VRS VAN EECKHOUT: 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.
VRS VAN EECKHOUT
Largest movements
- Tangible fixed assets -€127,023
down €127,023 (-27.1%), from €468,537 to €341,515
of which Plant, machinery and equipment: -€85,945
- Cash +€17,332
up €17,332 (+13.4%), from €129,374 to €146,706
mainly Depreciation (+€127,023) and Other debts (+€28,474)
- Stocks and contracts +€15,567
up €15,567 (+86.1%), from €18,087 to €33,654
- Receivables within one year +€7,437
up €7,437 (+7.4%), from €99,922 to €107,359
of which Trade receivables: +€4,842
- Debts after one year -€120,636
down €120,636 (-39.0%), from €309,379 to €188,743
- Other debts +€28,474
up €28,474 (+48.8%), from €58,290 to €86,764
- Trade debts +€23,349
up €23,349 (+74.0%), from €31,546 to €54,895
- Current portion of long-term debt -€10,714
down €10,714 (-8.2%), from €131,350 to €120,636
- Staff costs -€32,819
down €32,819 (-16.0%), from €204,790 to €171,971
- Gross operating margin -€12,502
down €12,502 (-3.9%), from €318,439 to €305,937
- Financial charges -€3,320
down €3,320 (-22.5%), from €14,752 to €11,432
of which Non-recurring financial charges: -€5,093
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €716,601 | €629,959 | -€86,641 | -12.1% |
| Fixed assets | 21/28 | €469,217 | €342,195 | -€127,023 | -27.1% |
| Tangible fixed assets | 22/27 | €468,537 | €341,515 | -€127,023 | -27.1% |
| Plant, machinery and equipment | 23 | €299,571 | €213,626 | -€85,945 | -28.7% |
| Furniture and vehicles | 24 | €168,967 | €127,888 | -€41,078 | -24.3% |
| Financial fixed assets | 28 | €680 | €680 | = | 0.0% |
| Current assets | 29/58 | €247,383 | €287,765 | +€40,382 | +16.3% |
| Stocks and contracts in progress | 3 | €18,087 | €33,654 | +€15,567 | +86.1% |
| Stocks | 30/36 | €18,087 | €33,654 | +€15,567 | +86.1% |
| Amounts receivable within one year | 40/41 | €99,922 | €107,359 | +€7,437 | +7.4% |
| Trade receivables | 40 | €95,985 | €100,826 | +€4,842 | +5.0% |
| Other amounts receivable | 41 | €3,937 | €6,533 | +€2,596 | +65.9% |
| Cash at bank and in hand | 54/58 | €129,374 | €146,706 | +€17,332 | +13.4% |
| Deferred charges and accrued income | 490/1 | - | €45 | +€45 | |
| Total equity and liabilities | 10/49 | €716,601 | €629,959 | -€86,641 | -12.1% |
| Equity | 10/15 | €177,805 | €170,755 | -€7,050 | -4.0% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €230,122 | €230,122 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €211,372 | €211,372 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€75,801 | -€81,899 | -€6,098 | -8.0% |
| Investment grants | 15 | €3,024 | €2,072 | -€952 | -31.5% |
| Amounts payable | 17/49 | €538,796 | €459,204 | -€79,591 | -14.8% |
| Amounts payable after more than one year | 17 | €309,379 | €188,743 | -€120,636 | -39.0% |
| Financial debts | 170/4 | €309,379 | €188,743 | -€120,636 | -39.0% |
| Amounts payable within one year | 42/48 | €229,415 | €270,460 | +€41,044 | +17.9% |
| Current portion of amounts payable after more than one year | 42 | €131,350 | €120,636 | -€10,714 | -8.2% |
| Trade debts | 44 | €31,546 | €54,895 | +€23,349 | +74.0% |
| Suppliers | 440/4 | €31,546 | €54,895 | +€23,349 | +74.0% |
| Taxes, remuneration and social security | 45 | €8,229 | €8,165 | -€65 | -0.8% |
| Taxes | 450/3 | €182 | €185 | +€4 | +2.1% |
| Remuneration and social security | 454/9 | €8,048 | €7,979 | -€68 | -0.8% |
| Other amounts payable | 47/48 | €58,290 | €86,764 | +€28,474 | +48.8% |
| Accrued charges and deferred income | 492/3 | €2 | €2 | = | 0.0% |
| Non-recurring operating income | 76A | €10,000 | - | -€10,000 | |
| Remuneration, social security and pensions | 62 | €204,790 | €171,971 | -€32,819 | -16.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €127,518 | €127,023 | -€495 | -0.4% |
| Other operating charges | 640/8 | €1,836 | €2,377 | +€541 | +29.5% |
| Gross operating margin | 9900 | €318,439 | €305,937 | -€12,502 | -3.9% |
| Operating profit (loss) | 9901 | -€15,705 | €4,566 | +€20,271 | |
| Financial income | 75/76B | €988 | €953 | -€35 | -3.6% |
| Recurring financial income | 75 | €988 | €953 | -€35 | -3.6% |
| Financial charges | 65/66B | €14,752 | €11,432 | -€3,320 | -22.5% |
| Recurring financial charges | 65 | €9,658 | €11,432 | +€1,773 | +18.4% |
| Non-recurring financial charges | 66B | €5,093 | - | -€5,093 | |
| Profit (loss) for the period before taxes | 9903 | -€29,468 | -€5,913 | +€23,555 | +79.9% |
| Income taxes | 67/77 | €182 | €185 | +€4 | +2.1% |
| Profit (loss) for the period | 9904 | -€29,650 | -€6,098 | +€23,552 | +79.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€29,650 | -€6,098 | +€23,552 | +79.4% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.