Vandenbroucke Pascal: 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 Pascal
Largest movements
- Tangible fixed assets -€30,381
down €30,381 (-6.5%), from €467,821 to €437,441
of which Land and buildings: -€22,719
- Stocks and contracts -€16,908
down €16,908 (-21.4%), from €79,054 to €62,146
- Receivables within one year -€9,231
down €9,231 (-3.6%), from €256,361 to €247,130
of which Other amounts receivable: -€5,363
- Cash +€8,664
up €8,664 (+110%), from €7,871 to €16,535
mainly Trade debts (+€128,968) and Depreciation (+€44,341)
- Trade debts +€128,968
up €128,968 (+19.5%), from €662,833 to €791,801
- Profit (loss) carried forward -€90,629
down €90,629 (-17.7%), from -€511,156 to -€601,785
- Debts after one year -€51,631
down €51,631 (-13.5%), from €381,796 to €330,164
- Tax, wage and social debts -€36,582
down €36,582 (-37.5%), from €97,619 to €61,037
of which Taxes: -€24,751
- Gross operating margin -€61,676
down €61,676 (-25.6%), from €240,795 to €179,119
- Staff costs -€10,722
down €10,722 (-5.7%), from €188,499 to €177,777
- Write-downs +€4,159
up €4,159, from -€2,323 to €1,836
- Financial charges -€3,370
down €3,370 (-12.7%), from €26,619 to €23,248
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 | €815,906 | €767,391 | -€48,515 | -5.9% |
| Fixed assets | 21/28 | €469,050 | €438,208 | -€30,841 | -6.6% |
| Intangible fixed assets | 21 | €1,229 | €768 | -€461 | -37.5% |
| Tangible fixed assets | 22/27 | €467,821 | €437,441 | -€30,381 | -6.5% |
| Land and buildings | 22 | €409,750 | €387,031 | -€22,719 | -5.5% |
| Plant, machinery and equipment | 23 | €19,186 | €24,104 | +€4,919 | +25.6% |
| Furniture and vehicles | 24 | €4,225 | €2,665 | -€1,560 | -36.9% |
| Leasing and similar rights | 25 | €34,660 | €23,640 | -€11,020 | -31.8% |
| Current assets | 29/58 | €346,856 | €329,183 | -€17,673 | -5.1% |
| Stocks and contracts in progress | 3 | €79,054 | €62,146 | -€16,908 | -21.4% |
| Stocks | 30/36 | €79,054 | €62,146 | -€16,908 | -21.4% |
| Amounts receivable within one year | 40/41 | €256,361 | €247,130 | -€9,231 | -3.6% |
| Trade receivables | 40 | €158,306 | €154,437 | -€3,868 | -2.4% |
| Other amounts receivable | 41 | €98,056 | €92,693 | -€5,363 | -5.5% |
| Cash at bank and in hand | 54/58 | €7,871 | €16,535 | +€8,664 | +110% |
| Deferred charges and accrued income | 490/1 | €3,570 | €3,372 | -€198 | -5.5% |
| Total equity and liabilities | 10/49 | €815,906 | €767,391 | -€48,515 | -5.9% |
| Equity | 10/15 | -€452,456 | -€543,085 | -€90,629 | -20.0% |
| Contributions | 10/11 | €58,600 | €58,600 | = | 0.0% |
| Reserves | 13 | €100 | €100 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €100 | €100 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€511,156 | -€601,785 | -€90,629 | -17.7% |
| Amounts payable | 17/49 | €1,268,362 | €1,310,476 | +€42,115 | +3.3% |
| Amounts payable after more than one year | 17 | €381,796 | €330,164 | -€51,631 | -13.5% |
| Financial debts | 170/4 | €381,796 | €330,164 | -€51,631 | -13.5% |
| Amounts payable within one year | 42/48 | €884,918 | €979,469 | +€94,552 | +10.7% |
| Current portion of amounts payable after more than one year | 42 | €49,129 | €51,631 | +€2,502 | +5.1% |
| Financial debts | 43 | €75,337 | €75,000 | -€337 | -0.4% |
| Credit institutions | 430/8 | €75,337 | €75,000 | -€337 | -0.4% |
| Trade debts | 44 | €662,833 | €791,801 | +€128,968 | +19.5% |
| Suppliers | 440/4 | €662,833 | €791,801 | +€128,968 | +19.5% |
| Taxes, remuneration and social security | 45 | €97,619 | €61,037 | -€36,582 | -37.5% |
| Taxes | 450/3 | €44,289 | €19,538 | -€24,751 | -55.9% |
| Remuneration and social security | 454/9 | €53,330 | €41,499 | -€11,831 | -22.2% |
| Accrued charges and deferred income | 492/3 | €1,648 | €843 | -€806 | -48.9% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €188,499 | €177,777 | -€10,722 | -5.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,547 | €44,341 | -€2,206 | -4.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€2,323 | €1,836 | +€4,159 | |
| Other operating charges | 640/8 | €13,235 | €11,599 | -€1,636 | -12.4% |
| Non-recurring operating charges | 66A | €29,674 | €17,063 | -€12,612 | -42.5% |
| Gross operating margin | 9900 | €240,795 | €179,119 | -€61,676 | -25.6% |
| Operating profit (loss) | 9901 | -€34,837 | -€73,497 | -€38,660 | -111% |
| Financial income | 75/76B | €5,545 | €6,116 | +€570 | +10.3% |
| Recurring financial income | 75 | €5,545 | €6,116 | +€570 | +10.3% |
| Financial charges | 65/66B | €26,619 | €23,248 | -€3,370 | -12.7% |
| Recurring financial charges | 65 | €26,619 | €23,248 | -€3,370 | -12.7% |
| Profit (loss) for the period before taxes | 9903 | -€55,910 | -€90,629 | -€34,719 | -62.1% |
| Income taxes | 67/77 | €64 | €0 | -€64 | -100% |
| Profit (loss) for the period | 9904 | -€55,974 | -€90,629 | -€34,656 | -61.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€55,974 | -€90,629 | -€34,656 | -61.9% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.