van der Sanden: 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 der Sanden
Largest movements
- Tangible fixed assets -€46,549
down €46,549 (-9.2%), from €507,868 to €461,319
of which Land and buildings: -€47,405
- Receivables within one year +€20,615
up €20,615 (+28.2%), from €73,074 to €93,689
of which Trade receivables: +€20,643
- Current investments +€12,409
up €12,409 (+25.5%), from €48,621 to €61,030
- Debts after one year -€13,513
down €13,513 (-3.7%), from €367,663 to €354,150
- Reserves +€9,476
up €9,476 (+4.4%), from €216,833 to €226,309
of which Distributable reserves: +€9,476
- Gross operating margin -€65,850
down €65,850 (-26.6%), from €247,747 to €181,897
- Taxes -€17,246
down €17,246 (-76.1%), from €22,648 to €5,402
- Financial income +€3,279
up €3,279 (+347%), from €946 to €4,225
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 | €699,704 | €693,684 | -€6,020 | -0.9% |
| Fixed assets | 21/28 | €507,868 | €461,319 | -€46,549 | -9.2% |
| Tangible fixed assets | 22/27 | €507,868 | €461,319 | -€46,549 | -9.2% |
| Land and buildings | 22 | €327,506 | €280,101 | -€47,405 | -14.5% |
| Plant, machinery and equipment | 23 | €153,709 | €168,205 | +€14,496 | +9.4% |
| Furniture and vehicles | 24 | €26,653 | €13,013 | -€13,640 | -51.2% |
| Current assets | 29/58 | €191,836 | €232,365 | +€40,529 | +21.1% |
| Amounts receivable within one year | 40/41 | €73,074 | €93,689 | +€20,615 | +28.2% |
| Trade receivables | 40 | €72,999 | €93,642 | +€20,643 | +28.3% |
| Other amounts receivable | 41 | €75 | €47 | -€28 | -37.0% |
| Current investments | 50/53 | €48,621 | €61,030 | +€12,409 | +25.5% |
| Cash at bank and in hand | 54/58 | €61,681 | €65,805 | +€4,123 | +6.7% |
| Deferred charges and accrued income | 490/1 | €8,460 | €11,842 | +€3,382 | +40.0% |
| Total equity and liabilities | 10/49 | €699,704 | €693,684 | -€6,020 | -0.9% |
| Equity | 10/15 | €223,033 | €232,509 | +€9,476 | +4.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €216,833 | €226,309 | +€9,476 | +4.4% |
| Tax-exempt reserves | 132 | €37,500 | €37,500 | = | 0.0% |
| Distributable reserves | 133 | €179,333 | €188,809 | +€9,476 | +5.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €476,671 | €461,175 | -€15,496 | -3.3% |
| Amounts payable after more than one year | 17 | €367,663 | €354,150 | -€13,513 | -3.7% |
| Financial debts | 170/4 | €367,663 | €354,150 | -€13,513 | -3.7% |
| Amounts payable within one year | 42/48 | €107,341 | €105,096 | -€2,245 | -2.1% |
| Current portion of amounts payable after more than one year | 42 | €58,256 | €56,474 | -€1,782 | -3.1% |
| Trade debts | 44 | €3,549 | €4,061 | +€513 | +14.5% |
| Suppliers | 440/4 | €3,549 | €4,061 | +€513 | +14.5% |
| Taxes, remuneration and social security | 45 | €45,433 | €44,560 | -€872 | -1.9% |
| Taxes | 450/3 | €34,000 | €33,498 | -€502 | -1.5% |
| Remuneration and social security | 454/9 | €11,432 | €11,062 | -€370 | -3.2% |
| Other amounts payable | 47/48 | €103 | €0 | -€103 | -100% |
| Accrued charges and deferred income | 492/3 | €1,668 | €1,930 | +€262 | +15.7% |
| Non-recurring operating income | 76A | - | €7,920 | +€7,920 | |
| Remuneration, social security and pensions | 62 | €72,829 | €71,847 | -€983 | -1.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €76,716 | €77,418 | +€702 | +0.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,295 | -€739 | -€2,034 | |
| Other operating charges | 640/8 | €6,133 | €6,413 | +€279 | +4.6% |
| Gross operating margin | 9900 | €247,747 | €181,897 | -€65,850 | -26.6% |
| Operating profit (loss) | 9901 | €90,773 | €26,959 | -€63,814 | -70.3% |
| Financial income | 75/76B | €946 | €4,225 | +€3,279 | +347% |
| Recurring financial income | 75 | €946 | €4,225 | +€3,279 | +347% |
| Financial charges | 65/66B | €16,949 | €16,306 | -€643 | -3.8% |
| Recurring financial charges | 65 | €16,949 | €16,306 | -€643 | -3.8% |
| Profit (loss) for the period before taxes | 9903 | €74,770 | €14,878 | -€59,892 | -80.1% |
| Income taxes | 67/77 | €22,648 | €5,402 | -€17,246 | -76.1% |
| Profit (loss) for the period | 9904 | €52,122 | €9,476 | -€42,646 | -81.8% |
| Profit (loss) for the period to be appropriated | 9905 | €52,122 | €9,476 | -€42,646 | -81.8% |
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 18 October 2026 via checked.be.