HANS VANDORMAEL: 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.
HANS VANDORMAEL
Largest movements
- Stocks and contracts -€24,722
down €24,722 (-42.9%), from €57,603 to €32,881
- Receivables within one year -€10,828
down €10,828 (-91.5%), from €11,828 to €1,000
- Cash -€10,402
down €10,402 (-59.8%), from €17,395 to €6,993
mainly Net result for the year (-€42,848) and Other debts (-€6,701)
- Tangible fixed assets -€8,840
down €8,840 (-25.6%), from €34,539 to €25,699
- Profit (loss) carried forward -€42,848
down €42,848 (-18.2%), from -€235,018 to -€277,866
- Other debts -€6,701
down €6,701 (-15.0%), from €44,746 to €38,046
- Tax, wage and social debts -€3,535
down €3,535 (-25.5%), from €13,874 to €10,339
- Trade debts -€1,708
down €1,708 (-7.8%), from €21,992 to €20,284
- Financial income -€6,538
down €6,538 (-70.5%), from €9,274 to €2,736
of which Non-recurring financial income: -€9,186
- Gross operating margin +€2,532
up €2,532 (+17.3%), from -€14,640 to -€12,108
- Financial charges -€378
down €378 (-10.1%), from €3,756 to €3,378
- Staff costs -€270
down €270 (-1.4%), from €19,424 to €19,154
- Other operating charges -€246
down €246 (-12.5%), from €1,966 to €1,720
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €126,610 | €71,818 | -€54,792 | -43.3% |
| Fixed assets | 21/28 | €39,784 | €30,944 | -€8,840 | -22.2% |
| Tangible fixed assets | 22/27 | €34,539 | €25,699 | -€8,840 | -25.6% |
| Furniture and vehicles | 24 | €34,539 | €25,699 | -€8,840 | -25.6% |
| Financial fixed assets | 28 | €5,245 | €5,245 | = | 0.0% |
| Current assets | 29/58 | €86,826 | €40,874 | -€45,952 | -52.9% |
| Stocks and contracts in progress | 3 | €57,603 | €32,881 | -€24,722 | -42.9% |
| Stocks | 30/36 | €57,603 | €32,881 | -€24,722 | -42.9% |
| Amounts receivable within one year | 40/41 | €11,828 | €1,000 | -€10,828 | -91.5% |
| Trade receivables | 40 | €11,828 | €1,000 | -€10,828 | -91.5% |
| Cash at bank and in hand | 54/58 | €17,395 | €6,993 | -€10,402 | -59.8% |
| Total equity and liabilities | 10/49 | €126,610 | €71,818 | -€54,792 | -43.3% |
| Equity | 10/15 | €10,998 | -€31,851 | -€42,848 | |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €233,616 | €233,616 | = | 0.0% |
| 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 | €231,756 | €231,756 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€235,018 | -€277,866 | -€42,848 | -18.2% |
| Amounts payable | 17/49 | €115,612 | €103,669 | -€11,943 | -10.3% |
| Amounts payable within one year | 42/48 | €115,612 | €103,669 | -€11,943 | -10.3% |
| Financial debts | 43 | €35,000 | €35,000 | = | 0.0% |
| Other loans | 439 | €35,000 | €35,000 | = | 0.0% |
| Trade debts | 44 | €21,992 | €20,284 | -€1,708 | -7.8% |
| Suppliers | 440/4 | €21,992 | €20,284 | -€1,708 | -7.8% |
| Taxes, remuneration and social security | 45 | €13,874 | €10,339 | -€3,535 | -25.5% |
| Taxes | 450/3 | €13,874 | €10,339 | -€3,535 | -25.5% |
| Other amounts payable | 47/48 | €44,746 | €38,046 | -€6,701 | -15.0% |
| Remuneration, social security and pensions | 62 | €19,424 | €19,154 | -€270 | -1.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,840 | €8,840 | = | 0.0% |
| Other operating charges | 640/8 | €1,966 | €1,720 | -€246 | -12.5% |
| Gross operating margin | 9900 | -€14,640 | -€12,108 | +€2,532 | +17.3% |
| Operating profit (loss) | 9901 | -€44,870 | -€41,822 | +€3,048 | +6.8% |
| Financial income | 75/76B | €9,274 | €2,736 | -€6,538 | -70.5% |
| Recurring financial income | 75 | €9,274 | €2,648 | -€6,627 | -71.5% |
| Non-recurring financial income | 76B | €9,274 | €89 | -€9,186 | -99.0% |
| Financial charges | 65/66B | €3,756 | €3,378 | -€378 | -10.1% |
| Recurring financial charges | 65 | €3,756 | €3,378 | -€378 | -10.1% |
| Profit (loss) for the period before taxes | 9903 | -€39,351 | -€42,463 | -€3,112 | -7.9% |
| Income taxes | 67/77 | €492 | €385 | -€107 | -21.8% |
| Profit (loss) for the period | 9904 | -€39,844 | -€42,848 | -€3,004 | -7.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€39,844 | -€42,848 | -€3,004 | -7.5% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.