VANDEMEULEBROUCKE WERNER: 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.
VANDEMEULEBROUCKE WERNER
Largest movements
- Receivables within one year +€20,423
up €20,423 (+198%), from €10,298 to €30,721
of which Trade receivables: +€21,738
- Profit (loss) carried forward -€85,714
down €85,714 (-83.8%), from €102,287 to €16,572
- Other debts +€72,623
up €72,623 (+474%), from €15,336 to €87,960
- Reserves +€36,956
up €36,956 (+39.4%), from €93,880 to €130,837
of which Distributable reserves: +€36,956
- Gross operating margin +€7,378
up €7,378 (+14.1%), from €52,391 to €59,769
- Depreciation +€1,781
up €1,781 (+596%), from €299 to €2,080
- Taxes +€1,315
up €1,315 (+7.1%), from €18,441 to €19,755
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 | €233,064 | €257,684 | +€24,621 | +10.6% |
| Fixed assets | 21/28 | €1,004 | €3,524 | +€2,520 | +251% |
| Tangible fixed assets | 22/27 | €1,004 | €3,524 | +€2,520 | +251% |
| Plant, machinery and equipment | 23 | €1,004 | €606 | -€398 | -39.6% |
| Furniture and vehicles | 24 | - | €2,918 | +€2,918 | |
| Current assets | 29/58 | €232,060 | €254,161 | +€22,101 | +9.5% |
| Amounts receivable within one year | 40/41 | €10,298 | €30,721 | +€20,423 | +198% |
| Trade receivables | 40 | €7,770 | €29,508 | +€21,738 | +280% |
| Other amounts receivable | 41 | €2,528 | €1,214 | -€1,315 | -52.0% |
| Cash at bank and in hand | 54/58 | €221,582 | €223,037 | +€1,456 | +0.7% |
| Deferred charges and accrued income | 490/1 | €180 | €402 | +€222 | +123% |
| Total equity and liabilities | 10/49 | €233,064 | €257,684 | +€24,621 | +10.6% |
| Equity | 10/15 | €208,567 | €159,809 | -€48,758 | -23.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €93,880 | €130,837 | +€36,956 | +39.4% |
| Non-distributable reserves | 130/1 | €1,053 | €1,053 | = | 0.0% |
| Other | 1319 | €1,053 | €1,053 | = | 0.0% |
| Distributable reserves | 133 | €92,827 | €129,783 | +€36,956 | +39.8% |
| Profit (loss) carried forward | 14 | €102,287 | €16,572 | -€85,714 | -83.8% |
| Amounts payable | 17/49 | €24,497 | €97,876 | +€73,379 | +300% |
| Amounts payable within one year | 42/48 | €24,497 | €97,876 | +€73,379 | +300% |
| Trade debts | 44 | €3,371 | €4,617 | +€1,246 | +37.0% |
| Suppliers | 440/4 | €3,371 | €4,617 | +€1,246 | +37.0% |
| Advances received on contracts in progress | 46 | €3,031 | €3,031 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €2,758 | €2,268 | -€491 | -17.8% |
| Taxes | 450/3 | €2,758 | €2,268 | -€491 | -17.8% |
| Other amounts payable | 47/48 | €15,336 | €87,960 | +€72,623 | +474% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €299 | €2,080 | +€1,781 | +596% |
| Other operating charges | 640/8 | €1,041 | €919 | -€122 | -11.7% |
| Gross operating margin | 9900 | €52,391 | €59,769 | +€7,378 | +14.1% |
| Operating profit (loss) | 9901 | €51,051 | €56,769 | +€5,718 | +11.2% |
| Financial charges | 65/66B | €65 | €58 | -€7 | -11.1% |
| Recurring financial charges | 65 | €65 | €58 | -€7 | -11.1% |
| Profit (loss) for the period before taxes | 9903 | €50,986 | €56,712 | +€5,726 | +11.2% |
| Income taxes | 67/77 | €18,441 | €19,755 | +€1,315 | +7.1% |
| Profit (loss) for the period | 9904 | €32,545 | €36,956 | +€4,411 | +13.6% |
| Profit (loss) for the period to be appropriated | 9905 | €32,545 | €36,956 | +€4,411 | +13.6% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.