VANDE RIVIERE: what changed
VANDE RIVIERE
Largest movements
- Tangible fixed assets -€21,860
down €21,860 (-22.7%), from €96,511 to €74,651
of which Furniture and vehicles: -€15,532
- Receivables within one year -€7,985
down €7,985 (-38.4%), from €20,775 to €12,791
of which Trade receivables: -€6,314
- Cash -€7,562
down €7,562 (-26.8%), from €28,198 to €20,636
mainly Debts after one year (-€31,137) and Other debts (-€8,776)
- Intangible fixed assets -€2,100
down €2,100 (-33.3%), from €6,300 to €4,200
- Debts after one year -€31,137
down €31,137 (-49.7%), from €62,697 to €31,559
- Other debts -€8,776
down €8,776 (-46.5%), from €18,890 to €10,113
- Accrued charges and deferred income -€5,996
down €5,996 (-78.9%), from €7,597 to €1,601
- Trade debts +€3,925
up €3,925 (+120%), from €3,272 to €7,196
- Profit (loss) carried forward +€2,023
up €2,023 (+41.7%), from -€4,854 to -€2,830
- Depreciation +€2,270
up €2,270 (+8.1%), from €28,027 to €30,298
- Financial charges -€1,051
down €1,051 (-16.6%), from €6,321 to €5,270
- Gross operating margin -€959
down €959 (-1.9%), from €49,900 to €48,941
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €165,651 | €126,033 | -€39,619 | -23.9% |
| Formation expenses | 20 | €2,752 | €1,835 | -€917 | -33.3% |
| Fixed assets | 21/28 | €111,811 | €87,851 | -€23,960 | -21.4% |
| Intangible fixed assets | 21 | €6,300 | €4,200 | -€2,100 | -33.3% |
| Tangible fixed assets | 22/27 | €96,511 | €74,651 | -€21,860 | -22.7% |
| Plant, machinery and equipment | 23 | - | €3,306 | +€3,306 | |
| Furniture and vehicles | 24 | €59,609 | €44,078 | -€15,532 | -26.1% |
| Leasing and similar rights | 25 | €36,902 | €27,267 | -€9,635 | -26.1% |
| Financial fixed assets | 28 | €9,000 | €9,000 | = | 0.0% |
| Current assets | 29/58 | €51,088 | €36,347 | -€14,741 | -28.9% |
| Amounts receivable within one year | 40/41 | €20,775 | €12,791 | -€7,985 | -38.4% |
| Trade receivables | 40 | €17,900 | €11,586 | -€6,314 | -35.3% |
| Other amounts receivable | 41 | €2,875 | €1,205 | -€1,670 | -58.1% |
| Cash at bank and in hand | 54/58 | €28,198 | €20,636 | -€7,562 | -26.8% |
| Deferred charges and accrued income | 490/1 | €2,115 | €2,921 | +€806 | +38.1% |
| Total equity and liabilities | 10/49 | €165,651 | €126,033 | -€39,619 | -23.9% |
| Equity | 10/15 | €39,472 | €41,496 | +€2,023 | +5.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €25,734 | €25,734 | = | 0.0% |
| Distributable reserves | 133 | €25,734 | €25,734 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,854 | -€2,830 | +€2,023 | +41.7% |
| Amounts payable | 17/49 | €126,179 | €84,537 | -€41,642 | -33.0% |
| Amounts payable after more than one year | 17 | €62,697 | €31,559 | -€31,137 | -49.7% |
| Financial debts | 170/4 | €62,697 | €31,559 | -€31,137 | -49.7% |
| Amounts payable within one year | 42/48 | €55,885 | €51,376 | -€4,509 | -8.1% |
| Current portion of amounts payable after more than one year | 42 | €29,543 | €31,137 | +€1,594 | +5.4% |
| Trade debts | 44 | €3,272 | €7,196 | +€3,925 | +120% |
| Suppliers | 440/4 | €3,272 | €7,196 | +€3,925 | +120% |
| Taxes, remuneration and social security | 45 | €4,181 | €2,929 | -€1,251 | -29.9% |
| Taxes | 450/3 | €4,181 | €2,929 | -€1,251 | -29.9% |
| Other amounts payable | 47/48 | €18,890 | €10,113 | -€8,776 | -46.5% |
| Accrued charges and deferred income | 492/3 | €7,597 | €1,601 | -€5,996 | -78.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,027 | €30,298 | +€2,270 | +8.1% |
| Other operating charges | 640/8 | €10,888 | €11,055 | +€167 | +1.5% |
| Gross operating margin | 9900 | €49,900 | €48,941 | -€959 | -1.9% |
| Operating profit (loss) | 9901 | €10,985 | €7,588 | -€3,397 | -30.9% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €6,321 | €5,270 | -€1,051 | -16.6% |
| Recurring financial charges | 65 | €6,321 | €5,270 | -€1,051 | -16.6% |
| Profit (loss) for the period before taxes | 9903 | €4,664 | €2,318 | -€2,346 | -50.3% |
| Income taxes | 67/77 | €224 | €295 | +€71 | +31.8% |
| Profit (loss) for the period | 9904 | €4,441 | €2,023 | -€2,417 | -54.4% |
| Profit (loss) for the period to be appropriated | 9905 | €4,441 | €2,023 | -€2,417 | -54.4% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.