Vandams: 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.
Vandams
Largest movements
- Tangible fixed assets -€8,346
down €8,346 (-2.8%), from €299,106 to €290,759
of which Plant, machinery and equipment: -€19,637
- Cash -€7,211
down €7,211 (-32.6%), from €22,118 to €14,908
mainly Investment in fixed assets (net) (-€39,230) and Debts after one year (-€13,704)
- Receivables within one year +€7,007
up €7,007 (+148%), from €4,724 to €11,731
of which Other amounts receivable: +€5,462
- Stocks and contracts +€6,723
up €6,723 (+2.9%), from €230,480 to €237,203
- Debts after one year -€13,704
down €13,704 (-3.2%), from €434,978 to €421,273
- Trade debts +€11,155
up €11,155 (+8,695%), from €128 to €11,284
- Gross operating margin -€7,351
down €7,351 (-12.2%), from €60,340 to €52,989
- Depreciation +€7,032
up €7,032 (+17.3%), from €40,544 to €47,577
- Financial charges +€740
up €740 (+35.0%), from €2,117 to €2,857
- Other operating charges -€605
down €605 (-23.1%), from €2,617 to €2,012
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 | €557,051 | €555,363 | -€1,688 | -0.3% |
| Fixed assets | 21/28 | €299,106 | €290,759 | -€8,346 | -2.8% |
| Tangible fixed assets | 22/27 | €299,106 | €290,759 | -€8,346 | -2.8% |
| Land and buildings | 22 | €173,900 | €165,640 | -€8,260 | -4.7% |
| Plant, machinery and equipment | 23 | €77,714 | €58,077 | -€19,637 | -25.3% |
| Furniture and vehicles | 24 | €47,492 | €67,042 | +€19,551 | +41.2% |
| Current assets | 29/58 | €257,945 | €264,603 | +€6,659 | +2.6% |
| Stocks and contracts in progress | 3 | €230,480 | €237,203 | +€6,723 | +2.9% |
| Stocks | 30/36 | €230,480 | €237,203 | +€6,723 | +2.9% |
| Amounts receivable within one year | 40/41 | €4,724 | €11,731 | +€7,007 | +148% |
| Trade receivables | 40 | €2,768 | €4,312 | +€1,544 | +55.8% |
| Other amounts receivable | 41 | €1,957 | €7,419 | +€5,462 | +279% |
| Cash at bank and in hand | 54/58 | €22,118 | €14,908 | -€7,211 | -32.6% |
| Deferred charges and accrued income | 490/1 | €622 | €762 | +€140 | +22.4% |
| Total equity and liabilities | 10/49 | €557,051 | €555,363 | -€1,688 | -0.3% |
| Equity | 10/15 | -€120,637 | -€119,939 | +€697 | +0.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€139,237 | -€138,539 | +€697 | +0.5% |
| Amounts payable | 17/49 | €677,687 | €675,302 | -€2,385 | -0.4% |
| Amounts payable after more than one year | 17 | €434,978 | €421,273 | -€13,704 | -3.2% |
| Financial debts | 170/4 | €434,978 | €421,273 | -€13,704 | -3.2% |
| Amounts payable within one year | 42/48 | €242,710 | €254,029 | +€11,319 | +4.7% |
| Current portion of amounts payable after more than one year | 42 | €12,790 | €13,498 | +€708 | +5.5% |
| Financial debts | 43 | - | €287 | +€287 | |
| Credit institutions | 430/8 | - | €287 | +€287 | |
| Trade debts | 44 | €128 | €11,284 | +€11,155 | +8,695% |
| Suppliers | 440/4 | €128 | €11,284 | +€11,155 | +8,695% |
| Advances received on contracts in progress | 46 | €39 | - | -€39 | |
| Other amounts payable | 47/48 | €229,752 | €228,961 | -€792 | -0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,544 | €47,577 | +€7,032 | +17.3% |
| Other operating charges | 640/8 | €2,617 | €2,012 | -€605 | -23.1% |
| Gross operating margin | 9900 | €60,340 | €52,989 | -€7,351 | -12.2% |
| Operating profit (loss) | 9901 | €17,179 | €3,401 | -€13,778 | -80.2% |
| Financial income | 75/76B | €20 | €154 | +€135 | +678% |
| Recurring financial income | 75 | €20 | €154 | +€135 | +678% |
| Financial charges | 65/66B | €2,117 | €2,857 | +€740 | +35.0% |
| Recurring financial charges | 65 | €2,117 | €2,857 | +€740 | +35.0% |
| Profit (loss) for the period before taxes | 9903 | €15,082 | €697 | -€14,384 | -95.4% |
| Profit (loss) for the period | 9904 | €15,082 | €697 | -€14,384 | -95.4% |
| Profit (loss) for the period to be appropriated | 9905 | €15,082 | €697 | -€14,384 | -95.4% |
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 16 October 2026 via checked.be.