DUFRANE - VANDESMAL: 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.
DUFRANE - VANDESMAL
Largest movements
- Tangible fixed assets -€44,601
down €44,601 (-5.4%), from €825,756 to €781,155
of which Land and buildings: -€56,225
- Cash +€20,850
new in 2025: €20,850
mainly Depreciation (+€57,527) and Net result for the year (+€34,215)
- Deferred charges and accrued income -€13,579
down €13,579 (-97.5%), from €13,935 to €355
- Debts after one year -€77,877
down €77,877 (-12.6%), from €619,088 to €541,211
of which Financial debts: -€76,677
- Reserves +€34,215
up €34,215 (+823%), from €4,159 to €38,375
of which Tax-exempt reserves: +€34,215
- Turnover +€17,524
up €17,524 (+4.8%), from €362,236 to €379,759
- Other operating charges +€15,345
up €15,345 (+74.2%), from €20,677 to €36,022
- Taxes -€12,093
down €12,093 (-43.8%), from €27,587 to €15,495
- Gross operating margin +€10,447
up €10,447 (+6.3%), from €164,910 to €175,357
- Staff costs -€7,876
down €7,876 (-38.3%), from €20,554 to €12,678
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 | €1,178,025 | €1,135,765 | -€42,259 | -3.6% |
| Fixed assets | 21/28 | €825,776 | €781,175 | -€44,601 | -5.4% |
| Tangible fixed assets | 22/27 | €825,756 | €781,155 | -€44,601 | -5.4% |
| Land and buildings | 22 | €823,507 | €767,281 | -€56,225 | -6.8% |
| Plant, machinery and equipment | 23 | - | €11,820 | +€11,820 | |
| Furniture and vehicles | 24 | €2,249 | €2,053 | -€196 | -8.7% |
| Financial fixed assets | 28 | €21 | €21 | = | 0.0% |
| Current assets | 29/58 | €352,248 | €354,590 | +€2,342 | +0.7% |
| Amounts receivable within one year | 40/41 | €338,313 | €333,384 | -€4,929 | -1.5% |
| Trade receivables | 40 | €332,448 | €333,384 | +€936 | +0.3% |
| Other amounts receivable | 41 | €5,865 | - | -€5,865 | |
| Cash at bank and in hand | 54/58 | - | €20,850 | +€20,850 | |
| Deferred charges and accrued income | 490/1 | €13,935 | €355 | -€13,579 | -97.5% |
| Total equity and liabilities | 10/49 | €1,178,025 | €1,135,765 | -€42,259 | -3.6% |
| Equity | 10/15 | €437,781 | €471,997 | +€34,215 | +7.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €4,159 | €38,375 | +€34,215 | +823% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €34,215 | +€34,215 | |
| Distributable reserves | 133 | €2,299 | €2,299 | = | 0.0% |
| Profit (loss) carried forward | 14 | €415,022 | €415,022 | = | 0.0% |
| Amounts payable | 17/49 | €740,243 | €663,769 | -€76,475 | -10.3% |
| Amounts payable after more than one year | 17 | €619,088 | €541,211 | -€77,877 | -12.6% |
| Financial debts | 170/4 | €617,888 | €541,211 | -€76,677 | -12.4% |
| Other amounts payable | 178/9 | €1,200 | - | -€1,200 | |
| Amounts payable within one year | 42/48 | €121,156 | €122,558 | +€1,402 | +1.2% |
| Current portion of amounts payable after more than one year | 42 | €68,836 | €68,628 | -€208 | -0.3% |
| Financial debts | 43 | €13,581 | €9,722 | -€3,859 | -28.4% |
| Credit institutions | 430/8 | €13,581 | €9,722 | -€3,859 | -28.4% |
| Trade debts | 44 | €12,787 | €22,684 | +€9,898 | +77.4% |
| Suppliers | 440/4 | €12,787 | €22,684 | +€9,898 | +77.4% |
| Taxes, remuneration and social security | 45 | €17,259 | €15,489 | -€1,770 | -10.3% |
| Taxes | 450/3 | €17,259 | €15,489 | -€1,770 | -10.3% |
| Other amounts payable | 47/48 | €8,693 | €6,034 | -€2,659 | -30.6% |
| Turnover | 70 | €362,236 | €379,759 | +€17,524 | +4.8% |
| Goods, raw materials, services and sundry goods | 60/61 | €197,325 | €204,402 | +€7,077 | +3.6% |
| Remuneration, social security and pensions | 62 | €20,554 | €12,678 | -€7,876 | -38.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,837 | €57,527 | -€2,310 | -3.9% |
| Other operating charges | 640/8 | €20,677 | €36,022 | +€15,345 | +74.2% |
| Gross operating margin | 9900 | €164,910 | €175,357 | +€10,447 | +6.3% |
| Operating profit (loss) | 9901 | €63,842 | €69,129 | +€5,287 | +8.3% |
| Financial income | 75/76B | €151 | €48 | -€103 | -68.4% |
| Recurring financial income | 75 | €151 | €48 | -€103 | -68.4% |
| Financial charges | 65/66B | €19,054 | €19,467 | +€414 | +2.2% |
| Recurring financial charges | 65 | €19,054 | €19,467 | +€414 | +2.2% |
| Profit (loss) for the period before taxes | 9903 | €44,940 | €49,710 | +€4,770 | +10.6% |
| Income taxes | 67/77 | €27,587 | €15,495 | -€12,093 | -43.8% |
| Profit (loss) for the period | 9904 | €17,353 | €34,215 | +€16,863 | +97.2% |
| Transfer to tax-exempt reserves | 689 | - | €34,215 | +€34,215 | |
| Profit (loss) for the period to be appropriated | 9905 | €17,353 | €0 | -€17,353 | -100% |
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 17 October 2026 via checked.be.