A.D.B. VANDEPUT: 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.
A.D.B. VANDEPUT
Largest movements
- Stocks and contracts -€18,583
down €18,583 (-59.1%), from €31,418 to €12,836
- Tangible fixed assets -€9,755
down €9,755 (-7.4%), from €131,597 to €121,842
of which Land and buildings: -€5,457
- Receivables within one year +€6,222
up €6,222 (+16.1%), from €38,578 to €44,799
- Deferred charges and accrued income -€3,399
no longer reported in 2025 (was €3,399)
- Current portion of long-term debt -€24,755
down €24,755 (-75.7%), from €32,690 to €7,935
- Trade debts +€22,940
up €22,940 (+110%), from €20,775 to €43,715
- Profit (loss) carried forward -€8,528
down €8,528 (-5.3%), from -€160,621 to -€169,149
- Debts after one year -€7,935
down €7,935 (-79.5%), from €9,977 to €2,042
- Short-term financial debts -€4,663
down €4,663 (-10.3%), from €45,081 to €40,418
- Gross operating margin +€38,099
up €38,099, from -€21,604 to €16,495
- Other operating charges +€6,187
up €6,187 (+673%), from €919 to €7,106
- Financial charges -€4,322
down €4,322 (-35.3%), from €12,245 to €7,924
- Staff costs -€738
no longer reported in 2025 (was €738)
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €205,294 | €179,780 | -€25,514 | -12.4% |
| Fixed assets | 21/28 | €131,900 | €122,145 | -€9,755 | -7.4% |
| Tangible fixed assets | 22/27 | €131,597 | €121,842 | -€9,755 | -7.4% |
| Land and buildings | 22 | €121,526 | €116,069 | -€5,457 | -4.5% |
| Plant, machinery and equipment | 23 | €1,216 | €524 | -€692 | -56.9% |
| Furniture and vehicles | 24 | €8,855 | €5,248 | -€3,607 | -40.7% |
| Financial fixed assets | 28 | €303 | €303 | = | 0.0% |
| Current assets | 29/58 | €73,394 | €57,635 | -€15,759 | -21.5% |
| Stocks and contracts in progress | 3 | €31,418 | €12,836 | -€18,583 | -59.1% |
| Stocks | 30/36 | €31,418 | €12,836 | -€18,583 | -59.1% |
| Amounts receivable within one year | 40/41 | €38,578 | €44,799 | +€6,222 | +16.1% |
| Trade receivables | 40 | €38,578 | €44,799 | +€6,222 | +16.1% |
| Deferred charges and accrued income | 490/1 | €3,399 | - | -€3,399 | |
| Total equity and liabilities | 10/49 | €205,294 | €179,780 | -€25,514 | -12.4% |
| Equity | 10/15 | €41,445 | €32,917 | -€8,528 | -20.6% |
| Contributions | 10/11 | €180,500 | €180,500 | = | 0.0% |
| Capital | 10 | €180,500 | €180,500 | = | 0.0% |
| Issued capital | 100 | €180,500 | €180,500 | = | 0.0% |
| Reserves | 13 | €21,566 | €21,566 | = | 0.0% |
| Non-distributable reserves | 130/1 | €21,566 | €21,566 | = | 0.0% |
| Legal reserve | 130 | €21,566 | €21,566 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€160,621 | -€169,149 | -€8,528 | -5.3% |
| Amounts payable | 17/49 | €163,849 | €146,863 | -€16,986 | -10.4% |
| Amounts payable after more than one year | 17 | €9,977 | €2,042 | -€7,935 | -79.5% |
| Financial debts | 170/4 | €9,977 | €2,042 | -€7,935 | -79.5% |
| Amounts payable within one year | 42/48 | €153,872 | €144,821 | -€9,051 | -5.9% |
| Current portion of amounts payable after more than one year | 42 | €32,690 | €7,935 | -€24,755 | -75.7% |
| Financial debts | 43 | €45,081 | €40,418 | -€4,663 | -10.3% |
| Credit institutions | 430/8 | €45,081 | €40,418 | -€4,663 | -10.3% |
| Trade debts | 44 | €20,775 | €43,715 | +€22,940 | +110% |
| Suppliers | 440/4 | €20,775 | €43,715 | +€22,940 | +110% |
| Taxes, remuneration and social security | 45 | €223 | €1,427 | +€1,204 | +539% |
| Taxes | 450/3 | €223 | €1,427 | +€1,204 | +539% |
| Other amounts payable | 47/48 | €55,102 | €51,326 | -€3,776 | -6.9% |
| Remuneration, social security and pensions | 62 | €738 | - | -€738 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,837 | €9,755 | -€82 | -0.8% |
| Other operating charges | 640/8 | €919 | €7,106 | +€6,187 | +673% |
| Gross operating margin | 9900 | -€21,604 | €16,495 | +€38,099 | |
| Operating profit (loss) | 9901 | -€33,098 | -€366 | +€32,732 | +98.9% |
| Financial charges | 65/66B | €12,245 | €7,924 | -€4,322 | -35.3% |
| Recurring financial charges | 65 | €12,245 | €7,924 | -€4,322 | -35.3% |
| Profit (loss) for the period before taxes | 9903 | -€45,343 | -€8,289 | +€37,054 | +81.7% |
| Income taxes | 67/77 | €200 | €239 | +€39 | +19.5% |
| Profit (loss) for the period | 9904 | -€45,543 | -€8,528 | +€37,015 | +81.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€45,543 | -€8,528 | +€37,015 | +81.3% |
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 30 October 2026 via checked.be.