What changed?
Two fiscal 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.
VAN BELLE J.
Largest movements
- Tangible fixed assets -€17,365
down €17,365 (-4.2%), from €417,758 to €400,393
- Cash +€14,938
up €14,938 (+41.5%), from €35,978 to €50,916
mainly Depreciation (+€17,364) and Investment in fixed assets (net) (+€1)
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin +€813
up €813 (+4.7%), from €17,446 to €18,259
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 | €453,860 | €451,433 | -€2,427 | -0.5% |
| Fixed assets | 21/28 | €417,882 | €400,517 | -€17,365 | -4.2% |
| Tangible fixed assets | 22/27 | €417,758 | €400,393 | -€17,365 | -4.2% |
| Land and buildings | 22 | €417,758 | €400,393 | -€17,365 | -4.2% |
| Financial fixed assets | 28 | €124 | €124 | = | 0.0% |
| Current assets | 29/58 | €35,978 | €50,916 | +€14,938 | +41.5% |
| Cash at bank and in hand | 54/58 | €35,978 | €50,916 | +€14,938 | +41.5% |
| Total equity and liabilities | 10/49 | €453,860 | €451,433 | -€2,427 | -0.5% |
| Equity | 10/15 | €314,025 | €313,669 | -€356 | -0.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Capital | 10 | - | €18,592 | +€18,592 | |
| Issued capital | 100 | - | €18,592 | +€18,592 | |
| Reserves | 13 | €59,779 | €56,896 | -€2,883 | -4.8% |
| Tax-exempt reserves | 132 | €59,779 | €56,896 | -€2,883 | -4.8% |
| Profit (loss) carried forward | 14 | €235,654 | €238,181 | +€2,527 | +1.1% |
| Provisions and deferred taxes | 16 | €30,795 | €29,309 | -€1,486 | -4.8% |
| Deferred taxes | 168 | €30,795 | €29,309 | -€1,486 | -4.8% |
| Amounts payable | 17/49 | €109,040 | €108,455 | -€585 | -0.5% |
| Amounts payable within one year | 42/48 | €109,040 | €108,455 | -€585 | -0.5% |
| Other amounts payable | 47/48 | €109,040 | €108,455 | -€585 | -0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,364 | €17,364 | = | 0.0% |
| Other operating charges | 640/8 | €2,609 | €2,691 | +€82 | +3.1% |
| Gross operating margin | 9900 | €17,446 | €18,259 | +€813 | +4.7% |
| Operating profit (loss) | 9901 | -€2,527 | -€1,796 | +€731 | +28.9% |
| Financial charges | 65/66B | €40 | €45 | +€5 | +12.5% |
| Recurring financial charges | 65 | €40 | €45 | +€5 | +12.5% |
| Profit (loss) for the period before taxes | 9903 | -€2,567 | -€1,841 | +€726 | +28.3% |
| Transfer from deferred taxes | 780 | €1,485 | €1,485 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€1,082 | -€356 | +€726 | +67.1% |
| Transfer from tax-exempt reserves | 789 | €2,883 | €2,883 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €1,801 | €2,527 | +€726 | +40.3% |
Source: filed annual accounts (NBB), fiscal 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 September 2026 via checked.be.