VANDE PUTTE: 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.
VANDE PUTTE
Largest movements
- Tangible fixed assets -€42,373
down €42,373 (-15.5%), from €273,423 to €231,049
of which Furniture and vehicles: -€32,167
- Receivables within one year -€36,729
down €36,729 (-92.6%), from €39,662 to €2,933
of which Trade receivables: -€37,357
- Cash +€8,932
up €8,932 (+11411.3%), from €78 to €9,010
mainly Depreciation (+€42,373) and Receivables within one year (+€36,729)
- Profit (loss) carried forward -€24,358
down €24,358 (-1662.1%), from -€1,466 to -€25,824
- Debts after one year -€17,950
no longer reported in 2025 (was €17,950)
- Other debts -€14,881
down €14,881 (-24.2%), from €61,527 to €46,646
- Current portion of long-term debt -€12,542
down €12,542 (-41.1%), from €30,492 to €17,950
- Trade debts +€3,629
new in 2025: €3,629
- Gross operating margin -€16,310
down €16,310 (-40.3%), from €40,463 to €24,153
- Depreciation -€6,985
down €6,985 (-14.2%), from €49,359 to €42,373
- Other operating charges +€800
up €800 (+16.9%), from €4,722 to €5,523
- Financial charges -€439
down €439 (-45.0%), from €975 to €536
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 | €349,550 | €280,859 | -€68,692 | -19.7% |
| Fixed assets | 21/28 | €273,423 | €231,049 | -€42,373 | -15.5% |
| Tangible fixed assets | 22/27 | €273,423 | €231,049 | -€42,373 | -15.5% |
| Land and buildings | 22 | €106,533 | €96,326 | -€10,207 | -9.6% |
| Furniture and vehicles | 24 | €166,890 | €134,723 | -€32,167 | -19.3% |
| Current assets | 29/58 | €76,127 | €49,809 | -€26,318 | -34.6% |
| Stocks and contracts in progress | 3 | €36,388 | €36,388 | = | 0.0% |
| Stocks | 30/36 | €36,388 | €36,388 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €39,662 | €2,933 | -€36,729 | -92.6% |
| Trade receivables | 40 | €39,469 | €2,112 | -€37,357 | -94.6% |
| Other amounts receivable | 41 | €192 | €821 | +€629 | +327.0% |
| Cash at bank and in hand | 54/58 | €78 | €9,010 | +€8,932 | +11411.3% |
| Deferred charges and accrued income | 490/1 | - | €1,479 | +€1,479 | |
| Total equity and liabilities | 10/49 | €349,550 | €280,859 | -€68,692 | -19.7% |
| Equity | 10/15 | €236,834 | €212,476 | -€24,358 | -10.3% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Capital | 10 | €200,000 | €200,000 | = | 0.0% |
| Issued capital | 100 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €38,300 | €38,300 | = | 0.0% |
| Non-distributable reserves | 130/1 | €20,000 | €20,000 | = | 0.0% |
| Legal reserve | 130 | €20,000 | €20,000 | = | 0.0% |
| Distributable reserves | 133 | €18,300 | €18,300 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,466 | -€25,824 | -€24,358 | -1662.1% |
| Amounts payable | 17/49 | €112,716 | €68,383 | -€44,334 | -39.3% |
| Amounts payable after more than one year | 17 | €17,950 | - | -€17,950 | |
| Financial debts | 170/4 | €17,950 | - | -€17,950 | |
| Amounts payable within one year | 42/48 | €94,766 | €68,383 | -€26,384 | -27.8% |
| Current portion of amounts payable after more than one year | 42 | €30,492 | €17,950 | -€12,542 | -41.1% |
| Trade debts | 44 | - | €3,629 | +€3,629 | |
| Suppliers | 440/4 | - | €3,629 | +€3,629 | |
| Taxes, remuneration and social security | 45 | €2,748 | €158 | -€2,590 | -94.3% |
| Taxes | 450/3 | €2,748 | €158 | -€2,590 | -94.3% |
| Other amounts payable | 47/48 | €61,527 | €46,646 | -€14,881 | -24.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,359 | €42,373 | -€6,985 | -14.2% |
| Other operating charges | 640/8 | €4,722 | €5,523 | +€800 | +16.9% |
| Gross operating margin | 9900 | €40,463 | €24,153 | -€16,310 | -40.3% |
| Operating profit (loss) | 9901 | -€13,618 | -€23,743 | -€10,125 | -74.3% |
| Financial income | 75/76B | €12 | €79 | +€67 | +554.8% |
| Recurring financial income | 75 | €12 | €79 | +€67 | +554.8% |
| Financial charges | 65/66B | €975 | €536 | -€439 | -45.0% |
| Recurring financial charges | 65 | €975 | €536 | -€439 | -45.0% |
| Profit (loss) for the period before taxes | 9903 | -€14,581 | -€24,200 | -€9,619 | -66.0% |
| Income taxes | 67/77 | - | €158 | +€158 | |
| Profit (loss) for the period | 9904 | -€14,581 | -€24,358 | -€9,777 | -67.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,581 | -€24,358 | -€9,777 | -67.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.