VLEESWAREN HOLE: 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.
VLEESWAREN HOLE
Largest movements
- Cash +€32,467
up €32,467 (+11.6%), from €280,324 to €312,791
mainly Net result for the year (+€49,159) and Current portion of long-term debt (+€18,100)
- Tangible fixed assets +€31,364
up €31,364 (+64.1%), from €48,941 to €80,304
of which Furniture and vehicles: +€38,589
- Current investments +€27,004
up €27,004 (+269%), from €10,033 to €37,037
- Stocks and contracts -€6,965
down €6,965 (-33.9%), from €20,575 to €13,610
of which Stocks: -€6,750
- Deferred charges and accrued income -€6,766
down €6,766 (-84.0%), from €8,058 to €1,292
- Reserves +€49,159
up €49,159 (+26.6%), from €184,660 to €233,819
of which Distributable reserves: +€49,159
- Current portion of long-term debt +€18,100
new in 2025: €18,100
- Debts after one year +€6,172
new in 2025: €6,172
- Other debts +€6,025
up €6,025 (+104%), from €5,772 to €11,797
- Trade debts -€5,750
down €5,750 (-9.8%), from €58,746 to €52,995
- Gross operating margin +€32,642
up €32,642 (+31.5%), from €103,661 to €136,303
- Depreciation +€7,723
up €7,723 (+122%), from €6,336 to €14,059
- Taxes +€6,449
up €6,449 (+44.2%), from €14,585 to €21,035
- Staff costs +€2,736
up €2,736 (+6.7%), from €40,880 to €43,616
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 | €387,854 | €458,916 | +€71,062 | +18.3% |
| Fixed assets | 21/28 | €48,941 | €80,304 | +€31,364 | +64.1% |
| Tangible fixed assets | 22/27 | €48,941 | €80,304 | +€31,364 | +64.1% |
| Land and buildings | 22 | €28,751 | €28,636 | -€116 | -0.4% |
| Plant, machinery and equipment | 23 | €19,803 | €12,694 | -€7,109 | -35.9% |
| Furniture and vehicles | 24 | €386 | €38,975 | +€38,589 | +9,997% |
| Current assets | 29/58 | €338,913 | €378,611 | +€39,698 | +11.7% |
| Stocks and contracts in progress | 3 | €20,575 | €13,610 | -€6,965 | -33.9% |
| Stocks | 30/36 | €18,900 | €12,150 | -€6,750 | -35.7% |
| Contracts in progress | 37 | €1,675 | €1,460 | -€215 | -12.8% |
| Amounts receivable within one year | 40/41 | €19,923 | €13,881 | -€6,042 | -30.3% |
| Trade receivables | 40 | €8,854 | €8,177 | -€677 | -7.6% |
| Other amounts receivable | 41 | €11,069 | €5,704 | -€5,365 | -48.5% |
| Current investments | 50/53 | €10,033 | €37,037 | +€27,004 | +269% |
| Cash at bank and in hand | 54/58 | €280,324 | €312,791 | +€32,467 | +11.6% |
| Deferred charges and accrued income | 490/1 | €8,058 | €1,292 | -€6,766 | -84.0% |
| Total equity and liabilities | 10/49 | €387,854 | €458,916 | +€71,062 | +18.3% |
| Equity | 10/15 | €308,607 | €357,766 | +€49,159 | +15.9% |
| Contributions | 10/11 | €123,947 | €123,947 | = | 0.0% |
| Reserves | 13 | €184,660 | €233,819 | +€49,159 | +26.6% |
| Tax-exempt reserves | 132 | €4,958 | €4,958 | = | 0.0% |
| Distributable reserves | 133 | €179,702 | €228,861 | +€49,159 | +27.4% |
| Amounts payable | 17/49 | €79,247 | €101,150 | +€21,903 | +27.6% |
| Amounts payable after more than one year | 17 | - | €6,172 | +€6,172 | |
| Financial debts | 170/4 | - | €6,172 | +€6,172 | |
| Amounts payable within one year | 42/48 | €79,247 | €94,977 | +€15,730 | +19.8% |
| Current portion of amounts payable after more than one year | 42 | - | €18,100 | +€18,100 | |
| Trade debts | 44 | €58,746 | €52,995 | -€5,750 | -9.8% |
| Suppliers | 440/4 | €58,746 | €52,995 | -€5,750 | -9.8% |
| Taxes, remuneration and social security | 45 | €14,729 | €12,084 | -€2,645 | -18.0% |
| Taxes | 450/3 | €3,845 | €950 | -€2,895 | -75.3% |
| Remuneration and social security | 454/9 | €10,884 | €11,135 | +€251 | +2.3% |
| Other amounts payable | 47/48 | €5,772 | €11,797 | +€6,025 | +104% |
| Non-recurring operating income | 76A | - | €1,826 | +€1,826 | |
| Remuneration, social security and pensions | 62 | €40,880 | €43,616 | +€2,736 | +6.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,336 | €14,059 | +€7,723 | +122% |
| Other operating charges | 640/8 | €6,935 | €6,931 | -€3 | 0.0% |
| Gross operating margin | 9900 | €103,661 | €136,303 | +€32,642 | +31.5% |
| Operating profit (loss) | 9901 | €49,511 | €71,697 | +€22,187 | +44.8% |
| Financial income | 75/76B | €0 | €4 | +€4 | +3,791% |
| Recurring financial income | 75 | €0 | €4 | +€4 | +3,791% |
| Financial charges | 65/66B | €600 | €1,508 | +€907 | +151% |
| Recurring financial charges | 65 | €600 | €1,508 | +€907 | +151% |
| Profit (loss) for the period before taxes | 9903 | €48,910 | €70,194 | +€21,284 | +43.5% |
| Income taxes | 67/77 | €14,585 | €21,035 | +€6,449 | +44.2% |
| Profit (loss) for the period | 9904 | €34,325 | €49,159 | +€14,834 | +43.2% |
| Profit (loss) for the period to be appropriated | 9905 | €34,325 | €49,159 | +€14,834 | +43.2% |
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 26 October 2026 via checked.be.