VANDENBROUCK: 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.
VANDENBROUCK
Largest movements
- Cash -€50,662
down €50,662 (-82.4%), from €61,510 to €10,848
mainly Receivables within one year (-€44,607) and Net result for the year (-€26,053)
- Receivables within one year +€44,607
up €44,607 (+36.6%), from €121,958 to €166,565
of which Trade receivables: +€43,257
- Tangible fixed assets -€19,896
down €19,896 (-9.6%), from €207,359 to €187,463
of which Furniture and vehicles: -€13,914
- Profit (loss) carried forward -€26,053
down €26,053 (-25.5%), from -€102,286 to -€128,339
- Trade debts +€14,484
up €14,484 (+8.3%), from €175,318 to €189,802
- Tax, wage and social debts -€9,262
down €9,262 (-28.5%), from €32,534 to €23,272
of which Taxes: -€7,641
- Debts after one year -€5,317
down €5,317 (-10.5%), from €50,495 to €45,178
- Gross operating margin -€29,298
down €29,298 (-35.9%), from €81,645 to €52,347
- Staff costs +€27,077
up €27,077 (+100%), from €27,012 to €54,089
- Taxes -€8,788
no longer reported in 2025 (was €8,788)
- Other operating charges -€4,134
down €4,134 (-67.3%), from €6,145 to €2,011
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 | €393,622 | €367,671 | -€25,951 | -6.6% |
| Fixed assets | 21/28 | €210,154 | €190,258 | -€19,896 | -9.5% |
| Tangible fixed assets | 22/27 | €207,359 | €187,463 | -€19,896 | -9.6% |
| Land and buildings | 22 | €165,086 | €159,104 | -€5,982 | -3.6% |
| Furniture and vehicles | 24 | €42,273 | €28,359 | -€13,914 | -32.9% |
| Financial fixed assets | 28 | €2,795 | €2,795 | = | 0.0% |
| Current assets | 29/58 | €183,468 | €177,413 | -€6,055 | -3.3% |
| Amounts receivable within one year | 40/41 | €121,958 | €166,565 | +€44,607 | +36.6% |
| Trade receivables | 40 | €1,312 | €44,569 | +€43,257 | +3,297% |
| Other amounts receivable | 41 | €120,646 | €121,996 | +€1,350 | +1.1% |
| Cash at bank and in hand | 54/58 | €61,510 | €10,848 | -€50,662 | -82.4% |
| Total equity and liabilities | 10/49 | €393,622 | €367,671 | -€25,951 | -6.6% |
| Equity | 10/15 | -€40,286 | -€66,339 | -€26,053 | -64.7% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€102,286 | -€128,339 | -€26,053 | -25.5% |
| Amounts payable | 17/49 | €433,908 | €434,010 | +€102 | 0.0% |
| Amounts payable after more than one year | 17 | €50,495 | €45,178 | -€5,317 | -10.5% |
| Financial debts | 170/4 | €50,495 | €45,178 | -€5,317 | -10.5% |
| Amounts payable within one year | 42/48 | €383,413 | €388,832 | +€5,419 | +1.4% |
| Current portion of amounts payable after more than one year | 42 | €5,119 | €5,316 | +€197 | +3.8% |
| Trade debts | 44 | €175,318 | €189,802 | +€14,484 | +8.3% |
| Suppliers | 440/4 | €175,318 | €189,802 | +€14,484 | +8.3% |
| Taxes, remuneration and social security | 45 | €32,534 | €23,272 | -€9,262 | -28.5% |
| Taxes | 450/3 | €22,451 | €14,810 | -€7,641 | -34.0% |
| Remuneration and social security | 454/9 | €10,083 | €8,462 | -€1,621 | -16.1% |
| Other amounts payable | 47/48 | €170,442 | €170,442 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €27,012 | €54,089 | +€27,077 | +100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,560 | €19,896 | +€336 | +1.7% |
| Other operating charges | 640/8 | €6,145 | €2,011 | -€4,134 | -67.3% |
| Gross operating margin | 9900 | €81,645 | €52,347 | -€29,298 | -35.9% |
| Operating profit (loss) | 9901 | €28,928 | -€23,649 | -€52,577 | |
| Financial charges | 65/66B | €2,481 | €2,404 | -€77 | -3.1% |
| Recurring financial charges | 65 | €2,481 | €2,404 | -€77 | -3.1% |
| Profit (loss) for the period before taxes | 9903 | €26,447 | -€26,053 | -€52,500 | |
| Income taxes | 67/77 | €8,788 | - | -€8,788 | |
| Profit (loss) for the period | 9904 | €17,659 | -€26,053 | -€43,712 | |
| Profit (loss) for the period to be appropriated | 9905 | €17,659 | -€26,053 | -€43,712 |
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 20 October 2026 via checked.be.