VANDAPHAR: 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.
VANDAPHAR
Largest movements
- Receivables within one year +€61,430
up €61,430 (+157%), from €39,185 to €100,616
of which Other amounts receivable: +€61,430
- Cash -€40,552
down €40,552 (-72.8%), from €55,679 to €15,127
mainly Receivables within one year (-€61,430) and Other debts (-€26,268)
- Reserves +€47,177
up €47,177 (+112%), from €42,237 to €89,413
- Other debts -€26,268
down €26,268 (-100%), from €26,268 to €0
- Depreciation -€15,000
down €15,000 (-100%), from €15,000 to €0
- Taxes +€3,913
up €3,913 (+33.1%), from €11,813 to €15,726
- Financial charges -€2,235
down €2,235 (-94.5%), from €2,366 to €130
- Financial income -€1,305
down €1,305 (-100%), from €1,305 to €0
- Gross operating margin +€1,006
up €1,006 (+1.6%), from €62,567 to €63,572
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 | €94,865 | €115,762 | +€20,897 | +22.0% |
| Fixed assets | 21/28 | €0 | - | = | |
| Intangible fixed assets | 21 | €0 | - | = | |
| Current assets | 29/58 | €94,865 | €115,762 | +€20,897 | +22.0% |
| Amounts receivable within one year | 40/41 | €39,185 | €100,616 | +€61,430 | +157% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €39,185 | €100,616 | +€61,430 | +157% |
| Cash at bank and in hand | 54/58 | €55,679 | €15,127 | -€40,552 | -72.8% |
| Deferred charges and accrued income | 490/1 | €0 | €19 | +€19 | |
| Total equity and liabilities | 10/49 | €94,865 | €115,762 | +€20,897 | +22.0% |
| Equity | 10/15 | €67,237 | €114,413 | +€47,177 | +70.2% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €42,237 | €89,413 | +€47,177 | +112% |
| Distributable reserves | 133 | €42,237 | €89,413 | +€47,177 | +112% |
| Amounts payable | 17/49 | €27,628 | €1,349 | -€26,280 | -95.1% |
| Amounts payable within one year | 42/48 | €27,628 | €1,349 | -€26,280 | -95.1% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €761 | €623 | -€138 | -18.2% |
| Suppliers | 440/4 | €761 | €623 | -€138 | -18.2% |
| Taxes, remuneration and social security | 45 | €598 | €726 | +€127 | +21.2% |
| Taxes | 450/3 | €598 | €726 | +€127 | +21.2% |
| Other amounts payable | 47/48 | €26,268 | €0 | -€26,268 | -100% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,000 | €0 | -€15,000 | -100% |
| Other operating charges | 640/8 | €513 | €540 | +€26 | +5.2% |
| Gross operating margin | 9900 | €62,567 | €63,572 | +€1,006 | +1.6% |
| Operating profit (loss) | 9901 | €47,053 | €63,033 | +€15,979 | +34.0% |
| Financial income | 75/76B | €1,305 | €0 | -€1,305 | -100% |
| Recurring financial income | 75 | €1,305 | €0 | -€1,305 | -100% |
| Financial charges | 65/66B | €2,366 | €130 | -€2,235 | -94.5% |
| Recurring financial charges | 65 | €2,366 | €130 | -€2,235 | -94.5% |
| Profit (loss) for the period before taxes | 9903 | €45,993 | €62,902 | +€16,909 | +36.8% |
| Income taxes | 67/77 | €11,813 | €15,726 | +€3,913 | +33.1% |
| Profit (loss) for the period | 9904 | €34,180 | €47,177 | +€12,997 | +38.0% |
| Profit (loss) for the period to be appropriated | 9905 | €34,180 | €47,177 | +€12,997 | +38.0% |
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 19 October 2026 via checked.be.