VANDEMOORTELE: 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.
What changed
VANDEMOORTELE
NACE 28.990, Manufacture of machinery and equipment not elsewhere classified
financial year 2026 compared with 2025filed annual accounts (NBB)
Net result for the year
€136,959
2025 · €138,883-€1,923
Equity
€654,138
2025 · €517,179+€136,959
Cash
€85,226
2025 · €101,709-€16,484
Balance sheet total
€2.6m
2025 · €2.7m-€114,507
Largest movements
Assets
- Tangible fixed assets -€108,122
down €108,122 (-4.6%), from €2.3m to €2.2m
of which Land and buildings: -€68,640
Equity and liabilities
- Debts after one year -€145,695
down €145,695 (-13.5%), from €1.1m to €934,653
- Reserves +€136,000
up €136,000 (+27.5%), from €495,221 to €631,221
of which Distributable reserves: +€136,000
- Other debts -€126,414
down €126,414 (-18.6%), from €679,964 to €553,550
- Tax, wage and social debts +€39,320
up €39,320 (+78.9%), from €49,844 to €89,164
of which Taxes: +€37,551
Income statement
- Gross operating margin +€40,789
up €40,789 (+7.8%), from €523,024 to €563,813
- Taxes +€39,822
up €39,822 (+143%), from €27,845 to €67,667
- Write-downs -€18,559
down €18,559 (-32.5%), from -€57,052 to -€75,611
- Other operating charges +€10,900
up €10,900 (+80.6%), from €13,525 to €24,425
- Staff costs +€9,430
up €9,430 (+4.8%), from €196,933 to €206,363
From the 2025 result to the 2026 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.
Result 2025
€138,883
Gross operating margin
+€40,789
Staff costs
-€9,430
Depreciation
-€2,469
Write-downs
+€18,559
Other operating charges
-€10,900
Financial income
+€562
Financial charges
+€788
Taxes
-€39,822
Result 2026
€136,959
raises the resultlowers the result
Derived cash bridge
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€209,506
Investment
-€60,944
Financing
-€165,046
Cash 2025
€101,709
From operations (derived)
+€209,506
Net result for the year
+€136,959
Depreciation
+€169,065
Stocks and contracts
-€3,563
Receivables within one year
-€5,537
Deferred charges and accrued income
-€998
Trade debts
-€2,086
Tax, wage and social debts
+€39,320
Other debts
-€126,414
Accrued charges and deferred income
+€2,760
Investment (derived)
-€60,944
Investment in fixed assets (net)
-€60,944
Financing
-€165,046
Debts after one year
-€145,695
Current portion of long-term debt
-€19,352
Cash 2026
€85,226
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,736,434 | €2,621,927 | -€114,507 | -4.2% |
| Fixed assets | 21/28 | €2,345,598 | €2,237,477 | -€108,122 | -4.6% |
| Tangible fixed assets | 22/27 | €2,336,132 | €2,228,010 | -€108,122 | -4.6% |
| Land and buildings | 22 | €1,909,270 | €1,840,630 | -€68,640 | -3.6% |
| Plant, machinery and equipment | 23 | €380,185 | €337,609 | -€42,576 | -11.2% |
| Furniture and vehicles | 24 | €19,333 | €33,654 | +€14,321 | +74.1% |
| Other tangible fixed assets | 26 | €27,343 | €16,117 | -€11,226 | -41.1% |
| Financial fixed assets | 28 | €9,467 | €9,467 | = | 0.0% |
| Current assets | 29/58 | €390,836 | €384,450 | -€6,385 | -1.6% |
| Stocks and contracts in progress | 3 | €262,180 | €265,742 | +€3,563 | +1.4% |
| Stocks | 30/36 | €262,180 | €265,742 | +€3,563 | +1.4% |
| Amounts receivable within one year | 40/41 | €18,685 | €24,222 | +€5,537 | +29.6% |
| Trade receivables | 40 | - | €82 | +€82 | |
| Other amounts receivable | 41 | €18,685 | €24,140 | +€5,456 | +29.2% |
| Cash at bank and in hand | 54/58 | €101,709 | €85,226 | -€16,484 | -16.2% |
| Deferred charges and accrued income | 490/1 | €8,262 | €9,260 | +€998 | +12.1% |
| Total equity and liabilities | 10/49 | €2,736,434 | €2,621,927 | -€114,507 | -4.2% |
| Equity | 10/15 | €517,179 | €654,138 | +€136,959 | +26.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €495,221 | €631,221 | +€136,000 | +27.5% |
| Tax-exempt reserves | 132 | €3,221 | €3,221 | = | 0.0% |
| Distributable reserves | 133 | €492,000 | €628,000 | +€136,000 | +27.6% |
| Profit (loss) carried forward | 14 | €1,958 | €2,918 | +€959 | +49.0% |
| Provisions and deferred taxes | 16 | €129,609 | €129,609 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €129,609 | €129,609 | = | 0.0% |
| Pensions and similar obligations | 160 | €129,609 | €129,609 | = | 0.0% |
| Amounts payable | 17/49 | €2,089,646 | €1,838,180 | -€251,466 | -12.0% |
| Amounts payable after more than one year | 17 | €1,080,347 | €934,653 | -€145,695 | -13.5% |
| Financial debts | 170/4 | €1,080,347 | €934,653 | -€145,695 | -13.5% |
| Amounts payable within one year | 42/48 | €920,762 | €812,231 | -€108,532 | -11.8% |
| Current portion of amounts payable after more than one year | 42 | €188,868 | €169,516 | -€19,352 | -10.2% |
| Trade debts | 44 | €2,086 | - | -€2,086 | |
| Suppliers | 440/4 | €2,086 | - | -€2,086 | |
| Taxes, remuneration and social security | 45 | €49,844 | €89,164 | +€39,320 | +78.9% |
| Taxes | 450/3 | €27,528 | €65,079 | +€37,551 | +136% |
| Remuneration and social security | 454/9 | €22,316 | €24,085 | +€1,768 | +7.9% |
| Other amounts payable | 47/48 | €679,964 | €553,550 | -€126,414 | -18.6% |
| Accrued charges and deferred income | 492/3 | €88,536 | €91,297 | +€2,760 | +3.1% |
| Non-recurring operating income | 76A | €500 | - | -€500 | |
| Remuneration, social security and pensions | 62 | €196,933 | €206,363 | +€9,430 | +4.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €166,596 | €169,065 | +€2,469 | +1.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€57,052 | -€75,611 | -€18,559 | -32.5% |
| Other operating charges | 640/8 | €13,525 | €24,425 | +€10,900 | +80.6% |
| Gross operating margin | 9900 | €523,024 | €563,813 | +€40,789 | +7.8% |
| Operating profit (loss) | 9901 | €203,022 | €239,571 | +€36,549 | +18.0% |
| Financial income | 75/76B | €20,314 | €20,876 | +€562 | +2.8% |
| Recurring financial income | 75 | €20,314 | €20,876 | +€562 | +2.8% |
| Financial charges | 65/66B | €56,608 | €55,820 | -€788 | -1.4% |
| Recurring financial charges | 65 | €56,608 | €55,820 | -€788 | -1.4% |
| Profit (loss) for the period before taxes | 9903 | €166,728 | €204,626 | +€37,898 | +22.7% |
| Income taxes | 67/77 | €27,845 | €67,667 | +€39,822 | +143% |
| Profit (loss) for the period | 9904 | €138,883 | €136,959 | -€1,923 | -1.4% |
| Profit (loss) for the period to be appropriated | 9905 | €138,883 | €136,959 | -€1,923 | -1.4% |
Source: filed annual accounts (NBB), financial years ended 31 January 2025 and 31 January 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.