Vrancken Steven: what changed
What changed
Vrancken Steven
NACE 41.001, General construction of residential buildings
filed annual accounts (NBB)
Net result for the year
-€76,046
2024 · -€20,818-€55,229
Equity
-€33,341
2024 · €42,705-€76,046
Cash
€10,420
2024 · €27,750-€17,330
Balance sheet total
€655,321
2024 · €413,902+€241,420
Largest movements
Assets
- Stocks and contracts +€485,787
up €485,787 (+3,523%), from €13,790 to €499,577
- Tangible fixed assets -€233,008
down €233,008 (-82.8%), from €281,291 to €48,283
of which Other tangible fixed assets: -€215,889
- Cash -€17,330
down €17,330 (-62.5%), from €27,750 to €10,420
mainly Stocks and contracts (-€485,787) and Net result for the year (-€76,046)
Equity and liabilities
- Debts after one year +€369,001
up €369,001 (+157%), from €235,343 to €604,343
- Profit (loss) carried forward -€76,046
new in 2025: -€76,046
- Tax, wage and social debts -€31,527
down €31,527 (-97.2%), from €32,428 to €901
of which Taxes: -€17,367
- Trade debts -€17,387
down €17,387 (-20.3%), from €85,668 to €68,281
Income statement
- Gross operating margin -€102,407
down €102,407 (-45.9%), from €223,074 to €120,667
- Write-downs -€15,840
no longer reported in 2025 (was €15,840)
- Depreciation -€14,945
down €14,945 (-41.7%), from €35,815 to €20,870
- Staff costs -€10,159
down €10,159 (-5.7%), from €176,772 to €166,613
- Financial charges -€8,496
down €8,496 (-57.6%), from €14,741 to €6,245
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.
Result 2024
-€20,818
Gross operating margin
-€102,407
Staff costs
+€10,159
Depreciation
+€14,945
Write-downs
+€15,840
Other operating charges
-€1,913
Financial income
-€357
Financial charges
+€8,496
Taxes
+€8
Result 2025
-€76,046
raises the resultlowers the result
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.
From operations
-€595,848
Investment
+€212,138
Financing
+€366,380
Cash 2024
€27,750
From operations (derived)
-€595,848
Net result for the year
-€76,046
Depreciation
+€20,870
Stocks and contracts
-€485,787
Receivables within one year
-€5,861
Deferred charges and accrued income
-€110
Trade debts
-€17,387
Tax, wage and social debts
-€31,527
Investment (derived)
+€212,138
Investment in fixed assets (net)
+€212,138
Financing
+€366,380
Debts after one year
+€369,001
Current portion of long-term debt
-€2,621
Cash 2025
€10,420
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €413,902 | €655,321 | +€241,420 | +58.3% |
| Fixed assets | 21/28 | €281,291 | €48,283 | -€233,008 | -82.8% |
| Tangible fixed assets | 22/27 | €281,291 | €48,283 | -€233,008 | -82.8% |
| Plant, machinery and equipment | 23 | €739 | €2,137 | +€1,398 | +189% |
| Furniture and vehicles | 24 | €64,662 | €46,147 | -€18,516 | -28.6% |
| Other tangible fixed assets | 26 | €215,889 | - | -€215,889 | |
| Current assets | 29/58 | €132,611 | €607,038 | +€474,427 | +358% |
| Stocks and contracts in progress | 3 | €13,790 | €499,577 | +€485,787 | +3,523% |
| Stocks | 30/36 | €13,790 | €499,577 | +€485,787 | +3,523% |
| Amounts receivable within one year | 40/41 | €88,720 | €94,581 | +€5,861 | +6.6% |
| Trade receivables | 40 | €58,851 | €40,507 | -€18,344 | -31.2% |
| Other amounts receivable | 41 | €29,869 | €54,074 | +€24,205 | +81.0% |
| Cash at bank and in hand | 54/58 | €27,750 | €10,420 | -€17,330 | -62.5% |
| Deferred charges and accrued income | 490/1 | €2,350 | €2,460 | +€110 | +4.7% |
| Total equity and liabilities | 10/49 | €413,902 | €655,321 | +€241,420 | +58.3% |
| Equity | 10/15 | €42,705 | -€33,341 | -€76,046 | |
| Contributions | 10/11 | €6,250 | €6,250 | = | 0.0% |
| Reserves | 13 | €36,455 | €36,455 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €34,595 | €34,595 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€76,046 | -€76,046 | |
| Amounts payable | 17/49 | €371,197 | €688,663 | +€317,466 | +85.5% |
| Amounts payable after more than one year | 17 | €235,343 | €604,343 | +€369,001 | +157% |
| Financial debts | 170/4 | €235,343 | €604,343 | +€369,001 | +157% |
| Amounts payable within one year | 42/48 | €134,854 | €83,319 | -€51,535 | -38.2% |
| Current portion of amounts payable after more than one year | 42 | €16,757 | €14,137 | -€2,621 | -15.6% |
| Trade debts | 44 | €85,668 | €68,281 | -€17,387 | -20.3% |
| Suppliers | 440/4 | €85,668 | €68,281 | -€17,387 | -20.3% |
| Taxes, remuneration and social security | 45 | €32,428 | €901 | -€31,527 | -97.2% |
| Taxes | 450/3 | €18,268 | €901 | -€17,367 | -95.1% |
| Remuneration and social security | 454/9 | €14,160 | - | -€14,160 | |
| Accrued charges and deferred income | 492/3 | €1,000 | €1,000 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €176,772 | €166,613 | -€10,159 | -5.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,815 | €20,870 | -€14,945 | -41.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €15,840 | - | -€15,840 | |
| Other operating charges | 640/8 | €3,624 | €5,537 | +€1,913 | +52.8% |
| Gross operating margin | 9900 | €223,074 | €120,667 | -€102,407 | -45.9% |
| Operating profit (loss) | 9901 | -€8,977 | -€72,353 | -€63,376 | -706% |
| Financial income | 75/76B | €3,365 | €3,007 | -€357 | -10.6% |
| Recurring financial income | 75 | €3,365 | €3,007 | -€357 | -10.6% |
| Financial charges | 65/66B | €14,741 | €6,245 | -€8,496 | -57.6% |
| Recurring financial charges | 65 | €14,741 | €6,245 | -€8,496 | -57.6% |
| Profit (loss) for the period before taxes | 9903 | -€20,353 | -€75,590 | -€55,237 | -271% |
| Income taxes | 67/77 | €464 | €456 | -€8 | -1.8% |
| Profit (loss) for the period | 9904 | -€20,818 | -€76,046 | -€55,229 | -265% |
| Profit (loss) for the period to be appropriated | 9905 | -€20,818 | -€76,046 | -€55,229 | -265% |
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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 8 November 2026 via checked.be.