VANDAVEE: 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.
VANDAVEE
Largest movements
- Tangible fixed assets -€13,978
down €13,978 (-26.8%), from €52,153 to €38,176
- Stocks and contracts -€11,985
down €11,985 (-8.5%), from €141,500 to €129,515
- Receivables within one year -€10,205
down €10,205 (-43.4%), from €23,487 to €13,283
of which Trade receivables: -€10,375
- Cash +€3,714
up €3,714 (+559.7%), from €664 to €4,378
mainly Other debts (+€16,614) and Depreciation (+€14,572)
- Trade debts -€38,836
down €38,836 (-32.4%), from €120,010 to €81,174
- Other debts +€16,614
up €16,614 (+6.3%), from €264,204 to €280,819
- Current portion of long-term debt -€6,136
down €6,136 (-51.4%), from €11,934 to €5,798
- Debts after one year -€5,798
down €5,798 (-64.4%), from €9,010 to €3,212
- Gross operating margin -€3,015
down €3,015 (-12.8%), from €23,647 to €20,632
- Other operating charges -€2,295
down €2,295 (-39.2%), from €5,855 to €3,559
- Financial income +€812
up €812 (+8075.2%), from €10 to €822
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 | €218,399 | €185,351 | -€33,048 | -15.1% |
| Fixed assets | 21/28 | €52,748 | €38,176 | -€14,572 | -27.6% |
| Intangible fixed assets | 21 | €594 | €0 | -€594 | -100.0% |
| Tangible fixed assets | 22/27 | €52,153 | €38,176 | -€13,978 | -26.8% |
| Land and buildings | 22 | €42,550 | €36,472 | -€6,078 | -14.3% |
| Plant, machinery and equipment | 23 | €2,458 | €1,458 | -€1,000 | -40.7% |
| Furniture and vehicles | 24 | €7,146 | €246 | -€6,900 | -96.6% |
| Current assets | 29/58 | €165,651 | €147,175 | -€18,476 | -11.2% |
| Stocks and contracts in progress | 3 | €141,500 | €129,515 | -€11,985 | -8.5% |
| Stocks | 30/36 | €141,500 | €129,515 | -€11,985 | -8.5% |
| Amounts receivable within one year | 40/41 | €23,487 | €13,283 | -€10,205 | -43.4% |
| Trade receivables | 40 | €23,487 | €13,113 | -€10,375 | -44.2% |
| Other amounts receivable | 41 | €0 | €170 | +€170 | |
| Cash at bank and in hand | 54/58 | €664 | €4,378 | +€3,714 | +559.7% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €218,399 | €185,351 | -€33,048 | -15.1% |
| Equity | 10/15 | -€188,576 | -€186,600 | +€1,976 | +1.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,832 | €1,832 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,832 | €1,832 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,832 | €1,832 | = | 0.0% |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | -€209,000 | -€207,024 | +€1,976 | +0.9% |
| Amounts payable | 17/49 | €406,975 | €371,951 | -€35,024 | -8.6% |
| Amounts payable after more than one year | 17 | €9,010 | €3,212 | -€5,798 | -64.4% |
| Financial debts | 170/4 | €9,010 | €3,212 | -€5,798 | -64.4% |
| Amounts payable within one year | 42/48 | €397,965 | €368,739 | -€29,226 | -7.3% |
| Current portion of amounts payable after more than one year | 42 | €11,934 | €5,798 | -€6,136 | -51.4% |
| Trade debts | 44 | €120,010 | €81,174 | -€38,836 | -32.4% |
| Suppliers | 440/4 | €120,010 | €81,174 | -€38,836 | -32.4% |
| Taxes, remuneration and social security | 45 | €1,816 | €948 | -€868 | -47.8% |
| Taxes | 450/3 | €1,816 | €948 | -€868 | -47.8% |
| Other amounts payable | 47/48 | €264,204 | €280,819 | +€16,614 | +6.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,572 | €14,572 | = | 0.0% |
| Other operating charges | 640/8 | €5,855 | €3,559 | -€2,295 | -39.2% |
| Gross operating margin | 9900 | €23,647 | €20,632 | -€3,015 | -12.8% |
| Operating profit (loss) | 9901 | €3,220 | €2,500 | -€720 | -22.4% |
| Financial income | 75/76B | €10 | €822 | +€812 | +8075.2% |
| Recurring financial income | 75 | €10 | €822 | +€812 | +8075.2% |
| Financial charges | 65/66B | €1,437 | €1,347 | -€90 | -6.3% |
| Recurring financial charges | 65 | €1,437 | €1,347 | -€90 | -6.3% |
| Profit (loss) for the period before taxes | 9903 | €1,793 | €1,976 | +€182 | +10.2% |
| Profit (loss) for the period | 9904 | €1,793 | €1,976 | +€182 | +10.2% |
| Profit (loss) for the period to be appropriated | 9905 | €1,793 | €1,976 | +€182 | +10.2% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.