VANDEMAELE PROJECTS: 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.
VANDEMAELE PROJECTS
Largest movements
- Receivables within one year -€42,425
down €42,425 (-82.4%), from €51,491 to €9,066
of which Trade receivables: -€42,052
- Tangible fixed assets +€37,345
up €37,345 (+6.5%), from €575,061 to €612,406
of which Land and buildings: +€38,163
- Trade debts -€32,988
down €32,988 (-43.2%), from €76,306 to €43,318
- Current portion of long-term debt +€31,944
new in 2025: €31,944
- Short-term financial debts -€31,541
no longer reported in 2025 (was €31,541)
- Profit (loss) carried forward +€20,899
up €20,899 (+137.2%), from €15,228 to €36,127
- Other debts +€9,750
up €9,750 (+10.6%), from €91,553 to €101,302
- Gross operating margin +€18,298
up €18,298 (+41.0%), from €44,662 to €62,960
- Depreciation +€8,634
up €8,634 (+61.7%), from €14,000 to €22,634
- Financial charges +€3,066
up €3,066 (+54.0%), from €5,677 to €8,743
- Taxes +€1,800
up €1,800 (+38.3%), from €4,695 to €6,495
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 | €629,693 | €628,760 | -€933 | -0.1% |
| Fixed assets | 21/28 | €575,061 | €612,406 | +€37,345 | +6.5% |
| Tangible fixed assets | 22/27 | €575,061 | €612,406 | +€37,345 | +6.5% |
| Land and buildings | 22 | €573,451 | €611,614 | +€38,163 | +6.7% |
| Furniture and vehicles | 24 | €1,610 | €791 | -€818 | -50.8% |
| Current assets | 29/58 | €54,632 | €16,354 | -€38,278 | -70.1% |
| Amounts receivable within one year | 40/41 | €51,491 | €9,066 | -€42,425 | -82.4% |
| Trade receivables | 40 | €51,102 | €9,051 | -€42,052 | -82.3% |
| Other amounts receivable | 41 | €388 | €15 | -€373 | -96.1% |
| Cash at bank and in hand | 54/58 | €1,555 | €4,190 | +€2,634 | +169.4% |
| Deferred charges and accrued income | 490/1 | €1,586 | €3,099 | +€1,512 | +95.4% |
| Total equity and liabilities | 10/49 | €629,693 | €628,760 | -€933 | -0.1% |
| Equity | 10/15 | €35,228 | €56,127 | +€20,899 | +59.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,228 | €36,127 | +€20,899 | +137.2% |
| Amounts payable | 17/49 | €594,466 | €572,633 | -€21,833 | -3.7% |
| Amounts payable after more than one year | 17 | €383,771 | €382,827 | -€944 | -0.2% |
| Financial debts | 170/4 | €383,771 | €382,827 | -€944 | -0.2% |
| Amounts payable within one year | 42/48 | €210,695 | €189,806 | -€20,889 | -9.9% |
| Current portion of amounts payable after more than one year | 42 | - | €31,944 | +€31,944 | |
| Financial debts | 43 | €31,541 | - | -€31,541 | |
| Credit institutions | 430/8 | €31,541 | - | -€31,541 | |
| Trade debts | 44 | €76,306 | €43,318 | -€32,988 | -43.2% |
| Suppliers | 440/4 | €76,306 | €43,318 | -€32,988 | -43.2% |
| Taxes, remuneration and social security | 45 | €11,295 | €13,242 | +€1,947 | +17.2% |
| Taxes | 450/3 | €8,295 | €10,242 | +€1,947 | +23.5% |
| Remuneration and social security | 454/9 | €3,000 | €3,000 | = | 0.0% |
| Other amounts payable | 47/48 | €91,553 | €101,302 | +€9,750 | +10.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,000 | €22,634 | +€8,634 | +61.7% |
| Other operating charges | 640/8 | €4,094 | €4,204 | +€109 | +2.7% |
| Gross operating margin | 9900 | €44,662 | €62,960 | +€18,298 | +41.0% |
| Operating profit (loss) | 9901 | €26,568 | €36,122 | +€9,554 | +36.0% |
| Financial income | 75/76B | €383 | €15 | -€368 | -96.1% |
| Recurring financial income | 75 | €383 | €15 | -€368 | -96.1% |
| Financial charges | 65/66B | €5,677 | €8,743 | +€3,066 | +54.0% |
| Recurring financial charges | 65 | €5,677 | €8,743 | +€3,066 | +54.0% |
| Profit (loss) for the period before taxes | 9903 | €21,275 | €27,394 | +€6,120 | +28.8% |
| Income taxes | 67/77 | €4,695 | €6,495 | +€1,800 | +38.3% |
| Profit (loss) for the period | 9904 | €16,580 | €20,899 | +€4,320 | +26.1% |
| Profit (loss) for the period to be appropriated | 9905 | €16,580 | €20,899 | +€4,320 | +26.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.