J. Vandevelde: 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.
J. Vandevelde
Largest movements
- Cash -€63,248
down €63,248 (-47.0%), from €134,688 to €71,439
mainly Net result for the year (-€36,589) and Trade debts (-€23,116)
- Stocks and contracts -€4,500
down €4,500 (-14.8%), from €30,437 to €25,937
- Receivables within one year +€3,278
up €3,278 (+11.4%), from €28,854 to €32,132
of which Trade receivables: +€1,970
- Profit (loss) carried forward -€36,589
down €36,589 (-44.3%), from €82,637 to €46,048
- Trade debts -€23,116
down €23,116 (-94.9%), from €24,366 to €1,250
- Other debts -€4,765
down €4,765 (-7.2%), from €66,554 to €61,790
- Gross operating margin -€40,027
down €40,027, from €6,835 to -€33,191
- Other operating charges -€1,156
down €1,156 (-45.1%), from €2,564 to €1,408
- Taxes -€959
down €959 (-46.4%), from €2,068 to €1,108
- Financial charges +€620
up €620 (+237%), from €262 to €882
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 | €193,979 | €129,509 | -€64,470 | -33.2% |
| Current assets | 29/58 | €193,979 | €129,509 | -€64,470 | -33.2% |
| Stocks and contracts in progress | 3 | €30,437 | €25,937 | -€4,500 | -14.8% |
| Stocks | 30/36 | €30,437 | €25,937 | -€4,500 | -14.8% |
| Amounts receivable within one year | 40/41 | €28,854 | €32,132 | +€3,278 | +11.4% |
| Trade receivables | 40 | €28,561 | €30,530 | +€1,970 | +6.9% |
| Other amounts receivable | 41 | €294 | €1,602 | +€1,308 | +446% |
| Cash at bank and in hand | 54/58 | €134,688 | €71,439 | -€63,248 | -47.0% |
| Total equity and liabilities | 10/49 | €193,979 | €129,509 | -€64,470 | -33.2% |
| Equity | 10/15 | €103,058 | €66,469 | -€36,589 | -35.5% |
| Contributions | 10/11 | €18,565 | €18,565 | = | 0.0% |
| Reserves | 13 | €1,856 | €1,856 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,856 | €1,856 | = | 0.0% |
| Other | 1319 | €1,856 | €1,856 | = | 0.0% |
| Profit (loss) carried forward | 14 | €82,637 | €46,048 | -€36,589 | -44.3% |
| Amounts payable | 17/49 | €90,920 | €63,039 | -€27,881 | -30.7% |
| Amounts payable within one year | 42/48 | €90,920 | €63,039 | -€27,881 | -30.7% |
| Trade debts | 44 | €24,366 | €1,250 | -€23,116 | -94.9% |
| Suppliers | 440/4 | €24,366 | €1,250 | -€23,116 | -94.9% |
| Other amounts payable | 47/48 | €66,554 | €61,790 | -€4,765 | -7.2% |
| Other operating charges | 640/8 | €2,564 | €1,408 | -€1,156 | -45.1% |
| Gross operating margin | 9900 | €6,835 | -€33,191 | -€40,027 | |
| Operating profit (loss) | 9901 | €4,271 | -€34,599 | -€38,870 | |
| Financial charges | 65/66B | €262 | €882 | +€620 | +237% |
| Recurring financial charges | 65 | €262 | €882 | +€620 | +237% |
| Profit (loss) for the period before taxes | 9903 | €4,009 | -€35,481 | -€39,490 | |
| Income taxes | 67/77 | €2,068 | €1,108 | -€959 | -46.4% |
| Profit (loss) for the period | 9904 | €1,941 | -€36,589 | -€38,531 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,941 | -€36,589 | -€38,531 |
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 24 October 2026 via checked.be.