VANDENBERGHE: 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
VANDENBERGHE
NACE 43.221, Plumbing work
financial year 31-12-2024 against 31-12-2025filed annual accounts (NBB)
Net result for the year
€43,712
31-12-2024 · -€197,530+€241,241
Equity
€564,988
31-12-2024 · €521,276+€43,712
Cash
€59,887
31-12-2024 · €22,588+€37,299
Balance sheet total
€4.2m
31-12-2024 · €4.4m-€254,961
Largest movements
Assets
- Receivables within one year -€250,458
down €250,458 (-16.9%), from €1.5m to €1.2m
of which Trade receivables: -€203,135
- Tangible fixed assets -€125,960
down €125,960 (-19.9%), from €633,203 to €507,244
of which Leasing and similar rights: -€92,840
- Receivables after one year +€100,176
up €100,176 (+29.8%), from €335,772 to €435,948
Equity and liabilities
- Trade debts -€565,790
down €565,790 (-35.5%), from €1.6m to €1.0m
- Debts after one year +€352,944
up €352,944 (+68.0%), from €518,768 to €871,712
of which Other amounts payable: +€405,946
- Short-term financial debts -€73,626
down €73,626 (-5.8%), from €1.3m to €1.2m
- Accrued charges and deferred income +€47,715
up €47,715 (+471.0%), from €10,130 to €57,845
Income statement
- Staff costs -€315,545
down €315,545 (-13.2%), from €2.4m to €2.1m
- Gross operating margin -€149,338
down €149,338 (-5.9%), from €2.5m to €2.4m
- Financial charges -€46,201
down €46,201 (-29.1%), from €158,820 to €112,618
- Depreciation -€28,007
down €28,007 (-15.8%), from €176,815 to €148,808
From the 31-12-2024 result to the 31-12-2025 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.
Result 31-12-2024
-€197,530
Gross operating margin
-€149,338
Staff costs
+€315,545
Depreciation
+€28,007
Other operating charges
+€3,469
Other operating items
+€4,716
Financial income
-€7,201
Financial charges
+€46,201
Taxes
-€158
Result 31-12-2025
€43,712
Cash bridge derived
Derived from the 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
-€180,307
Investment
-€19,331
Financing
+€236,936
Cash 31-12-2024
€22,588
From operations (derived)
-€180,307
Net result for the year
+€43,712
Depreciation
+€148,808
Receivables after one year
-€100,176
Stocks and contracts
-€18,957
Receivables within one year
+€250,458
Deferred charges and accrued income
+€31,457
Trade debts
-€565,790
Tax, wage and social debts
-€22,064
Other debts
+€4,530
Accrued charges and deferred income
+€47,715
Investment (derived)
-€19,331
Investment in fixed assets (net)
-€19,331
Financing
+€236,936
Debts after one year
+€352,944
Current portion of long-term debt
-€42,382
Short-term financial debts
-€73,626
Cash 31-12-2025
€59,887
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,430,651 | €4,175,690 | -€254,961 | -5.8% |
| Fixed assets | 21/28 | €662,282 | €532,805 | -€129,477 | -19.6% |
| Intangible fixed assets | 21 | €27,354 | €23,836 | -€3,518 | -12.9% |
| Tangible fixed assets | 22/27 | €633,203 | €507,244 | -€125,960 | -19.9% |
| Plant, machinery and equipment | 23 | €32,661 | €20,202 | -€12,459 | -38.1% |
| Furniture and vehicles | 24 | €33,475 | €55,729 | +€22,255 | +66.5% |
| Leasing and similar rights | 25 | €296,787 | €203,947 | -€92,840 | -31.3% |
| Other tangible fixed assets | 26 | €270,280 | €227,365 | -€42,915 | -15.9% |
| Financial fixed assets | 28 | €1,725 | €1,725 | = | 0.0% |
| Current assets | 29/58 | €3,768,369 | €3,642,886 | -€125,484 | -3.3% |
| Amounts receivable after more than one year | 29 | €335,772 | €435,948 | +€100,176 | +29.8% |
| Other amounts receivable | 291 | €335,772 | €435,948 | +€100,176 | +29.8% |
| Stocks and contracts in progress | 3 | €1,866,663 | €1,885,620 | +€18,957 | +1.0% |
| Stocks | 30/36 | €1,424,735 | €1,398,953 | -€25,782 | -1.8% |
| Contracts in progress | 37 | €441,928 | €486,667 | +€44,739 | +10.1% |
| Amounts receivable within one year | 40/41 | €1,484,456 | €1,233,998 | -€250,458 | -16.9% |
| Trade receivables | 40 | €1,371,103 | €1,167,968 | -€203,135 | -14.8% |
| Other amounts receivable | 41 | €113,353 | €66,030 | -€47,323 | -41.7% |
| Cash at bank and in hand | 54/58 | €22,588 | €59,887 | +€37,299 | +165.1% |
| Deferred charges and accrued income | 490/1 | €58,890 | €27,433 | -€31,457 | -53.4% |
| Total equity and liabilities | 10/49 | €4,430,651 | €4,175,690 | -€254,961 | -5.8% |
| Equity | 10/15 | €521,276 | €564,988 | +€43,712 | +8.4% |
| Contributions | 10/11 | €39,408 | €39,408 | = | 0.0% |
| Reserves | 13 | €481,868 | €525,580 | +€43,712 | +9.1% |
| Distributable reserves | 133 | €481,868 | €525,580 | +€43,712 | +9.1% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €3,909,375 | €3,610,702 | -€298,673 | -7.6% |
| Amounts payable after more than one year | 17 | €518,768 | €871,712 | +€352,944 | +68.0% |
| Financial debts | 170/4 | €518,768 | €465,766 | -€53,002 | -10.2% |
| Other amounts payable | 178/9 | - | €405,946 | +€405,946 | |
| Amounts payable within one year | 42/48 | €3,380,477 | €2,681,146 | -€699,332 | -20.7% |
| Current portion of amounts payable after more than one year | 42 | €352,200 | €309,819 | -€42,382 | -12.0% |
| Financial debts | 43 | €1,277,155 | €1,203,529 | -€73,626 | -5.8% |
| Credit institutions | 430/8 | €1,277,155 | €1,203,529 | -€73,626 | -5.8% |
| Trade debts | 44 | €1,594,323 | €1,028,533 | -€565,790 | -35.5% |
| Suppliers | 440/4 | €1,594,323 | €1,028,533 | -€565,790 | -35.5% |
| Taxes, remuneration and social security | 45 | €156,799 | €134,735 | -€22,064 | -14.1% |
| Taxes | 450/3 | €8,684 | €26,403 | +€17,719 | +204.0% |
| Remuneration and social security | 454/9 | €148,114 | €108,332 | -€39,783 | -26.9% |
| Other amounts payable | 47/48 | €0 | €4,530 | +€4,530 | |
| Accrued charges and deferred income | 492/3 | €10,130 | €57,845 | +€47,715 | +471.0% |
| Non-recurring operating income | 76A | €32,809 | €39,501 | +€6,693 | +20.4% |
| Remuneration, social security and pensions | 62 | €2,390,376 | €2,074,831 | -€315,545 | -13.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €176,815 | €148,808 | -€28,007 | -15.8% |
| Other operating charges | 640/8 | €10,811 | €7,343 | -€3,469 | -32.1% |
| Non-recurring operating charges | 66A | €4,716 | €0 | -€4,716 | -100.0% |
| Gross operating margin | 9900 | €2,523,863 | €2,374,525 | -€149,338 | -5.9% |
| Operating profit (loss) | 9901 | -€58,855 | €143,543 | +€202,398 | |
| Financial income | 75/76B | €20,259 | €13,058 | -€7,201 | -35.5% |
| Recurring financial income | 75 | €20,259 | €13,058 | -€7,201 | -35.5% |
| Financial charges | 65/66B | €158,820 | €112,618 | -€46,201 | -29.1% |
| Recurring financial charges | 65 | €158,820 | €112,618 | -€46,201 | -29.1% |
| Profit (loss) for the period before taxes | 9903 | -€197,415 | €43,984 | +€241,399 | |
| Income taxes | 67/77 | €114 | €272 | +€158 | +138.0% |
| Profit (loss) for the period | 9904 | -€197,530 | €43,712 | +€241,241 | |
| Profit (loss) for the period to be appropriated | 9905 | -€197,530 | €43,712 | +€241,241 |
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 11 October 2026 via checked.be.