Vandaele Kaas: what changed
Vandaele Kaas
Largest movements
- Receivables after one year +€390,000
new in 2025: €390,000
- Current investments -€275,000
down €275,000 (-100%), from €275,000 to €0
- Cash -€14,639
down €14,639 (-10.8%), from €135,313 to €120,674
mainly Receivables after one year (-€390,000) and Contributions, distributions and other (-€116,581)
- Tangible fixed assets -€9,290
down €9,290 (-46.4%), from €20,035 to €10,745
of which Furniture and vehicles: -€7,475
- Receivables within one year +€8,910
up €8,910 (+320%), from €2,781 to €11,692
- Other debts +€100,112
up €100,112 (+535%), from €18,712 to €118,824
- Tax, wage and social debts -€18,183
down €18,183 (-48.4%), from €37,546 to €19,363
of which Remuneration and social security: -€11,766
- Reserves +€11,762
up €11,762 (+3.2%), from €362,540 to €374,302
of which Distributable reserves: +€11,762
- Trade debts +€8,429
up €8,429 (+46.1%), from €18,300 to €26,729
- Gross operating margin +€17,693
up €17,693 (+7.5%), from €236,767 to €254,460
- Staff costs +€8,721
up €8,721 (+16.4%), from €53,220 to €61,940
- Financial income +€5,890
up €5,890 (+203%), from €2,898 to €8,788
of which Financial income: +€5,890
- Taxes +€5,110
up €5,110 (+9.0%), from €56,745 to €61,855
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 | €465,756 | €563,257 | +€97,501 | +20.9% |
| Fixed assets | 21/28 | €20,305 | €12,370 | -€7,935 | -39.1% |
| Tangible fixed assets | 22/27 | €20,035 | €10,745 | -€9,290 | -46.4% |
| Plant, machinery and equipment | 23 | €5,949 | €4,135 | -€1,814 | -30.5% |
| Furniture and vehicles | 24 | €14,085 | €6,610 | -€7,475 | -53.1% |
| Financial fixed assets | 28 | €270 | €1,625 | +€1,355 | +502% |
| Current assets | 29/58 | €445,452 | €550,887 | +€105,436 | +23.7% |
| Amounts receivable after more than one year | 29 | - | €390,000 | +€390,000 | |
| Other amounts receivable | 291 | - | €390,000 | +€390,000 | |
| Stocks and contracts in progress | 3 | €18,273 | €18,643 | +€370 | +2.0% |
| Stocks | 30/36 | €18,273 | €18,643 | +€370 | +2.0% |
| Amounts receivable within one year | 40/41 | €2,781 | €11,692 | +€8,910 | +320% |
| Trade receivables | 40 | €2,781 | €11,692 | +€8,910 | +320% |
| Current investments | 50/53 | €275,000 | €0 | -€275,000 | -100% |
| Cash at bank and in hand | 54/58 | €135,313 | €120,674 | -€14,639 | -10.8% |
| Deferred charges and accrued income | 490/1 | €14,084 | €9,879 | -€4,205 | -29.9% |
| Total equity and liabilities | 10/49 | €465,756 | €563,257 | +€97,501 | +20.9% |
| Equity | 10/15 | €381,540 | €393,302 | +€11,762 | +3.1% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €362,540 | €374,302 | +€11,762 | +3.2% |
| Non-distributable reserves | 130/1 | €1,900 | €1,900 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,900 | €1,900 | = | 0.0% |
| Distributable reserves | 133 | €360,640 | €372,402 | +€11,762 | +3.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €84,217 | €169,955 | +€85,739 | +102% |
| Amounts payable after more than one year | 17 | €1,579 | €0 | -€1,579 | -100% |
| Financial debts | 170/4 | €1,579 | €0 | -€1,579 | -100% |
| Amounts payable within one year | 42/48 | €80,875 | €166,495 | +€85,620 | +106% |
| Current portion of amounts payable after more than one year | 42 | €6,317 | €1,579 | -€4,738 | -75.0% |
| Trade debts | 44 | €18,300 | €26,729 | +€8,429 | +46.1% |
| Suppliers | 440/4 | €18,300 | €26,729 | +€8,429 | +46.1% |
| Taxes, remuneration and social security | 45 | €37,546 | €19,363 | -€18,183 | -48.4% |
| Taxes | 450/3 | €19,794 | €13,377 | -€6,417 | -32.4% |
| Remuneration and social security | 454/9 | €17,752 | €5,986 | -€11,766 | -66.3% |
| Other amounts payable | 47/48 | €18,712 | €118,824 | +€100,112 | +535% |
| Accrued charges and deferred income | 492/3 | €1,762 | €3,460 | +€1,698 | +96.3% |
| Remuneration, social security and pensions | 62 | €53,220 | €61,940 | +€8,721 | +16.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,515 | €9,290 | -€225 | -2.4% |
| Other operating charges | 640/8 | €2,056 | €1,498 | -€558 | -27.1% |
| Gross operating margin | 9900 | €236,767 | €254,460 | +€17,693 | +7.5% |
| Operating profit (loss) | 9901 | €171,977 | €181,733 | +€9,755 | +5.7% |
| Financial income | 75/76B | €2,898 | €8,788 | +€5,890 | +203% |
| Recurring financial income | 75 | €2,898 | €8,788 | +€5,890 | +203% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €1,331 | €322 | -€1,009 | -75.8% |
| Recurring financial charges | 65 | €1,331 | €322 | -€1,009 | -75.8% |
| Profit (loss) for the period before taxes | 9903 | €173,544 | €190,199 | +€16,654 | +9.6% |
| Income taxes | 67/77 | €56,745 | €61,855 | +€5,110 | +9.0% |
| Profit (loss) for the period | 9904 | €116,799 | €128,343 | +€11,544 | +9.9% |
| Profit (loss) for the period to be appropriated | 9905 | €116,799 | €128,343 | +€11,544 | +9.9% |
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 4 November 2026 via checked.be.