Etablissements Vandercam: 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.
Etablissements Vandercam
Largest movements
- Tangible fixed assets -€9,807
no longer reported in 2025 (was €9,807)
of which Plant, machinery and equipment: -€7,372
- Receivables within one year +€8,000
up €8,000 (+12.3%), from €65,054 to €73,054
of which Trade receivables: +€8,000
- Trade debts -€2,622
down €2,622 (-81.0%), from €3,239 to €616
- Other debts +€2,120
up €2,120 (+1.0%), from €214,563 to €216,684
- Profit (loss) carried forward -€1,480
down €1,480 (-0.3%), from -€436,556 to -€438,036
- Gross operating margin +€4,614
up €4,614 (+78.4%), from -€5,884 to -€1,270
- Depreciation -€2,399
no longer reported in 2025 (was €2,399)
- Other operating charges -€570
down €570 (-77.5%), from €735 to €165
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 | €75,036 | €73,054 | -€1,982 | -2.6% |
| Fixed assets | 21/28 | €9,807 | - | -€9,807 | |
| Tangible fixed assets | 22/27 | €9,807 | - | -€9,807 | |
| Plant, machinery and equipment | 23 | €7,372 | - | -€7,372 | |
| Other tangible fixed assets | 26 | €2,435 | - | -€2,435 | |
| Current assets | 29/58 | €65,229 | €73,054 | +€7,825 | +12.0% |
| Amounts receivable within one year | 40/41 | €65,054 | €73,054 | +€8,000 | +12.3% |
| Trade receivables | 40 | €13,618 | €21,618 | +€8,000 | +58.7% |
| Other amounts receivable | 41 | €51,436 | €51,436 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €175 | - | -€175 | |
| Total equity and liabilities | 10/49 | €75,036 | €73,054 | -€1,982 | -2.6% |
| Equity | 10/15 | -€142,766 | -€144,246 | -€1,480 | -1.0% |
| Contributions | 10/11 | €173,525 | €173,525 | = | 0.0% |
| Capital | 10 | €173,525 | €173,525 | = | 0.0% |
| Issued capital | 100 | €173,525 | €173,525 | = | 0.0% |
| Reserves | 13 | €120,264 | €120,264 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,150 | €7,150 | = | 0.0% |
| Reserves not available under the articles | 1311 | €7,150 | - | -€7,150 | |
| Own shares acquired | 1312 | - | €7,150 | +€7,150 | |
| Tax-exempt reserves | 132 | €107,635 | €107,635 | = | 0.0% |
| Distributable reserves | 133 | €5,479 | €5,479 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€436,556 | -€438,036 | -€1,480 | -0.3% |
| Amounts payable | 17/49 | €217,802 | €217,300 | -€502 | -0.2% |
| Amounts payable within one year | 42/48 | €217,802 | €217,300 | -€502 | -0.2% |
| Trade debts | 44 | €3,239 | €616 | -€2,622 | -81.0% |
| Suppliers | 440/4 | €3,239 | €616 | -€2,622 | -81.0% |
| Other amounts payable | 47/48 | €214,563 | €216,684 | +€2,120 | +1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,399 | - | -€2,399 | |
| Other operating charges | 640/8 | €735 | €165 | -€570 | -77.5% |
| Gross operating margin | 9900 | -€5,884 | -€1,270 | +€4,614 | +78.4% |
| Operating profit (loss) | 9901 | -€9,018 | -€1,435 | +€7,583 | +84.1% |
| Financial charges | 65/66B | €31 | €45 | +€14 | +46.3% |
| Recurring financial charges | 65 | €31 | €45 | +€14 | +46.3% |
| Profit (loss) for the period before taxes | 9903 | -€9,049 | -€1,480 | +€7,569 | +83.6% |
| Profit (loss) for the period | 9904 | -€9,049 | -€1,480 | +€7,569 | +83.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,049 | -€1,480 | +€7,569 | +83.6% |
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 1 November 2026 via checked.be.