VANDENBROUCKE R&M: 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 R&M
Largest movements
- Tangible fixed assets +€466,870
up €466,870 (+508%), from €91,947 to €558,817
of which Land and buildings: +€425,730
- Deferred charges and accrued income -€21,128
down €21,128 (-78.3%), from €26,977 to €5,849
- Cash +€11,239
up €11,239 (+83.3%), from €13,496 to €24,735
mainly Debts after one year (+€384,906) and Short-term financial debts (+€80,000)
- Stocks and contracts +€10,500
up €10,500, from €0 to €10,500
- Debts after one year +€384,906
up €384,906 (+828%), from €46,504 to €431,410
- Short-term financial debts +€80,000
up €80,000 (+533%), from €15,000 to €95,000
- Current portion of long-term debt +€26,088
up €26,088 (+134%), from €19,454 to €45,542
- Profit (loss) carried forward -€16,596
down €16,596 (-75.9%), from €21,856 to €5,260
- Trade debts +€12,888
up €12,888 (+58.3%), from €22,092 to €34,979
- Gross operating margin +€51,264
up €51,264 (+45.6%), from €112,406 to €163,670
- Depreciation +€24,912
up €24,912 (+132%), from €18,900 to €43,812
- Financial charges +€24,170
up €24,170 (+844%), from €2,865 to €27,035
- Other operating charges +€22,018
up €22,018 (+544%), from €4,049 to €26,067
- Taxes -€4,884
down €4,884 (-24.5%), from €19,944 to €15,060
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 | €173,467 | €643,120 | +€469,652 | +271% |
| Fixed assets | 21/28 | €94,707 | €558,817 | +€464,110 | +490% |
| Tangible fixed assets | 22/27 | €91,947 | €558,817 | +€466,870 | +508% |
| Land and buildings | 22 | €10,000 | €435,730 | +€425,730 | +4,257% |
| Plant, machinery and equipment | 23 | €22,842 | €14,512 | -€8,330 | -36.5% |
| Furniture and vehicles | 24 | €59,105 | €108,576 | +€49,470 | +83.7% |
| Financial fixed assets | 28 | €2,760 | €0 | -€2,760 | -100% |
| Current assets | 29/58 | €78,760 | €84,303 | +€5,542 | +7.0% |
| Stocks and contracts in progress | 3 | €0 | €10,500 | +€10,500 | |
| Contracts in progress | 37 | €0 | €10,500 | +€10,500 | |
| Amounts receivable within one year | 40/41 | €38,287 | €43,219 | +€4,932 | +12.9% |
| Trade receivables | 40 | €12,659 | €21,666 | +€9,007 | +71.2% |
| Other amounts receivable | 41 | €25,628 | €21,552 | -€4,076 | -15.9% |
| Cash at bank and in hand | 54/58 | €13,496 | €24,735 | +€11,239 | +83.3% |
| Deferred charges and accrued income | 490/1 | €26,977 | €5,849 | -€21,128 | -78.3% |
| Total equity and liabilities | 10/49 | €173,467 | €643,120 | +€469,652 | +271% |
| Equity | 10/15 | €28,056 | €11,460 | -€16,596 | -59.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €21,856 | €5,260 | -€16,596 | -75.9% |
| Amounts payable | 17/49 | €145,412 | €631,660 | +€486,248 | +334% |
| Amounts payable after more than one year | 17 | €46,504 | €431,410 | +€384,906 | +828% |
| Financial debts | 170/4 | €46,504 | €431,410 | +€384,906 | +828% |
| Amounts payable within one year | 42/48 | €97,908 | €199,181 | +€101,272 | +103% |
| Current portion of amounts payable after more than one year | 42 | €19,454 | €45,542 | +€26,088 | +134% |
| Financial debts | 43 | €15,000 | €95,000 | +€80,000 | +533% |
| Credit institutions | 430/8 | €15,000 | €95,000 | +€80,000 | +533% |
| Trade debts | 44 | €22,092 | €34,979 | +€12,888 | +58.3% |
| Suppliers | 440/4 | €22,092 | €34,979 | +€12,888 | +58.3% |
| Taxes, remuneration and social security | 45 | €32,837 | €20,392 | -€12,445 | -37.9% |
| Taxes | 450/3 | €32,374 | €19,317 | -€13,057 | -40.3% |
| Remuneration and social security | 454/9 | €463 | €1,075 | +€612 | +132% |
| Other amounts payable | 47/48 | €8,526 | €3,267 | -€5,259 | -61.7% |
| Accrued charges and deferred income | 492/3 | €999 | €1,069 | +€70 | +7.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,900 | €43,812 | +€24,912 | +132% |
| Other operating charges | 640/8 | €4,049 | €26,067 | +€22,018 | +544% |
| Gross operating margin | 9900 | €112,406 | €163,670 | +€51,264 | +45.6% |
| Operating profit (loss) | 9901 | €89,457 | €93,791 | +€4,333 | +4.8% |
| Financial income | 75/76B | €699 | €3,708 | +€3,009 | +431% |
| Recurring financial income | 75 | €699 | €3,708 | +€3,009 | +431% |
| Financial charges | 65/66B | €2,865 | €27,035 | +€24,170 | +844% |
| Recurring financial charges | 65 | €2,865 | €27,035 | +€24,170 | +844% |
| Profit (loss) for the period before taxes | 9903 | €87,292 | €70,464 | -€16,828 | -19.3% |
| Income taxes | 67/77 | €19,944 | €15,060 | -€4,884 | -24.5% |
| Profit (loss) for the period | 9904 | €67,348 | €55,404 | -€11,944 | -17.7% |
| Profit (loss) for the period to be appropriated | 9905 | €67,348 | €55,404 | -€11,944 | -17.7% |
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 31 October 2026 via checked.be.