VANDELOISE - GRENIER: 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.
VANDELOISE - GRENIER
Largest movements
- Receivables within one year -€13,356
down €13,356 (-5.7%), from €235,315 to €221,959
of which Other amounts receivable: -€7,368
- Cash +€3,701
up €3,701 (+9.9%), from €37,336 to €41,037
mainly Receivables within one year (+€13,356) and Net result for the year (+€11,331)
- Tax, wage and social debts -€12,000
no longer reported in 2025 (was €12,000)
- Reserves +€11,332
up €11,332 (+5.6%), from €201,479 to €212,811
of which Distributable reserves: +€11,331
- Trade debts -€8,569
down €8,569 (-47.6%), from €18,016 to €9,447
- Gross operating margin +€19,705
up €19,705, from -€3,542 to €16,163
- Financial income +€2,542
up €2,542 (+343.1%), from €741 to €3,283
of which Financial income: +€1,615
- Other operating charges +€2,087
up €2,087 (+45.1%), from €4,628 to €6,715
- Taxes +€1,052
new in 2025: €1,052
- Financial charges -€273
down €273 (-43.9%), from €622 to €349
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 | €286,897 | €276,660 | -€10,237 | -3.6% |
| Fixed assets | 21/28 | €270 | €270 | = | 0.0% |
| Financial fixed assets | 28 | €270 | €270 | = | 0.0% |
| Current assets | 29/58 | €286,627 | €276,390 | -€10,237 | -3.6% |
| Stocks and contracts in progress | 3 | €13,976 | €13,395 | -€581 | -4.2% |
| Stocks | 30/36 | €13,976 | €13,395 | -€581 | -4.2% |
| Amounts receivable within one year | 40/41 | €235,315 | €221,959 | -€13,356 | -5.7% |
| Trade receivables | 40 | €227,590 | €221,601 | -€5,989 | -2.6% |
| Other amounts receivable | 41 | €7,725 | €358 | -€7,368 | -95.4% |
| Cash at bank and in hand | 54/58 | €37,336 | €41,037 | +€3,701 | +9.9% |
| Total equity and liabilities | 10/49 | €286,897 | €276,660 | -€10,237 | -3.6% |
| Equity | 10/15 | €220,071 | €231,403 | +€11,332 | +5.1% |
| Contributions | 10/11 | €18,592 | €18,592 | +€0 | 0.0% |
| Capital | 10 | €18,592 | €18,592 | +€0 | 0.0% |
| Issued capital | 100 | €18,592 | €18,592 | +€0 | 0.0% |
| Reserves | 13 | €201,479 | €212,811 | +€11,332 | +5.6% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | +€0 | 0.0% |
| Legal reserve | 130 | €1,859 | €1,859 | +€0 | 0.0% |
| Distributable reserves | 133 | €199,620 | €210,951 | +€11,331 | +5.7% |
| Amounts payable | 17/49 | €66,826 | €45,258 | -€21,568 | -32.3% |
| Amounts payable within one year | 42/48 | €66,826 | €45,258 | -€21,568 | -32.3% |
| Trade debts | 44 | €18,016 | €9,447 | -€8,569 | -47.6% |
| Suppliers | 440/4 | €18,016 | €9,447 | -€8,569 | -47.6% |
| Taxes, remuneration and social security | 45 | €12,000 | - | -€12,000 | |
| Taxes | 450/3 | €12,000 | - | -€12,000 | |
| Other amounts payable | 47/48 | €36,810 | €35,810 | -€1,000 | -2.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €250 | - | -€250 | |
| Other operating charges | 640/8 | €4,628 | €6,715 | +€2,087 | +45.1% |
| Gross operating margin | 9900 | -€3,542 | €16,163 | +€19,705 | |
| Operating profit (loss) | 9901 | -€8,420 | €9,449 | +€17,869 | |
| Financial income | 75/76B | €741 | €3,283 | +€2,542 | +343.1% |
| Recurring financial income | 75 | €8 | €1,623 | +€1,615 | +20188.3% |
| Non-recurring financial income | 76B | €733 | €1,660 | +€927 | +126.5% |
| Financial charges | 65/66B | €622 | €349 | -€273 | -43.9% |
| Recurring financial charges | 65 | €622 | €349 | -€273 | -43.9% |
| Profit (loss) for the period before taxes | 9903 | -€8,301 | €12,383 | +€20,684 | |
| Income taxes | 67/77 | - | €1,052 | +€1,052 | |
| Profit (loss) for the period | 9904 | -€8,301 | €11,331 | +€19,632 | |
| Profit (loss) for the period to be appropriated | 9905 | -€8,301 | €11,331 | +€19,632 |
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 4 October 2026 via checked.be.