VRANCKX DELCOBOSCH: 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.
VRANCKX DELCOBOSCH
Largest movements
- Current investments +€150,256
new in 2025: €150,256
- Cash -€113,300
down €113,300 (-19.3%), from €588,527 to €475,227
mainly Current investments (-€150,256) and Contributions, distributions and other (-€94,442)
- Stocks and contracts +€61,826
up €61,826 (+12.6%), from €491,253 to €553,079
- Tangible fixed assets -€55,513
down €55,513 (-3.6%), from €1.6m to €1.5m
of which Land and buildings: -€53,810
- Receivables within one year -€32,044
down €32,044 (-30.6%), from €104,575 to €72,531
of which Trade receivables: -€19,314
- Other debts +€73,379
up €73,379 (+19.8%), from €369,846 to €443,225
- Reserves +€49,262
up €49,262 (+3.3%), from €1.5m to €1.6m
- Tax, wage and social debts -€47,221
down €47,221 (-67.4%), from €70,037 to €22,816
of which Taxes: -€45,216
- Debts after one year -€42,857
down €42,857 (-54.5%), from €78,571 to €35,714
- Gross operating margin -€53,743
down €53,743 (-15.2%), from €353,665 to €299,922
- Staff costs -€15,953
down €15,953 (-27.0%), from €59,009 to €43,056
- Financial charges -€12,122
down €12,122 (-34.6%), from €35,048 to €22,927
- Financial income +€10,738
up €10,738 (+84.5%), from €12,705 to €23,443
- Taxes -€5,669
down €5,669 (-8.8%), from €64,116 to €58,447
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.
Cash bridge derived
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 | €2,849,485 | €2,865,890 | +€16,405 | +0.6% |
| Fixed assets | 21/28 | €1,572,659 | €1,518,032 | -€54,627 | -3.5% |
| Intangible fixed assets | 21 | €14,853 | €16,488 | +€1,636 | +11.0% |
| Tangible fixed assets | 22/27 | €1,557,056 | €1,501,544 | -€55,513 | -3.6% |
| Land and buildings | 22 | €1,553,573 | €1,499,763 | -€53,810 | -3.5% |
| Plant, machinery and equipment | 23 | €773 | €42 | -€731 | -94.5% |
| Furniture and vehicles | 24 | €2,710 | €1,739 | -€972 | -35.9% |
| Other tangible fixed assets | 26 | €0 | €0 | = | |
| Financial fixed assets | 28 | €750 | - | -€750 | |
| Current assets | 29/58 | €1,276,826 | €1,347,858 | +€71,032 | +5.6% |
| Stocks and contracts in progress | 3 | €491,253 | €553,079 | +€61,826 | +12.6% |
| Stocks | 30/36 | €491,253 | €553,079 | +€61,826 | +12.6% |
| Amounts receivable within one year | 40/41 | €104,575 | €72,531 | -€32,044 | -30.6% |
| Trade receivables | 40 | €55,886 | €36,572 | -€19,314 | -34.6% |
| Other amounts receivable | 41 | €48,688 | €35,959 | -€12,730 | -26.1% |
| Current investments | 50/53 | - | €150,256 | +€150,256 | |
| Cash at bank and in hand | 54/58 | €588,527 | €475,227 | -€113,300 | -19.3% |
| Deferred charges and accrued income | 490/1 | €92,471 | €96,765 | +€4,294 | +4.6% |
| Total equity and liabilities | 10/49 | €2,849,485 | €2,865,890 | +€16,405 | +0.6% |
| Equity | 10/15 | €2,090,685 | €2,114,947 | +€24,262 | +1.2% |
| Contributions | 10/11 | €187,893 | €187,893 | = | 0.0% |
| Revaluation surpluses | 12 | €400,000 | €375,000 | -€25,000 | -6.3% |
| Reserves | 13 | €1,502,792 | €1,552,054 | +€49,262 | +3.3% |
| Distributable reserves | 133 | €1,502,792 | €1,552,054 | +€49,262 | +3.3% |
| Amounts payable | 17/49 | €758,800 | €750,943 | -€7,857 | -1.0% |
| Amounts payable after more than one year | 17 | €78,571 | €35,714 | -€42,857 | -54.5% |
| Financial debts | 170/4 | €78,571 | €35,714 | -€42,857 | -54.5% |
| Amounts payable within one year | 42/48 | €675,748 | €710,888 | +€35,140 | +5.2% |
| Current portion of amounts payable after more than one year | 42 | €47,857 | €47,857 | = | 0.0% |
| Trade debts | 44 | €188,007 | €196,990 | +€8,982 | +4.8% |
| Suppliers | 440/4 | €188,007 | €196,990 | +€8,982 | +4.8% |
| Taxes, remuneration and social security | 45 | €70,037 | €22,816 | -€47,221 | -67.4% |
| Taxes | 450/3 | €64,201 | €18,984 | -€45,216 | -70.4% |
| Remuneration and social security | 454/9 | €5,837 | €3,831 | -€2,005 | -34.4% |
| Other amounts payable | 47/48 | €369,846 | €443,225 | +€73,379 | +19.8% |
| Accrued charges and deferred income | 492/3 | €4,481 | €4,341 | -€140 | -3.1% |
| Remuneration, social security and pensions | 62 | €59,009 | €43,056 | -€15,953 | -27.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,357 | €59,872 | +€2,515 | +4.4% |
| Other operating charges | 640/8 | €19,646 | €20,360 | +€714 | +3.6% |
| Gross operating margin | 9900 | €353,665 | €299,922 | -€53,743 | -15.2% |
| Operating profit (loss) | 9901 | €217,653 | €176,634 | -€41,019 | -18.8% |
| Financial income | 75/76B | €12,705 | €23,443 | +€10,738 | +84.5% |
| Recurring financial income | 75 | €12,705 | €23,443 | +€10,738 | +84.5% |
| Financial charges | 65/66B | €35,048 | €22,927 | -€12,122 | -34.6% |
| Recurring financial charges | 65 | €35,048 | €22,927 | -€12,122 | -34.6% |
| Profit (loss) for the period before taxes | 9903 | €195,310 | €177,151 | -€18,159 | -9.3% |
| Income taxes | 67/77 | €64,116 | €58,447 | -€5,669 | -8.8% |
| Profit (loss) for the period | 9904 | €131,194 | €118,704 | -€12,490 | -9.5% |
| Profit (loss) for the period to be appropriated | 9905 | €131,194 | €118,704 | -€12,490 | -9.5% |
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 10 October 2026 via checked.be.