VANDEBERGH: 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
VANDEBERGH
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€454,942
2024 · -€96,489-€358,453
Equity
€21.3m
2024 · €21.8m-€454,942
Cash
€331,858
2024 · €219,814+€112,044
Balance sheet total
€46.1m
2024 · €45.4m+€719,567
Largest movements
Assets
- Deferred charges and accrued income +€1.0m
up €1.0m (+2,784%), from €37,391 to €1.1m
Equity and liabilities
- Debts after one year +€951,580
up €951,580 (+4.1%), from €23.1m to €24.0m
of which Financial debts: +€951,580
Income statement
- Turnover -€230,500
down €230,500 (-33.2%), from €694,000 to €463,500
- Other operating charges +€118,549
up €118,549 (+153%), from €77,552 to €196,100
- Services and other goods -€106,026
down €106,026 (-28.8%), from €368,050 to €262,024
- Financial charges +€94,652
up €94,652 (+27.6%), from €342,524 to €437,176
- Other operating income -€17,582
down €17,582 (-5.7%), from €307,138 to €289,555
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
-€96,489
Turnover
-€230,500
Other operating income
-€17,582
Services and other goods
+€106,026
Depreciation
-€3,831
Other operating charges
-€118,549
Financial income
+€661
Financial charges
-€94,652
Taxes
-€26
Result 2025
-€454,942
raises the resultlowers the result
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
-€1.1m
Investment
-€49,236
Financing
+€1.2m
Cash 2024
€219,814
From operations (derived)
-€1.1m
Net result for the year
-€454,942
Depreciation
+€311,941
Receivables within one year
+€170,789
Deferred charges and accrued income
-€1.0m
Trade debts
+€32,633
Tax, wage and social debts
-€74,725
Smaller working-capital items
+€2,866
Investment (derived)
-€49,236
Investment in fixed assets (net)
-€49,236
Financing
+€1.2m
Debts after one year
+€951,580
Current portion of long-term debt
+€133,457
Short-term financial debts
+€128,697
Cash 2025
€331,858
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €45,395,007 | €46,114,574 | +€719,567 | +1.6% |
| Fixed assets | 21/28 | €44,789,779 | €44,527,073 | -€262,705 | -0.6% |
| Tangible fixed assets | 22/27 | €4,018,995 | €3,756,290 | -€262,705 | -6.5% |
| Land and buildings | 22 | €3,883,425 | €3,621,229 | -€262,196 | -6.8% |
| Plant, machinery and equipment | 23 | €27,073 | €34,800 | +€7,727 | +28.5% |
| Furniture and vehicles | 24 | €108,496 | €100,260 | -€8,236 | -7.6% |
| Financial fixed assets | 28 | €40,770,784 | €40,770,784 | = | 0.0% |
| Affiliated companies | 280/1 | €40,770,784 | €40,770,784 | = | 0.0% |
| Participating interests | 280 | €40,770,784 | €40,770,784 | = | 0.0% |
| Current assets | 29/58 | €605,229 | €1,587,501 | +€982,272 | +162% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €348,024 | €177,235 | -€170,789 | -49.1% |
| Trade receivables | 40 | €300,504 | €130,112 | -€170,392 | -56.7% |
| Other amounts receivable | 41 | €47,520 | €47,123 | -€397 | -0.8% |
| Cash at bank and in hand | 54/58 | €219,814 | €331,858 | +€112,044 | +51.0% |
| Deferred charges and accrued income | 490/1 | €37,391 | €1,078,407 | +€1.0m | +2,784% |
| Total equity and liabilities | 10/49 | €45,395,007 | €46,114,574 | +€719,567 | +1.6% |
| Equity | 10/15 | €21,776,868 | €21,321,926 | -€454,942 | -2.1% |
| Contributions | 10/11 | €21,000,000 | €21,000,000 | = | 0.0% |
| Revaluation surpluses | 12 | €548,203 | €548,203 | = | 0.0% |
| Reserves | 13 | €1,230,827 | €1,230,827 | = | 0.0% |
| Distributable reserves | 133 | €1,230,827 | €1,230,827 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,002,162 | -€1,457,104 | -€454,942 | -45.4% |
| Amounts payable | 17/49 | €23,618,139 | €24,792,648 | +€1.2m | +5.0% |
| Amounts payable after more than one year | 17 | €23,055,381 | €24,006,962 | +€951,580 | +4.1% |
| Financial debts | 170/4 | €11,065,381 | €12,016,962 | +€951,580 | +8.6% |
| Credit institutions | 173 | €2,518,921 | €4,885,464 | +€2.4m | +94.0% |
| Other loans | 174 | €8,546,460 | €7,131,498 | -€1.4m | -16.6% |
| Other amounts payable | 178/9 | €11,990,000 | €11,990,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €562,758 | €785,096 | +€222,338 | +39.5% |
| Current portion of amounts payable after more than one year | 42 | €0 | €133,457 | +€133,457 | |
| Financial debts | 43 | €372,524 | €501,222 | +€128,697 | +34.5% |
| Credit institutions | 430/8 | €372,524 | €501,222 | +€128,697 | +34.5% |
| Trade debts | 44 | €20,572 | €53,205 | +€32,633 | +159% |
| Suppliers | 440/4 | €20,572 | €53,205 | +€32,633 | +159% |
| Taxes, remuneration and social security | 45 | €169,661 | €94,936 | -€74,725 | -44.0% |
| Taxes | 450/3 | €169,661 | €94,936 | -€74,725 | -44.0% |
| Other amounts payable | 47/48 | - | €2,276 | +€2,276 | |
| Accrued charges and deferred income | 492/3 | €0 | €590 | +€590 | |
| Operating income | 70/76A | €1,001,138 | €753,055 | -€248,082 | -24.8% |
| Turnover | 70 | €694,000 | €463,500 | -€230,500 | -33.2% |
| Other operating income | 74 | €307,138 | €289,555 | -€17,582 | -5.7% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Operating charges | 60/66A | €753,712 | €770,065 | +€16,354 | +2.2% |
| Services and other goods | 61 | €368,050 | €262,024 | -€106,026 | -28.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €308,110 | €311,941 | +€3,831 | +1.2% |
| Other operating charges | 640/8 | €77,552 | €196,100 | +€118,549 | +153% |
| Operating profit (loss) | 9901 | €247,426 | -€17,010 | -€264,436 | |
| Financial income | 75/76B | €0 | €661 | +€661 | |
| Recurring financial income | 75 | €0 | €661 | +€661 | |
| Income from current assets | 751 | €0 | - | = | |
| Other financial income | 752/9 | €0 | €661 | +€661 | |
| Financial charges | 65/66B | €342,524 | €437,176 | +€94,652 | +27.6% |
| Recurring financial charges | 65 | €342,524 | €437,176 | +€94,652 | +27.6% |
| Debt charges | 650 | €341,879 | €432,794 | +€90,915 | +26.6% |
| Other financial charges | 652/9 | €645 | €4,382 | +€3,737 | +580% |
| Profit (loss) for the period before taxes | 9903 | -€95,098 | -€453,525 | -€358,427 | -377% |
| Income taxes | 67/77 | €1,391 | €1,417 | +€26 | +1.9% |
| Taxes | 670/3 | €2,480 | €1,417 | -€1,063 | -42.9% |
| Tax adjustments and reversals of tax provisions | 77 | €1,089 | €0 | -€1,089 | -100% |
| Profit (loss) for the period | 9904 | -€96,489 | -€454,942 | -€358,453 | -371% |
| Profit (loss) for the period to be appropriated | 9905 | -€96,489 | -€454,942 | -€358,453 | -371% |
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 18 October 2026 via checked.be.