Vande Pitte: 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.
Vande Pitte
Largest movements
- Receivables within one year +€580,695
up €580,695 (+25.0%), from €2.3m to €2.9m
of which Trade receivables: +€430,695
- Cash -€41,892
down €41,892 (-32.7%), from €128,216 to €86,324
mainly Receivables within one year (-€580,695) and Contributions, distributions and other (-€48,513)
- Debts after one year +€276,737
up €276,737 (+53.8%), from €514,746 to €791,483
- Trade debts +€147,725
up €147,725 (+18.4%), from €804,769 to €952,494
- Reserves +€50,000
up €50,000 (+3.3%), from €1.5m to €1.6m
of which Distributable reserves: +€50,000
- Current portion of long-term debt +€42,298
up €42,298 (+26.8%), from €157,575 to €199,873
- Gross operating margin -€58,069
down €58,069 (-23.2%), from €250,359 to €192,290
- Taxes -€36,546
down €36,546 (-60.9%), from €60,000 to €23,454
- Financial income -€18,766
no longer reported in 2025 (was €18,766)
of which Financial income: -€18,766
- Staff costs -€3,691
down €3,691 (-29.3%), from €12,588 to €8,897
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 | €3,352,148 | €3,862,859 | +€510,711 | +15.2% |
| Fixed assets | 21/28 | €899,736 | €871,644 | -€28,092 | -3.1% |
| Tangible fixed assets | 22/27 | €894,976 | €866,884 | -€28,092 | -3.1% |
| Land and buildings | 22 | €178,673 | €178,673 | = | 0.0% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €4,636 | €4,636 | = | 0.0% |
| Other tangible fixed assets | 26 | €711,667 | €683,575 | -€28,092 | -3.9% |
| Financial fixed assets | 28 | €4,760 | €4,760 | = | 0.0% |
| Current assets | 29/58 | €2,452,412 | €2,991,215 | +€538,803 | +22.0% |
| Amounts receivable within one year | 40/41 | €2,324,196 | €2,904,891 | +€580,695 | +25.0% |
| Trade receivables | 40 | €2,324,196 | €2,754,891 | +€430,695 | +18.5% |
| Other amounts receivable | 41 | - | €150,000 | +€150,000 | |
| Cash at bank and in hand | 54/58 | €128,216 | €86,324 | -€41,892 | -32.7% |
| Total equity and liabilities | 10/49 | €3,352,148 | €3,862,859 | +€510,711 | +15.2% |
| Equity | 10/15 | €1,649,558 | €1,701,009 | +€51,451 | +3.1% |
| Contributions | 10/11 | €136,400 | €136,400 | = | 0.0% |
| Reserves | 13 | €1,504,500 | €1,554,500 | +€50,000 | +3.3% |
| Tax-exempt reserves | 132 | €4,500 | €4,500 | = | 0.0% |
| Distributable reserves | 133 | €1,500,000 | €1,550,000 | +€50,000 | +3.3% |
| Profit (loss) carried forward | 14 | €8,658 | €10,109 | +€1,451 | +16.8% |
| Provisions and deferred taxes | 16 | €19,000 | €19,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €19,000 | €19,000 | = | 0.0% |
| Pensions and similar obligations | 160 | €19,000 | €19,000 | = | 0.0% |
| Amounts payable | 17/49 | €1,683,590 | €2,142,850 | +€459,260 | +27.3% |
| Amounts payable after more than one year | 17 | €514,746 | €791,483 | +€276,737 | +53.8% |
| Other amounts payable | 178/9 | €514,746 | €791,483 | +€276,737 | +53.8% |
| Amounts payable within one year | 42/48 | €1,168,844 | €1,351,367 | +€182,523 | +15.6% |
| Current portion of amounts payable after more than one year | 42 | €157,575 | €199,873 | +€42,298 | +26.8% |
| Trade debts | 44 | €804,769 | €952,494 | +€147,725 | +18.4% |
| Suppliers | 440/4 | €804,769 | €952,494 | +€147,725 | +18.4% |
| Taxes, remuneration and social security | 45 | €82,402 | €81,887 | -€515 | -0.6% |
| Taxes | 450/3 | €82,402 | €81,887 | -€515 | -0.6% |
| Other amounts payable | 47/48 | €124,098 | €117,113 | -€6,985 | -5.6% |
| Remuneration, social security and pensions | 62 | €12,588 | €8,897 | -€3,691 | -29.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,325 | €28,092 | -€233 | -0.8% |
| Other operating charges | 640/8 | €1,834 | €1,822 | -€12 | -0.7% |
| Gross operating margin | 9900 | €250,359 | €192,290 | -€58,069 | -23.2% |
| Operating profit (loss) | 9901 | €207,612 | €153,479 | -€54,133 | -26.1% |
| Financial income | 75/76B | €18,766 | - | -€18,766 | |
| Recurring financial income | 75 | €18,766 | - | -€18,766 | |
| Non-recurring financial income | 76B | €18,766 | - | -€18,766 | |
| Financial charges | 65/66B | €29,725 | €30,061 | +€336 | +1.1% |
| Recurring financial charges | 65 | €29,725 | €30,061 | +€336 | +1.1% |
| Profit (loss) for the period before taxes | 9903 | €196,653 | €123,418 | -€73,235 | -37.2% |
| Income taxes | 67/77 | €60,000 | €23,454 | -€36,546 | -60.9% |
| Profit (loss) for the period | 9904 | €136,653 | €99,964 | -€36,689 | -26.8% |
| Profit (loss) for the period to be appropriated | 9905 | €136,653 | €99,964 | -€36,689 | -26.8% |
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 1 November 2026 via checked.be.