VANDENBORRE - DEVOS: what changed
Two fiscal 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.
VANDENBORRE - DEVOS
Largest movements
- Cash +€189,989
up €189,989 (+478.0%), from €39,747 to €229,736
mainly Net result for the year (+€109,399) and Current investments (+€70,004)
- Current investments -€70,004
down €70,004 (-38.9%), from €180,000 to €109,996
- Receivables after one year -€40,120
down €40,120 (-62.2%), from €64,534 to €24,415
- Receivables within one year -€36,056
down €36,056 (-31.9%), from €112,979 to €76,923
of which Other amounts receivable: -€33,442
- Tangible fixed assets -€23,933
down €23,933 (-7.7%), from €310,723 to €286,790
of which Land and buildings: -€17,864
- Reserves +€109,399
up €109,399 (+20.3%), from €539,069 to €648,468
- Other debts -€94,709
down €94,709 (-85.6%), from €110,660 to €15,951
- Tax, wage and social debts +€32,692
up €32,692 (+263.8%), from €12,391 to €45,082
- Current portion of long-term debt -€14,667
down €14,667 (-100.0%), from €14,667 to €0
- Short-term financial debts -€8,450
down €8,450 (-85.4%), from €9,891 to €1,441
- Gross operating margin +€54,963
up €54,963 (+41.4%), from €132,681 to €187,644
- Taxes +€18,382
up €18,382 (+68.4%), from €26,871 to €45,253
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.
Cash bridge derived
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 | €707,983 | €727,860 | +€19,876 | +2.8% |
| Fixed assets | 21/28 | €310,723 | €286,790 | -€23,933 | -7.7% |
| Tangible fixed assets | 22/27 | €310,723 | €286,790 | -€23,933 | -7.7% |
| Land and buildings | 22 | €288,632 | €270,768 | -€17,864 | -6.2% |
| Plant, machinery and equipment | 23 | €17,908 | €13,244 | -€4,665 | -26.0% |
| Furniture and vehicles | 24 | €4,183 | €2,778 | -€1,405 | -33.6% |
| Current assets | 29/58 | €397,260 | €441,070 | +€43,810 | +11.0% |
| Amounts receivable after more than one year | 29 | €64,534 | €24,415 | -€40,120 | -62.2% |
| Other amounts receivable | 291 | €64,534 | €24,415 | -€40,120 | -62.2% |
| Amounts receivable within one year | 40/41 | €112,979 | €76,923 | -€36,056 | -31.9% |
| Trade receivables | 40 | €28,986 | €26,372 | -€2,614 | -9.0% |
| Other amounts receivable | 41 | €83,994 | €50,552 | -€33,442 | -39.8% |
| Current investments | 50/53 | €180,000 | €109,996 | -€70,004 | -38.9% |
| Cash at bank and in hand | 54/58 | €39,747 | €229,736 | +€189,989 | +478.0% |
| Total equity and liabilities | 10/49 | €707,983 | €727,860 | +€19,876 | +2.8% |
| Equity | 10/15 | €545,269 | €654,668 | +€109,399 | +20.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €539,069 | €648,468 | +€109,399 | +20.3% |
| Distributable reserves | 133 | €539,069 | €648,468 | +€109,399 | +20.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €162,714 | €73,192 | -€89,522 | -55.0% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €162,714 | €73,192 | -€89,522 | -55.0% |
| Current portion of amounts payable after more than one year | 42 | €14,667 | €0 | -€14,667 | -100.0% |
| Financial debts | 43 | €9,891 | €1,441 | -€8,450 | -85.4% |
| Credit institutions | 430/8 | €9,891 | €1,441 | -€8,450 | -85.4% |
| Trade debts | 44 | €15,106 | €10,718 | -€4,388 | -29.0% |
| Suppliers | 440/4 | €15,106 | €10,718 | -€4,388 | -29.0% |
| Taxes, remuneration and social security | 45 | €12,391 | €45,082 | +€32,692 | +263.8% |
| Taxes | 450/3 | €12,391 | €45,082 | +€32,692 | +263.8% |
| Other amounts payable | 47/48 | €110,660 | €15,951 | -€94,709 | -85.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,474 | €29,131 | -€1,343 | -4.4% |
| Other operating charges | 640/8 | €4,445 | €5,011 | +€566 | +12.7% |
| Gross operating margin | 9900 | €132,681 | €187,644 | +€54,963 | +41.4% |
| Operating profit (loss) | 9901 | €97,761 | €153,501 | +€55,740 | +57.0% |
| Financial income | 75/76B | €2,135 | €2,108 | -€27 | -1.3% |
| Recurring financial income | 75 | €2,135 | €2,108 | -€27 | -1.3% |
| Financial charges | 65/66B | €2,165 | €957 | -€1,207 | -55.8% |
| Recurring financial charges | 65 | €2,165 | €957 | -€1,207 | -55.8% |
| Profit (loss) for the period before taxes | 9903 | €97,731 | €154,652 | +€56,920 | +58.2% |
| Income taxes | 67/77 | €26,871 | €45,253 | +€18,382 | +68.4% |
| Profit (loss) for the period | 9904 | €70,860 | €109,399 | +€38,539 | +54.4% |
| Profit (loss) for the period to be appropriated | 9905 | €70,860 | €109,399 | +€38,539 | +54.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.