VANDECAVEYE: 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.
VANDECAVEYE
Largest movements
- Cash +€170,703
up €170,703 (+231.4%), from €73,771 to €244,474
mainly Net result for the year (+€249,250) and Tax, wage and social debts (+€74,785)
- Receivables within one year +€137,112
up €137,112 (+146.1%), from €93,860 to €230,972
of which Trade receivables: +€132,328
- Profit (loss) carried forward +€249,250
up €249,250 (+823.8%), from €30,255 to €279,505
- Tax, wage and social debts +€74,785
up €74,785 (+244.0%), from €30,652 to €105,437
of which Taxes: +€77,640
- Other debts -€15,763
down €15,763 (-7.1%), from €221,206 to €205,443
- Trade debts +€7,231
up €7,231 (+91.1%), from €7,938 to €15,170
- Gross operating margin +€303,349
up €303,349 (+605.0%), from €50,144 to €353,493
- Taxes +€70,375
up €70,375 (+584.9%), from €12,031 to €82,406
- Depreciation +€26,587
up €26,587 (+347.6%), from €7,648 to €34,234
- Financial income +€15,098
up €15,098 (+546.8%), from €2,761 to €17,859
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 | €292,616 | €608,121 | +€315,505 | +107.8% |
| Formation expenses | 20 | €1,041 | - | -€1,041 | |
| Fixed assets | 21/28 | €104,436 | €109,010 | +€4,573 | +4.4% |
| Intangible fixed assets | 21 | €915 | €582 | -€333 | -36.4% |
| Tangible fixed assets | 22/27 | €103,521 | €108,428 | +€4,907 | +4.7% |
| Plant, machinery and equipment | 23 | - | €1,842 | +€1,842 | |
| Furniture and vehicles | 24 | €103,521 | €106,586 | +€3,065 | +3.0% |
| Current assets | 29/58 | €187,139 | €499,112 | +€311,973 | +166.7% |
| Stocks and contracts in progress | 3 | €16,100 | €19,900 | +€3,800 | +23.6% |
| Stocks | 30/36 | €16,100 | €19,900 | +€3,800 | +23.6% |
| Amounts receivable within one year | 40/41 | €93,860 | €230,972 | +€137,112 | +146.1% |
| Trade receivables | 40 | €93,350 | €225,678 | +€132,328 | +141.8% |
| Other amounts receivable | 41 | €510 | €5,294 | +€4,784 | +937.2% |
| Cash at bank and in hand | 54/58 | €73,771 | €244,474 | +€170,703 | +231.4% |
| Deferred charges and accrued income | 490/1 | €3,408 | €3,766 | +€358 | +10.5% |
| Total equity and liabilities | 10/49 | €292,616 | €608,121 | +€315,505 | +107.8% |
| Equity | 10/15 | €32,755 | €282,005 | +€249,250 | +761.0% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €30,255 | €279,505 | +€249,250 | +823.8% |
| Amounts payable | 17/49 | €259,861 | €326,116 | +€66,255 | +25.5% |
| Amounts payable within one year | 42/48 | €259,796 | €326,049 | +€66,254 | +25.5% |
| Trade debts | 44 | €7,938 | €15,170 | +€7,231 | +91.1% |
| Suppliers | 440/4 | €7,938 | €15,170 | +€7,231 | +91.1% |
| Taxes, remuneration and social security | 45 | €30,652 | €105,437 | +€74,785 | +244.0% |
| Taxes | 450/3 | €27,797 | €105,437 | +€77,640 | +279.3% |
| Remuneration and social security | 454/9 | €2,854 | - | -€2,854 | |
| Other amounts payable | 47/48 | €221,206 | €205,443 | -€15,763 | -7.1% |
| Accrued charges and deferred income | 492/3 | €66 | €67 | +€1 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,648 | €34,234 | +€26,587 | +347.6% |
| Other operating charges | 640/8 | €2,381 | €3,350 | +€968 | +40.7% |
| Gross operating margin | 9900 | €50,144 | €353,493 | +€303,349 | +605.0% |
| Operating profit (loss) | 9901 | €40,115 | €315,909 | +€275,794 | +687.5% |
| Financial income | 75/76B | €2,761 | €17,859 | +€15,098 | +546.8% |
| Recurring financial income | 75 | €2,761 | €17,859 | +€15,098 | +546.8% |
| Financial charges | 65/66B | €590 | €2,112 | +€1,522 | +258.0% |
| Recurring financial charges | 65 | €590 | €2,112 | +€1,522 | +258.0% |
| Profit (loss) for the period before taxes | 9903 | €42,286 | €331,656 | +€289,370 | +684.3% |
| Income taxes | 67/77 | €12,031 | €82,406 | +€70,375 | +584.9% |
| Profit (loss) for the period | 9904 | €30,255 | €249,250 | +€218,995 | +723.8% |
| Profit (loss) for the period to be appropriated | 9905 | €30,255 | €249,250 | +€218,995 | +723.8% |
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 29 September 2026 via checked.be.