D. VANDESTEENE: 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.
D. VANDESTEENE
Largest movements
- Tangible fixed assets -€26,401
down €26,401 (-24.3%), from €108,862 to €82,461
of which Furniture and vehicles: -€21,431
- Receivables within one year +€26,108
up €26,108 (+139%), from €18,763 to €44,870
of which Trade receivables: +€25,390
- Cash +€16,055
up €16,055 (+412%), from €3,901 to €19,956
mainly Trade debts (+€28,926) and Depreciation (+€28,592)
- Deferred charges and accrued income +€10,777
up €10,777 (+328%), from €3,289 to €14,067
- Stocks and contracts +€2,985
up €2,985 (+38.1%), from €7,840 to €10,825
- Trade debts +€28,926
up €28,926 (+187%), from €15,438 to €44,363
- Profit (loss) carried forward +€11,024
up €11,024, from -€11,024 to €0
- Tax, wage and social debts -€7,563
down €7,563 (-31.6%), from €23,932 to €16,370
of which Remuneration and social security: -€6,890
- Debts after one year -€6,602
down €6,602 (-50.6%), from €13,043 to €6,441
- Reserves +€2,788
up €2,788 (+12.7%), from €21,982 to €24,770
- Gross operating margin +€19,119
up €19,119 (+11.1%), from €172,488 to €191,608
- Staff costs +€8,287
up €8,287 (+6.1%), from €135,006 to €143,293
- Depreciation -€6,400
down €6,400 (-18.3%), from €34,993 to €28,592
- Write-downs -€5,935
down €5,935 (-100%), from €5,935 to €0
- Other operating charges -€3,878
down €3,878 (-68.6%), from €5,652 to €1,774
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 | €142,985 | €172,309 | +€29,323 | +20.5% |
| Fixed assets | 21/28 | €109,193 | €82,591 | -€26,601 | -24.4% |
| Intangible fixed assets | 21 | €330 | €130 | -€200 | -60.6% |
| Tangible fixed assets | 22/27 | €108,862 | €82,461 | -€26,401 | -24.3% |
| Plant, machinery and equipment | 23 | €2,007 | €2,099 | +€92 | +4.6% |
| Furniture and vehicles | 24 | €82,683 | €61,252 | -€21,431 | -25.9% |
| Leasing and similar rights | 25 | €24,172 | €19,110 | -€5,063 | -20.9% |
| Current assets | 29/58 | €33,793 | €89,717 | +€55,925 | +165% |
| Stocks and contracts in progress | 3 | €7,840 | €10,825 | +€2,985 | +38.1% |
| Stocks | 30/36 | €7,840 | €10,825 | +€2,985 | +38.1% |
| Amounts receivable within one year | 40/41 | €18,763 | €44,870 | +€26,108 | +139% |
| Trade receivables | 40 | €11,865 | €37,255 | +€25,390 | +214% |
| Other amounts receivable | 41 | €6,898 | €7,615 | +€717 | +10.4% |
| Cash at bank and in hand | 54/58 | €3,901 | €19,956 | +€16,055 | +412% |
| Deferred charges and accrued income | 490/1 | €3,289 | €14,067 | +€10,777 | +328% |
| Total equity and liabilities | 10/49 | €142,985 | €172,309 | +€29,323 | +20.5% |
| Equity | 10/15 | €13,958 | €27,770 | +€13,812 | +99.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €21,982 | €24,770 | +€2,788 | +12.7% |
| Distributable reserves | 133 | €21,982 | €24,770 | +€2,788 | +12.7% |
| Profit (loss) carried forward | 14 | -€11,024 | €0 | +€11,024 | |
| Amounts payable | 17/49 | €129,028 | €144,539 | +€15,511 | +12.0% |
| Amounts payable after more than one year | 17 | €13,043 | €6,441 | -€6,602 | -50.6% |
| Financial debts | 170/4 | €13,043 | €6,441 | -€6,602 | -50.6% |
| Amounts payable within one year | 42/48 | €115,729 | €138,098 | +€22,369 | +19.3% |
| Current portion of amounts payable after more than one year | 42 | €6,277 | €6,602 | +€325 | +5.2% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €15,438 | €44,363 | +€28,926 | +187% |
| Suppliers | 440/4 | €15,438 | €44,363 | +€28,926 | +187% |
| Taxes, remuneration and social security | 45 | €23,932 | €16,370 | -€7,563 | -31.6% |
| Taxes | 450/3 | €10,408 | €9,736 | -€673 | -6.5% |
| Remuneration and social security | 454/9 | €13,524 | €6,634 | -€6,890 | -50.9% |
| Other amounts payable | 47/48 | €70,082 | €70,763 | +€681 | +1.0% |
| Accrued charges and deferred income | 492/3 | €255 | €0 | -€255 | -100% |
| Non-recurring operating income | 76A | €0 | €150 | +€150 | |
| Remuneration, social security and pensions | 62 | €135,006 | €143,293 | +€8,287 | +6.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,993 | €28,592 | -€6,400 | -18.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €5,935 | €0 | -€5,935 | -100% |
| Other operating charges | 640/8 | €5,652 | €1,774 | -€3,878 | -68.6% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €172,488 | €191,608 | +€19,119 | +11.1% |
| Operating profit (loss) | 9901 | -€9,097 | €17,948 | +€27,046 | |
| Financial income | 75/76B | €0 | €30 | +€29 | +6,129% |
| Recurring financial income | 75 | €0 | €30 | +€29 | +6,129% |
| Financial charges | 65/66B | €1,769 | €2,256 | +€487 | +27.6% |
| Recurring financial charges | 65 | €1,769 | €2,256 | +€487 | +27.6% |
| Profit (loss) for the period before taxes | 9903 | -€10,866 | €15,722 | +€26,588 | |
| Income taxes | 67/77 | €159 | €1,910 | +€1,751 | +1,103% |
| Profit (loss) for the period | 9904 | -€11,024 | €13,812 | +€24,836 | |
| Profit (loss) for the period to be appropriated | 9905 | -€11,024 | €13,812 | +€24,836 |
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.