VANDECRUYS: 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.
VANDECRUYS
Largest movements
- Cash +€24,875
up €24,875 (+71.2%), from €34,954 to €59,829
mainly Depreciation (+€15,781) and Other debts (+€13,743)
- Tangible fixed assets -€15,786
down €15,786 (-32.6%), from €48,455 to €32,670
of which Furniture and vehicles: -€15,632
- Deferred charges and accrued income +€15,282
up €15,282 (+527%), from €2,900 to €18,182
- Receivables within one year -€13,353
down €13,353 (-61.3%), from €21,788 to €8,434
of which Other amounts receivable: -€16,315
- Stocks and contracts +€9,473
up €9,473 (+19.6%), from €48,263 to €57,737
of which Contracts in progress: +€17,150
- Other debts +€13,743
up €13,743 (+45.9%), from €29,959 to €43,703
- Accrued charges and deferred income +€9,000
new in 2025: €9,000
- Debts after one year -€7,701
down €7,701 (-36.1%), from €21,351 to €13,650
- Reserves +€7,397
up €7,397 (+15.5%), from €47,812 to €55,209
of which Distributable reserves: +€9,430
- Current portion of long-term debt -€4,778
down €4,778 (-38.3%), from €12,480 to €7,701
- Gross operating margin +€3,512
up €3,512 (+4.5%), from €77,630 to €81,142
- Other operating charges -€2,034
down €2,034 (-71.8%), from €2,832 to €798
- Financial charges -€1,519
down €1,519 (-31.9%), from €4,756 to €3,236
- Taxes +€1,027
up €1,027 (+360%), from €285 to €1,312
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 | €156,360 | €176,851 | +€20,491 | +13.1% |
| Fixed assets | 21/28 | €48,455 | €32,670 | -€15,786 | -32.6% |
| Tangible fixed assets | 22/27 | €48,455 | €32,670 | -€15,786 | -32.6% |
| Plant, machinery and equipment | 23 | €1,196 | €1,043 | -€153 | -12.8% |
| Furniture and vehicles | 24 | €47,259 | €31,627 | -€15,632 | -33.1% |
| Current assets | 29/58 | €107,905 | €144,181 | +€36,276 | +33.6% |
| Stocks and contracts in progress | 3 | €48,263 | €57,737 | +€9,473 | +19.6% |
| Stocks | 30/36 | €48,263 | €40,587 | -€7,677 | -15.9% |
| Contracts in progress | 37 | €0 | €17,150 | +€17,150 | |
| Amounts receivable within one year | 40/41 | €21,788 | €8,434 | -€13,353 | -61.3% |
| Trade receivables | 40 | €1,129 | €4,090 | +€2,962 | +262% |
| Other amounts receivable | 41 | €20,659 | €4,344 | -€16,315 | -79.0% |
| Cash at bank and in hand | 54/58 | €34,954 | €59,829 | +€24,875 | +71.2% |
| Deferred charges and accrued income | 490/1 | €2,900 | €18,182 | +€15,282 | +527% |
| Total equity and liabilities | 10/49 | €156,360 | €176,851 | +€20,491 | +13.1% |
| Equity | 10/15 | €68,139 | €75,536 | +€7,397 | +10.9% |
| Contributions | 10/11 | €20,327 | €20,327 | = | 0.0% |
| Reserves | 13 | €47,812 | €55,209 | +€7,397 | +15.5% |
| Non-distributable reserves | 130/1 | €2,033 | €0 | -€2,033 | -100% |
| Reserves not available under the articles | 1311 | €2,033 | €0 | -€2,033 | -100% |
| Distributable reserves | 133 | €45,779 | €55,209 | +€9,430 | +20.6% |
| Amounts payable | 17/49 | €88,220 | €101,314 | +€13,094 | +14.8% |
| Amounts payable after more than one year | 17 | €21,351 | €13,650 | -€7,701 | -36.1% |
| Financial debts | 170/4 | €21,351 | €13,650 | -€7,701 | -36.1% |
| Amounts payable within one year | 42/48 | €66,869 | €78,664 | +€11,795 | +17.6% |
| Current portion of amounts payable after more than one year | 42 | €12,480 | €7,701 | -€4,778 | -38.3% |
| Trade debts | 44 | €5,312 | €7,380 | +€2,069 | +38.9% |
| Suppliers | 440/4 | €5,312 | €7,380 | +€2,069 | +38.9% |
| Taxes, remuneration and social security | 45 | €19,118 | €19,880 | +€762 | +4.0% |
| Taxes | 450/3 | €18,339 | €1,365 | -€16,974 | -92.6% |
| Remuneration and social security | 454/9 | €780 | €18,515 | +€17,735 | +2,275% |
| Other amounts payable | 47/48 | €29,959 | €43,703 | +€13,743 | +45.9% |
| Accrued charges and deferred income | 492/3 | - | €9,000 | +€9,000 | |
| Remuneration, social security and pensions | 62 | €52,094 | €52,623 | +€529 | +1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,781 | €15,781 | = | 0.0% |
| Other operating charges | 640/8 | €2,832 | €798 | -€2,034 | -71.8% |
| Gross operating margin | 9900 | €77,630 | €81,142 | +€3,512 | +4.5% |
| Operating profit (loss) | 9901 | €6,923 | €11,940 | +€5,018 | +72.5% |
| Financial income | 75/76B | €111 | €5 | -€106 | -95.4% |
| Recurring financial income | 75 | €111 | €5 | -€106 | -95.4% |
| Financial charges | 65/66B | €4,756 | €3,236 | -€1,519 | -31.9% |
| Recurring financial charges | 65 | €4,756 | €3,236 | -€1,519 | -31.9% |
| Profit (loss) for the period before taxes | 9903 | €2,278 | €8,709 | +€6,431 | +282% |
| Income taxes | 67/77 | €285 | €1,312 | +€1,027 | +360% |
| Profit (loss) for the period | 9904 | €1,993 | €7,397 | +€5,404 | +271% |
| Profit (loss) for the period to be appropriated | 9905 | €1,993 | €7,397 | +€5,404 | +271% |
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 23 October 2026 via checked.be.