4,347 | -50.5% |
| Gross operating margin | 9900 | €13,489 | €107,773 | +€94,285 | +699% |
| Operating profit (loss) | 9901 | -€36,846 | €59,789 | +€96,635 | |
| Financial income | 75/76B | €2,247 | €2,266 | +€19 | +0.8% |
| Recurring financial income | 75 | €2,247 | €2,266 | +€19 | +0.8% |
| Financial charges | 65/66B | €3,609 | €7,328 | +€3,718 | +103% |
| Recurring financial charges | 65 | €3,609 | €7,328 | +€3,718 | +103% |
| Profit (loss) for the period before taxes | 9903 | -€38,209 | €54,727 | +€92,936 | |
| Income taxes | 67/77 | - | -€13 | -€13 | |
| Profit (loss) for the period | 9904 | -€38,209 | €54,739 | +€92,949 | |
| Profit (loss) for the period to be appropriated | 9905 | -€38,209 | €54,739 | +€92,949 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.