VANDENBUSSCHE: 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.
VANDENBUSSCHE
Largest movements
- Cash +€28,462
up €28,462 (+29.8%), from €95,513 to €123,976
mainly Net result for the year (+€28,909) and Accrued charges and deferred income (+€12,634)
- Receivables within one year +€10,890
up €10,890 (+121%), from €9,019 to €19,910
of which Other amounts receivable: +€10,663
- Reserves +€28,909
up €28,909 (+51.8%), from €55,851 to €84,760
of which Distributable reserves: +€28,909
- Accrued charges and deferred income +€12,634
new in 2025: €12,634
- Gross operating margin +€20,503
up €20,503 (+95.2%), from €21,528 to €42,030
- Taxes +€7,622
up €7,622 (+127%), from €5,998 to €13,620
- Financial charges -€3,642
down €3,642 (-93.7%), from €3,888 to €246
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 | €218,243 | €257,395 | +€39,152 | +17.9% |
| Fixed assets | 21/28 | €63,287 | €63,086 | -€201 | -0.3% |
| Tangible fixed assets | 22/27 | €63,086 | €63,086 | = | 0.0% |
| Land and buildings | 22 | €63,086 | €63,086 | = | 0.0% |
| Financial fixed assets | 28 | €201 | €0 | -€201 | -100% |
| Current assets | 29/58 | €154,956 | €194,309 | +€39,353 | +25.4% |
| Amounts receivable within one year | 40/41 | €9,019 | €19,910 | +€10,890 | +121% |
| Trade receivables | 40 | - | €227 | +€227 | |
| Other amounts receivable | 41 | €9,019 | €19,683 | +€10,663 | +118% |
| Current investments | 50/53 | €50,423 | €50,423 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €95,513 | €123,976 | +€28,462 | +29.8% |
| Total equity and liabilities | 10/49 | €218,243 | €257,395 | +€39,152 | +17.9% |
| Equity | 10/15 | €155,851 | €184,760 | +€28,909 | +18.5% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €55,851 | €84,760 | +€28,909 | +51.8% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €45,851 | €74,760 | +€28,909 | +63.0% |
| Amounts payable | 17/49 | €62,393 | €72,636 | +€10,243 | +16.4% |
| Amounts payable after more than one year | 17 | €6,000 | €6,000 | = | 0.0% |
| Other amounts payable | 178/9 | €6,000 | €6,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €56,393 | €54,002 | -€2,391 | -4.2% |
| Trade debts | 44 | €16 | €75 | +€58 | +357% |
| Suppliers | 440/4 | €16 | €75 | +€58 | +357% |
| Taxes, remuneration and social security | 45 | €6,914 | €4,465 | -€2,449 | -35.4% |
| Taxes | 450/3 | €6,914 | €4,465 | -€2,449 | -35.4% |
| Other amounts payable | 47/48 | €49,462 | €49,462 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €12,634 | +€12,634 | |
| Remuneration, social security and pensions | 62 | €387 | €0 | -€387 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €273 | €282 | +€8 | +3.0% |
| Gross operating margin | 9900 | €21,528 | €42,030 | +€20,503 | +95.2% |
| Operating profit (loss) | 9901 | €20,867 | €41,748 | +€20,882 | +100% |
| Financial income | 75/76B | €790 | €1,026 | +€236 | +29.9% |
| Recurring financial income | 75 | €790 | €1,026 | +€236 | +29.9% |
| Financial charges | 65/66B | €3,888 | €246 | -€3,642 | -93.7% |
| Recurring financial charges | 65 | €3,888 | €246 | -€3,642 | -93.7% |
| Profit (loss) for the period before taxes | 9903 | €17,768 | €42,529 | +€24,760 | +139% |
| Income taxes | 67/77 | €5,998 | €13,620 | +€7,622 | +127% |
| Profit (loss) for the period | 9904 | €11,771 | €28,909 | +€17,138 | +146% |
| Profit (loss) for the period to be appropriated | 9905 | €11,771 | €28,909 | +€17,138 | +146% |
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.