VANDEL: 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
VANDEL
NACE 46.499, Wholesale of other household goods
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€15,907
2024 · €3,434+€12,473
Equity
€43,142
2024 · €27,235+€15,907
Cash
€46
2024 · €588-€542
Balance sheet total
€447,159
2024 · €445,784+€1,374
Largest movements
Assets
- Tangible fixed assets +€4,477
up €4,477 (+1.2%), from €385,914 to €390,391
of which Plant, machinery and equipment: +€19,815
Equity and liabilities
- Debts after one year -€38,215
down €38,215 (-23.6%), from €162,164 to €123,949
- Other debts +€21,953
up €21,953 (+17.3%), from €127,141 to €149,094
- Profit (loss) carried forward +€15,907
up €15,907 (+61.7%), from -€25,778 to -€9,872
- Trade debts -€7,797
down €7,797 (-28.5%), from €27,399 to €19,602
Income statement
- Purchases and services +€122,187
new in 2025: €122,187
- Depreciation -€13,757
down €13,757 (-25.6%), from €53,778 to €40,021
- Other operating charges -€1,645
down €1,645 (-33.6%), from €4,896 to €3,251
- Gross operating margin +€1,269
up €1,269 (+1.6%), from €78,377 to €79,646
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
€3,434
Gross operating margin
+€1,269
Depreciation
+€13,757
Other operating charges
+€1,645
Other operating items
-€4,968
Financial income
+€0
Financial charges
+€752
Taxes
+€19
Result 2025
€15,907
raises the resultnot broken down further in the accounts
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
+€76,701
Investment
-€44,499
Financing
-€32,744
Cash 2024
€588
From operations (derived)
+€76,701
Net result for the year
+€15,907
Depreciation
+€40,021
Stocks and contracts
+€2,136
Receivables within one year
+€362
Deferred charges and accrued income
+€63
Trade debts
-€7,797
Tax, wage and social debts
+€3,145
Other debts
+€21,953
Accrued charges and deferred income
+€911
Investment (derived)
-€44,499
Investment in fixed assets (net)
-€44,499
Financing
-€32,744
Debts after one year
-€38,215
Current portion of long-term debt
+€1,258
Short-term financial debts
+€4,212
Cash 2025
€46
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €445,784 | €447,159 | +€1,374 | +0.3% |
| Fixed assets | 21/28 | €385,914 | €390,391 | +€4,477 | +1.2% |
| Tangible fixed assets | 22/27 | €385,914 | €390,391 | +€4,477 | +1.2% |
| Land and buildings | 22 | €207,903 | €193,930 | -€13,973 | -6.7% |
| Plant, machinery and equipment | 23 | €168,694 | €188,510 | +€19,815 | +11.7% |
| Furniture and vehicles | 24 | €9,316 | €7,952 | -€1,365 | -14.7% |
| Current assets | 29/58 | €59,871 | €56,768 | -€3,103 | -5.2% |
| Stocks and contracts in progress | 3 | €13,850 | €11,714 | -€2,136 | -15.4% |
| Stocks | 30/36 | €13,850 | €11,714 | -€2,136 | -15.4% |
| Amounts receivable within one year | 40/41 | €43,083 | €42,722 | -€362 | -0.8% |
| Trade receivables | 40 | €43,083 | €38,759 | -€4,324 | -10.0% |
| Other amounts receivable | 41 | - | €3,962 | +€3,962 | |
| Cash at bank and in hand | 54/58 | €588 | €46 | -€542 | -92.2% |
| Deferred charges and accrued income | 490/1 | €2,350 | €2,287 | -€63 | -2.7% |
| Total equity and liabilities | 10/49 | €445,784 | €447,159 | +€1,374 | +0.3% |
| Equity | 10/15 | €27,235 | €43,142 | +€15,907 | +58.4% |
| Contributions | 10/11 | €52,100 | €52,100 | = | 0.0% |
| Reserves | 13 | €913 | €913 | = | 0.0% |
| Non-distributable reserves | 130/1 | €913 | €913 | = | 0.0% |
| Reserves not available under the articles | 1311 | €913 | €913 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€25,778 | -€9,872 | +€15,907 | +61.7% |
| Amounts payable | 17/49 | €418,549 | €404,017 | -€14,532 | -3.5% |
| Amounts payable after more than one year | 17 | €162,164 | €123,949 | -€38,215 | -23.6% |
| Financial debts | 170/4 | €162,164 | €123,949 | -€38,215 | -23.6% |
| Amounts payable within one year | 42/48 | €198,905 | €221,676 | +€22,772 | +11.4% |
| Current portion of amounts payable after more than one year | 42 | €36,957 | €38,215 | +€1,258 | +3.4% |
| Financial debts | 43 | €3,771 | €7,983 | +€4,212 | +112% |
| Credit institutions | 430/8 | €3,771 | €7,983 | +€4,212 | +112% |
| Trade debts | 44 | €27,399 | €19,602 | -€7,797 | -28.5% |
| Suppliers | 440/4 | €27,399 | €19,602 | -€7,797 | -28.5% |
| Taxes, remuneration and social security | 45 | €3,637 | €6,782 | +€3,145 | +86.5% |
| Taxes | 450/3 | €3,637 | €6,782 | +€3,145 | +86.5% |
| Other amounts payable | 47/48 | €127,141 | €149,094 | +€21,953 | +17.3% |
| Accrued charges and deferred income | 492/3 | €57,480 | €58,391 | +€911 | +1.6% |
| Goods, raw materials, services and sundry goods | 60/61 | - | €122,187 | +€122,187 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,778 | €40,021 | -€13,757 | -25.6% |
| Other operating charges | 640/8 | €4,896 | €3,251 | -€1,645 | -33.6% |
| Non-recurring operating charges | 66A | €495 | €5,463 | +€4,968 | +1,004% |
| Gross operating margin | 9900 | €78,377 | €79,646 | +€1,269 | +1.6% |
| Operating profit (loss) | 9901 | €19,208 | €30,910 | +€11,702 | +60.9% |
| Financial income | 75/76B | €0 | €0 | +€0 | +411% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +411% |
| Financial charges | 65/66B | €15,571 | €14,819 | -€752 | -4.8% |
| Recurring financial charges | 65 | €15,571 | €14,819 | -€752 | -4.8% |
| Profit (loss) for the period before taxes | 9903 | €3,637 | €16,091 | +€12,454 | +342% |
| Income taxes | 67/77 | €203 | €185 | -€19 | -9.3% |
| Profit (loss) for the period | 9904 | €3,434 | €15,907 | +€12,473 | +363% |
| Profit (loss) for the period to be appropriated | 9905 | €3,434 | €15,907 | +€12,473 | +363% |
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 14 October 2026 via checked.be.