VANDEBEEK: 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.
VANDEBEEK
Largest movements
- Current investments -€170,000
down €170,000 (-100%), from €170,000 to €0
- Cash +€149,627
up €149,627 (+317%), from €47,159 to €196,787
mainly Current investments (+€170,000) and Net result for the year (+€124,254)
- Tangible fixed assets -€12,630
down €12,630 (-6.0%), from €210,401 to €197,771
of which Land and buildings: -€12,212
- Deferred charges and accrued income -€6,824
down €6,824 (-72.7%), from €9,391 to €2,567
- Trade debts -€24,172
down €24,172 (-80.9%), from €29,874 to €5,701
- Debts after one year -€11,459
down €11,459 (-8.9%), from €129,079 to €117,620
- Tax, wage and social debts +€11,305
up €11,305 (+43.8%), from €25,813 to €37,118
of which Taxes: +€11,289
- Current portion of long-term debt -€9,894
down €9,894 (-45.2%), from €21,898 to €12,003
- Gross operating margin -€41,896
down €41,896 (-16.9%), from €248,532 to €206,637
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 | €485,179 | €442,848 | -€42,331 | -8.7% |
| Fixed assets | 21/28 | €234,198 | €217,996 | -€16,202 | -6.9% |
| Intangible fixed assets | 21 | €23,796 | €20,225 | -€3,571 | -15.0% |
| Tangible fixed assets | 22/27 | €210,401 | €197,771 | -€12,630 | -6.0% |
| Land and buildings | 22 | €209,369 | €197,157 | -€12,212 | -5.8% |
| Furniture and vehicles | 24 | €1,032 | €614 | -€418 | -40.5% |
| Current assets | 29/58 | €250,982 | €224,852 | -€26,130 | -10.4% |
| Amounts receivable within one year | 40/41 | €24,431 | €25,498 | +€1,067 | +4.4% |
| Other amounts receivable | 41 | €24,431 | €25,498 | +€1,067 | +4.4% |
| Current investments | 50/53 | €170,000 | €0 | -€170,000 | -100% |
| Cash at bank and in hand | 54/58 | €47,159 | €196,787 | +€149,627 | +317% |
| Deferred charges and accrued income | 490/1 | €9,391 | €2,567 | -€6,824 | -72.7% |
| Total equity and liabilities | 10/49 | €485,179 | €442,848 | -€42,331 | -8.7% |
| Equity | 10/15 | €166,639 | €164,034 | -€2,605 | -1.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €141,503 | €138,898 | -€2,605 | -1.8% |
| Distributable reserves | 133 | €141,503 | €138,898 | -€2,605 | -1.8% |
| Profit (loss) carried forward | 14 | €6,544 | €6,544 | +€0 | 0.0% |
| Amounts payable | 17/49 | €318,540 | €278,814 | -€39,726 | -12.5% |
| Amounts payable after more than one year | 17 | €129,079 | €117,620 | -€11,459 | -8.9% |
| Financial debts | 170/4 | €129,079 | €117,620 | -€11,459 | -8.9% |
| Amounts payable within one year | 42/48 | €189,461 | €161,194 | -€28,267 | -14.9% |
| Current portion of amounts payable after more than one year | 42 | €21,898 | €12,003 | -€9,894 | -45.2% |
| Financial debts | 43 | €24,377 | €22,987 | -€1,390 | -5.7% |
| Credit institutions | 430/8 | €1,001 | €22,987 | +€21,986 | +2,195% |
| Other loans | 439 | €23,375 | €0 | -€23,375 | -100% |
| Trade debts | 44 | €29,874 | €5,701 | -€24,172 | -80.9% |
| Suppliers | 440/4 | €29,874 | €5,701 | -€24,172 | -80.9% |
| Taxes, remuneration and social security | 45 | €25,813 | €37,118 | +€11,305 | +43.8% |
| Taxes | 450/3 | €19,455 | €30,744 | +€11,289 | +58.0% |
| Remuneration and social security | 454/9 | €6,358 | €6,374 | +€17 | +0.3% |
| Other amounts payable | 47/48 | €87,500 | €83,383 | -€4,117 | -4.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,391 | €16,202 | +€1,811 | +12.6% |
| Other operating charges | 640/8 | €3,163 | €3,298 | +€135 | +4.3% |
| Gross operating margin | 9900 | €248,532 | €206,637 | -€41,896 | -16.9% |
| Operating profit (loss) | 9901 | €230,979 | €187,137 | -€43,842 | -19.0% |
| Financial income | 75/76B | €1,943 | €1,665 | -€278 | -14.3% |
| Recurring financial income | 75 | €796 | €1,665 | +€869 | +109% |
| Non-recurring financial income | 76B | €1,147 | €0 | -€1,147 | -100% |
| Financial charges | 65/66B | €5,341 | €6,465 | +€1,123 | +21.0% |
| Recurring financial charges | 65 | €5,341 | €6,465 | +€1,123 | +21.0% |
| Profit (loss) for the period before taxes | 9903 | €227,581 | €182,338 | -€45,243 | -19.9% |
| Income taxes | 67/77 | €57,661 | €58,083 | +€423 | +0.7% |
| Profit (loss) for the period | 9904 | €169,920 | €124,254 | -€45,666 | -26.9% |
| Profit (loss) for the period to be appropriated | 9905 | €169,920 | €124,254 | -€45,666 | -26.9% |
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 13 October 2026 via checked.be.