Vandaele - Beel: 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 - Beel
Largest movements
- Cash +€189,733
up €189,733 (+74.4%), from €254,888 to €444,621
mainly Receivables within one year (+€149,261) and Receivables after one year (+€116,628)
- Receivables within one year -€149,261
down €149,261 (-24.0%), from €622,942 to €473,681
- Receivables after one year -€116,628
down €116,628 (-86.4%), from €135,000 to €18,372
- Current investments +€100,000
up €100,000 (+100%), from €100,000 to €200,000
- Reserves +€30,478
up €30,478 (+8.9%), from €344,234 to €374,712
of which Distributable reserves: +€38,284
- Provisions +€29,731
up €29,731, from -€29,731 to €0
- Gross operating margin +€16,204
up €16,204 (+51.5%), from €31,440 to €47,644
- Taxes -€5,977
down €5,977 (-24.7%), from €24,157 to €18,180
- Financial income -€5,004
down €5,004 (-9.6%), from €52,086 to €47,082
- Financial charges -€1,455
down €1,455 (-10.7%), from €13,536 to €12,081
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 | €1,488,128 | €1,513,464 | +€25,335 | +1.7% |
| Fixed assets | 21/28 | €372,270 | €374,147 | +€1,877 | +0.5% |
| Tangible fixed assets | 22/27 | €372,190 | €374,067 | +€1,877 | +0.5% |
| Land and buildings | 22 | €366,262 | €353,871 | -€12,390 | -3.4% |
| Plant, machinery and equipment | 23 | €5,929 | €20,196 | +€14,267 | +241% |
| Financial fixed assets | 28 | €80 | €80 | = | 0.0% |
| Current assets | 29/58 | €1,115,858 | €1,139,317 | +€23,458 | +2.1% |
| Amounts receivable after more than one year | 29 | €135,000 | €18,372 | -€116,628 | -86.4% |
| Other amounts receivable | 291 | €135,000 | €18,372 | -€116,628 | -86.4% |
| Amounts receivable within one year | 40/41 | €622,942 | €473,681 | -€149,261 | -24.0% |
| Other amounts receivable | 41 | €622,942 | €473,681 | -€149,261 | -24.0% |
| Current investments | 50/53 | €100,000 | €200,000 | +€100,000 | +100% |
| Cash at bank and in hand | 54/58 | €254,888 | €444,621 | +€189,733 | +74.4% |
| Deferred charges and accrued income | 490/1 | €3,029 | €2,643 | -€386 | -12.7% |
| Total equity and liabilities | 10/49 | €1,488,128 | €1,513,464 | +€25,335 | +1.7% |
| Equity | 10/15 | €1,279,034 | €1,309,512 | +€30,478 | +2.4% |
| Contributions | 10/11 | €934,800 | €934,800 | = | 0.0% |
| Reserves | 13 | €344,234 | €374,712 | +€30,478 | +8.9% |
| Tax-exempt reserves | 132 | €62,895 | €55,089 | -€7,806 | -12.4% |
| Distributable reserves | 133 | €281,339 | €319,623 | +€38,284 | +13.6% |
| Provisions and deferred taxes | 16 | €17,533 | €22,548 | +€5,015 | +28.6% |
| Provisions for liabilities and charges | 160/5 | €0 | - | = | |
| Environmental obligations | 163 | €0 | - | = | |
| Deferred taxes | 168 | €17,533 | €22,548 | +€5,015 | +28.6% |
| Amounts payable | 17/49 | €191,562 | €181,404 | -€10,158 | -5.3% |
| Amounts payable within one year | 42/48 | €191,562 | €181,404 | -€10,158 | -5.3% |
| Trade debts | 44 | €1,392 | €344 | -€1,048 | -75.3% |
| Suppliers | 440/4 | €1,392 | €344 | -€1,048 | -75.3% |
| Advances received on contracts in progress | 46 | €375 | €375 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €13,754 | €6,116 | -€7,638 | -55.5% |
| Taxes | 450/3 | €13,754 | €6,116 | -€7,638 | -55.5% |
| Other amounts payable | 47/48 | €176,041 | €174,569 | -€1,472 | -0.8% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,100 | €14,334 | +€1,233 | +9.4% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€29,731 | €0 | +€29,731 | |
| Other operating charges | 640/8 | €13,692 | €14,638 | +€946 | +6.9% |
| Gross operating margin | 9900 | €31,440 | €47,644 | +€16,204 | +51.5% |
| Operating profit (loss) | 9901 | €34,379 | €18,672 | -€15,707 | -45.7% |
| Financial income | 75/76B | €52,086 | €47,082 | -€5,004 | -9.6% |
| Recurring financial income | 75 | €52,086 | €47,082 | -€5,004 | -9.6% |
| Financial charges | 65/66B | €13,536 | €12,081 | -€1,455 | -10.7% |
| Recurring financial charges | 65 | €13,536 | €12,081 | -€1,455 | -10.7% |
| Profit (loss) for the period before taxes | 9903 | €72,930 | €53,673 | -€19,256 | -26.4% |
| Transfer from deferred taxes | 780 | €698 | €698 | +€0 | 0.0% |
| Income taxes | 67/77 | €24,157 | €18,180 | -€5,977 | -24.7% |
| Profit (loss) for the period | 9904 | €49,470 | €36,191 | -€13,279 | -26.8% |
| Transfer from tax-exempt reserves | 789 | €2,093 | €2,093 | +€0 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €51,563 | €38,284 | -€13,279 | -25.8% |
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 26 October 2026 via checked.be.