VANDAELE: 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.
VANDAELE
Largest movements
- Current investments -€200,000
down €200,000 (-100.0%), from €200,000 to €0
- Cash +€55,939
up €55,939 (+15.7%), from €355,226 to €411,166
mainly Current investments (+€200,000) and Net result for the year (+€151,618)
- Receivables within one year +€51,782
up €51,782 (+143.2%), from €36,151 to €87,933
of which Other amounts receivable: +€42,525
- Other debts -€96,121
down €96,121 (-38.8%), from €247,739 to €151,618
- Debts after one year -€28,665
down €28,665 (-27.9%), from €102,716 to €74,051
- Trade debts +€19,011
up €19,011 (+221.0%), from €8,601 to €27,612
- Accrued charges and deferred income +€10,000
new in 2025: €10,000
- Gross operating margin -€64,009
down €64,009 (-12.3%), from €521,766 to €457,757
- Staff costs +€54,879
up €54,879 (+36.8%), from €148,998 to €203,876
- Taxes -€30,926
down €30,926 (-35.6%), from €86,833 to €55,907
- Financial income -€8,297
down €8,297 (-60.9%), from €13,622 to €5,325
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 | €971,007 | €878,211 | -€92,796 | -9.6% |
| Fixed assets | 21/28 | €379,183 | €376,903 | -€2,280 | -0.6% |
| Tangible fixed assets | 22/27 | €379,053 | €376,773 | -€2,280 | -0.6% |
| Land and buildings | 22 | €283,285 | €273,852 | -€9,433 | -3.3% |
| Plant, machinery and equipment | 23 | €17,181 | €6,678 | -€10,503 | -61.1% |
| Furniture and vehicles | 24 | €78,586 | €96,243 | +€17,657 | +22.5% |
| Financial fixed assets | 28 | €130 | €130 | = | 0.0% |
| Current assets | 29/58 | €591,824 | €501,308 | -€90,516 | -15.3% |
| Amounts receivable within one year | 40/41 | €36,151 | €87,933 | +€51,782 | +143.2% |
| Trade receivables | 40 | - | €9,257 | +€9,257 | |
| Other amounts receivable | 41 | €36,151 | €78,676 | +€42,525 | +117.6% |
| Current investments | 50/53 | €200,000 | €0 | -€200,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €355,226 | €411,166 | +€55,939 | +15.7% |
| Deferred charges and accrued income | 490/1 | €447 | €2,209 | +€1,762 | +394.3% |
| Total equity and liabilities | 10/49 | €971,007 | €878,211 | -€92,796 | -9.6% |
| Equity | 10/15 | €562,794 | €562,794 | = | 0.0% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €556,597 | €556,597 | = | 0.0% |
| Distributable reserves | 133 | €556,597 | €556,597 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €408,213 | €315,417 | -€92,796 | -22.7% |
| Amounts payable after more than one year | 17 | €102,716 | €74,051 | -€28,665 | -27.9% |
| Financial debts | 170/4 | €102,716 | €74,051 | -€28,665 | -27.9% |
| Amounts payable within one year | 42/48 | €305,497 | €231,365 | -€74,131 | -24.3% |
| Current portion of amounts payable after more than one year | 42 | €28,665 | €28,665 | = | 0.0% |
| Trade debts | 44 | €8,601 | €27,612 | +€19,011 | +221.0% |
| Suppliers | 440/4 | €8,601 | €27,612 | +€19,011 | +221.0% |
| Taxes, remuneration and social security | 45 | €20,492 | €23,470 | +€2,978 | +14.5% |
| Taxes | 450/3 | €3,035 | €0 | -€3,035 | -100.0% |
| Remuneration and social security | 454/9 | €17,457 | €23,470 | +€6,013 | +34.4% |
| Other amounts payable | 47/48 | €247,739 | €151,618 | -€96,121 | -38.8% |
| Accrued charges and deferred income | 492/3 | - | €10,000 | +€10,000 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €148,998 | €203,876 | +€54,879 | +36.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,335 | €45,536 | +€200 | +0.4% |
| Other operating charges | 640/8 | €2,411 | €2,214 | -€197 | -8.2% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €521,766 | €457,757 | -€64,009 | -12.3% |
| Operating profit (loss) | 9901 | €325,022 | €206,132 | -€118,891 | -36.6% |
| Financial income | 75/76B | €13,622 | €5,325 | -€8,297 | -60.9% |
| Recurring financial income | 75 | €13,622 | €5,325 | -€8,297 | -60.9% |
| Financial charges | 65/66B | €4,072 | €3,931 | -€141 | -3.5% |
| Recurring financial charges | 65 | €4,072 | €3,931 | -€141 | -3.5% |
| Profit (loss) for the period before taxes | 9903 | €334,572 | €207,525 | -€127,046 | -38.0% |
| Income taxes | 67/77 | €86,833 | €55,907 | -€30,926 | -35.6% |
| Profit (loss) for the period | 9904 | €247,739 | €151,618 | -€96,121 | -38.8% |
| Profit (loss) for the period to be appropriated | 9905 | €247,739 | €151,618 | -€96,121 | -38.8% |
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 9 October 2026 via checked.be.