VANDE: 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.
What changed
VANDE
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€156,785
2024 · €28,527+€128,259
Equity
€850,572
2024 · €783,945+€66,627
Cash
€10,015
2024 · €712+€9,303
Balance sheet total
€2.1m
2024 · €1.2m+€841,783
Largest movements
Assets
- Tangible fixed assets +€861,771
up €861,771 (+282%), from €305,792 to €1.2m
of which Land and buildings: +€1.0m
Equity and liabilities
- Debts after one year +€811,943
new in 2025: €811,943
- Trade debts -€141,067
down €141,067 (-79.0%), from €178,498 to €37,431
- Profit (loss) carried forward +€132,876
up €132,876 (+37.9%), from €350,591 to €483,467
- Tax, wage and social debts +€64,598
up €64,598 (+1,538%), from €4,199 to €68,797
of which Taxes: +€55,938
- Provisions +€63,474
up €63,474 (+88.2%), from €71,933 to €135,407
of which Deferred taxes: +€63,474
Income statement
- Gross operating margin +€277,902
up €277,902 (+342%), from €81,214 to €359,117
- Taxes +€45,828
up €45,828 (+827%), from €5,539 to €51,366
- Write-downs +€29,414
new in 2025: €29,414
- Depreciation +€23,711
up €23,711 (+799%), from €2,966 to €26,677
- Financial charges +€18,336
up €18,336 (+832%), from €2,203 to €20,539
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.
Result 2024
€28,527
Gross operating margin
+€277,902
Staff costs
-€2,908
Depreciation
-€23,711
Write-downs
-€29,414
Other operating charges
-€11,422
Other operating items
-€13,218
Financial income
+€832
Financial charges
-€18,336
Taxes
-€45,828
Deferred taxes and other
-€5,639
Result 2025
€156,785
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€145,266
Investment
-€888,448
Financing
+€752,485
Cash 2024
€712
From operations (derived)
+€145,266
Net result for the year
+€156,785
Depreciation
+€26,677
Receivables within one year
+€20,245
Deferred charges and accrued income
+€9,047
Provisions
+€63,474
Trade debts
-€141,067
Tax, wage and social debts
+€64,598
Other debts
-€41,892
Accrued charges and deferred income
-€12,600
Investment (derived)
-€888,448
Investment in fixed assets (net)
-€888,448
Financing
+€752,485
Debts after one year
+€811,943
Current portion of long-term debt
+€30,701
Contributions, distributions and other
-€90,159
Cash 2025
€10,015
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,226,961 | €2,068,744 | +€841,783 | +68.6% |
| Fixed assets | 21/28 | €582,711 | €1,444,482 | +€861,771 | +148% |
| Tangible fixed assets | 22/27 | €305,792 | €1,167,563 | +€861,771 | +282% |
| Land and buildings | 22 | €150,747 | €1,155,002 | +€1.0m | +666% |
| Plant, machinery and equipment | 23 | €139,962 | - | -€139,962 | |
| Furniture and vehicles | 24 | €15,083 | €12,561 | -€2,521 | -16.7% |
| Financial fixed assets | 28 | €276,919 | €276,919 | = | 0.0% |
| Current assets | 29/58 | €644,251 | €624,262 | -€19,988 | -3.1% |
| Amounts receivable within one year | 40/41 | €600,153 | €579,908 | -€20,245 | -3.4% |
| Trade receivables | 40 | €390,598 | €386,106 | -€4,492 | -1.1% |
| Other amounts receivable | 41 | €209,555 | €193,802 | -€15,753 | -7.5% |
| Current investments | 50/53 | €32,321 | €32,321 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €712 | €10,015 | +€9,303 | +1,307% |
| Deferred charges and accrued income | 490/1 | €11,066 | €2,019 | -€9,047 | -81.8% |
| Total equity and liabilities | 10/49 | €1,226,961 | €2,068,744 | +€841,783 | +68.6% |
| Equity | 10/15 | €783,945 | €850,572 | +€66,627 | +8.5% |
| Contributions | 10/11 | €106,763 | €106,763 | = | 0.0% |
| Capital | 10 | - | €106,763 | +€106,763 | |
| Issued capital | 100 | - | €106,763 | +€106,763 | |
| Contributions outside capital | 11 | €106,763 | - | -€106,763 | |
| Other | 1109/19 | €106,763 | - | -€106,763 | |
| Revaluation surpluses | 12 | €31,582 | - | -€31,582 | |
| Reserves | 13 | €295,010 | €260,343 | -€34,667 | -11.8% |
| Non-distributable reserves | 130/1 | €10,676 | €10,676 | = | 0.0% |
| Reserves not available under the articles | 1311 | €10,676 | €10,676 | = | 0.0% |
| Tax-exempt reserves | 132 | €284,334 | €249,666 | -€34,667 | -12.2% |
| Profit (loss) carried forward | 14 | €350,591 | €483,467 | +€132,876 | +37.9% |
| Provisions and deferred taxes | 16 | €71,933 | €135,407 | +€63,474 | +88.2% |
| Provisions for liabilities and charges | 160/5 | €50,000 | €50,000 | = | 0.0% |
| Major repairs and maintenance | 162 | €50,000 | €50,000 | = | 0.0% |
| Deferred taxes | 168 | €21,933 | €85,407 | +€63,474 | +289% |
| Amounts payable | 17/49 | €371,083 | €1,082,765 | +€711,682 | +192% |
| Amounts payable after more than one year | 17 | - | €811,943 | +€811,943 | |
| Financial debts | 170/4 | - | €811,943 | +€811,943 | |
| Amounts payable within one year | 42/48 | €339,775 | €252,114 | -€87,661 | -25.8% |
| Current portion of amounts payable after more than one year | 42 | - | €30,701 | +€30,701 | |
| Trade debts | 44 | €178,498 | €37,431 | -€141,067 | -79.0% |
| Suppliers | 440/4 | €178,498 | €37,431 | -€141,067 | -79.0% |
| Taxes, remuneration and social security | 45 | €4,199 | €68,797 | +€64,598 | +1,538% |
| Taxes | 450/3 | €3,716 | €59,654 | +€55,938 | +1,505% |
| Remuneration and social security | 454/9 | €483 | €9,143 | +€8,660 | +1,793% |
| Other amounts payable | 47/48 | €157,078 | €115,186 | -€41,892 | -26.7% |
| Accrued charges and deferred income | 492/3 | €31,308 | €18,708 | -€12,600 | -40.2% |
| Remuneration, social security and pensions | 62 | €35,221 | €38,130 | +€2,908 | +8.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,966 | €26,677 | +€23,711 | +799% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €29,414 | +€29,414 | |
| Other operating charges | 640/8 | €7,508 | €18,929 | +€11,422 | +152% |
| Non-recurring operating charges | 66A | - | €13,218 | +€13,218 | |
| Gross operating margin | 9900 | €81,214 | €359,117 | +€277,902 | +342% |
| Operating profit (loss) | 9901 | €35,519 | €232,749 | +€197,230 | +555% |
| Financial income | 75/76B | €8 | €839 | +€832 | +11,093% |
| Recurring financial income | 75 | €8 | €839 | +€832 | +11,093% |
| Financial charges | 65/66B | €2,203 | €20,539 | +€18,336 | +832% |
| Recurring financial charges | 65 | €2,203 | €20,539 | +€18,336 | +832% |
| Profit (loss) for the period before taxes | 9903 | €33,324 | €213,050 | +€179,726 | +539% |
| Transfer from deferred taxes | 780 | €742 | €687 | -€54 | -7.3% |
| Transfer to deferred taxes | 680 | - | €5,585 | +€5,585 | |
| Income taxes | 67/77 | €5,539 | €51,366 | +€45,828 | +827% |
| Profit (loss) for the period | 9904 | €28,527 | €156,785 | +€128,259 | +450% |
| Transfer from tax-exempt reserves | 789 | €2,225 | €15,185 | +€12,961 | +583% |
| Transfer to tax-exempt reserves | 689 | - | €39,095 | +€39,095 | |
| Profit (loss) for the period to be appropriated | 9905 | €30,751 | €132,876 | +€102,125 | +332% |
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 31 October 2026 via checked.be.