VANDENBERGHE & VAN ASSCHE: 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.
VANDENBERGHE & VAN ASSCHE
Largest movements
- Tangible fixed assets +€103,147
up €103,147 (+64.9%), from €158,957 to €262,104
of which Plant, machinery and equipment: +€123,253
- Receivables within one year +€38,975
up €38,975 (+36.4%), from €107,023 to €145,998
of which Trade receivables: +€36,654
- Cash -€22,829
down €22,829 (-12.4%), from €183,504 to €160,675
mainly Investment in fixed assets (net) (-€146,499) and Receivables within one year (-€38,975)
- Debts after one year +€49,270
up €49,270 (+141%), from €35,001 to €84,272
- Reserves +€28,383
up €28,383 (+7.0%), from €403,363 to €431,746
of which Distributable reserves: +€28,383
- Current portion of long-term debt +€17,380
up €17,380 (+106%), from €16,373 to €33,752
- Trade debts +€9,411
up €9,411 (+38.7%), from €24,307 to €33,719
- Tax, wage and social debts +€9,189
up €9,189 (+21.3%), from €43,082 to €52,271
of which Taxes: +€10,409
- Gross operating margin +€34,804
up €34,804 (+8.7%), from €400,016 to €434,820
- Staff costs +€21,985
up €21,985 (+7.7%), from €284,560 to €306,545
- Depreciation +€16,178
up €16,178 (+59.5%), from €27,175 to €43,352
- Taxes -€4,830
down €4,830 (-38.9%), from €12,414 to €7,583
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 | €569,081 | €687,755 | +€118,674 | +20.9% |
| Fixed assets | 21/28 | €158,957 | €262,104 | +€103,147 | +64.9% |
| Tangible fixed assets | 22/27 | €158,957 | €262,104 | +€103,147 | +64.9% |
| Plant, machinery and equipment | 23 | €20,937 | €144,190 | +€123,253 | +589% |
| Furniture and vehicles | 24 | €14,997 | €10,008 | -€4,989 | -33.3% |
| Other tangible fixed assets | 26 | €123,023 | €107,906 | -€15,118 | -12.3% |
| Current assets | 29/58 | €410,124 | €425,651 | +€15,528 | +3.8% |
| Stocks and contracts in progress | 3 | €117,866 | €118,089 | +€223 | +0.2% |
| Stocks | 30/36 | €117,866 | €118,089 | +€223 | +0.2% |
| Amounts receivable within one year | 40/41 | €107,023 | €145,998 | +€38,975 | +36.4% |
| Trade receivables | 40 | €107,023 | €143,676 | +€36,654 | +34.2% |
| Other amounts receivable | 41 | €0 | €2,321 | +€2,321 | |
| Cash at bank and in hand | 54/58 | €183,504 | €160,675 | -€22,829 | -12.4% |
| Deferred charges and accrued income | 490/1 | €1,731 | €890 | -€841 | -48.6% |
| Total equity and liabilities | 10/49 | €569,081 | €687,755 | +€118,674 | +20.9% |
| Equity | 10/15 | €410,031 | €438,414 | +€28,383 | +6.9% |
| Contributions | 10/11 | €6,668 | €6,668 | = | 0.0% |
| Reserves | 13 | €403,363 | €431,746 | +€28,383 | +7.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Other | 1319 | €0 | - | = | |
| Tax-exempt reserves | 132 | €72,040 | €72,040 | = | 0.0% |
| Distributable reserves | 133 | €331,323 | €359,706 | +€28,383 | +8.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €159,049 | €249,341 | +€90,292 | +56.8% |
| Amounts payable after more than one year | 17 | €35,001 | €84,272 | +€49,270 | +141% |
| Financial debts | 170/4 | €35,001 | €84,272 | +€49,270 | +141% |
| Amounts payable within one year | 42/48 | €119,254 | €160,186 | +€40,932 | +34.3% |
| Current portion of amounts payable after more than one year | 42 | €16,373 | €33,752 | +€17,380 | +106% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €24,307 | €33,719 | +€9,411 | +38.7% |
| Suppliers | 440/4 | €24,307 | €33,719 | +€9,411 | +38.7% |
| Taxes, remuneration and social security | 45 | €43,082 | €52,271 | +€9,189 | +21.3% |
| Taxes | 450/3 | €11,814 | €22,223 | +€10,409 | +88.1% |
| Remuneration and social security | 454/9 | €31,268 | €30,047 | -€1,221 | -3.9% |
| Other amounts payable | 47/48 | €35,492 | €40,444 | +€4,952 | +14.0% |
| Accrued charges and deferred income | 492/3 | €4,794 | €4,883 | +€89 | +1.9% |
| Non-recurring operating income | 76A | €0 | €53 | +€53 | |
| Remuneration, social security and pensions | 62 | €284,560 | €306,545 | +€21,985 | +7.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,175 | €43,352 | +€16,178 | +59.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€907 | -€907 | |
| Other operating charges | 640/8 | €6,300 | €7,623 | +€1,324 | +21.0% |
| Gross operating margin | 9900 | €400,016 | €434,820 | +€34,804 | +8.7% |
| Operating profit (loss) | 9901 | €81,982 | €78,206 | -€3,776 | -4.6% |
| Financial income | 75/76B | €1,238 | €284 | -€955 | -77.1% |
| Recurring financial income | 75 | €1,238 | €284 | -€955 | -77.1% |
| Financial charges | 65/66B | €13,177 | €12,523 | -€654 | -5.0% |
| Recurring financial charges | 65 | €13,177 | €12,523 | -€654 | -5.0% |
| Profit (loss) for the period before taxes | 9903 | €70,043 | €65,966 | -€4,077 | -5.8% |
| Income taxes | 67/77 | €12,414 | €7,583 | -€4,830 | -38.9% |
| Profit (loss) for the period | 9904 | €57,629 | €58,383 | +€754 | +1.3% |
| Profit (loss) for the period to be appropriated | 9905 | €57,629 | €58,383 | +€754 | +1.3% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.