Vandenbroucke: 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.
Vandenbroucke
Largest movements
- Current investments -€29,718
down €29,718 (-37.2%), from €79,912 to €50,194
- Tangible fixed assets -€17,746
down €17,746 (-2.7%), from €650,406 to €632,660
of which Land and buildings: -€9,939
- Profit (loss) carried forward -€27,959
down €27,959 (-20.1%), from -€138,954 to -€166,913
- Other debts -€12,004
down €12,004 (-3.5%), from €342,672 to €330,667
- Financial charges +€14,088
up €14,088, from -€192 to €13,896
- Gross operating margin -€6,191
down €6,191 (-49.7%), from €12,452 to €6,262
- Financial income -€342
down €342 (-45.9%), from €744 to €402
- Depreciation +€317
up €317 (+1.3%), from €24,143 to €24,460
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 | €808,967 | €764,659 | -€44,308 | -5.5% |
| Fixed assets | 21/28 | €650,532 | €632,787 | -€17,746 | -2.7% |
| Tangible fixed assets | 22/27 | €650,406 | €632,660 | -€17,746 | -2.7% |
| Land and buildings | 22 | €562,299 | €552,359 | -€9,939 | -1.8% |
| Plant, machinery and equipment | 23 | €88,107 | €80,301 | -€7,806 | -8.9% |
| Financial fixed assets | 28 | €126 | €126 | = | 0.0% |
| Current assets | 29/58 | €158,435 | €131,872 | -€26,563 | -16.8% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | - | = | |
| Current investments | 50/53 | €79,912 | €50,194 | -€29,718 | -37.2% |
| Cash at bank and in hand | 54/58 | €78,523 | €81,678 | +€3,156 | +4.0% |
| Deferred charges and accrued income | 490/1 | - | €0 | = | |
| Total equity and liabilities | 10/49 | €808,967 | €764,659 | -€44,308 | -5.5% |
| Equity | 10/15 | €307,168 | €273,625 | -€33,542 | -10.9% |
| Contributions | 10/11 | €347,051 | €347,051 | = | 0.0% |
| Capital | 10 | €347,051 | €347,051 | = | 0.0% |
| Issued capital | 100 | €347,051 | €347,051 | = | 0.0% |
| Reserves | 13 | €99,071 | €93,488 | -€5,584 | -5.6% |
| Non-distributable reserves | 130/1 | €34,705 | €34,705 | = | 0.0% |
| Legal reserve | 130 | €34,705 | €34,705 | = | 0.0% |
| Tax-exempt reserves | 132 | €64,366 | €58,782 | -€5,584 | -8.7% |
| Profit (loss) carried forward | 14 | -€138,954 | -€166,913 | -€27,959 | -20.1% |
| Provisions and deferred taxes | 16 | €33,144 | €30,268 | -€2,875 | -8.7% |
| Deferred taxes | 168 | €33,144 | €30,268 | -€2,875 | -8.7% |
| Amounts payable | 17/49 | €468,656 | €460,765 | -€7,891 | -1.7% |
| Amounts payable after more than one year | 17 | €121,444 | €121,444 | = | 0.0% |
| Other amounts payable | 178/9 | €121,444 | €121,444 | = | 0.0% |
| Amounts payable within one year | 42/48 | €347,212 | €339,321 | -€7,891 | -2.3% |
| Trade debts | 44 | €2,740 | €2,619 | -€122 | -4.4% |
| Suppliers | 440/4 | €2,740 | €2,619 | -€122 | -4.4% |
| Taxes, remuneration and social security | 45 | €1,800 | €6,036 | +€4,236 | +235% |
| Taxes | 450/3 | €0 | €4,236 | +€4,236 | |
| Remuneration and social security | 454/9 | €1,800 | €1,800 | = | 0.0% |
| Other amounts payable | 47/48 | €342,672 | €330,667 | -€12,004 | -3.5% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,143 | €24,460 | +€317 | +1.3% |
| Other operating charges | 640/8 | €4,512 | €4,526 | +€15 | +0.3% |
| Gross operating margin | 9900 | €12,452 | €6,262 | -€6,191 | -49.7% |
| Operating profit (loss) | 9901 | -€16,202 | -€22,725 | -€6,523 | -40.3% |
| Financial income | 75/76B | €744 | €402 | -€342 | -45.9% |
| Recurring financial income | 75 | €744 | €402 | -€342 | -45.9% |
| Financial charges | 65/66B | -€192 | €13,896 | +€14,088 | |
| Recurring financial charges | 65 | -€192 | €13,896 | +€14,088 | |
| Profit (loss) for the period before taxes | 9903 | -€15,266 | -€36,218 | -€20,952 | -137% |
| Transfer from deferred taxes | 780 | €2,875 | €2,875 | = | 0.0% |
| Income taxes | 67/77 | €223 | €200 | -€24 | -10.6% |
| Profit (loss) for the period | 9904 | -€12,614 | -€33,542 | -€20,928 | -166% |
| Transfer from tax-exempt reserves | 789 | €5,584 | €5,584 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,031 | -€27,959 | -€20,928 | -298% |
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 25 October 2026 via checked.be.