Dr Vander Velde: 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.
Dr Vander Velde
Largest movements
- Cash +€57,267
up €57,267 (+5850.8%), from €979 to €58,245
mainly Other debts (+€92,358) and Trade debts (+€25,464)
- Receivables within one year +€21,540
up €21,540 (+27.0%), from €79,782 to €101,322
of which Trade receivables: +€31,040
- Tangible fixed assets -€8,176
down €8,176 (-91.3%), from €8,959 to €783
- Deferred charges and accrued income -€3,061
no longer reported in 2025 (was €3,061)
- Other debts +€92,358
up €92,358 (+244.5%), from €37,775 to €130,133
- Profit (loss) carried forward -€48,334
down €48,334 (-99.9%), from €48,405 to €71
- Trade debts +€25,464
up €25,464 (+759.8%), from €3,351 to €28,815
- Short-term financial debts -€2,413
no longer reported in 2025 (was €2,413)
- Tax, wage and social debts -€1,787
no longer reported in 2025 (was €1,787)
- Financial charges +€79,136
up €79,136 (+3485.8%), from €2,270 to €81,406
of which Non-recurring financial charges: +€80,923
- Gross operating margin +€54,936
up €54,936, from -€3,382 to €51,554
- Taxes +€10,148
up €10,148 (+15467.0%), from €66 to €10,214
- Depreciation -€676
down €676 (-7.6%), from €8,851 to €8,176
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 | €98,731 | €165,301 | +€66,570 | +67.4% |
| Fixed assets | 21/28 | €14,909 | €5,733 | -€9,176 | -61.5% |
| Tangible fixed assets | 22/27 | €8,959 | €783 | -€8,176 | -91.3% |
| Furniture and vehicles | 24 | €8,959 | €783 | -€8,176 | -91.3% |
| Financial fixed assets | 28 | €5,950 | €4,950 | -€1,000 | -16.8% |
| Current assets | 29/58 | €83,822 | €159,567 | +€75,746 | +90.4% |
| Amounts receivable within one year | 40/41 | €79,782 | €101,322 | +€21,540 | +27.0% |
| Trade receivables | 40 | €60,282 | €91,322 | +€31,040 | +51.5% |
| Other amounts receivable | 41 | €19,500 | €10,000 | -€9,500 | -48.7% |
| Cash at bank and in hand | 54/58 | €979 | €58,245 | +€57,267 | +5850.8% |
| Deferred charges and accrued income | 490/1 | €3,061 | - | -€3,061 | |
| Total equity and liabilities | 10/49 | €98,731 | €165,301 | +€66,570 | +67.4% |
| Equity | 10/15 | €53,405 | €5,071 | -€48,334 | -90.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €48,405 | €71 | -€48,334 | -99.9% |
| Amounts payable | 17/49 | €45,326 | €160,230 | +€114,905 | +253.5% |
| Amounts payable within one year | 42/48 | €45,326 | €158,948 | +€113,623 | +250.7% |
| Financial debts | 43 | €2,413 | - | -€2,413 | |
| Credit institutions | 430/8 | €2,413 | - | -€2,413 | |
| Trade debts | 44 | €3,351 | €28,815 | +€25,464 | +759.8% |
| Suppliers | 440/4 | €3,351 | €28,815 | +€25,464 | +759.8% |
| Taxes, remuneration and social security | 45 | €1,787 | - | -€1,787 | |
| Taxes | 450/3 | €1,787 | - | -€1,787 | |
| Other amounts payable | 47/48 | €37,775 | €130,133 | +€92,358 | +244.5% |
| Accrued charges and deferred income | 492/3 | - | €1,282 | +€1,282 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,851 | €8,176 | -€676 | -7.6% |
| Other operating charges | 640/8 | €384 | €93 | -€291 | -75.7% |
| Gross operating margin | 9900 | -€3,382 | €51,554 | +€54,936 | |
| Operating profit (loss) | 9901 | -€12,618 | €43,285 | +€55,903 | |
| Financial income | 75/76B | €271 | €0 | -€271 | -100.0% |
| Recurring financial income | 75 | €271 | €0 | -€271 | -100.0% |
| Financial charges | 65/66B | €2,270 | €81,406 | +€79,136 | +3485.8% |
| Recurring financial charges | 65 | €2,270 | €484 | -€1,787 | -78.7% |
| Non-recurring financial charges | 66B | - | €80,923 | +€80,923 | |
| Profit (loss) for the period before taxes | 9903 | -€14,617 | -€38,121 | -€23,504 | -160.8% |
| Income taxes | 67/77 | €66 | €10,214 | +€10,148 | +15467.0% |
| Profit (loss) for the period | 9904 | -€14,682 | -€48,334 | -€33,652 | -229.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,682 | -€48,334 | -€33,652 | -229.2% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.