TOM VANDEWALLE: what changed
TOM VANDEWALLE
Largest movements
- Receivables within one year +€23,223
up €23,223 (+33.2%), from €69,871 to €93,095
of which Trade receivables: +€23,171
- Cash +€10,659
up €10,659 (+632%), from €1,686 to €12,345
mainly Debts after one year (+€81,174) and Depreciation (+€14,261)
- Tangible fixed assets -€8,487
down €8,487 (-12.5%), from €67,949 to €59,463
of which Land and buildings: -€11,150
- Debts after one year +€81,174
up €81,174 (+360%), from €22,526 to €103,701
of which Other amounts payable: +€81,174
- Other debts -€63,250
no longer reported in 2025 (was €63,250)
- Profit (loss) carried forward +€5,272
up €5,272 (+332%), from €1,586 to €6,858
- Staff costs -€5,906
no longer reported in 2025 (was €5,906)
- Gross operating margin -€5,293
down €5,293 (-18.3%), from €28,887 to €23,594
- Other operating charges -€3,156
down €3,156 (-64.5%), from €4,893 to €1,737
- Taxes +€1,133
up €1,133 (+132%), from €857 to €1,991
- Depreciation -€552
down €552 (-3.7%), from €14,813 to €14,261
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 | €139,600 | €164,995 | +€25,396 | +18.2% |
| Fixed assets | 21/28 | €68,043 | €59,556 | -€8,487 | -12.5% |
| Tangible fixed assets | 22/27 | €67,949 | €59,463 | -€8,487 | -12.5% |
| Land and buildings | 22 | €57,857 | €46,707 | -€11,150 | -19.3% |
| Plant, machinery and equipment | 23 | €3,397 | €2,424 | -€973 | -28.6% |
| Furniture and vehicles | 24 | €6,695 | €10,331 | +€3,636 | +54.3% |
| Financial fixed assets | 28 | €93 | €93 | = | 0.0% |
| Current assets | 29/58 | €71,557 | €105,439 | +€33,882 | +47.3% |
| Amounts receivable within one year | 40/41 | €69,871 | €93,095 | +€23,223 | +33.2% |
| Trade receivables | 40 | €69,819 | €92,990 | +€23,171 | +33.2% |
| Other amounts receivable | 41 | €52 | €104 | +€52 | +100% |
| Cash at bank and in hand | 54/58 | €1,686 | €12,345 | +€10,659 | +632% |
| Total equity and liabilities | 10/49 | €139,600 | €164,995 | +€25,396 | +18.2% |
| Equity | 10/15 | €43,395 | €48,667 | +€5,272 | +12.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Contributions outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Other | 1109/19 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €35,609 | €35,609 | = | 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 | €33,749 | €33,749 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,586 | €6,858 | +€5,272 | +332% |
| Amounts payable | 17/49 | €96,205 | €116,328 | +€20,123 | +20.9% |
| Amounts payable after more than one year | 17 | €22,526 | €103,701 | +€81,174 | +360% |
| Financial debts | 170/4 | €22,526 | €22,526 | = | 0.0% |
| Other amounts payable | 178/9 | - | €81,174 | +€81,174 | |
| Amounts payable within one year | 42/48 | €73,678 | €12,628 | -€61,051 | -82.9% |
| Trade debts | 44 | €6,662 | €7,869 | +€1,207 | +18.1% |
| Suppliers | 440/4 | €6,662 | €7,869 | +€1,207 | +18.1% |
| Taxes, remuneration and social security | 45 | €3,766 | €4,758 | +€992 | +26.3% |
| Taxes | 450/3 | €3,766 | €4,758 | +€992 | +26.3% |
| Other amounts payable | 47/48 | €63,250 | - | -€63,250 | |
| Remuneration, social security and pensions | 62 | €5,906 | - | -€5,906 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,813 | €14,261 | -€552 | -3.7% |
| Other operating charges | 640/8 | €4,893 | €1,737 | -€3,156 | -64.5% |
| Gross operating margin | 9900 | €28,887 | €23,594 | -€5,293 | -18.3% |
| Operating profit (loss) | 9901 | €3,275 | €7,596 | +€4,321 | +132% |
| Financial charges | 65/66B | €422 | €333 | -€89 | -21.1% |
| Recurring financial charges | 65 | €422 | €333 | -€89 | -21.1% |
| Profit (loss) for the period before taxes | 9903 | €2,853 | €7,263 | +€4,410 | +155% |
| Income taxes | 67/77 | €857 | €1,991 | +€1,133 | +132% |
| Profit (loss) for the period | 9904 | €1,996 | €5,272 | +€3,277 | +164% |
| Profit (loss) for the period to be appropriated | 9905 | €1,996 | €5,272 | +€3,277 | +164% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.