VANDAEN: what changed
Two fiscal 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.
VANDAEN
Largest movements
- Current investments -€26,829
down €26,829 (-2.5%), from €1.1m to €1.0m
- Tax, wage and social debts -€13,852
no longer reported in 2025 (was €13,852)
- Gross operating margin -€68,867
down €68,867, from €44,941 to -€23,926
- Taxes -€21,887
down €21,887, from €21,887 to -€0
- Financial income +€3,195
up €3,195 (+11.0%), from €28,918 to €32,113
- Financial charges +€2,791
up €2,791 (+697.2%), from €400 to €3,191
- Depreciation -€1,304
down €1,304 (-48.5%), from €2,690 to €1,386
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 | €1,286,841 | €1,274,655 | -€12,187 | -0.9% |
| Fixed assets | 21/28 | €140,889 | €141,597 | +€708 | +0.5% |
| Tangible fixed assets | 22/27 | €140,889 | €141,597 | +€708 | +0.5% |
| Land and buildings | 22 | €140,394 | €139,647 | -€747 | -0.5% |
| Plant, machinery and equipment | 23 | €495 | €1,950 | +€1,455 | +293.9% |
| Current assets | 29/58 | €1,145,952 | €1,133,057 | -€12,895 | -1.1% |
| Amounts receivable within one year | 40/41 | - | €9,634 | +€9,634 | |
| Other amounts receivable | 41 | - | €9,634 | +€9,634 | |
| Current investments | 50/53 | €1,075,743 | €1,048,914 | -€26,829 | -2.5% |
| Cash at bank and in hand | 54/58 | €70,209 | €74,509 | +€4,300 | +6.1% |
| Total equity and liabilities | 10/49 | €1,286,841 | €1,274,655 | -€12,187 | -0.9% |
| Equity | 10/15 | €1,166,559 | €1,166,263 | -€296 | 0.0% |
| Contributions | 10/11 | €298,000 | €298,000 | = | 0.0% |
| Capital | 10 | €298,000 | €298,000 | = | 0.0% |
| Issued capital | 100 | €298,000 | €298,000 | = | 0.0% |
| Reserves | 13 | €627,356 | €627,356 | = | 0.0% |
| Non-distributable reserves | 130/1 | €29,800 | €29,800 | = | 0.0% |
| Legal reserve | 130 | €29,800 | €29,800 | = | 0.0% |
| Distributable reserves | 133 | €597,556 | €597,556 | = | 0.0% |
| Profit (loss) carried forward | 14 | €241,203 | €240,906 | -€296 | -0.1% |
| Amounts payable | 17/49 | €120,282 | €108,392 | -€11,891 | -9.9% |
| Amounts payable within one year | 42/48 | €120,282 | €108,392 | -€11,891 | -9.9% |
| Trade debts | 44 | €2,423 | €693 | -€1,730 | -71.4% |
| Suppliers | 440/4 | €2,423 | €693 | -€1,730 | -71.4% |
| Taxes, remuneration and social security | 45 | €13,852 | - | -€13,852 | |
| Taxes | 450/3 | €13,852 | - | -€13,852 | |
| Other amounts payable | 47/48 | €104,008 | €107,699 | +€3,691 | +3.5% |
| Non-recurring operating income | 76A | €72,563 | - | -€72,563 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,690 | €1,386 | -€1,304 | -48.5% |
| Other operating charges | 640/8 | €3,930 | €3,906 | -€24 | -0.6% |
| Gross operating margin | 9900 | €44,941 | -€23,926 | -€68,867 | |
| Operating profit (loss) | 9901 | €38,321 | -€29,219 | -€67,539 | |
| Financial income | 75/76B | €28,918 | €32,113 | +€3,195 | +11.0% |
| Recurring financial income | 75 | €28,918 | €32,113 | +€3,195 | +11.0% |
| Financial charges | 65/66B | €400 | €3,191 | +€2,791 | +697.2% |
| Recurring financial charges | 65 | €400 | €3,191 | +€2,791 | +697.2% |
| Profit (loss) for the period before taxes | 9903 | €66,839 | -€296 | -€67,135 | |
| Income taxes | 67/77 | €21,887 | -€0 | -€21,887 | |
| Profit (loss) for the period | 9904 | €44,952 | -€296 | -€45,248 | |
| Profit (loss) for the period to be appropriated | 9905 | €44,952 | -€296 | -€45,248 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.