VANDA MEUBELEN: 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.
VANDA MEUBELEN
Largest movements
- Receivables within one year -€35,617
down €35,617 (-74.0%), from €48,101 to €12,484
of which Trade receivables: -€44,362
- Tangible fixed assets -€24,113
down €24,113 (-27.9%), from €86,298 to €62,185
of which Leasing and similar rights: -€14,764
- Stocks and contracts -€15,900
down €15,900 (-5.5%), from €291,700 to €275,800
of which Stocks: -€11,900
- Cash +€14,213
up €14,213 (+60.6%), from €23,463 to €37,676
mainly Receivables within one year (+€35,617) and Depreciation (+€29,919)
- Other debts -€24,673
no longer reported in 2025 (was €24,673)
- Current portion of long-term debt -€16,422
down €16,422 (-53.7%), from €30,577 to €14,155
- Debts after one year -€15,988
down €15,988 (-7.6%), from €211,188 to €195,200
of which Financial debts: -€8,988
- Profit (loss) carried forward +€9,746
up €9,746 (+15.4%), from -€63,478 to -€53,732
- Tax, wage and social debts -€7,778
down €7,778 (-35.9%), from €21,676 to €13,899
- Staff costs -€23,528
down €23,528 (-8.7%), from €269,510 to €245,982
- Gross operating margin -€21,085
down €21,085 (-6.7%), from €315,557 to €294,472
- Depreciation -€4,269
down €4,269 (-12.5%), from €34,187 to €29,919
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 | €454,320 | €393,407 | -€60,913 | -13.4% |
| Fixed assets | 21/28 | €87,498 | €62,185 | -€25,313 | -28.9% |
| Tangible fixed assets | 22/27 | €86,298 | €62,185 | -€24,113 | -27.9% |
| Plant, machinery and equipment | 23 | €54,951 | €44,411 | -€10,539 | -19.2% |
| Furniture and vehicles | 24 | €13,841 | €15,032 | +€1,190 | +8.6% |
| Leasing and similar rights | 25 | €17,505 | €2,742 | -€14,764 | -84.3% |
| Financial fixed assets | 28 | €1,200 | - | -€1,200 | |
| Current assets | 29/58 | €366,823 | €331,223 | -€35,600 | -9.7% |
| Stocks and contracts in progress | 3 | €291,700 | €275,800 | -€15,900 | -5.5% |
| Stocks | 30/36 | €113,700 | €101,800 | -€11,900 | -10.5% |
| Contracts in progress | 37 | €178,000 | €174,000 | -€4,000 | -2.2% |
| Amounts receivable within one year | 40/41 | €48,101 | €12,484 | -€35,617 | -74.0% |
| Trade receivables | 40 | €44,362 | - | -€44,362 | |
| Other amounts receivable | 41 | €3,739 | €12,484 | +€8,745 | +234% |
| Cash at bank and in hand | 54/58 | €23,463 | €37,676 | +€14,213 | +60.6% |
| Deferred charges and accrued income | 490/1 | €3,559 | €5,263 | +€1,703 | +47.9% |
| Total equity and liabilities | 10/49 | €454,320 | €393,407 | -€60,913 | -13.4% |
| Equity | 10/15 | €21,169 | €30,915 | +€9,746 | +46.0% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €22,647 | €22,647 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €16,447 | €16,447 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€63,478 | -€53,732 | +€9,746 | +15.4% |
| Amounts payable | 17/49 | €433,152 | €362,492 | -€70,660 | -16.3% |
| Amounts payable after more than one year | 17 | €211,188 | €195,200 | -€15,988 | -7.6% |
| Financial debts | 170/4 | €11,188 | €2,200 | -€8,988 | -80.3% |
| Other amounts payable | 178/9 | €200,000 | €193,000 | -€7,000 | -3.5% |
| Amounts payable within one year | 42/48 | €221,964 | €166,272 | -€55,693 | -25.1% |
| Current portion of amounts payable after more than one year | 42 | €30,577 | €14,155 | -€16,422 | -53.7% |
| Financial debts | 43 | €50,000 | €50,000 | = | 0.0% |
| Credit institutions | 430/8 | €50,000 | €50,000 | = | 0.0% |
| Trade debts | 44 | €95,038 | €88,218 | -€6,820 | -7.2% |
| Suppliers | 440/4 | €95,038 | €88,218 | -€6,820 | -7.2% |
| Taxes, remuneration and social security | 45 | €21,676 | €13,899 | -€7,778 | -35.9% |
| Remuneration and social security | 454/9 | €21,676 | €13,899 | -€7,778 | -35.9% |
| Other amounts payable | 47/48 | €24,673 | - | -€24,673 | |
| Accrued charges and deferred income | 492/3 | - | €1,021 | +€1,021 | |
| Remuneration, social security and pensions | 62 | €269,510 | €245,982 | -€23,528 | -8.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,187 | €29,919 | -€4,269 | -12.5% |
| Other operating charges | 640/8 | €1,297 | €2,001 | +€704 | +54.3% |
| Gross operating margin | 9900 | €315,557 | €294,472 | -€21,085 | -6.7% |
| Operating profit (loss) | 9901 | €10,563 | €16,571 | +€6,007 | +56.9% |
| Financial income | 75/76B | €87 | €465 | +€378 | +436% |
| Recurring financial income | 75 | €87 | €465 | +€378 | +436% |
| Financial charges | 65/66B | €8,150 | €7,289 | -€861 | -10.6% |
| Recurring financial charges | 65 | €8,150 | €7,289 | -€861 | -10.6% |
| Profit (loss) for the period before taxes | 9903 | €2,500 | €9,746 | +€7,246 | +290% |
| Profit (loss) for the period | 9904 | €2,500 | €9,746 | +€7,246 | +290% |
| Profit (loss) for the period to be appropriated | 9905 | €2,500 | €9,746 | +€7,246 | +290% |
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 27 October 2026 via checked.be.