VAN DENDEREN: 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.
VAN DENDEREN
Largest movements
- Cash +€255,650
up €255,650 (+257.4%), from €99,313 to €354,963
mainly Depreciation (+€204,993) and Net result for the year (+€199,578)
- Tangible fixed assets -€199,356
down €199,356 (-71.0%), from €280,655 to €81,299
of which Plant, machinery and equipment: -€139,487
- Deferred charges and accrued income +€67,315
up €67,315 (+713.4%), from €9,436 to €76,751
- Receivables within one year -€40,060
down €40,060 (-2.1%), from €1.9m to €1.9m
of which Trade receivables: -€136,944
- Profit (loss) carried forward +€199,578
up €199,578 (+32.6%), from €612,651 to €812,228
- Trade debts -€88,605
down €88,605 (-25.3%), from €350,497 to €261,892
- Current portion of long-term debt -€59,716
down €59,716 (-83.2%), from €71,748 to €12,032
- Tax, wage and social debts +€45,378
up €45,378 (+98.4%), from €46,138 to €91,516
of which Taxes: +€53,610
- Debts after one year -€27,032
down €27,032 (-100.0%), from €27,032 to €0
- Gross operating margin +€94,822
up €94,822 (+24.1%), from €394,082 to €488,904
- Financial income +€57,128
up €57,128 (+573.7%), from €9,958 to €67,086
- Taxes +€49,584
up €49,584 (+198.8%), from €24,941 to €74,525
- Financial charges +€5,393
up €5,393 (+51.0%), from €10,565 to €15,958
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.
Cash bridge derived
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 | €2,333,913 | €2,416,812 | +€82,899 | +3.6% |
| Fixed assets | 21/28 | €280,772 | €81,416 | -€199,356 | -71.0% |
| Tangible fixed assets | 22/27 | €280,655 | €81,299 | -€199,356 | -71.0% |
| Plant, machinery and equipment | 23 | €176,936 | €37,449 | -€139,487 | -78.8% |
| Furniture and vehicles | 24 | €103,719 | €43,850 | -€59,869 | -57.7% |
| Financial fixed assets | 28 | €118 | €118 | = | 0.0% |
| Current assets | 29/58 | €2,053,140 | €2,335,396 | +€282,255 | +13.7% |
| Stocks and contracts in progress | 3 | €2,550 | €1,900 | -€650 | -25.5% |
| Stocks | 30/36 | €2,550 | €1,900 | -€650 | -25.5% |
| Amounts receivable within one year | 40/41 | €1,941,841 | €1,901,782 | -€40,060 | -2.1% |
| Trade receivables | 40 | €802,295 | €665,351 | -€136,944 | -17.1% |
| Other amounts receivable | 41 | €1,139,547 | €1,236,431 | +€96,884 | +8.5% |
| Cash at bank and in hand | 54/58 | €99,313 | €354,963 | +€255,650 | +257.4% |
| Deferred charges and accrued income | 490/1 | €9,436 | €76,751 | +€67,315 | +713.4% |
| Total equity and liabilities | 10/49 | €2,333,913 | €2,416,812 | +€82,899 | +3.6% |
| Equity | 10/15 | €1,080,151 | €1,279,728 | +€199,578 | +18.5% |
| Contributions | 10/11 | €125,000 | €125,000 | = | 0.0% |
| Capital | 10 | €125,000 | €125,000 | = | 0.0% |
| Issued capital | 100 | €125,000 | €125,000 | = | 0.0% |
| Reserves | 13 | €342,500 | €342,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €12,500 | €12,500 | = | 0.0% |
| Legal reserve | 130 | €12,500 | €12,500 | = | 0.0% |
| Distributable reserves | 133 | €330,000 | €330,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €612,651 | €812,228 | +€199,578 | +32.6% |
| Amounts payable | 17/49 | €1,253,762 | €1,137,084 | -€116,678 | -9.3% |
| Amounts payable after more than one year | 17 | €27,032 | €0 | -€27,032 | -100.0% |
| Financial debts | 170/4 | €27,032 | €0 | -€27,032 | -100.0% |
| Amounts payable within one year | 42/48 | €1,222,163 | €1,128,829 | -€93,334 | -7.6% |
| Current portion of amounts payable after more than one year | 42 | €71,748 | €12,032 | -€59,716 | -83.2% |
| Financial debts | 43 | €750,000 | €759,788 | +€9,788 | +1.3% |
| Credit institutions | 430/8 | €150,000 | €250,000 | +€100,000 | +66.7% |
| Other loans | 439 | €600,000 | €509,788 | -€90,212 | -15.0% |
| Trade debts | 44 | €350,497 | €261,892 | -€88,605 | -25.3% |
| Suppliers | 440/4 | €350,497 | €261,892 | -€88,605 | -25.3% |
| Taxes, remuneration and social security | 45 | €46,138 | €91,516 | +€45,378 | +98.4% |
| Taxes | 450/3 | €35,599 | €89,209 | +€53,610 | +150.6% |
| Remuneration and social security | 454/9 | €10,539 | €2,306 | -€8,232 | -78.1% |
| Other amounts payable | 47/48 | €3,779 | €3,601 | -€178 | -4.7% |
| Accrued charges and deferred income | 492/3 | €4,567 | €8,255 | +€3,688 | +80.7% |
| Non-recurring operating income | 76A | €5,000 | €0 | -€5,000 | -100.0% |
| Remuneration, social security and pensions | 62 | €52,049 | €54,251 | +€2,202 | +4.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €208,311 | €204,993 | -€3,318 | -1.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,195 | €0 | -€2,195 | -100.0% |
| Other operating charges | 640/8 | €7,307 | €5,373 | -€1,934 | -26.5% |
| Non-recurring operating charges | 66A | €13,881 | €1,313 | -€12,568 | -90.5% |
| Gross operating margin | 9900 | €394,082 | €488,904 | +€94,822 | +24.1% |
| Operating profit (loss) | 9901 | €110,339 | €222,975 | +€112,636 | +102.1% |
| Financial income | 75/76B | €9,958 | €67,086 | +€57,128 | +573.7% |
| Recurring financial income | 75 | €9,958 | €67,086 | +€57,128 | +573.7% |
| Financial charges | 65/66B | €10,565 | €15,958 | +€5,393 | +51.0% |
| Recurring financial charges | 65 | €10,565 | €15,958 | +€5,393 | +51.0% |
| Profit (loss) for the period before taxes | 9903 | €109,732 | €274,102 | +€164,370 | +149.8% |
| Income taxes | 67/77 | €24,941 | €74,525 | +€49,584 | +198.8% |
| Profit (loss) for the period | 9904 | €84,791 | €199,578 | +€114,787 | +135.4% |
| Profit (loss) for the period to be appropriated | 9905 | €84,791 | €199,578 | +€114,787 | +135.4% |
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 12 October 2026 via checked.be.