DE MANDELVIJVER: what changed
DE MANDELVIJVER
Largest movements
- Tangible fixed assets +€19,902
up €19,902 (+37.7%), from €52,851 to €72,753
of which Furniture and vehicles: +€25,870
- Cash -€8,765
down €8,765 (-37.1%), from €23,650 to €14,885
mainly Investment in fixed assets (net) (-€35,317) and Current portion of long-term debt (-€5,271)
- Receivables within one year -€2,842
down €2,842 (-42.7%), from €6,654 to €3,812
of which Trade receivables: -€3,390
- Other debts +€18,389
up €18,389 (+8,971%), from €205 to €18,594
- Current portion of long-term debt -€5,271
down €5,271 (-73.9%), from €7,136 to €1,865
- Tax, wage and social debts -€4,876
down €4,876 (-56.0%), from €8,709 to €3,834
of which Taxes: -€4,876
- Reserves +€4,053
up €4,053 (+9.1%), from €44,600 to €48,653
- Debts after one year -€2,426
down €2,426 (-23.0%), from €10,560 to €8,135
- Staff costs +€1,626
up €1,626, from -€298 to €1,328
- Gross operating margin -€1,483
down €1,483 (-5.9%), from €25,063 to €23,580
- Depreciation +€1,079
up €1,079 (+7.5%), from €14,335 to €15,415
- Financial charges +€675
up €675 (+41.9%), from €1,612 to €2,286
- Other operating charges -€644
down €644 (-30.5%), from €2,110 to €1,466
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €93,758 | €102,046 | +€8,288 | +8.8% |
| Fixed assets | 21/28 | €52,851 | €72,753 | +€19,902 | +37.7% |
| Tangible fixed assets | 22/27 | €52,851 | €72,753 | +€19,902 | +37.7% |
| Land and buildings | 22 | €17,835 | €16,439 | -€1,397 | -7.8% |
| Plant, machinery and equipment | 23 | €32,592 | €28,020 | -€4,572 | -14.0% |
| Furniture and vehicles | 24 | €2,424 | €28,294 | +€25,870 | +1,067% |
| Current assets | 29/58 | €40,907 | €29,293 | -€11,614 | -28.4% |
| Stocks and contracts in progress | 3 | €10,603 | €9,901 | -€702 | -6.6% |
| Stocks | 30/36 | €10,603 | €9,901 | -€702 | -6.6% |
| Amounts receivable within one year | 40/41 | €6,654 | €3,812 | -€2,842 | -42.7% |
| Trade receivables | 40 | €3,547 | €156 | -€3,390 | -95.6% |
| Other amounts receivable | 41 | €3,107 | €3,656 | +€549 | +17.7% |
| Cash at bank and in hand | 54/58 | €23,650 | €14,885 | -€8,765 | -37.1% |
| Deferred charges and accrued income | 490/1 | - | €695 | +€695 | |
| Total equity and liabilities | 10/49 | €93,758 | €102,046 | +€8,288 | +8.8% |
| Equity | 10/15 | €63,200 | €67,253 | +€4,053 | +6.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €44,600 | €48,653 | +€4,053 | +9.1% |
| Distributable reserves | 133 | €44,600 | €48,653 | +€4,053 | +9.1% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €30,558 | €34,793 | +€4,234 | +13.9% |
| Amounts payable after more than one year | 17 | €10,560 | €8,135 | -€2,426 | -23.0% |
| Financial debts | 170/4 | €10,560 | €8,135 | -€2,426 | -23.0% |
| Amounts payable within one year | 42/48 | €19,998 | €26,658 | +€6,660 | +33.3% |
| Current portion of amounts payable after more than one year | 42 | €7,136 | €1,865 | -€5,271 | -73.9% |
| Trade debts | 44 | €3,948 | €2,365 | -€1,583 | -40.1% |
| Suppliers | 440/4 | €3,948 | €2,365 | -€1,583 | -40.1% |
| Taxes, remuneration and social security | 45 | €8,709 | €3,834 | -€4,876 | -56.0% |
| Taxes | 450/3 | €8,709 | €3,834 | -€4,876 | -56.0% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €205 | €18,594 | +€18,389 | +8,971% |
| Remuneration, social security and pensions | 62 | -€298 | €1,328 | +€1,626 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,335 | €15,415 | +€1,079 | +7.5% |
| Other operating charges | 640/8 | €2,110 | €1,466 | -€644 | -30.5% |
| Non-recurring operating charges | 66A | €73 | €48 | -€25 | -34.6% |
| Gross operating margin | 9900 | €25,063 | €23,580 | -€1,483 | -5.9% |
| Operating profit (loss) | 9901 | €8,843 | €5,323 | -€3,520 | -39.8% |
| Financial income | 75/76B | €724 | €1,082 | +€358 | +49.5% |
| Recurring financial income | 75 | €724 | €1,082 | +€358 | +49.5% |
| Financial charges | 65/66B | €1,612 | €2,286 | +€675 | +41.9% |
| Recurring financial charges | 65 | €1,612 | €2,286 | +€675 | +41.9% |
| Profit (loss) for the period before taxes | 9903 | €7,955 | €4,119 | -€3,837 | -48.2% |
| Income taxes | 67/77 | €1 | €65 | +€65 | +8,734% |
| Profit (loss) for the period | 9904 | €7,954 | €4,053 | -€3,901 | -49.0% |
| Profit (loss) for the period to be appropriated | 9905 | €7,954 | €4,053 | -€3,901 | -49.0% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.