VRANKEN Kevin: what changed
VRANKEN Kevin
Largest movements
- Receivables within one year -€23,278
down €23,278 (-48.9%), from €47,572 to €24,295
of which Other amounts receivable: -€14,084
- Tangible fixed assets -€15,067
down €15,067 (-26.0%), from €57,956 to €42,888
of which Leasing and similar rights: -€13,802
- Cash +€13,517
up €13,517 (+56.3%), from €24,012 to €37,529
mainly Receivables within one year (+€23,278) and Depreciation (+€17,420)
- Deferred charges and accrued income -€6,146
down €6,146 (-70.7%), from €8,698 to €2,553
- Stocks and contracts -€6,134
down €6,134 (-30.3%), from €20,239 to €14,105
of which Contracts in progress: -€4,232
- Current portion of long-term debt -€16,174
down €16,174 (-61.0%), from €26,520 to €10,346
- Debts after one year -€11,267
down €11,267 (-40.2%), from €28,035 to €16,768
- Tax, wage and social debts -€8,083
down €8,083 (-96.5%), from €8,374 to €291
of which Remuneration and social security: -€7,028
- Trade debts -€4,085
down €4,085 (-23.4%), from €17,451 to €13,366
- Reserves +€1,925
up €1,925 (+2.7%), from €70,832 to €72,757
of which Distributable reserves: +€1,925
- Staff costs -€18,201
down €18,201 (-64.0%), from €28,441 to €10,239
- Gross operating margin -€17,327
down €17,327 (-31.5%), from €55,041 to €37,714
- Depreciation -€2,445
down €2,445 (-12.3%), from €19,865 to €17,420
- Taxes +€780
up €780 (+31.8%), from €2,451 to €3,232
- Financial charges -€729
down €729 (-22.7%), from €3,208 to €2,479
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 | €158,552 | €121,444 | -€37,108 | -23.4% |
| Fixed assets | 21/28 | €57,956 | €42,888 | -€15,067 | -26.0% |
| Tangible fixed assets | 22/27 | €57,956 | €42,888 | -€15,067 | -26.0% |
| Plant, machinery and equipment | 23 | €1,570 | €1,156 | -€414 | -26.4% |
| Furniture and vehicles | 24 | €3,711 | €4,206 | +€495 | +13.3% |
| Leasing and similar rights | 25 | €40,614 | €26,812 | -€13,802 | -34.0% |
| Other tangible fixed assets | 26 | €12,062 | €10,714 | -€1,347 | -11.2% |
| Current assets | 29/58 | €100,597 | €78,556 | -€22,041 | -21.9% |
| Amounts receivable after more than one year | 29 | €75 | €75 | = | 0.0% |
| Trade receivables | 290 | €75 | €75 | = | 0.0% |
| Stocks and contracts in progress | 3 | €20,239 | €14,105 | -€6,134 | -30.3% |
| Stocks | 30/36 | €16,007 | €14,105 | -€1,902 | -11.9% |
| Contracts in progress | 37 | €4,232 | - | -€4,232 | |
| Amounts receivable within one year | 40/41 | €47,572 | €24,295 | -€23,278 | -48.9% |
| Trade receivables | 40 | €24,360 | €15,166 | -€9,194 | -37.7% |
| Other amounts receivable | 41 | €23,212 | €9,129 | -€14,084 | -60.7% |
| Cash at bank and in hand | 54/58 | €24,012 | €37,529 | +€13,517 | +56.3% |
| Deferred charges and accrued income | 490/1 | €8,698 | €2,553 | -€6,146 | -70.7% |
| Total equity and liabilities | 10/49 | €158,552 | €121,444 | -€37,108 | -23.4% |
| Equity | 10/15 | €77,832 | €79,757 | +€1,925 | +2.5% |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Reserves | 13 | €70,832 | €72,757 | +€1,925 | +2.7% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €68,832 | €70,757 | +€1,925 | +2.8% |
| Amounts payable | 17/49 | €80,720 | €41,688 | -€39,033 | -48.4% |
| Amounts payable after more than one year | 17 | €28,035 | €16,768 | -€11,267 | -40.2% |
| Financial debts | 170/4 | €28,035 | €16,768 | -€11,267 | -40.2% |
| Amounts payable within one year | 42/48 | €52,685 | €24,919 | -€27,765 | -52.7% |
| Current portion of amounts payable after more than one year | 42 | €26,520 | €10,346 | -€16,174 | -61.0% |
| Trade debts | 44 | €17,451 | €13,366 | -€4,085 | -23.4% |
| Suppliers | 440/4 | €17,451 | €13,366 | -€4,085 | -23.4% |
| Advances received on contracts in progress | 46 | €340 | €85 | -€256 | -75.1% |
| Taxes, remuneration and social security | 45 | €8,374 | €291 | -€8,083 | -96.5% |
| Taxes | 450/3 | €1,346 | €291 | -€1,055 | -78.4% |
| Remuneration and social security | 454/9 | €7,028 | - | -€7,028 | |
| Other amounts payable | 47/48 | - | €833 | +€833 | |
| Remuneration, social security and pensions | 62 | €28,441 | €10,239 | -€18,201 | -64.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,865 | €17,420 | -€2,445 | -12.3% |
| Other operating charges | 640/8 | €1,123 | €1,668 | +€545 | +48.6% |
| Gross operating margin | 9900 | €55,041 | €37,714 | -€17,327 | -31.5% |
| Operating profit (loss) | 9901 | €5,613 | €8,387 | +€2,774 | +49.4% |
| Financial income | 75/76B | €111 | €80 | -€31 | -27.6% |
| Recurring financial income | 75 | €111 | €80 | -€31 | -27.6% |
| Financial charges | 65/66B | €3,208 | €2,479 | -€729 | -22.7% |
| Recurring financial charges | 65 | €3,208 | €2,479 | -€729 | -22.7% |
| Profit (loss) for the period before taxes | 9903 | €2,516 | €5,989 | +€3,473 | +138% |
| Income taxes | 67/77 | €2,451 | €3,232 | +€780 | +31.8% |
| Profit (loss) for the period | 9904 | €65 | €2,758 | +€2,692 | +4,129% |
| Profit (loss) for the period to be appropriated | 9905 | €65 | €2,758 | +€2,692 | +4,129% |
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 6 November 2026 via checked.be.