VANDELIS: 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
VANDELIS
NACE 46.170, Agents in the wholesale of food, beverages and tobacco
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€1.8m
2024 · €1.7m+€140,255
Equity
€17.4m
2024 · €15.9m+€1.6m
Cash
€3.0m
2024 · €4.5m-€1.6m
Balance sheet total
€33.0m
2024 · €27.3m+€5.7m
Largest movements
Assets
- Receivables within one year +€5.4m
up €5.4m (+32.4%), from €16.7m to €22.1m
of which Trade receivables: +€5.2m
- Cash -€1.6m
down €1.6m (-34.5%), from €4.5m to €3.0m
mainly Receivables within one year (-€5.4m) and Stocks and contracts (-€1.4m)
- Stocks and contracts +€1.4m
up €1.4m (+120%), from €1.1m to €2.5m
Equity and liabilities
- Trade debts +€4.3m
up €4.3m (+52.4%), from €8.2m to €12.5m
- Profit (loss) carried forward +€1.6m
up €1.6m (+10.9%), from €14.3m to €15.9m
Income statement
- Turnover +€8.4m
up €8.4m (+20.5%), from €41.3m to €49.7m
- Goods and materials +€8.0m
up €8.0m (+24.4%), from €32.7m to €40.6m
of which Purchases: +€9.1m
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
€1.7m
Turnover
+€8.4m
Other operating income
+€10,537
Goods and materials
-€8.0m
Services and other goods
+€159,464
Staff costs
-€175,404
Depreciation
+€202,851
Write-downs
-€117,872
Other operating charges
-€47,695
Financial income
-€202,684
Financial charges
-€101,081
Taxes
-€65,758
Result 2025
€1.8m
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
-€1.0m
Investment
-€270,112
Financing
-€280,000
Cash 2024
€4.5m
From operations (derived)
-€1.0m
Net result for the year
+€1.8m
Depreciation
+€84,182
Stocks and contracts
-€1.4m
Receivables within one year
-€5.4m
Deferred charges and accrued income
-€299,396
Trade debts
+€4.3m
Tax, wage and social debts
-€92,373
Other debts
+€215,531
Accrued charges and deferred income
-€264,705
Investment (derived)
-€270,112
Investment in fixed assets (net)
-€370,112
Current investments
+€100,000
Financing
-€280,000
Contributions, distributions and other
-€280,000
Cash 2025
€3.0m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €27,330,289 | €33,034,132 | +€5.7m | +20.9% |
| Fixed assets | 21/28 | €1,961,820 | €2,247,750 | +€285,930 | +14.6% |
| Intangible fixed assets | 21 | - | €41,208 | +€41,208 | |
| Tangible fixed assets | 22/27 | €1,942,739 | €1,974,177 | +€31,437 | +1.6% |
| Land and buildings | 22 | €1,680,447 | €1,680,447 | = | 0.0% |
| Plant, machinery and equipment | 23 | €8,480 | €5,825 | -€2,654 | -31.3% |
| Furniture and vehicles | 24 | €97,649 | €135,442 | +€37,793 | +38.7% |
| Other tangible fixed assets | 26 | €156,164 | €152,463 | -€3,701 | -2.4% |
| Financial fixed assets | 28 | €19,080 | €232,365 | +€213,285 | +1,118% |
| Other financial fixed assets | 284/8 | €19,080 | €232,365 | +€213,285 | +1,118% |
| Amounts receivable and cash guarantees | 285/8 | €19,080 | €232,365 | +€213,285 | +1,118% |
| Current assets | 29/58 | €25,368,469 | €30,786,381 | +€5.4m | +21.4% |
| Amounts receivable after more than one year | 29 | €1,350,000 | €1,350,000 | = | 0.0% |
| Other amounts receivable | 291 | €1,350,000 | €1,350,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €1,134,175 | €2,490,050 | +€1.4m | +120% |
| Stocks | 30/36 | €1,134,175 | €2,490,050 | +€1.4m | +120% |
| Goods purchased for resale | 34 | €1,134,175 | €2,490,050 | +€1.4m | +120% |
| Amounts receivable within one year | 40/41 | €16,727,178 | €22,148,763 | +€5.4m | +32.4% |
| Trade receivables | 40 | €16,378,664 | €21,623,156 | +€5.2m | +32.0% |
| Other amounts receivable | 41 | €348,513 | €525,607 | +€177,093 | +50.8% |
| Current investments | 50/53 | €1,500,000 | €1,400,000 | -€100,000 | -6.7% |
| Other investments | 51/53 | €1,500,000 | €1,400,000 | -€100,000 | -6.7% |
| Cash at bank and in hand | 54/58 | €4,521,936 | €2,962,992 | -€1.6m | -34.5% |
| Deferred charges and accrued income | 490/1 | €135,180 | €434,576 | +€299,396 | +221% |
| Total equity and liabilities | 10/49 | €27,330,289 | €33,034,132 | +€5.7m | +20.9% |
| Equity | 10/15 | €15,855,975 | €17,417,399 | +€1.6m | +9.8% |
| Contributions | 10/11 | €593,951 | €593,951 | = | 0.0% |
| Reserves | 13 | €952,599 | €952,599 | = | 0.0% |
| Distributable reserves | 133 | €952,599 | €952,599 | = | 0.0% |
| Profit (loss) carried forward | 14 | €14,309,426 | €15,870,850 | +€1.6m | +10.9% |
| Amounts payable | 17/49 | €11,474,314 | €15,616,733 | +€4.1m | +36.1% |
| Amounts payable after more than one year | 17 | €1,760,000 | €1,760,000 | = | 0.0% |
| Financial debts | 170/4 | €1,760,000 | €1,760,000 | = | 0.0% |
| Other loans | 174 | €1,760,000 | €1,760,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €9,265,893 | €13,673,016 | +€4.4m | +47.6% |
| Trade debts | 44 | €8,169,642 | €12,453,608 | +€4.3m | +52.4% |
| Suppliers | 440/4 | €8,169,642 | €12,453,608 | +€4.3m | +52.4% |
| Taxes, remuneration and social security | 45 | €191,035 | €98,661 | -€92,373 | -48.4% |
| Taxes | 450/3 | €97,575 | - | -€97,575 | |
| Remuneration and social security | 454/9 | €93,460 | €98,661 | +€5,202 | +5.6% |
| Other amounts payable | 47/48 | €905,216 | €1,120,747 | +€215,531 | +23.8% |
| Accrued charges and deferred income | 492/3 | €448,421 | €183,717 | -€264,705 | -59.0% |
| Operating income | 70/76A | €41,279,400 | €49,738,555 | +€8.5m | +20.5% |
| Turnover | 70 | €41,268,433 | €49,717,051 | +€8.4m | +20.5% |
| Other operating income | 74 | €10,966 | €21,504 | +€10,537 | +96.1% |
| Operating charges | 60/66A | €39,098,457 | €47,047,834 | +€7.9m | +20.3% |
| Goods for resale, raw materials and consumables | 60 | €32,675,432 | €40,646,153 | +€8.0m | +24.4% |
| Purchases | 600/8 | €33,005,439 | €42,119,900 | +€9.1m | +27.6% |
| Change in stocks: decrease (increase) | 609 | -€330,007 | -€1,473,747 | -€1.1m | -347% |
| Services and other goods | 61 | €5,636,795 | €5,477,330 | -€159,464 | -2.8% |
| Remuneration, social security and pensions | 62 | €495,637 | €671,041 | +€175,404 | +35.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €287,032 | €84,182 | -€202,851 | -70.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €117,872 | +€117,872 | |
| Other operating charges | 640/8 | €3,561 | €51,256 | +€47,695 | +1,339% |
| Operating profit (loss) | 9901 | €2,180,942 | €2,690,721 | +€509,778 | +23.4% |
| Financial income | 75/76B | €301,971 | €99,288 | -€202,684 | -67.1% |
| Recurring financial income | 75 | €301,971 | €99,288 | -€202,684 | -67.1% |
| Income from current assets | 751 | €117,518 | €93,825 | -€23,693 | -20.2% |
| Other financial income | 752/9 | €184,453 | €5,463 | -€178,990 | -97.0% |
| Financial charges | 65/66B | €204,367 | €305,449 | +€101,081 | +49.5% |
| Recurring financial charges | 65 | €204,367 | €305,449 | +€101,081 | +49.5% |
| Debt charges | 650 | €78,654 | €190,745 | +€112,091 | +143% |
| Other financial charges | 652/9 | €125,713 | €114,704 | -€11,010 | -8.8% |
| Profit (loss) for the period before taxes | 9903 | €2,278,546 | €2,484,560 | +€206,013 | +9.0% |
| Income taxes | 67/77 | €577,377 | €643,136 | +€65,758 | +11.4% |
| Taxes | 670/3 | €577,377 | €643,136 | +€65,758 | +11.4% |
| Profit (loss) for the period | 9904 | €1,701,169 | €1,841,424 | +€140,255 | +8.2% |
| Profit (loss) for the period to be appropriated | 9905 | €1,701,169 | €1,841,424 | +€140,255 | +8.2% |
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 18 October 2026 via checked.be.