VANDEMAELE FREDDY: 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 FREDDY
Largest movements
- Cash -€25,517
down €25,517 (-48.3%), from €52,841 to €27,324
mainly Investment in fixed assets (net) (-€41,907) and Receivables within one year (-€20,077)
- Tangible fixed assets +€23,185
up €23,185 (+31.5%), from €73,515 to €96,700
of which Furniture and vehicles: +€17,375
- Receivables within one year +€20,077
up €20,077 (+44.2%), from €45,390 to €65,467
- Deferred charges and accrued income -€3,420
down €3,420 (-40.8%), from €8,386 to €4,966
- Reserves +€25,798
up €25,798 (+28.9%), from €89,202 to €115,000
of which Distributable reserves: +€25,798
- Trade debts -€5,529
down €5,529 (-15.0%), from €36,951 to €31,422
- Tax, wage and social debts -€3,624
down €3,624 (-37.4%), from €9,696 to €6,072
- Current portion of long-term debt -€2,145
down €2,145 (-100%), from €2,145 to €0
- Gross operating margin +€11,085
up €11,085 (+16.2%), from €68,503 to €79,587
- Depreciation +€6,033
up €6,033 (+47.5%), from €12,689 to €18,722
- Other operating charges +€1,545
up €1,545 (+57.6%), from €2,682 to €4,226
- Financial charges +€1,004
up €1,004 (+35.4%), from €2,839 to €3,842
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 | €184,191 | €198,517 | +€14,326 | +7.8% |
| Fixed assets | 21/28 | €73,515 | €96,700 | +€23,185 | +31.5% |
| Tangible fixed assets | 22/27 | €73,515 | €96,700 | +€23,185 | +31.5% |
| Land and buildings | 22 | €22,988 | €30,898 | +€7,909 | +34.4% |
| Plant, machinery and equipment | 23 | €18,297 | €20,570 | +€2,274 | +12.4% |
| Furniture and vehicles | 24 | €20,572 | €37,948 | +€17,375 | +84.5% |
| Other tangible fixed assets | 26 | €11,658 | €7,284 | -€4,374 | -37.5% |
| Current assets | 29/58 | €110,676 | €101,817 | -€8,859 | -8.0% |
| Stocks and contracts in progress | 3 | €4,060 | €4,060 | = | 0.0% |
| Stocks | 30/36 | €4,060 | €4,060 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €45,390 | €65,467 | +€20,077 | +44.2% |
| Other amounts receivable | 41 | €45,390 | €65,467 | +€20,077 | +44.2% |
| Cash at bank and in hand | 54/58 | €52,841 | €27,324 | -€25,517 | -48.3% |
| Deferred charges and accrued income | 490/1 | €8,386 | €4,966 | -€3,420 | -40.8% |
| Total equity and liabilities | 10/49 | €184,191 | €198,517 | +€14,326 | +7.8% |
| Equity | 10/15 | €108,695 | €134,462 | +€25,767 | +23.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €89,202 | €115,000 | +€25,798 | +28.9% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €89,202 | €115,000 | +€25,798 | +28.9% |
| Profit (loss) carried forward | 14 | €892 | €862 | -€31 | -3.4% |
| Amounts payable | 17/49 | €75,496 | €64,055 | -€11,441 | -15.2% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €75,496 | €64,055 | -€11,441 | -15.2% |
| Current portion of amounts payable after more than one year | 42 | €2,145 | €0 | -€2,145 | -100% |
| Trade debts | 44 | €36,951 | €31,422 | -€5,529 | -15.0% |
| Suppliers | 440/4 | €36,951 | €31,422 | -€5,529 | -15.0% |
| Taxes, remuneration and social security | 45 | €9,696 | €6,072 | -€3,624 | -37.4% |
| Taxes | 450/3 | €9,696 | €6,072 | -€3,624 | -37.4% |
| Other amounts payable | 47/48 | €26,704 | €26,561 | -€143 | -0.5% |
| Non-recurring operating income | 76A | - | €450 | +€450 | |
| Remuneration, social security and pensions | 62 | - | €41 | +€41 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,689 | €18,722 | +€6,033 | +47.5% |
| Other operating charges | 640/8 | €2,682 | €4,226 | +€1,545 | +57.6% |
| Gross operating margin | 9900 | €68,503 | €79,587 | +€11,085 | +16.2% |
| Operating profit (loss) | 9901 | €53,132 | €56,598 | +€3,466 | +6.5% |
| Financial income | 75/76B | €2,384 | €2,338 | -€46 | -1.9% |
| Recurring financial income | 75 | €2,384 | €2,338 | -€46 | -1.9% |
| Financial charges | 65/66B | €2,839 | €3,842 | +€1,004 | +35.4% |
| Recurring financial charges | 65 | €2,839 | €3,842 | +€1,004 | +35.4% |
| Profit (loss) for the period before taxes | 9903 | €52,677 | €55,094 | +€2,416 | +4.6% |
| Income taxes | 67/77 | €9,432 | €9,327 | -€105 | -1.1% |
| Profit (loss) for the period | 9904 | €43,246 | €45,767 | +€2,521 | +5.8% |
| Profit (loss) for the period to be appropriated | 9905 | €43,246 | €45,767 | +€2,521 | +5.8% |
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 29 October 2026 via checked.be.