VANDEMAELE: 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.
VANDEMAELE
Largest movements
- Cash -€5,178
down €5,178 (-7.4%), from €69,646 to €64,468
mainly Contributions, distributions and other (-€53,768) and Tax, wage and social debts (-€1,980)
- Tangible fixed assets -€3,328
down €3,328 (-100%), from €3,328 to €0
- Reserves -€42,018
down €42,018 (-31.8%), from €131,935 to €89,917
- Other debts +€32,448
up €32,448 (+187%), from €17,318 to €49,766
- Trade debts +€2,631
up €2,631 (+159%), from €1,650 to €4,280
- Accrued charges and deferred income +€2,327
up €2,327, from €0 to €2,327
- Depreciation -€3,421
down €3,421 (-50.7%), from €6,749 to €3,328
- Gross operating margin -€2,747
down €2,747 (-12.0%), from €22,960 to €20,213
- Financial charges +€2,335
up €2,335 (+1,101%), from €212 to €2,548
- Taxes -€1,733
down €1,733 (-32.4%), from €5,350 to €3,618
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 | €206,436 | €199,844 | -€6,592 | -3.2% |
| Fixed assets | 21/28 | €3,328 | €0 | -€3,328 | -100% |
| Tangible fixed assets | 22/27 | €3,328 | €0 | -€3,328 | -100% |
| Furniture and vehicles | 24 | €3,328 | €0 | -€3,328 | -100% |
| Current assets | 29/58 | €203,108 | €199,844 | -€3,264 | -1.6% |
| Amounts receivable within one year | 40/41 | €131,675 | €133,576 | +€1,900 | +1.4% |
| Trade receivables | 40 | €5,143 | €5,143 | = | 0.0% |
| Other amounts receivable | 41 | €126,533 | €128,433 | +€1,900 | +1.5% |
| Cash at bank and in hand | 54/58 | €69,646 | €64,468 | -€5,178 | -7.4% |
| Deferred charges and accrued income | 490/1 | €1,787 | €1,800 | +€14 | +0.8% |
| Total equity and liabilities | 10/49 | €206,436 | €199,844 | -€6,592 | -3.2% |
| Equity | 10/15 | €181,513 | €139,495 | -€42,018 | -23.1% |
| Contributions | 10/11 | €49,579 | €49,579 | = | 0.0% |
| Reserves | 13 | €131,935 | €89,917 | -€42,018 | -31.8% |
| Distributable reserves | 133 | €131,935 | €89,917 | -€42,018 | -31.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €24,923 | €60,348 | +€35,426 | +142% |
| Amounts payable within one year | 42/48 | €24,923 | €58,021 | +€33,099 | +133% |
| Trade debts | 44 | €1,650 | €4,280 | +€2,631 | +159% |
| Suppliers | 440/4 | €1,650 | €4,280 | +€2,631 | +159% |
| Taxes, remuneration and social security | 45 | €5,955 | €3,975 | -€1,980 | -33.2% |
| Taxes | 450/3 | €5,955 | €3,975 | -€1,980 | -33.2% |
| Other amounts payable | 47/48 | €17,318 | €49,766 | +€32,448 | +187% |
| Accrued charges and deferred income | 492/3 | €0 | €2,327 | +€2,327 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,749 | €3,328 | -€3,421 | -50.7% |
| Other operating charges | 640/8 | €3,184 | €3,283 | +€99 | +3.1% |
| Gross operating margin | 9900 | €22,960 | €20,213 | -€2,747 | -12.0% |
| Operating profit (loss) | 9901 | €13,027 | €13,602 | +€575 | +4.4% |
| Financial income | 75/76B | €4,168 | €4,313 | +€146 | +3.5% |
| Recurring financial income | 75 | €4,168 | €4,313 | +€146 | +3.5% |
| Financial charges | 65/66B | €212 | €2,548 | +€2,335 | +1,101% |
| Recurring financial charges | 65 | €212 | €2,548 | +€2,335 | +1,101% |
| Profit (loss) for the period before taxes | 9903 | €16,983 | €15,368 | -€1,615 | -9.5% |
| Income taxes | 67/77 | €5,350 | €3,618 | -€1,733 | -32.4% |
| Profit (loss) for the period | 9904 | €11,632 | €11,750 | +€118 | +1.0% |
| Profit (loss) for the period to be appropriated | 9905 | €11,632 | €11,750 | +€118 | +1.0% |
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 15 October 2026 via checked.be.