VAN SANDE: 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 SANDE
Largest movements
- Tangible fixed assets -€29,655
down €29,655 (-16.5%), from €180,069 to €150,414
of which Furniture and vehicles: -€67,228
- Cash -€20,720
down €20,720 (-48.4%), from €42,801 to €22,081
mainly Investment in fixed assets (net) (-€47,326) and Debts after one year (-€20,428)
- Receivables within one year +€19,215
up €19,215 (+20.5%), from €93,827 to €113,041
of which Trade receivables: +€16,860
- Deferred charges and accrued income -€9,586
down €9,586 (-60.2%), from €15,912 to €6,326
- Stocks and contracts -€8,531
down €8,531 (-50.4%), from €16,931 to €8,400
- Debts after one year -€20,428
down €20,428 (-62.8%), from €32,544 to €12,116
- Current portion of long-term debt -€12,498
down €12,498 (-38.0%), from €32,926 to €20,428
- Trade debts -€12,074
down €12,074 (-59.7%), from €20,230 to €8,157
- Short-term financial debts -€8,435
down €8,435 (-89.8%), from €9,392 to €957
- Reserves +€7,388
up €7,388 (+3.2%), from €230,976 to €238,364
of which Distributable reserves: +€7,388
- Gross operating margin +€12,615
up €12,615 (+6.7%), from €188,918 to €201,533
- Staff costs +€4,424
up €4,424 (+4.2%), from €104,297 to €108,721
- Depreciation +€3,108
up €3,108 (+4.2%), from €73,873 to €76,981
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 | €349,539 | €300,263 | -€49,277 | -14.1% |
| Fixed assets | 21/28 | €180,069 | €150,414 | -€29,655 | -16.5% |
| Tangible fixed assets | 22/27 | €180,069 | €150,414 | -€29,655 | -16.5% |
| Land and buildings | 22 | €1,460 | €36,640 | +€35,180 | +2,409% |
| Plant, machinery and equipment | 23 | €12,172 | €7,496 | -€4,675 | -38.4% |
| Furniture and vehicles | 24 | €166,437 | €99,208 | -€67,228 | -40.4% |
| Other tangible fixed assets | 26 | - | €7,069 | +€7,069 | |
| Current assets | 29/58 | €169,471 | €149,848 | -€19,622 | -11.6% |
| Stocks and contracts in progress | 3 | €16,931 | €8,400 | -€8,531 | -50.4% |
| Stocks | 30/36 | €16,931 | €8,400 | -€8,531 | -50.4% |
| Amounts receivable within one year | 40/41 | €93,827 | €113,041 | +€19,215 | +20.5% |
| Trade receivables | 40 | €90,665 | €107,524 | +€16,860 | +18.6% |
| Other amounts receivable | 41 | €3,162 | €5,517 | +€2,355 | +74.5% |
| Cash at bank and in hand | 54/58 | €42,801 | €22,081 | -€20,720 | -48.4% |
| Deferred charges and accrued income | 490/1 | €15,912 | €6,326 | -€9,586 | -60.2% |
| Total equity and liabilities | 10/49 | €349,539 | €300,263 | -€49,277 | -14.1% |
| Equity | 10/15 | €237,173 | €244,561 | +€7,388 | +3.1% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €230,976 | €238,364 | +€7,388 | +3.2% |
| Tax-exempt reserves | 132 | €8,300 | €8,300 | = | 0.0% |
| Distributable reserves | 133 | €222,676 | €230,064 | +€7,388 | +3.3% |
| Amounts payable | 17/49 | €112,367 | €55,702 | -€56,665 | -50.4% |
| Amounts payable after more than one year | 17 | €32,544 | €12,116 | -€20,428 | -62.8% |
| Financial debts | 170/4 | €32,544 | €12,116 | -€20,428 | -62.8% |
| Amounts payable within one year | 42/48 | €77,201 | €43,585 | -€33,616 | -43.5% |
| Current portion of amounts payable after more than one year | 42 | €32,926 | €20,428 | -€12,498 | -38.0% |
| Financial debts | 43 | €9,392 | €957 | -€8,435 | -89.8% |
| Credit institutions | 430/8 | €9,392 | €957 | -€8,435 | -89.8% |
| Trade debts | 44 | €20,230 | €8,157 | -€12,074 | -59.7% |
| Suppliers | 440/4 | €20,230 | €8,157 | -€12,074 | -59.7% |
| Taxes, remuneration and social security | 45 | €14,653 | €14,044 | -€609 | -4.2% |
| Taxes | 450/3 | €11,264 | €8,682 | -€2,582 | -22.9% |
| Remuneration and social security | 454/9 | €3,389 | €5,362 | +€1,973 | +58.2% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €2,621 | €0 | -€2,621 | -100% |
| Remuneration, social security and pensions | 62 | €104,297 | €108,721 | +€4,424 | +4.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €73,873 | €76,981 | +€3,108 | +4.2% |
| Other operating charges | 640/8 | €4,116 | €3,178 | -€937 | -22.8% |
| Non-recurring operating charges | 66A | €1,220 | €0 | -€1,220 | -100% |
| Gross operating margin | 9900 | €188,918 | €201,533 | +€12,615 | +6.7% |
| Operating profit (loss) | 9901 | €5,413 | €12,653 | +€7,240 | +134% |
| Financial income | 75/76B | €61 | €284 | +€223 | +363% |
| Recurring financial income | 75 | €61 | €284 | +€223 | +363% |
| Financial charges | 65/66B | €3,791 | €2,742 | -€1,049 | -27.7% |
| Recurring financial charges | 65 | €3,791 | €2,742 | -€1,049 | -27.7% |
| Profit (loss) for the period before taxes | 9903 | €1,683 | €10,195 | +€8,512 | +506% |
| Income taxes | 67/77 | €1,041 | €2,807 | +€1,766 | +170% |
| Profit (loss) for the period | 9904 | €642 | €7,388 | +€6,746 | +1,051% |
| Profit (loss) for the period to be appropriated | 9905 | €642 | €7,388 | +€6,746 | +1,051% |
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 14 October 2026 via checked.be.