VANDAELE CONSTRUCT: what changed
VANDAELE CONSTRUCT
Largest movements
- Stocks and contracts -€407,541
down €407,541 (-100%), from €407,541 to €0
of which Stocks: -€215,600
- Cash +€109,745
up €109,745 (+129%), from €84,811 to €194,556
mainly Stocks and contracts (+€407,541) and Net result for the year (+€89,948)
- Receivables within one year +€93,780
up €93,780 (+27.2%), from €344,682 to €438,462
of which Other amounts receivable: +€176,868
- Tangible fixed assets -€31,456
down €31,456 (-92.5%), from €34,003 to €2,547
of which Plant, machinery and equipment: -€17,012
- Deferred charges and accrued income -€17,261
down €17,261 (-77.7%), from €22,205 to €4,943
- Short-term financial debts -€213,500
down €213,500 (-100%), from €213,500 to €0
- Trade debts -€94,492
down €94,492 (-41.1%), from €229,918 to €135,425
- Profit (loss) carried forward +€89,948
up €89,948 (+38.7%), from -€232,706 to -€142,759
- Tax, wage and social debts -€44,454
down €44,454 (-94.9%), from €46,855 to €2,401
of which Remuneration and social security: -€43,310
- Other debts +€32,603
up €32,603 (+27.1%), from €120,441 to €153,045
- Gross operating margin -€404,414
down €404,414 (-53.3%), from €758,404 to €353,990
- Staff costs -€401,194
down €401,194 (-62.5%), from €642,277 to €241,084
- Depreciation -€29,754
down €29,754 (-96.0%), from €31,008 to €1,254
- Financial charges -€16,360
down €16,360 (-48.3%), from €33,851 to €17,491
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €893,740 | €640,508 | -€253,232 | -28.3% |
| Fixed assets | 21/28 | €34,502 | €2,547 | -€31,955 | -92.6% |
| Intangible fixed assets | 21 | €499 | €0 | -€499 | -100% |
| Tangible fixed assets | 22/27 | €34,003 | €2,547 | -€31,456 | -92.5% |
| Plant, machinery and equipment | 23 | €19,559 | €2,547 | -€17,012 | -87.0% |
| Furniture and vehicles | 24 | €14,444 | €0 | -€14,444 | -100% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Current assets | 29/58 | €859,238 | €637,961 | -€221,277 | -25.8% |
| Stocks and contracts in progress | 3 | €407,541 | €0 | -€407,541 | -100% |
| Stocks | 30/36 | €215,600 | €0 | -€215,600 | -100% |
| Contracts in progress | 37 | €191,941 | €0 | -€191,941 | -100% |
| Amounts receivable within one year | 40/41 | €344,682 | €438,462 | +€93,780 | +27.2% |
| Trade receivables | 40 | €313,240 | €230,152 | -€83,088 | -26.5% |
| Other amounts receivable | 41 | €31,442 | €208,310 | +€176,868 | +563% |
| Cash at bank and in hand | 54/58 | €84,811 | €194,556 | +€109,745 | +129% |
| Deferred charges and accrued income | 490/1 | €22,205 | €4,943 | -€17,261 | -77.7% |
| Total equity and liabilities | 10/49 | €893,740 | €640,508 | -€253,232 | -28.3% |
| Equity | 10/15 | €254,689 | €344,637 | +€89,948 | +35.3% |
| Contributions | 10/11 | €362,000 | €362,000 | = | 0.0% |
| Capital | 10 | €362,000 | €362,000 | = | 0.0% |
| Issued capital | 100 | €362,000 | €362,000 | = | 0.0% |
| Reserves | 13 | €125,396 | €125,396 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €119,196 | €119,196 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€232,706 | -€142,759 | +€89,948 | +38.7% |
| Amounts payable | 17/49 | €639,051 | €295,871 | -€343,180 | -53.7% |
| Amounts payable after more than one year | 17 | €8,873 | €0 | -€8,873 | -100% |
| Financial debts | 170/4 | €8,873 | €0 | -€8,873 | -100% |
| Amounts payable within one year | 42/48 | €620,723 | €290,871 | -€329,852 | -53.1% |
| Current portion of amounts payable after more than one year | 42 | €10,009 | €0 | -€10,009 | -100% |
| Financial debts | 43 | €213,500 | €0 | -€213,500 | -100% |
| Credit institutions | 430/8 | €213,500 | €0 | -€213,500 | -100% |
| Trade debts | 44 | €229,918 | €135,425 | -€94,492 | -41.1% |
| Suppliers | 440/4 | €229,918 | €135,425 | -€94,492 | -41.1% |
| Taxes, remuneration and social security | 45 | €46,855 | €2,401 | -€44,454 | -94.9% |
| Taxes | 450/3 | €3,545 | €2,401 | -€1,144 | -32.3% |
| Remuneration and social security | 454/9 | €43,310 | €0 | -€43,310 | -100% |
| Other amounts payable | 47/48 | €120,441 | €153,045 | +€32,603 | +27.1% |
| Accrued charges and deferred income | 492/3 | €9,455 | €5,000 | -€4,455 | -47.1% |
| Non-recurring operating income | 76A | - | €661,497 | +€661,497 | |
| Remuneration, social security and pensions | 62 | €642,277 | €241,084 | -€401,194 | -62.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,008 | €1,254 | -€29,754 | -96.0% |
| Other operating charges | 640/8 | €5,920 | €3,986 | -€1,934 | -32.7% |
| Non-recurring operating charges | 66A | - | €4,631 | +€4,631 | |
| Gross operating margin | 9900 | €758,404 | €353,990 | -€404,414 | -53.3% |
| Operating profit (loss) | 9901 | €79,199 | €103,036 | +€23,837 | +30.1% |
| Financial income | 75/76B | €142 | €4,809 | +€4,668 | +3,296% |
| Recurring financial income | 75 | €142 | €4,809 | +€4,668 | +3,296% |
| Financial charges | 65/66B | €33,851 | €17,491 | -€16,360 | -48.3% |
| Recurring financial charges | 65 | €33,851 | €17,491 | -€16,360 | -48.3% |
| Profit (loss) for the period before taxes | 9903 | €45,490 | €90,355 | +€44,865 | +98.6% |
| Income taxes | 67/77 | €727 | €407 | -€319 | -44.0% |
| Profit (loss) for the period | 9904 | €44,763 | €89,948 | +€45,184 | +101% |
| Profit (loss) for the period to be appropriated | 9905 | €44,763 | €89,948 | +€45,184 | +101% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.