Dr. Vandewalle E.: 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.
Dr. Vandewalle E.
Largest movements
- Cash +€64,133
up €64,133 (+78.8%), from €81,387 to €145,520
mainly Net result for the year (+€50,065) and Accrued charges and deferred income (+€5,000)
- Deferred charges and accrued income -€1,669
down €1,669 (-28.1%), from €5,940 to €4,270
- Reserves +€49,232
up €49,232 (+76.7%), from €64,180 to €113,412
- Accrued charges and deferred income +€5,000
new in 2025: €5,000
- Tax, wage and social debts +€4,647
up €4,647 (+26.8%), from €17,337 to €21,984
- Current portion of long-term debt +€1,685
new in 2025: €1,685
- Gross operating margin -€21,888
down €21,888 (-25.1%), from €87,218 to €65,330
- Taxes -€3,690
down €3,690 (-21.3%), from €17,337 to €13,647
- Depreciation -€3,168
down €3,168 (-74.0%), from €4,282 to €1,113
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 | €92,146 | €153,496 | +€61,350 | +66.6% |
| Fixed assets | 21/28 | €4,819 | €3,706 | -€1,113 | -23.1% |
| Tangible fixed assets | 22/27 | €4,819 | €3,706 | -€1,113 | -23.1% |
| Plant, machinery and equipment | 23 | €3,559 | €3,171 | -€388 | -10.9% |
| Furniture and vehicles | 24 | €1,260 | €535 | -€725 | -57.5% |
| Current assets | 29/58 | €87,327 | €149,790 | +€62,464 | +71.5% |
| Cash at bank and in hand | 54/58 | €81,387 | €145,520 | +€64,133 | +78.8% |
| Deferred charges and accrued income | 490/1 | €5,940 | €4,270 | -€1,669 | -28.1% |
| Total equity and liabilities | 10/49 | €92,146 | €153,496 | +€61,350 | +66.6% |
| Equity | 10/15 | €66,180 | €115,412 | +€49,232 | +74.4% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €64,180 | €113,412 | +€49,232 | +76.7% |
| Distributable reserves | 133 | €64,180 | €113,412 | +€49,232 | +76.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €25,966 | €38,084 | +€12,119 | +46.7% |
| Amounts payable within one year | 42/48 | €25,966 | €33,084 | +€7,119 | +27.4% |
| Current portion of amounts payable after more than one year | 42 | - | €1,685 | +€1,685 | |
| Trade debts | 44 | €1,140 | €1,445 | +€305 | +26.7% |
| Suppliers | 440/4 | €1,140 | €1,445 | +€305 | +26.7% |
| Taxes, remuneration and social security | 45 | €17,337 | €21,984 | +€4,647 | +26.8% |
| Taxes | 450/3 | €17,337 | €21,984 | +€4,647 | +26.8% |
| Other amounts payable | 47/48 | €7,488 | €7,971 | +€482 | +6.4% |
| Accrued charges and deferred income | 492/3 | - | €5,000 | +€5,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,282 | €1,113 | -€3,168 | -74.0% |
| Other operating charges | 640/8 | €421 | €427 | +€6 | +1.4% |
| Gross operating margin | 9900 | €87,218 | €65,330 | -€21,888 | -25.1% |
| Operating profit (loss) | 9901 | €82,515 | €63,790 | -€18,725 | -22.7% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €165 | €78 | -€87 | -52.5% |
| Recurring financial charges | 65 | €165 | €78 | -€87 | -52.5% |
| Profit (loss) for the period before taxes | 9903 | €82,350 | €63,711 | -€18,639 | -22.6% |
| Income taxes | 67/77 | €17,337 | €13,647 | -€3,690 | -21.3% |
| Profit (loss) for the period | 9904 | €65,013 | €50,065 | -€14,949 | -23.0% |
| Profit (loss) for the period to be appropriated | 9905 | €65,013 | €50,065 | -€14,949 | -23.0% |
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.