VANDENABEELE PJ: what changed
VANDENABEELE PJ
Largest movements
- Cash +€15,629
up €15,629 (+126%), from €12,392 to €28,021
mainly Depreciation (+€37,429) and Net result for the year (+€18,434)
- Intangible fixed assets -€14,000
down €14,000 (-34.3%), from €40,811 to €26,811
- Receivables within one year +€9,209
up €9,209 (+1,254%), from €734 to €9,943
of which Other amounts receivable: +€8,369
- Tangible fixed assets +€3,750
up €3,750 (+1.6%), from €235,445 to €239,195
of which Plant, machinery and equipment: +€22,516
- Reserves +€18,430
up €18,430 (+21.7%), from €85,073 to €103,503
- Debts after one year -€15,428
down €15,428 (-9.3%), from €165,287 to €149,858
- Current portion of long-term debt +€9,226
up €9,226 (+22.6%), from €40,781 to €50,007
- Tax, wage and social debts +€4,500
up €4,500 (+240%), from €1,872 to €6,372
- Other debts -€3,972
down €3,972 (-21.1%), from €18,846 to €14,874
- Financial charges +€740
up €740 (+18.1%), from €4,096 to €4,836
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €340,166 | €353,970 | +€13,804 | +4.1% |
| Fixed assets | 21/28 | €276,256 | €266,006 | -€10,250 | -3.7% |
| Intangible fixed assets | 21 | €40,811 | €26,811 | -€14,000 | -34.3% |
| Tangible fixed assets | 22/27 | €235,445 | €239,195 | +€3,750 | +1.6% |
| Land and buildings | 22 | €190,764 | €185,562 | -€5,202 | -2.7% |
| Plant, machinery and equipment | 23 | €8,745 | €31,261 | +€22,516 | +257% |
| Furniture and vehicles | 24 | €35,936 | €22,372 | -€13,564 | -37.7% |
| Current assets | 29/58 | €63,910 | €87,964 | +€24,054 | +37.6% |
| Amounts receivable within one year | 40/41 | €734 | €9,943 | +€9,209 | +1,254% |
| Trade receivables | 40 | - | €840 | +€840 | |
| Other amounts receivable | 41 | €734 | €9,103 | +€8,369 | +1,140% |
| Current investments | 50/53 | €49,512 | €50,000 | +€488 | +1.0% |
| Cash at bank and in hand | 54/58 | €12,392 | €28,021 | +€15,629 | +126% |
| Deferred charges and accrued income | 490/1 | €1,271 | - | -€1,271 | |
| Total equity and liabilities | 10/49 | €340,166 | €353,970 | +€13,804 | +4.1% |
| Equity | 10/15 | €113,120 | €131,554 | +€18,434 | +16.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €85,073 | €103,503 | +€18,430 | +21.7% |
| Distributable reserves | 133 | €85,073 | €103,503 | +€18,430 | +21.7% |
| Profit (loss) carried forward | 14 | €23,046 | €23,050 | +€4 | 0.0% |
| Amounts payable | 17/49 | €227,046 | €222,416 | -€4,630 | -2.0% |
| Amounts payable after more than one year | 17 | €165,287 | €149,858 | -€15,428 | -9.3% |
| Financial debts | 170/4 | €165,287 | €149,858 | -€15,428 | -9.3% |
| Amounts payable within one year | 42/48 | €61,759 | €72,558 | +€10,798 | +17.5% |
| Current portion of amounts payable after more than one year | 42 | €40,781 | €50,007 | +€9,226 | +22.6% |
| Trade debts | 44 | €260 | €1,305 | +€1,044 | +401% |
| Suppliers | 440/4 | €260 | €1,305 | +€1,044 | +401% |
| Taxes, remuneration and social security | 45 | €1,872 | €6,372 | +€4,500 | +240% |
| Taxes | 450/3 | €1,872 | €6,372 | +€4,500 | +240% |
| Other amounts payable | 47/48 | €18,846 | €14,874 | -€3,972 | -21.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,425 | €37,429 | +€5 | 0.0% |
| Other operating charges | 640/8 | €1,030 | €1,374 | +€344 | +33.4% |
| Gross operating margin | 9900 | €70,677 | €70,026 | -€651 | -0.9% |
| Operating profit (loss) | 9901 | €32,222 | €31,222 | -€1,000 | -3.1% |
| Financial income | 75/76B | €1,503 | €1,787 | +€283 | +18.8% |
| Recurring financial income | 75 | €1,503 | €1,787 | +€283 | +18.8% |
| Financial charges | 65/66B | €4,096 | €4,836 | +€740 | +18.1% |
| Recurring financial charges | 65 | €4,096 | €4,836 | +€740 | +18.1% |
| Profit (loss) for the period before taxes | 9903 | €29,629 | €28,173 | -€1,456 | -4.9% |
| Income taxes | 67/77 | €9,390 | €9,739 | +€349 | +3.7% |
| Profit (loss) for the period | 9904 | €20,240 | €18,434 | -€1,805 | -8.9% |
| Profit (loss) for the period to be appropriated | 9905 | €20,240 | €18,434 | -€1,805 | -8.9% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.