Werner Oostvogels: 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.
Werner Oostvogels
Largest movements
- Receivables within one year +€76,901
up €76,901 (+2,093%), from €3,675 to €80,576
of which Trade receivables: +€78,258
- Cash +€35,149
up €35,149 (+21.0%), from €167,634 to €202,783
mainly Net result for the year (+€87,644) and Tax, wage and social debts (+€36,863)
- Tangible fixed assets -€3,828
down €3,828 (-44.7%), from €8,574 to €4,746
of which Leasing and similar rights: -€4,825
- Reserves +€87,644
up €87,644 (+66.9%), from €131,072 to €218,716
- Tax, wage and social debts +€36,863
up €36,863 (+3,308%), from €1,114 to €37,977
of which Taxes: +€33,863
- Trade debts -€7,374
down €7,374 (-90.2%), from €8,175 to €801
- Other debts -€4,408
down €4,408 (-15.6%), from €28,320 to €23,912
- Current portion of long-term debt -€3,393
down €3,393 (-74.7%), from €4,541 to €1,148
- Gross operating margin +€112,250
up €112,250 (+586%), from €19,156 to €131,406
- Taxes +€33,748
up €33,748 (+660%), from €5,114 to €38,863
- Financial income -€2,604
down €2,604 (-57.2%), from €4,555 to €1,952
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 | €180,570 | €288,754 | +€108,184 | +59.9% |
| Fixed assets | 21/28 | €8,574 | €4,746 | -€3,828 | -44.7% |
| Tangible fixed assets | 22/27 | €8,574 | €4,746 | -€3,828 | -44.7% |
| Furniture and vehicles | 24 | €2,560 | €3,556 | +€996 | +38.9% |
| Leasing and similar rights | 25 | €6,014 | €1,190 | -€4,825 | -80.2% |
| Current assets | 29/58 | €171,996 | €284,008 | +€112,012 | +65.1% |
| Amounts receivable within one year | 40/41 | €3,675 | €80,576 | +€76,901 | +2,093% |
| Trade receivables | 40 | €309 | €78,567 | +€78,258 | +25,329% |
| Other amounts receivable | 41 | €3,366 | €2,009 | -€1,357 | -40.3% |
| Cash at bank and in hand | 54/58 | €167,634 | €202,783 | +€35,149 | +21.0% |
| Deferred charges and accrued income | 490/1 | €687 | €649 | -€38 | -5.5% |
| Total equity and liabilities | 10/49 | €180,570 | €288,754 | +€108,184 | +59.9% |
| Equity | 10/15 | €137,272 | €224,916 | +€87,644 | +63.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €131,072 | €218,716 | +€87,644 | +66.9% |
| Distributable reserves | 133 | €131,072 | €218,716 | +€87,644 | +66.9% |
| Amounts payable | 17/49 | €43,299 | €63,838 | +€20,539 | +47.4% |
| Amounts payable after more than one year | 17 | €1,148 | - | -€1,148 | |
| Financial debts | 170/4 | €1,148 | - | -€1,148 | |
| Amounts payable within one year | 42/48 | €42,150 | €63,838 | +€21,688 | +51.5% |
| Current portion of amounts payable after more than one year | 42 | €4,541 | €1,148 | -€3,393 | -74.7% |
| Trade debts | 44 | €8,175 | €801 | -€7,374 | -90.2% |
| Suppliers | 440/4 | €8,175 | €801 | -€7,374 | -90.2% |
| Taxes, remuneration and social security | 45 | €1,114 | €37,977 | +€36,863 | +3,308% |
| Taxes | 450/3 | €114 | €33,977 | +€33,863 | +29,618% |
| Remuneration and social security | 454/9 | €1,000 | €4,000 | +€3,000 | +300% |
| Other amounts payable | 47/48 | €28,320 | €23,912 | -€4,408 | -15.6% |
| Non-recurring operating income | 76A | €7,240 | - | -€7,240 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,773 | €6,155 | +€382 | +6.6% |
| Other operating charges | 640/8 | €1,088 | €120 | -€968 | -89.0% |
| Gross operating margin | 9900 | €19,156 | €131,406 | +€112,250 | +586% |
| Operating profit (loss) | 9901 | €12,296 | €125,131 | +€112,835 | +918% |
| Financial income | 75/76B | €4,555 | €1,952 | -€2,604 | -57.2% |
| Recurring financial income | 75 | €4,555 | €1,952 | -€2,604 | -57.2% |
| Financial charges | 65/66B | €758 | €575 | -€182 | -24.1% |
| Recurring financial charges | 65 | €758 | €575 | -€182 | -24.1% |
| Profit (loss) for the period before taxes | 9903 | €16,093 | €126,507 | +€110,414 | +686% |
| Income taxes | 67/77 | €5,114 | €38,863 | +€33,748 | +660% |
| Profit (loss) for the period | 9904 | €10,979 | €87,644 | +€76,665 | +698% |
| Profit (loss) for the period to be appropriated | 9905 | €10,979 | €87,644 | +€76,665 | +698% |
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 31 October 2026 via checked.be.