ETS. VANDENBERGHE: 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.
ETS. VANDENBERGHE
Largest movements
- Deferred charges and accrued income +€15,362
new in 2025: €15,362
- Tangible fixed assets -€6,007
down €6,007 (-75.8%), from €7,919 to €1,913
- Cash +€4,787
up €4,787 (+23.8%), from €20,075 to €24,863
mainly Net result for the year (+€11,213) and Other debts (+€4,903)
- Reserves +€10,380
up €10,380 (+134.8%), from €7,703 to €18,082
- Other debts +€4,903
up €4,903 (+588.5%), from €833 to €5,736
- Current portion of long-term debt -€4,676
no longer reported in 2025 (was €4,676)
- Tax, wage and social debts +€3,048
up €3,048 (+173.2%), from €1,760 to €4,808
- Financial income +€13,228
new in 2025: €13,228
of which Financial income: +€13,228
- Gross operating margin -€7,286
down €7,286 (-54.7%), from €13,315 to €6,030
- Other operating charges -€598
down €598 (-34.2%), from €1,749 to €1,151
- Taxes +€538
up €538 (+13.6%), from €3,967 to €4,505
- Depreciation +€290
up €290 (+14.9%), from €1,941 to €2,231
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 | €39,475 | €53,572 | +€14,097 | +35.7% |
| Fixed assets | 21/28 | €7,919 | €1,913 | -€6,007 | -75.8% |
| Tangible fixed assets | 22/27 | €7,919 | €1,913 | -€6,007 | -75.8% |
| Furniture and vehicles | 24 | €7,919 | €1,913 | -€6,007 | -75.8% |
| Current assets | 29/58 | €31,556 | €51,659 | +€20,103 | +63.7% |
| Amounts receivable within one year | 40/41 | €11,481 | €11,435 | -€46 | -0.4% |
| Trade receivables | 40 | €11,481 | €11,435 | -€46 | -0.4% |
| Cash at bank and in hand | 54/58 | €20,075 | €24,863 | +€4,787 | +23.8% |
| Deferred charges and accrued income | 490/1 | - | €15,362 | +€15,362 | |
| Total equity and liabilities | 10/49 | €39,475 | €53,572 | +€14,097 | +35.7% |
| Equity | 10/15 | €26,303 | €36,682 | +€10,380 | +39.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €7,703 | €18,082 | +€10,380 | +134.8% |
| Distributable reserves | 133 | €7,703 | €18,082 | +€10,380 | +134.8% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €13,173 | €16,890 | +€3,717 | +28.2% |
| Amounts payable within one year | 42/48 | €13,173 | €16,890 | +€3,717 | +28.2% |
| Current portion of amounts payable after more than one year | 42 | €4,676 | - | -€4,676 | |
| Trade debts | 44 | €5,904 | €6,346 | +€442 | +7.5% |
| Suppliers | 440/4 | €5,904 | €6,346 | +€442 | +7.5% |
| Taxes, remuneration and social security | 45 | €1,760 | €4,808 | +€3,048 | +173.2% |
| Taxes | 450/3 | €1,760 | €4,808 | +€3,048 | +173.2% |
| Other amounts payable | 47/48 | €833 | €5,736 | +€4,903 | +588.5% |
| Non-recurring operating income | 76A | - | €1,653 | +€1,653 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,941 | €2,231 | +€290 | +14.9% |
| Other operating charges | 640/8 | €1,749 | €1,151 | -€598 | -34.2% |
| Gross operating margin | 9900 | €13,315 | €6,030 | -€7,286 | -54.7% |
| Operating profit (loss) | 9901 | €9,625 | €2,648 | -€6,977 | -72.5% |
| Financial income | 75/76B | - | €13,228 | +€13,228 | |
| Recurring financial income | 75 | - | €13,228 | +€13,228 | |
| Non-recurring financial income | 76B | - | €13,228 | +€13,228 | |
| Financial charges | 65/66B | €227 | €158 | -€69 | -30.4% |
| Recurring financial charges | 65 | €227 | €158 | -€69 | -30.4% |
| Profit (loss) for the period before taxes | 9903 | €9,398 | €15,718 | +€6,320 | +67.2% |
| Income taxes | 67/77 | €3,967 | €4,505 | +€538 | +13.6% |
| Profit (loss) for the period | 9904 | €5,431 | €11,213 | +€5,782 | +106.5% |
| Profit (loss) for the period to be appropriated | 9905 | €5,431 | €11,213 | +€5,782 | +106.5% |
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 10 October 2026 via checked.be.