VANDENBROUCKE-DECORTE: 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-DECORTE
Largest movements
- Tangible fixed assets +€292,913
up €292,913 (+402%), from €72,943 to €365,855
of which Land and buildings: +€306,675
- Receivables within one year -€260,651
down €260,651 (-59.4%), from €438,521 to €177,870
of which Other amounts receivable: -€296,701
- Cash -€40,043
down €40,043 (-72.5%), from €55,233 to €15,190
mainly Investment in fixed assets (net) (-€310,970) and Contributions, distributions and other (-€110,233)
- Reserves -€110,233
down €110,233 (-26.1%), from €422,245 to €312,012
- Other debts +€55,486
up €55,486 (+37.3%), from €148,855 to €204,340
- Profit (loss) carried forward +€27,443
up €27,443 (+29.6%), from -€92,695 to -€65,252
- Trade debts +€13,758
up €13,758 (+280%), from €4,908 to €18,666
- Gross operating margin +€31,100
up €31,100 (+287%), from €10,848 to €41,948
- Financial income -€19,536
down €19,536 (-51.4%), from €38,036 to €18,500
- Financial charges +€5,372
up €5,372 (+65.9%), from €8,157 to €13,530
- Depreciation +€1,348
up €1,348 (+8.1%), from €16,710 to €18,058
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 | €568,082 | €559,733 | -€8,349 | -1.5% |
| Fixed assets | 21/28 | €73,269 | €366,182 | +€292,913 | +400% |
| Tangible fixed assets | 22/27 | €72,943 | €365,855 | +€292,913 | +402% |
| Land and buildings | 22 | €38,651 | €345,327 | +€306,675 | +793% |
| Plant, machinery and equipment | 23 | €28,430 | €16,767 | -€11,663 | -41.0% |
| Furniture and vehicles | 24 | €5,861 | €3,761 | -€2,100 | -35.8% |
| Financial fixed assets | 28 | €326 | €326 | = | 0.0% |
| Current assets | 29/58 | €494,813 | €193,552 | -€301,261 | -60.9% |
| Amounts receivable within one year | 40/41 | €438,521 | €177,870 | -€260,651 | -59.4% |
| Trade receivables | 40 | €1,600 | €37,650 | +€36,050 | +2,253% |
| Other amounts receivable | 41 | €436,921 | €140,220 | -€296,701 | -67.9% |
| Cash at bank and in hand | 54/58 | €55,233 | €15,190 | -€40,043 | -72.5% |
| Deferred charges and accrued income | 490/1 | €1,058 | €491 | -€567 | -53.6% |
| Total equity and liabilities | 10/49 | €568,082 | €559,733 | -€8,349 | -1.5% |
| Equity | 10/15 | €348,149 | €265,360 | -€82,789 | -23.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €422,245 | €312,012 | -€110,233 | -26.1% |
| Distributable reserves | 133 | €422,245 | €312,012 | -€110,233 | -26.1% |
| Profit (loss) carried forward | 14 | -€92,695 | -€65,252 | +€27,443 | +29.6% |
| Amounts payable | 17/49 | €219,933 | €294,374 | +€74,441 | +33.8% |
| Amounts payable after more than one year | 17 | €48,333 | €43,333 | -€5,000 | -10.3% |
| Financial debts | 170/4 | €48,333 | €43,333 | -€5,000 | -10.3% |
| Amounts payable within one year | 42/48 | €160,972 | €235,819 | +€74,847 | +46.5% |
| Current portion of amounts payable after more than one year | 42 | €5,000 | €5,000 | = | 0.0% |
| Trade debts | 44 | €4,908 | €18,666 | +€13,758 | +280% |
| Suppliers | 440/4 | €4,908 | €18,666 | +€13,758 | +280% |
| Taxes, remuneration and social security | 45 | €2,210 | €7,813 | +€5,603 | +254% |
| Taxes | 450/3 | €0 | €5,603 | +€5,603 | |
| Remuneration and social security | 454/9 | €2,210 | €2,210 | = | 0.0% |
| Other amounts payable | 47/48 | €148,855 | €204,340 | +€55,486 | +37.3% |
| Accrued charges and deferred income | 492/3 | €10,628 | €15,221 | +€4,594 | +43.2% |
| Non-recurring operating income | 76A | €2,124 | €0 | -€2,124 | -100% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,710 | €18,058 | +€1,348 | +8.1% |
| Other operating charges | 640/8 | €1,658 | €1,417 | -€241 | -14.5% |
| Non-recurring operating charges | 66A | €66,875 | €0 | -€66,875 | -100% |
| Gross operating margin | 9900 | €10,848 | €41,948 | +€31,100 | +287% |
| Operating profit (loss) | 9901 | -€74,395 | €22,473 | +€96,868 | |
| Financial income | 75/76B | €38,036 | €18,500 | -€19,536 | -51.4% |
| Recurring financial income | 75 | €38,036 | €18,500 | -€19,536 | -51.4% |
| Financial charges | 65/66B | €8,157 | €13,530 | +€5,372 | +65.9% |
| Recurring financial charges | 65 | €8,157 | €13,530 | +€5,372 | +65.9% |
| Profit (loss) for the period before taxes | 9903 | -€44,516 | €27,443 | +€71,960 | |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€44,516 | €27,443 | +€71,960 | |
| Profit (loss) for the period to be appropriated | 9905 | -€44,516 | €27,443 | +€71,960 |
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 23 October 2026 via checked.be.