VANCLOOSTER-DENDAUW: 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.
VANCLOOSTER-DENDAUW
Largest movements
- Stocks and contracts +€100,705
up €100,705 (+19.2%), from €523,513 to €624,218
- Cash +€87,452
up €87,452 (+120%), from €72,769 to €160,221
mainly Trade debts (+€125,893) and Short-term financial debts (+€54,540)
- Tangible fixed assets +€9,715
new in 2025: €9,715
- Trade debts +€125,893
up €125,893 (+164%), from €76,678 to €202,571
- Short-term financial debts +€54,540
up €54,540 (+109%), from €50,000 to €104,540
- Profit (loss) carried forward +€22,404
up €22,404 (+16.0%), from €140,396 to €162,800
- Gross operating margin +€9,294
up €9,294 (+15.0%), from €62,120 to €71,414
- Financial income -€5,265
down €5,265 (-44.2%), from €11,916 to €6,651
- Staff costs +€3,520
up €3,520 (+10.0%), from €35,236 to €38,756
- Taxes +€1,386
up €1,386 (+18.9%), from €7,347 to €8,733
- Financial charges +€812
up €812 (+16.9%), from €4,793 to €5,605
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 | €624,844 | €824,980 | +€200,136 | +32.0% |
| Fixed assets | 21/28 | - | €9,715 | +€9,715 | |
| Tangible fixed assets | 22/27 | - | €9,715 | +€9,715 | |
| Furniture and vehicles | 24 | - | €9,715 | +€9,715 | |
| Current assets | 29/58 | €624,844 | €815,265 | +€190,421 | +30.5% |
| Stocks and contracts in progress | 3 | €523,513 | €624,218 | +€100,705 | +19.2% |
| Stocks | 30/36 | €523,513 | €624,218 | +€100,705 | +19.2% |
| Amounts receivable within one year | 40/41 | €28,562 | €30,826 | +€2,264 | +7.9% |
| Trade receivables | 40 | €28,562 | €30,826 | +€2,264 | +7.9% |
| Cash at bank and in hand | 54/58 | €72,769 | €160,221 | +€87,452 | +120% |
| Total equity and liabilities | 10/49 | €624,844 | €824,980 | +€200,136 | +32.0% |
| Equity | 10/15 | €490,847 | €513,251 | +€22,404 | +4.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €331,859 | €331,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €330,000 | €330,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €140,396 | €162,800 | +€22,404 | +16.0% |
| Amounts payable | 17/49 | €133,997 | €311,729 | +€177,732 | +133% |
| Amounts payable within one year | 42/48 | €130,008 | €311,729 | +€181,721 | +140% |
| Financial debts | 43 | €50,000 | €104,540 | +€54,540 | +109% |
| Other loans | 439 | €50,000 | €104,540 | +€54,540 | +109% |
| Trade debts | 44 | €76,678 | €202,571 | +€125,893 | +164% |
| Suppliers | 440/4 | €76,678 | €202,571 | +€125,893 | +164% |
| Taxes, remuneration and social security | 45 | €3,330 | €4,618 | +€1,288 | +38.7% |
| Taxes | 450/3 | €2,285 | €3,498 | +€1,213 | +53.1% |
| Remuneration and social security | 454/9 | €1,045 | €1,120 | +€75 | +7.2% |
| Accrued charges and deferred income | 492/3 | €3,989 | - | -€3,989 | |
| Remuneration, social security and pensions | 62 | €35,236 | €38,756 | +€3,520 | +10.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €513 | +€513 | |
| Other operating charges | 640/8 | €2,168 | €2,054 | -€114 | -5.3% |
| Gross operating margin | 9900 | €62,120 | €71,414 | +€9,294 | +15.0% |
| Operating profit (loss) | 9901 | €24,716 | €30,091 | +€5,375 | +21.7% |
| Financial income | 75/76B | €11,916 | €6,651 | -€5,265 | -44.2% |
| Recurring financial income | 75 | €11,916 | €6,651 | -€5,265 | -44.2% |
| Financial charges | 65/66B | €4,793 | €5,605 | +€812 | +16.9% |
| Recurring financial charges | 65 | €4,793 | €5,605 | +€812 | +16.9% |
| Profit (loss) for the period before taxes | 9903 | €31,839 | €31,137 | -€702 | -2.2% |
| Income taxes | 67/77 | €7,347 | €8,733 | +€1,386 | +18.9% |
| Profit (loss) for the period | 9904 | €24,492 | €22,404 | -€2,088 | -8.5% |
| Profit (loss) for the period to be appropriated | 9905 | €24,492 | €22,404 | -€2,088 | -8.5% |
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 30 October 2026 via checked.be.