VANDAELE Steven: 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 Steven
Largest movements
- Current investments +€82,026
up €82,026 (+3,201%), from €2,562 to €84,588
- Cash -€59,543
down €59,543 (-41.5%), from €143,506 to €83,963
mainly Contributions, distributions and other (-€148,511) and Current investments (-€82,026)
- Receivables within one year +€34,120
up €34,120 (+153%), from €22,319 to €56,439
- Deferred charges and accrued income +€7,168
up €7,168 (+79.3%), from €9,037 to €16,204
- Tangible fixed assets +€2,964
up €2,964 (+291%), from €1,019 to €3,983
- Other debts +€67,687
up €67,687 (+55.2%), from €122,611 to €190,297
- Short-term financial debts -€2,828
down €2,828 (-100%), from €2,828 to €0
- Gross operating margin +€41,169
up €41,169 (+26.7%), from €154,113 to €195,283
- Taxes +€8,601
up €8,601 (+24.7%), from €34,845 to €43,447
- Financial income -€6,251
down €6,251 (-79.3%), from €7,881 to €1,630
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 | €178,443 | €245,177 | +€66,734 | +37.4% |
| Fixed assets | 21/28 | €1,019 | €3,983 | +€2,964 | +291% |
| Tangible fixed assets | 22/27 | €1,019 | €3,983 | +€2,964 | +291% |
| Furniture and vehicles | 24 | €1,019 | €3,983 | +€2,964 | +291% |
| Current assets | 29/58 | €177,424 | €241,194 | +€63,770 | +35.9% |
| Amounts receivable within one year | 40/41 | €22,319 | €56,439 | +€34,120 | +153% |
| Other amounts receivable | 41 | €22,319 | €56,439 | +€34,120 | +153% |
| Current investments | 50/53 | €2,562 | €84,588 | +€82,026 | +3,201% |
| Cash at bank and in hand | 54/58 | €143,506 | €83,963 | -€59,543 | -41.5% |
| Deferred charges and accrued income | 490/1 | €9,037 | €16,204 | +€7,168 | +79.3% |
| Total equity and liabilities | 10/49 | €178,443 | €245,177 | +€66,734 | +37.4% |
| Equity | 10/15 | €45,000 | €45,000 | = | 0.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €40,000 | €40,000 | = | 0.0% |
| Distributable reserves | 133 | €40,000 | €40,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €133,443 | €200,177 | +€66,734 | +50.0% |
| Amounts payable within one year | 42/48 | €129,939 | €197,244 | +€67,305 | +51.8% |
| Financial debts | 43 | €2,828 | €0 | -€2,828 | -100% |
| Credit institutions | 430/8 | €2,828 | €0 | -€2,828 | -100% |
| Trade debts | 44 | €0 | - | = | |
| Suppliers | 440/4 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €4,500 | €6,947 | +€2,447 | +54.4% |
| Taxes | 450/3 | €4,500 | €6,947 | +€2,447 | +54.4% |
| Other amounts payable | 47/48 | €122,611 | €190,297 | +€67,687 | +55.2% |
| Accrued charges and deferred income | 492/3 | €3,504 | €2,933 | -€570 | -16.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €721 | €803 | +€82 | +11.3% |
| Other operating charges | 640/8 | €1,052 | €1,079 | +€27 | +2.6% |
| Gross operating margin | 9900 | €154,113 | €195,283 | +€41,169 | +26.7% |
| Operating profit (loss) | 9901 | €152,341 | €193,401 | +€41,061 | +27.0% |
| Financial income | 75/76B | €7,881 | €1,630 | -€6,251 | -79.3% |
| Recurring financial income | 75 | €7,881 | €1,630 | -€6,251 | -79.3% |
| Financial charges | 65/66B | €3,844 | €3,075 | -€770 | -20.0% |
| Recurring financial charges | 65 | €3,844 | €3,075 | -€770 | -20.0% |
| Profit (loss) for the period before taxes | 9903 | €156,378 | €191,957 | +€35,580 | +22.8% |
| Income taxes | 67/77 | €34,845 | €43,447 | +€8,601 | +24.7% |
| Profit (loss) for the period | 9904 | €121,532 | €148,511 | +€26,979 | +22.2% |
| Profit (loss) for the period to be appropriated | 9905 | €121,532 | €148,511 | +€26,979 | +22.2% |
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.