VANDEBOSCH: 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.
VANDEBOSCH
Largest movements
- Tangible fixed assets +€20,090
up €20,090 (+4.6%), from €437,286 to €457,376
of which Land and buildings: +€10,391
- Cash +€15,492
up €15,492 (+183.1%), from €8,463 to €23,955
mainly Depreciation (+€49,316) and Net result for the year (+€34,908)
- Reserves +€34,908
up €34,908 (+18.6%), from €187,844 to €222,752
- Debts after one year -€9,790
down €9,790 (-4.2%), from €230,501 to €220,712
of which Financial debts: -€26,148
- Tax, wage and social debts +€6,373
up €6,373 (+403.6%), from €1,579 to €7,952
- Gross operating margin +€60,042
up €60,042 (+128.6%), from €46,706 to €106,749
- Depreciation +€5,125
up €5,125 (+11.6%), from €44,191 to €49,316
- Taxes +€3,405
up €3,405 (+1212.6%), from €281 to €3,686
- Financial charges +€3,175
up €3,175 (+27.5%), from €11,554 to €14,729
- Other operating charges -€1,288
down €1,288 (-23.3%), from €5,525 to €4,237
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 | €498,287 | €529,644 | +€31,357 | +6.3% |
| Fixed assets | 21/28 | €437,286 | €457,376 | +€20,090 | +4.6% |
| Tangible fixed assets | 22/27 | €437,286 | €457,376 | +€20,090 | +4.6% |
| Land and buildings | 22 | €376,983 | €387,374 | +€10,391 | +2.8% |
| Plant, machinery and equipment | 23 | €1,811 | €5,620 | +€3,809 | +210.3% |
| Furniture and vehicles | 24 | €47,958 | €56,790 | +€8,832 | +18.4% |
| Other tangible fixed assets | 26 | €10,533 | €7,592 | -€2,941 | -27.9% |
| Current assets | 29/58 | €61,001 | €72,268 | +€11,267 | +18.5% |
| Stocks and contracts in progress | 3 | €8,388 | €7,490 | -€899 | -10.7% |
| Stocks | 30/36 | €8,388 | €7,490 | -€899 | -10.7% |
| Amounts receivable within one year | 40/41 | €35,256 | €34,561 | -€695 | -2.0% |
| Trade receivables | 40 | €35,155 | €34,561 | -€593 | -1.7% |
| Other amounts receivable | 41 | €101 | €0 | -€101 | -100.0% |
| Cash at bank and in hand | 54/58 | €8,463 | €23,955 | +€15,492 | +183.1% |
| Deferred charges and accrued income | 490/1 | €8,894 | €6,262 | -€2,632 | -29.6% |
| Total equity and liabilities | 10/49 | €498,287 | €529,644 | +€31,357 | +6.3% |
| Equity | 10/15 | €206,436 | €241,344 | +€34,908 | +16.9% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €187,844 | €222,752 | +€34,908 | +18.6% |
| Distributable reserves | 133 | €187,844 | €222,752 | +€34,908 | +18.6% |
| Amounts payable | 17/49 | €291,851 | €288,300 | -€3,551 | -1.2% |
| Amounts payable after more than one year | 17 | €230,501 | €220,712 | -€9,790 | -4.2% |
| Financial debts | 170/4 | €145,816 | €119,668 | -€26,148 | -17.9% |
| Other amounts payable | 178/9 | €84,685 | €101,044 | +€16,359 | +19.3% |
| Amounts payable within one year | 42/48 | €55,269 | €61,013 | +€5,744 | +10.4% |
| Current portion of amounts payable after more than one year | 42 | €31,201 | €35,770 | +€4,568 | +14.6% |
| Trade debts | 44 | €17,379 | €16,399 | -€980 | -5.6% |
| Suppliers | 440/4 | €17,379 | €16,399 | -€980 | -5.6% |
| Advances received on contracts in progress | 46 | €4,048 | €0 | -€4,048 | -100.0% |
| Taxes, remuneration and social security | 45 | €1,579 | €7,952 | +€6,373 | +403.6% |
| Taxes | 450/3 | €1,579 | €7,952 | +€6,373 | +403.6% |
| Other amounts payable | 47/48 | €1,061 | €892 | -€169 | -15.9% |
| Accrued charges and deferred income | 492/3 | €6,081 | €6,575 | +€494 | +8.1% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,191 | €49,316 | +€5,125 | +11.6% |
| Other operating charges | 640/8 | €5,525 | €4,237 | -€1,288 | -23.3% |
| Gross operating margin | 9900 | €46,706 | €106,749 | +€60,042 | +128.6% |
| Operating profit (loss) | 9901 | -€3,010 | €53,196 | +€56,206 | |
| Financial income | 75/76B | €52 | €128 | +€76 | +147.9% |
| Recurring financial income | 75 | €52 | €128 | +€76 | +147.9% |
| Financial charges | 65/66B | €11,554 | €14,729 | +€3,175 | +27.5% |
| Recurring financial charges | 65 | €11,554 | €14,729 | +€3,175 | +27.5% |
| Profit (loss) for the period before taxes | 9903 | -€14,512 | €38,594 | +€53,107 | |
| Income taxes | 67/77 | €281 | €3,686 | +€3,405 | +1212.6% |
| Profit (loss) for the period | 9904 | -€14,793 | €34,908 | +€49,702 | |
| Profit (loss) for the period to be appropriated | 9905 | -€14,793 | €34,908 | +€49,702 |
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 4 October 2026 via checked.be.