VANDECASTEELE BASTIONS: 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
VANDECASTEELE BASTIONS
NACE 47.811, Retail sale of cars and light vans (up to 3.5 tonnes)
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€183,893
2024 · €36,112+€147,781
Equity
€2.8m
2024 · €2.6m+€183,893
Cash
€17,282
2024 · €223,406-€206,124
Balance sheet total
€9.1m
2024 · €7.4m+€1.7m
Largest movements
Assets
- Receivables within one year +€1.4m
up €1.4m (+187%), from €744,600 to €2.1m
of which Trade receivables: +€957,897
- Stocks and contracts +€474,328
up €474,328 (+14.0%), from €3.4m to €3.9m
of which Stocks: +€474,328
- Cash -€206,124
down €206,124 (-92.3%), from €223,406 to €17,282
mainly Receivables within one year (-€1.4m) and Stocks and contracts (-€474,328)
Equity and liabilities
- Other debts +€1.2m
up €1.2m (+1,458%), from €80,000 to €1.2m
- Trade debts +€306,395
up €306,395 (+8.3%), from €3.7m to €4.0m
of which Suppliers: +€306,395
- Profit (loss) carried forward +€183,893
up €183,893 (+15.7%), from €1.2m to €1.4m
- Tax, wage and social debts +€140,810
up €140,810 (+162%), from €86,759 to €227,569
of which Taxes: +€76,738
Income statement
- Gross operating margin +€328,258
up €328,258 (+29.3%), from €1.1m to €1.4m
- Staff costs +€112,810
up €112,810 (+12.2%), from €925,484 to €1.0m
- Financial charges +€68,979
up €68,979 (+78.4%), from €87,949 to €156,928
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
€36,112
Gross operating margin
+€328,258
Staff costs
-€112,810
Depreciation
-€6,024
Other operating charges
+€6,477
Financial income
+€1,342
Financial charges
-€68,979
Taxes
-€483
Result 2025
€183,893
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
-€124,407
Investment
-€23,944
Financing
-€57,773
Cash 2024
€223,406
From operations (derived)
-€124,407
Net result for the year
+€183,893
Depreciation
+€42,105
Stocks and contracts
-€474,328
Receivables within one year
-€1.4m
Deferred charges and accrued income
-€76,726
Trade debts
+€306,395
Tax, wage and social debts
+€140,810
Other debts
+€1.2m
Accrued charges and deferred income
-€20,204
Investment (derived)
-€23,944
Investment in fixed assets (net)
-€23,944
Financing
-€57,773
Debts after one year
-€58,462
Current portion of long-term debt
+€689
Contributions, distributions and other
+€0
Cash 2025
€17,282
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,430,079 | €9,149,343 | +€1.7m | +23.1% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €3,052,073 | €3,033,912 | -€18,160 | -0.6% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €1,050,736 | €1,032,575 | -€18,160 | -1.7% |
| Land and buildings | 22 | €1,034,737 | €1,017,472 | -€17,265 | -1.7% |
| Plant, machinery and equipment | 23 | €0 | €8,297 | +€8,297 | |
| Furniture and vehicles | 24 | €10,169 | €4,273 | -€5,896 | -58.0% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Other tangible fixed assets | 26 | €5,830 | €2,534 | -€3,296 | -56.5% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Financial fixed assets | 28 | €2,001,337 | €2,001,337 | = | 0.0% |
| Current assets | 29/58 | €4,378,006 | €6,115,431 | +€1.7m | +39.7% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Trade receivables | 290 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Stocks and contracts in progress | 3 | €3,391,105 | €3,865,433 | +€474,328 | +14.0% |
| Stocks | 30/36 | €3,391,105 | €3,865,433 | +€474,328 | +14.0% |
| Contracts in progress | 37 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €744,600 | €2,137,095 | +€1.4m | +187% |
| Trade receivables | 40 | €509,514 | €1,467,411 | +€957,897 | +188% |
| Other amounts receivable | 41 | €235,086 | €669,684 | +€434,598 | +185% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €223,406 | €17,282 | -€206,124 | -92.3% |
| Deferred charges and accrued income | 490/1 | €18,895 | €95,621 | +€76,726 | +406% |
| Total equity and liabilities | 10/49 | €7,430,079 | €9,149,343 | +€1.7m | +23.1% |
| Equity | 10/15 | €2,608,393 | €2,792,287 | +€183,893 | +7.1% |
| Contributions | 10/11 | €1,406,205 | €1,406,205 | = | 0.0% |
| Capital | 10 | €1,406,205 | €1,406,205 | = | 0.0% |
| Issued capital | 100 | €1,418,600 | €1,418,600 | = | 0.0% |
| Uncalled capital | 101 | €12,395 | €12,395 | = | 0.0% |
| Contributions outside capital | 11 | €0 | - | = | |
| Share premium | 1100/10 | €0 | - | = | |
| Other | 1109/19 | €0 | - | = | |
| Revaluation surpluses | 12 | €0 | - | = | |
| Reserves | 13 | €27,425 | €27,425 | = | 0.0% |
| Non-distributable reserves | 130/1 | €26,860 | €26,860 | = | 0.0% |
| Legal reserve | 130 | €26,860 | €26,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Own shares acquired | 1312 | €0 | - | = | |
| Financial assistance | 1313 | €0 | - | = | |
| Other | 1319 | €0 | - | = | |
| Tax-exempt reserves | 132 | €565 | €565 | = | 0.0% |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | €1,174,763 | €1,358,656 | +€183,893 | +15.7% |
| Investment grants | 15 | €0 | - | = | |
| Advance to shareholders on the distribution of net assets | 19 | €0 | - | = | |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Provisions for liabilities and charges | 160/5 | €0 | - | = | |
| Pensions and similar obligations | 160 | €0 | - | = | |
| Taxes | 161 | €0 | - | = | |
| Major repairs and maintenance | 162 | €0 | - | = | |
| Environmental obligations | 163 | €0 | - | = | |
| Other liabilities and charges | 164/5 | €0 | - | = | |
| Amounts payable | 17/49 | €4,821,686 | €6,357,057 | +€1.5m | +31.8% |
| Amounts payable after more than one year | 17 | €377,013 | €318,551 | -€58,462 | -15.5% |
| Financial debts | 170/4 | €377,013 | €318,551 | -€58,462 | -15.5% |
| Trade debts | 175 | €0 | - | = | |
| Advances received on contracts in progress | 176 | €0 | - | = | |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €4,325,001 | €5,939,038 | +€1.6m | +37.3% |
| Current portion of amounts payable after more than one year | 42 | €57,773 | €58,462 | +€689 | +1.2% |
| Financial debts | 43 | €400,000 | €400,000 | = | 0.0% |
| Credit institutions | 430/8 | €400,000 | €400,000 | = | 0.0% |
| Other loans | 439 | €0 | - | = | |
| Trade debts | 44 | €3,700,470 | €4,006,864 | +€306,395 | +8.3% |
| Suppliers | 440/4 | €3,700,470 | €4,006,864 | +€306,395 | +8.3% |
| Bills of exchange payable | 441 | €0 | - | = | |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €86,759 | €227,569 | +€140,810 | +162% |
| Taxes | 450/3 | €0 | €76,738 | +€76,738 | |
| Remuneration and social security | 454/9 | €86,759 | €150,831 | +€64,072 | +73.9% |
| Other amounts payable | 47/48 | €80,000 | €1,246,143 | +€1.2m | +1,458% |
| Accrued charges and deferred income | 492/3 | €119,671 | €99,468 | -€20,204 | -16.9% |
| Non-recurring operating income | 76A | €57,764 | - | -€57,764 | |
| Remuneration, social security and pensions | 62 | €925,484 | €1,038,294 | +€112,810 | +12.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,081 | €42,105 | +€6,024 | +16.7% |
| Other operating charges | 640/8 | €38,395 | €31,918 | -€6,477 | -16.9% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €1,119,693 | €1,447,951 | +€328,258 | +29.3% |
| Operating profit (loss) | 9901 | €119,734 | €335,635 | +€215,901 | +180% |
| Financial income | 75/76B | €4,336 | €5,677 | +€1,342 | +31.0% |
| Recurring financial income | 75 | €4,336 | €5,677 | +€1,342 | +31.0% |
| Financial charges | 65/66B | €87,949 | €156,928 | +€68,979 | +78.4% |
| Recurring financial charges | 65 | €87,949 | €156,928 | +€68,979 | +78.4% |
| Profit (loss) for the period before taxes | 9903 | €36,120 | €184,384 | +€148,264 | +410% |
| Income taxes | 67/77 | €8 | €491 | +€483 | +6,125% |
| Profit (loss) for the period | 9904 | €36,112 | €183,893 | +€147,781 | +409% |
| Profit (loss) for the period to be appropriated | 9905 | €36,112 | €183,893 | +€147,781 | +409% |
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 25 October 2026 via checked.be.