Vosselaere Put: 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.
Vosselaere Put
Largest movements
- Tangible fixed assets -€58,684
down €58,684 (-10.2%), from €572,983 to €514,299
of which Plant, machinery and equipment: -€36,513
- Receivables within one year +€9,880
up €9,880 (+524%), from €1,886 to €11,766
of which Trade receivables: +€10,140
- Debts after one year +€83,450
up €83,450 (+10.3%), from €808,940 to €892,390
- Profit (loss) carried forward -€66,343
down €66,343 (-18.5%), from -€358,474 to -€424,817
- Current portion of long-term debt -€55,000
down €55,000 (-91.7%), from €60,000 to €5,000
- Trade debts -€45,163
down €45,163 (-62.9%), from €71,831 to €26,668
- Other debts +€29,692
up €29,692 (+1,218%), from €2,438 to €32,130
- Staff costs -€45,999
down €45,999 (-17.0%), from €270,934 to €224,935
- Gross operating margin -€17,249
down €17,249 (-6.6%), from €263,287 to €246,038
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 | €629,569 | €575,193 | -€54,376 | -8.6% |
| Fixed assets | 21/28 | €578,319 | €518,476 | -€59,844 | -10.3% |
| Intangible fixed assets | 21 | €2,666 | €1,507 | -€1,160 | -43.5% |
| Tangible fixed assets | 22/27 | €572,983 | €514,299 | -€58,684 | -10.2% |
| Land and buildings | 22 | €421,625 | €399,454 | -€22,171 | -5.3% |
| Plant, machinery and equipment | 23 | €151,358 | €114,845 | -€36,513 | -24.1% |
| Financial fixed assets | 28 | €2,670 | €2,670 | = | 0.0% |
| Current assets | 29/58 | €51,250 | €56,718 | +€5,468 | +10.7% |
| Stocks and contracts in progress | 3 | €39,223 | €41,455 | +€2,233 | +5.7% |
| Stocks | 30/36 | €39,223 | €41,455 | +€2,233 | +5.7% |
| Amounts receivable within one year | 40/41 | €1,886 | €11,766 | +€9,880 | +524% |
| Trade receivables | 40 | €758 | €10,898 | +€10,140 | +1,338% |
| Other amounts receivable | 41 | €1,128 | €867 | -€260 | -23.1% |
| Cash at bank and in hand | 54/58 | €3,773 | €972 | -€2,801 | -74.2% |
| Deferred charges and accrued income | 490/1 | €6,368 | €2,525 | -€3,844 | -60.4% |
| Total equity and liabilities | 10/49 | €629,569 | €575,193 | -€54,376 | -8.6% |
| Equity | 10/15 | -€348,474 | -€414,817 | -€66,343 | -19.0% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€358,474 | -€424,817 | -€66,343 | -18.5% |
| Amounts payable | 17/49 | €978,043 | €990,010 | +€11,967 | +1.2% |
| Amounts payable after more than one year | 17 | €808,940 | €892,390 | +€83,450 | +10.3% |
| Financial debts | 170/4 | €808,940 | €892,390 | +€83,450 | +10.3% |
| Amounts payable within one year | 42/48 | €166,014 | €94,171 | -€71,843 | -43.3% |
| Current portion of amounts payable after more than one year | 42 | €60,000 | €5,000 | -€55,000 | -91.7% |
| Financial debts | 43 | €2,197 | €2,292 | +€95 | +4.3% |
| Credit institutions | 430/8 | €2,197 | €2,292 | +€95 | +4.3% |
| Trade debts | 44 | €71,831 | €26,668 | -€45,163 | -62.9% |
| Suppliers | 440/4 | €71,831 | €26,668 | -€45,163 | -62.9% |
| Taxes, remuneration and social security | 45 | €29,548 | €28,081 | -€1,467 | -5.0% |
| Taxes | 450/3 | €3,271 | €3,632 | +€361 | +11.0% |
| Remuneration and social security | 454/9 | €26,277 | €24,449 | -€1,828 | -7.0% |
| Other amounts payable | 47/48 | €2,438 | €32,130 | +€29,692 | +1,218% |
| Accrued charges and deferred income | 492/3 | €3,088 | €3,449 | +€361 | +11.7% |
| Remuneration, social security and pensions | 62 | €270,934 | €224,935 | -€45,999 | -17.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €78,673 | €80,650 | +€1,978 | +2.5% |
| Other operating charges | 640/8 | €2,442 | €1,888 | -€554 | -22.7% |
| Non-recurring operating charges | 66A | - | €30 | +€30 | |
| Gross operating margin | 9900 | €263,287 | €246,038 | -€17,249 | -6.6% |
| Operating profit (loss) | 9901 | -€88,762 | -€61,466 | +€27,296 | +30.8% |
| Financial income | 75/76B | €2,055 | €0 | -€2,055 | -100.0% |
| Recurring financial income | 75 | €2,055 | €0 | -€2,055 | -100.0% |
| Financial charges | 65/66B | €2,765 | €4,877 | +€2,112 | +76.4% |
| Recurring financial charges | 65 | €2,765 | €4,877 | +€2,112 | +76.4% |
| Profit (loss) for the period before taxes | 9903 | -€89,472 | -€66,343 | +€23,129 | +25.9% |
| Profit (loss) for the period | 9904 | -€89,472 | -€66,343 | +€23,129 | +25.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€89,472 | -€66,343 | +€23,129 | +25.9% |
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 20 October 2026 via checked.be.