DR. VANDUREN: what changed
DR. VANDUREN
Largest movements
- Cash +€9,175
up €9,175 (+18.3%), from €50,112 to €59,287
mainly Depreciation (+€11,920) and Other debts (+€7,105)
- Tangible fixed assets -€8,497
down €8,497 (-22.4%), from €37,856 to €29,359
of which Land and buildings: -€4,259
- Receivables within one year -€4,415
down €4,415 (-53.8%), from €8,202 to €3,787
- Tax, wage and social debts -€11,487
no longer reported in 2025 (was €11,487)
of which Taxes: -€6,587
- Other debts +€7,105
new in 2025: €7,105
- Reserves +€1,320
up €1,320 (+2.1%), from €63,445 to €64,764
of which Distributable reserves: +€1,320
- Gross operating margin -€2,378
down €2,378 (-13.9%), from €17,146 to €14,768
- Financial income -€1,065
no longer reported in 2025 (was €1,065)
- Taxes -€805
down €805 (-45.7%), from €1,759 to €954
- Depreciation -€514
down €514 (-4.1%), from €12,434 to €11,920
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 | €96,170 | €92,464 | -€3,705 | -3.9% |
| Fixed assets | 21/28 | €37,856 | €29,359 | -€8,497 | -22.4% |
| Tangible fixed assets | 22/27 | €37,856 | €29,359 | -€8,497 | -22.4% |
| Land and buildings | 22 | €19,515 | €15,256 | -€4,259 | -21.8% |
| Plant, machinery and equipment | 23 | €3,341 | €2,415 | -€926 | -27.7% |
| Furniture and vehicles | 24 | €15,000 | €11,688 | -€3,312 | -22.1% |
| Current assets | 29/58 | €58,314 | €63,106 | +€4,792 | +8.2% |
| Amounts receivable within one year | 40/41 | €8,202 | €3,787 | -€4,415 | -53.8% |
| Other amounts receivable | 41 | €8,202 | €3,787 | -€4,415 | -53.8% |
| Cash at bank and in hand | 54/58 | €50,112 | €59,287 | +€9,175 | +18.3% |
| Deferred charges and accrued income | 490/1 | - | €32 | +€32 | |
| Total equity and liabilities | 10/49 | €96,170 | €92,464 | -€3,705 | -3.9% |
| Equity | 10/15 | €82,045 | €83,364 | +€1,320 | +1.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €63,445 | €64,764 | +€1,320 | +2.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €61,585 | €62,904 | +€1,320 | +2.1% |
| Amounts payable | 17/49 | €14,125 | €9,100 | -€5,025 | -35.6% |
| Amounts payable within one year | 42/48 | €14,125 | €9,100 | -€5,025 | -35.6% |
| Trade debts | 44 | €2,638 | €1,995 | -€643 | -24.4% |
| Suppliers | 440/4 | €2,638 | €1,995 | -€643 | -24.4% |
| Taxes, remuneration and social security | 45 | €11,487 | - | -€11,487 | |
| Taxes | 450/3 | €6,587 | - | -€6,587 | |
| Remuneration and social security | 454/9 | €4,900 | - | -€4,900 | |
| Other amounts payable | 47/48 | - | €7,105 | +€7,105 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,434 | €11,920 | -€514 | -4.1% |
| Other operating charges | 640/8 | €449 | €462 | +€12 | +2.8% |
| Gross operating margin | 9900 | €17,146 | €14,768 | -€2,378 | -13.9% |
| Operating profit (loss) | 9901 | €4,263 | €2,386 | -€1,877 | -44.0% |
| Financial income | 75/76B | €1,065 | - | -€1,065 | |
| Recurring financial income | 75 | €1,065 | - | -€1,065 | |
| Financial charges | 65/66B | €136 | €112 | -€24 | -17.4% |
| Recurring financial charges | 65 | €136 | €112 | -€24 | -17.4% |
| Profit (loss) for the period before taxes | 9903 | €5,192 | €2,274 | -€2,918 | -56.2% |
| Income taxes | 67/77 | €1,759 | €954 | -€805 | -45.7% |
| Profit (loss) for the period | 9904 | €3,433 | €1,320 | -€2,114 | -61.6% |
| Profit (loss) for the period to be appropriated | 9905 | €3,433 | €1,320 | -€2,114 | -61.6% |
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 8 November 2026 via checked.be.