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
- Receivables within one year +€165,124
up €165,124 (+16.8%), from €983,677 to €1.1m
of which Trade receivables: +€92,842
- Reserves +€90,796
up €90,796 (+14.7%), from €619,767 to €710,563
of which Distributable reserves: +€90,796
- Other debts +€81,277
up €81,277 (+28.3%), from €287,469 to €368,745
- Debts after one year -€35,328
down €35,328 (-7.8%), from €451,832 to €416,504
- Accrued charges and deferred income +€34,455
up €34,455 (+1,186%), from €2,906 to €37,361
- Gross operating margin +€113,439
up €113,439 (+223%), from €50,778 to €164,217
- Financial charges +€30,398
up €30,398 (+196%), from €15,548 to €45,946
- Depreciation +€6,641
up €6,641 (+14.6%), from €45,406 to €52,048
- Taxes -€6,103
down €6,103 (-40.2%), from €15,183 to €9,080
- Financial income +€2,465
up €2,465 (+6.9%), from €35,504 to €37,969
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 | €1,955,039 | €2,139,718 | +€184,680 | +9.4% |
| Fixed assets | 21/28 | €952,811 | €971,636 | +€18,825 | +2.0% |
| Tangible fixed assets | 22/27 | €736,811 | €755,636 | +€18,825 | +2.6% |
| Land and buildings | 22 | €736,811 | €755,636 | +€18,825 | +2.6% |
| Financial fixed assets | 28 | €216,000 | €216,000 | = | 0.0% |
| Current assets | 29/58 | €1,002,228 | €1,168,082 | +€165,855 | +16.5% |
| Amounts receivable within one year | 40/41 | €983,677 | €1,148,801 | +€165,124 | +16.8% |
| Trade receivables | 40 | €57,158 | €150,000 | +€92,842 | +162% |
| Other amounts receivable | 41 | €926,519 | €998,801 | +€72,282 | +7.8% |
| Cash at bank and in hand | 54/58 | €26 | €632 | +€606 | +2,343% |
| Deferred charges and accrued income | 490/1 | €18,525 | €18,650 | +€125 | +0.7% |
| Total equity and liabilities | 10/49 | €1,955,039 | €2,139,718 | +€184,680 | +9.4% |
| Equity | 10/15 | €1,169,767 | €1,260,563 | +€90,796 | +7.8% |
| Contributions | 10/11 | €550,000 | €550,000 | = | 0.0% |
| Capital | 10 | €550,000 | €550,000 | = | 0.0% |
| Issued capital | 100 | €550,000 | €550,000 | = | 0.0% |
| Reserves | 13 | €619,767 | €710,563 | +€90,796 | +14.7% |
| Non-distributable reserves | 130/1 | €55,000 | €55,000 | = | 0.0% |
| Legal reserve | 130 | €55,000 | €55,000 | = | 0.0% |
| Distributable reserves | 133 | €564,767 | €655,563 | +€90,796 | +16.1% |
| Amounts payable | 17/49 | €785,271 | €879,155 | +€93,884 | +12.0% |
| Amounts payable after more than one year | 17 | €451,832 | €416,504 | -€35,328 | -7.8% |
| Financial debts | 170/4 | €451,832 | €416,504 | -€35,328 | -7.8% |
| Amounts payable within one year | 42/48 | €330,533 | €425,290 | +€94,756 | +28.7% |
| Current portion of amounts payable after more than one year | 42 | €23,328 | €25,272 | +€1,944 | +8.3% |
| Financial debts | 43 | €609 | €0 | -€609 | -100% |
| Credit institutions | 430/8 | €609 | €0 | -€609 | -100% |
| Trade debts | 44 | €19,128 | €21,451 | +€2,323 | +12.1% |
| Suppliers | 440/4 | €19,128 | €21,451 | +€2,323 | +12.1% |
| Taxes, remuneration and social security | 45 | - | €9,822 | +€9,822 | |
| Taxes | 450/3 | - | €9,822 | +€9,822 | |
| Other amounts payable | 47/48 | €287,469 | €368,745 | +€81,277 | +28.3% |
| Accrued charges and deferred income | 492/3 | €2,906 | €37,361 | +€34,455 | +1,186% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,406 | €52,048 | +€6,641 | +14.6% |
| Other operating charges | 640/8 | €5,079 | €4,316 | -€762 | -15.0% |
| Gross operating margin | 9900 | €50,778 | €164,217 | +€113,439 | +223% |
| Operating profit (loss) | 9901 | €293 | €107,853 | +€107,560 | +36,715% |
| Financial income | 75/76B | €35,504 | €37,969 | +€2,465 | +6.9% |
| Recurring financial income | 75 | €35,504 | €37,969 | +€2,465 | +6.9% |
| Financial charges | 65/66B | €15,548 | €45,946 | +€30,398 | +196% |
| Recurring financial charges | 65 | €15,548 | €45,946 | +€30,398 | +196% |
| Profit (loss) for the period before taxes | 9903 | €20,249 | €99,876 | +€79,627 | +393% |
| Income taxes | 67/77 | €15,183 | €9,080 | -€6,103 | -40.2% |
| Profit (loss) for the period | 9904 | €5,066 | €90,796 | +€85,730 | +1,692% |
| Profit (loss) for the period to be appropriated | 9905 | €5,066 | €90,796 | +€85,730 | +1,692% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.