ALBERT VANDEMBER: 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.
ALBERT VANDEMBER
Largest movements
- Cash -€29,088
down €29,088 (-16.2%), from €180,060 to €150,971
mainly Contributions, distributions and other (-€28,585) and Investment in fixed assets (net) (-€11,133)
- Receivables within one year +€5,515
up €5,515 (+38.4%), from €14,358 to €19,874
of which Other amounts receivable: +€6,096
- Tangible fixed assets +€4,361
up €4,361 (+5.6%), from €78,231 to €82,593
of which Land and buildings: +€4,746
- Deferred charges and accrued income +€3,421
up €3,421 (+130%), from €2,633 to €6,055
- Reserves -€14,012
down €14,012 (-7.1%), from €196,347 to €182,335
of which Distributable reserves: -€14,012
- Gross operating margin -€11,173
down €11,173 (-24.1%), from €46,424 to €35,251
- Taxes -€3,808
down €3,808 (-27.4%), from €13,887 to €10,080
- Other operating charges +€826
up €826 (+31.1%), from €2,656 to €3,482
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 | €277,501 | €260,959 | -€16,543 | -6.0% |
| Fixed assets | 21/28 | €78,231 | €82,593 | +€4,361 | +5.6% |
| Tangible fixed assets | 22/27 | €78,231 | €82,593 | +€4,361 | +5.6% |
| Land and buildings | 22 | €69,979 | €74,725 | +€4,746 | +6.8% |
| Plant, machinery and equipment | 23 | €1,388 | €3,779 | +€2,392 | +172% |
| Furniture and vehicles | 24 | €6,864 | €4,088 | -€2,777 | -40.4% |
| Current assets | 29/58 | €199,270 | €178,366 | -€20,904 | -10.5% |
| Stocks and contracts in progress | 3 | €2,218 | €1,467 | -€752 | -33.9% |
| Stocks | 30/36 | €2,218 | €1,467 | -€752 | -33.9% |
| Amounts receivable within one year | 40/41 | €14,358 | €19,874 | +€5,515 | +38.4% |
| Trade receivables | 40 | €3,473 | €2,892 | -€581 | -16.7% |
| Other amounts receivable | 41 | €10,886 | €16,982 | +€6,096 | +56.0% |
| Cash at bank and in hand | 54/58 | €180,060 | €150,971 | -€29,088 | -16.2% |
| Deferred charges and accrued income | 490/1 | €2,633 | €6,055 | +€3,421 | +130% |
| Total equity and liabilities | 10/49 | €277,501 | €260,959 | -€16,543 | -6.0% |
| Equity | 10/15 | €208,747 | €194,735 | -€14,012 | -6.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €196,347 | €182,335 | -€14,012 | -7.1% |
| Tax-exempt reserves | 132 | €20,000 | €20,000 | = | 0.0% |
| Distributable reserves | 133 | €176,347 | €162,335 | -€14,012 | -7.9% |
| Amounts payable | 17/49 | €68,754 | €66,224 | -€2,530 | -3.7% |
| Amounts payable within one year | 42/48 | €68,754 | €66,224 | -€2,530 | -3.7% |
| Trade debts | 44 | €101 | €834 | +€733 | +728% |
| Suppliers | 440/4 | €101 | €834 | +€733 | +728% |
| Taxes, remuneration and social security | 45 | €7,817 | €5,391 | -€2,426 | -31.0% |
| Taxes | 450/3 | €7,817 | €5,391 | -€2,426 | -31.0% |
| Other amounts payable | 47/48 | €60,836 | €59,999 | -€837 | -1.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,992 | €6,772 | -€220 | -3.1% |
| Other operating charges | 640/8 | €2,656 | €3,482 | +€826 | +31.1% |
| Gross operating margin | 9900 | €46,424 | €35,251 | -€11,173 | -24.1% |
| Operating profit (loss) | 9901 | €36,777 | €24,997 | -€11,779 | -32.0% |
| Financial income | 75/76B | €55 | €214 | +€159 | +292% |
| Recurring financial income | 75 | €55 | €214 | +€159 | +292% |
| Financial charges | 65/66B | €736 | €559 | -€177 | -24.1% |
| Recurring financial charges | 65 | €736 | €559 | -€177 | -24.1% |
| Profit (loss) for the period before taxes | 9903 | €36,095 | €24,652 | -€11,443 | -31.7% |
| Income taxes | 67/77 | €13,887 | €10,080 | -€3,808 | -27.4% |
| Profit (loss) for the period | 9904 | €22,207 | €14,573 | -€7,635 | -34.4% |
| Profit (loss) for the period to be appropriated | 9905 | €22,207 | €14,573 | -€7,635 | -34.4% |
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 23 October 2026 via checked.be.