WIM VANDENBERGHE: 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.
WIM VANDENBERGHE
Largest movements
- Current investments +€181,252
up €181,252 (+22.6%), from €803,618 to €984,870
- Receivables within one year -€107,210
down €107,210 (-30.6%), from €350,581 to €243,371
of which Trade receivables: -€94,704
- Cash -€14,821
down €14,821 (-58.3%), from €25,424 to €10,603
mainly Current investments (-€181,252) and Tax, wage and social debts (-€23,544)
- Reserves +€84,874
up €84,874 (+8.3%), from €1.0m to €1.1m
- Tax, wage and social debts -€23,544
down €23,544 (-28.6%), from €82,323 to €58,779
- Gross operating margin -€79,912
down €79,912 (-44.6%), from €179,326 to €99,415
- Financial income +€38,677
up €38,677 (+193%), from €20,070 to €58,748
- Financial charges +€32,763
up €32,763 (+9,526%), from €344 to €33,106
- Taxes -€22,043
down €22,043 (-39.4%), from €55,933 to €33,890
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 | €1,215,067 | €1,275,756 | +€60,690 | +5.0% |
| Fixed assets | 21/28 | €8,608 | €9,849 | +€1,241 | +14.4% |
| Tangible fixed assets | 22/27 | €8,608 | €9,849 | +€1,241 | +14.4% |
| Plant, machinery and equipment | 23 | €2,825 | €849 | -€1,975 | -69.9% |
| Furniture and vehicles | 24 | €5,783 | €9,000 | +€3,217 | +55.6% |
| Current assets | 29/58 | €1,206,459 | €1,265,907 | +€59,448 | +4.9% |
| Amounts receivable after more than one year | 29 | €24,000 | €24,000 | = | 0.0% |
| Other amounts receivable | 291 | €24,000 | €24,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €350,581 | €243,371 | -€107,210 | -30.6% |
| Trade receivables | 40 | €311,049 | €216,346 | -€94,704 | -30.4% |
| Other amounts receivable | 41 | €39,532 | €27,025 | -€12,506 | -31.6% |
| Current investments | 50/53 | €803,618 | €984,870 | +€181,252 | +22.6% |
| Cash at bank and in hand | 54/58 | €25,424 | €10,603 | -€14,821 | -58.3% |
| Deferred charges and accrued income | 490/1 | €2,836 | €3,063 | +€227 | +8.0% |
| Total equity and liabilities | 10/49 | €1,215,067 | €1,275,756 | +€60,690 | +5.0% |
| Equity | 10/15 | €1,125,913 | €1,210,787 | +€84,874 | +7.5% |
| Contributions | 10/11 | €98,060 | €98,060 | = | 0.0% |
| Reserves | 13 | €1,026,821 | €1,111,695 | +€84,874 | +8.3% |
| Distributable reserves | 133 | €1,026,821 | €1,111,695 | +€84,874 | +8.3% |
| Profit (loss) carried forward | 14 | €1,032 | €1,032 | = | 0.0% |
| Amounts payable | 17/49 | €89,154 | €64,969 | -€24,184 | -27.1% |
| Amounts payable within one year | 42/48 | €89,154 | €64,969 | -€24,184 | -27.1% |
| Trade debts | 44 | €6,831 | €6,190 | -€641 | -9.4% |
| Suppliers | 440/4 | €6,831 | €6,190 | -€641 | -9.4% |
| Taxes, remuneration and social security | 45 | €82,323 | €58,779 | -€23,544 | -28.6% |
| Taxes | 450/3 | €82,323 | €58,779 | -€23,544 | -28.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,362 | €3,764 | +€402 | +11.9% |
| Other operating charges | 640/8 | €2,250 | €2,528 | +€278 | +12.4% |
| Gross operating margin | 9900 | €179,326 | €99,415 | -€79,912 | -44.6% |
| Operating profit (loss) | 9901 | €173,714 | €93,122 | -€80,592 | -46.4% |
| Financial income | 75/76B | €20,070 | €58,748 | +€38,677 | +193% |
| Recurring financial income | 75 | €20,070 | €58,748 | +€38,677 | +193% |
| Financial charges | 65/66B | €344 | €33,106 | +€32,763 | +9,526% |
| Recurring financial charges | 65 | €344 | €33,106 | +€32,763 | +9,526% |
| Profit (loss) for the period before taxes | 9903 | €193,440 | €118,764 | -€74,677 | -38.6% |
| Income taxes | 67/77 | €55,933 | €33,890 | -€22,043 | -39.4% |
| Profit (loss) for the period | 9904 | €137,508 | €84,874 | -€52,634 | -38.3% |
| Profit (loss) for the period to be appropriated | 9905 | €137,508 | €84,874 | -€52,634 | -38.3% |
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 27 October 2026 via checked.be.