Vandecauter: 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.
Vandecauter
Largest movements
- Tangible fixed assets +€15,582
up €15,582 (+91.7%), from €16,988 to €32,570
of which Land and buildings: +€13,220
- Deferred charges and accrued income +€2,507
up €2,507 (+29.6%), from €8,479 to €10,986
- Receivables within one year -€1,291
down €1,291 (-66.7%), from €1,936 to €645
- Cash -€1,260
down €1,260 (-24.7%), from €5,099 to €3,839
mainly Contributions, distributions and other (-€51,714) and Investment in fixed assets (net) (-€19,113)
- Other debts +€18,261
up €18,261 (+113%), from €16,223 to €34,483
- Reserves -€12,202
no longer reported in 2025 (was €12,202)
- Current portion of long-term debt +€9,000
new in 2025: €9,000
- Gross operating margin +€19,547
up €19,547 (+51.2%), from €38,178 to €57,725
- Taxes +€5,791
up €5,791 (+76.6%), from €7,564 to €13,355
- Depreciation +€2,947
up €2,947 (+505%), from €583 to €3,530
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 | €32,502 | €48,040 | +€15,538 | +47.8% |
| Fixed assets | 21/28 | €16,988 | €32,570 | +€15,582 | +91.7% |
| Tangible fixed assets | 22/27 | €16,988 | €32,570 | +€15,582 | +91.7% |
| Land and buildings | 22 | €15,575 | €28,795 | +€13,220 | +84.9% |
| Plant, machinery and equipment | 23 | €1,412 | €3,775 | +€2,363 | +167% |
| Current assets | 29/58 | €15,514 | €15,470 | -€44 | -0.3% |
| Amounts receivable within one year | 40/41 | €1,936 | €645 | -€1,291 | -66.7% |
| Other amounts receivable | 41 | €1,936 | €645 | -€1,291 | -66.7% |
| Cash at bank and in hand | 54/58 | €5,099 | €3,839 | -€1,260 | -24.7% |
| Deferred charges and accrued income | 490/1 | €8,479 | €10,986 | +€2,507 | +29.6% |
| Total equity and liabilities | 10/49 | €32,502 | €48,040 | +€15,538 | +47.8% |
| Equity | 10/15 | €14,202 | €2,000 | -€12,202 | -85.9% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €12,202 | - | -€12,202 | |
| Distributable reserves | 133 | €12,202 | - | -€12,202 | |
| Amounts payable | 17/49 | €18,300 | €46,040 | +€27,741 | +152% |
| Amounts payable within one year | 42/48 | €18,300 | €46,040 | +€27,741 | +152% |
| Current portion of amounts payable after more than one year | 42 | - | €9,000 | +€9,000 | |
| Trade debts | 44 | €577 | €1,057 | +€480 | +83.2% |
| Suppliers | 440/4 | €577 | €1,057 | +€480 | +83.2% |
| Taxes, remuneration and social security | 45 | €1,500 | €1,500 | = | 0.0% |
| Remuneration and social security | 454/9 | €1,500 | €1,500 | = | 0.0% |
| Other amounts payable | 47/48 | €16,223 | €34,483 | +€18,261 | +113% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €583 | €3,530 | +€2,947 | +505% |
| Other operating charges | 640/8 | €523 | €140 | -€383 | -73.2% |
| Gross operating margin | 9900 | €38,178 | €57,725 | +€19,547 | +51.2% |
| Operating profit (loss) | 9901 | €37,072 | €54,055 | +€16,983 | +45.8% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €1,306 | €1,188 | -€117 | -9.0% |
| Recurring financial charges | 65 | €1,306 | €1,188 | -€117 | -9.0% |
| Profit (loss) for the period before taxes | 9903 | €35,767 | €52,867 | +€17,100 | +47.8% |
| Income taxes | 67/77 | €7,564 | €13,355 | +€5,791 | +76.6% |
| Profit (loss) for the period | 9904 | €28,202 | €39,511 | +€11,309 | +40.1% |
| Profit (loss) for the period to be appropriated | 9905 | €28,202 | €39,511 | +€11,309 | +40.1% |
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 27 October 2026 via checked.be.