FERME VANDERMEULEN: what changed
FERME VANDERMEULEN
Largest movements
- Receivables within one year +€115,356
up €115,356 (+98.7%), from €116,895 to €232,251
of which Trade receivables: +€116,114
- Tangible fixed assets -€46,331
down €46,331 (-9.6%), from €483,403 to €437,072
of which Plant, machinery and equipment: -€29,409
- Cash -€16,034
down €16,034 (-6.2%), from €256,620 to €240,587
mainly Investment in fixed assets (net) (-€136,296) and Receivables within one year (-€115,356)
- Reserves +€36,134
up €36,134 (+78.2%), from €46,210 to €82,344
- Trade debts +€31,778
up €31,778 (+162%), from €19,657 to €51,434
- Debts after one year -€27,438
down €27,438 (-2.8%), from €967,653 to €940,214
of which Financial debts: -€19,498
- Gross operating margin +€46,264
up €46,264 (+22.4%), from €206,415 to €252,678
- Depreciation +€16,712
up €16,712 (+10.1%), from €165,914 to €182,626
- Taxes +€6,229
new in 2025: €6,229
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 | €1,063,083 | €1,109,999 | +€46,917 | +4.4% |
| Fixed assets | 21/28 | €483,403 | €437,072 | -€46,331 | -9.6% |
| Tangible fixed assets | 22/27 | €483,403 | €437,072 | -€46,331 | -9.6% |
| Land and buildings | 22 | €99,666 | €93,633 | -€6,033 | -6.1% |
| Plant, machinery and equipment | 23 | €349,413 | €320,004 | -€29,409 | -8.4% |
| Furniture and vehicles | 24 | €32,699 | €22,597 | -€10,102 | -30.9% |
| Other tangible fixed assets | 26 | €1,624 | €838 | -€786 | -48.4% |
| Current assets | 29/58 | €579,680 | €672,928 | +€93,247 | +16.1% |
| Stocks and contracts in progress | 3 | €206,165 | €200,090 | -€6,075 | -2.9% |
| Stocks | 30/36 | €206,165 | €200,090 | -€6,075 | -2.9% |
| Amounts receivable within one year | 40/41 | €116,895 | €232,251 | +€115,356 | +98.7% |
| Trade receivables | 40 | €103,433 | €219,547 | +€116,114 | +112% |
| Other amounts receivable | 41 | €13,462 | €12,704 | -€758 | -5.6% |
| Cash at bank and in hand | 54/58 | €256,620 | €240,587 | -€16,034 | -6.2% |
| Total equity and liabilities | 10/49 | €1,063,083 | €1,109,999 | +€46,917 | +4.4% |
| Equity | 10/15 | €56,210 | €92,344 | +€36,134 | +64.3% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €46,210 | €82,344 | +€36,134 | +78.2% |
| Distributable reserves | 133 | €46,210 | €82,344 | +€36,134 | +78.2% |
| Amounts payable | 17/49 | €1,006,873 | €1,017,655 | +€10,782 | +1.1% |
| Amounts payable after more than one year | 17 | €967,653 | €940,214 | -€27,438 | -2.8% |
| Financial debts | 170/4 | €77,994 | €58,496 | -€19,498 | -25.0% |
| Other amounts payable | 178/9 | €889,658 | €881,718 | -€7,940 | -0.9% |
| Amounts payable within one year | 42/48 | €39,155 | €77,374 | +€38,219 | +97.6% |
| Current portion of amounts payable after more than one year | 42 | €19,498 | €19,498 | = | 0.0% |
| Trade debts | 44 | €19,657 | €51,434 | +€31,778 | +162% |
| Suppliers | 440/4 | €19,657 | €51,434 | +€31,778 | +162% |
| Taxes, remuneration and social security | 45 | - | €6,442 | +€6,442 | |
| Taxes | 450/3 | - | €6,442 | +€6,442 | |
| Accrued charges and deferred income | 492/3 | €66 | €67 | +€1 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €165,914 | €182,626 | +€16,712 | +10.1% |
| Other operating charges | 640/8 | €1,061 | €973 | -€87 | -8.2% |
| Gross operating margin | 9900 | €206,415 | €252,678 | +€46,264 | +22.4% |
| Operating profit (loss) | 9901 | €39,439 | €69,078 | +€29,639 | +75.2% |
| Financial income | 75/76B | €309 | €67 | -€242 | -78.2% |
| Recurring financial income | 75 | €309 | €67 | -€242 | -78.2% |
| Financial charges | 65/66B | €2,123 | €1,782 | -€341 | -16.1% |
| Recurring financial charges | 65 | €2,123 | €1,782 | -€341 | -16.1% |
| Profit (loss) for the period before taxes | 9903 | €37,625 | €67,364 | +€29,738 | +79.0% |
| Income taxes | 67/77 | - | €6,229 | +€6,229 | |
| Profit (loss) for the period | 9904 | €37,625 | €61,134 | +€23,509 | +62.5% |
| Profit (loss) for the period to be appropriated | 9905 | €37,625 | €61,134 | +€23,509 | +62.5% |
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 5 November 2026 via checked.be.