VAN SANDE PROJECTS: what changed
Two fiscal 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 PROJECTS
Largest movements
- Tangible fixed assets +€145,363
up €145,363 (+32.6%), from €446,504 to €591,867
- Contributions +€155,000
up €155,000 (+4163.0%), from €3,723 to €158,723
- Debts after one year -€17,313
down €17,313 (-5.1%), from €341,419 to €324,106
of which Financial debts: -€17,313
- Trade debts +€11,845
up €11,845, from €0 to €11,845
- Other operating charges +€3,179
up €3,179 (+82.7%), from €3,842 to €7,021
- Gross operating margin +€2,811
up €2,811 (+7.8%), from €35,872 to €38,683
- Depreciation +€681
up €681 (+3.7%), from €18,605 to €19,286
- Financial charges -€667
down €667 (-5.6%), from €11,843 to €11,175
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 | €464,192 | €615,589 | +€151,397 | +32.6% |
| Fixed assets | 21/28 | €446,504 | €591,867 | +€145,363 | +32.6% |
| Tangible fixed assets | 22/27 | €446,504 | €591,867 | +€145,363 | +32.6% |
| Land and buildings | 22 | €446,504 | €591,867 | +€145,363 | +32.6% |
| Current assets | 29/58 | €17,688 | €23,722 | +€6,034 | +34.1% |
| Amounts receivable within one year | 40/41 | €6,600 | €6,600 | = | 0.0% |
| Trade receivables | 40 | €6,600 | €6,600 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €11,088 | €17,122 | +€6,034 | +54.4% |
| Total equity and liabilities | 10/49 | €464,192 | €615,589 | +€151,397 | +32.6% |
| Equity | 10/15 | €105,780 | €261,980 | +€156,200 | +147.7% |
| Contributions | 10/11 | €3,723 | €158,723 | +€155,000 | +4163.0% |
| Reserves | 13 | €114,255 | €114,255 | = | 0.0% |
| Tax-exempt reserves | 132 | €4,400 | €4,400 | = | 0.0% |
| Distributable reserves | 133 | €109,855 | €109,855 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€12,199 | -€10,998 | +€1,200 | +9.8% |
| Amounts payable | 17/49 | €358,412 | €353,609 | -€4,803 | -1.3% |
| Amounts payable after more than one year | 17 | €341,419 | €324,106 | -€17,313 | -5.1% |
| Financial debts | 170/4 | €271,419 | €254,106 | -€17,313 | -6.4% |
| Other amounts payable | 178/9 | €70,000 | €70,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €16,993 | €29,503 | +€12,510 | +73.6% |
| Current portion of amounts payable after more than one year | 42 | €16,648 | €17,313 | +€665 | +4.0% |
| Trade debts | 44 | €0 | €11,845 | +€11,845 | |
| Suppliers | 440/4 | €0 | €11,845 | +€11,845 | |
| Other amounts payable | 47/48 | €345 | €345 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,605 | €19,286 | +€681 | +3.7% |
| Other operating charges | 640/8 | €3,842 | €7,021 | +€3,179 | +82.7% |
| Gross operating margin | 9900 | €35,872 | €38,683 | +€2,811 | +7.8% |
| Operating profit (loss) | 9901 | €13,425 | €12,376 | -€1,049 | -7.8% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €11,843 | €11,175 | -€667 | -5.6% |
| Recurring financial charges | 65 | €11,843 | €11,175 | -€667 | -5.6% |
| Profit (loss) for the period before taxes | 9903 | €1,582 | €1,200 | -€382 | -24.1% |
| Profit (loss) for the period | 9904 | €1,582 | €1,200 | -€382 | -24.1% |
| Profit (loss) for the period to be appropriated | 9905 | €1,582 | €1,200 | -€382 | -24.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.