SANDER VANDAELE: 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.
SANDER VANDAELE
Largest movements
- Cash +€43,024
up €43,024 (+1,908%), from €2,255 to €45,279
mainly Net result for the year (+€33,296) and Other debts (+€11,749)
- Receivables within one year -€7,190
down €7,190 (-27.7%), from €25,922 to €18,732
of which Trade receivables: -€6,566
- Stocks and contracts +€5,328
up €5,328 (+150%), from €3,547 to €8,875
- Tangible fixed assets -€4,077
down €4,077 (-35.7%), from €11,411 to €7,334
of which Furniture and vehicles: -€2,495
- Reserves +€18,863
up €18,863 (+130%), from €14,514 to €33,378
- Other debts +€11,749
up €11,749 (+438%), from €2,683 to €14,432
- Tax, wage and social debts +€7,268
up €7,268 (+2,141%), from €339 to €7,607
of which Taxes: +€5,818
- Current portion of long-term debt -€2,302
down €2,302 (-100%), from €2,302 to €0
- Gross operating margin +€14,746
up €14,746 (+35.2%), from €41,854 to €56,599
- Depreciation -€13,847
down €13,847 (-77.3%), from €17,924 to €4,077
- Taxes +€8,951
up €8,951 (+189%), from €4,734 to €13,685
- Other operating charges -€4,862
down €4,862 (-49.4%), from €9,847 to €4,986
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 | €48,662 | €84,906 | +€36,244 | +74.5% |
| Fixed assets | 21/28 | €11,546 | €7,469 | -€4,077 | -35.3% |
| Tangible fixed assets | 22/27 | €11,411 | €7,334 | -€4,077 | -35.7% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €3,006 | €512 | -€2,495 | -83.0% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Other tangible fixed assets | 26 | €8,405 | €6,823 | -€1,582 | -18.8% |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €37,116 | €77,437 | +€40,321 | +109% |
| Stocks and contracts in progress | 3 | €3,547 | €8,875 | +€5,328 | +150% |
| Stocks | 30/36 | €3,547 | €8,875 | +€5,328 | +150% |
| Amounts receivable within one year | 40/41 | €25,922 | €18,732 | -€7,190 | -27.7% |
| Trade receivables | 40 | €23,553 | €16,986 | -€6,566 | -27.9% |
| Other amounts receivable | 41 | €2,369 | €1,745 | -€624 | -26.3% |
| Cash at bank and in hand | 54/58 | €2,255 | €45,279 | +€43,024 | +1,908% |
| Deferred charges and accrued income | 490/1 | €5,392 | €4,551 | -€841 | -15.6% |
| Total equity and liabilities | 10/49 | €48,662 | €84,906 | +€36,244 | +74.5% |
| Equity | 10/15 | €26,914 | €45,778 | +€18,863 | +70.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €14,514 | €33,378 | +€18,863 | +130% |
| Distributable reserves | 133 | €14,514 | €33,378 | +€18,863 | +130% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €21,747 | €39,128 | +€17,381 | +79.9% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €21,747 | €39,128 | +€17,381 | +79.9% |
| Current portion of amounts payable after more than one year | 42 | €2,302 | €0 | -€2,302 | -100% |
| Trade debts | 44 | €16,423 | €17,089 | +€666 | +4.1% |
| Suppliers | 440/4 | €16,423 | €17,089 | +€666 | +4.1% |
| Taxes, remuneration and social security | 45 | €339 | €7,607 | +€7,268 | +2,141% |
| Taxes | 450/3 | €339 | €6,157 | +€5,818 | +1,714% |
| Remuneration and social security | 454/9 | €0 | €1,450 | +€1,450 | |
| Other amounts payable | 47/48 | €2,683 | €14,432 | +€11,749 | +438% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,924 | €4,077 | -€13,847 | -77.3% |
| Other operating charges | 640/8 | €9,847 | €4,986 | -€4,862 | -49.4% |
| Gross operating margin | 9900 | €41,854 | €56,599 | +€14,746 | +35.2% |
| Operating profit (loss) | 9901 | €14,082 | €47,537 | +€33,455 | +238% |
| Financial income | 75/76B | €1 | €0 | -€1 | -100% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -100% |
| Financial charges | 65/66B | €612 | €556 | -€56 | -9.2% |
| Recurring financial charges | 65 | €612 | €556 | -€56 | -9.2% |
| Profit (loss) for the period before taxes | 9903 | €13,471 | €46,981 | +€33,510 | +249% |
| Income taxes | 67/77 | €4,734 | €13,685 | +€8,951 | +189% |
| Profit (loss) for the period | 9904 | €8,736 | €33,296 | +€24,559 | +281% |
| Profit (loss) for the period to be appropriated | 9905 | €8,736 | €33,296 | +€24,559 | +281% |
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 23 October 2026 via checked.be.