VANDENDRIESCH: 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.
VANDENDRIESCH
Largest movements
- Cash -€465,041
down €465,041 (-91.0%), from €511,233 to €46,192
mainly Other debts (-€553,507) and Net result for the year (-€219,344)
- Receivables within one year -€122,742
down €122,742 (-31.0%), from €395,463 to €272,720
- Tangible fixed assets -€122,457
down €122,457 (-7.2%), from €1.7m to €1.6m
of which Land and buildings: -€104,440
- Other debts -€553,507
down €553,507 (-52.7%), from €1.0m to €495,985
- Profit (loss) carried forward -€479,809
no longer reported in 2025 (was €479,809)
- Reserves +€259,032
up €259,032 (+44.3%), from €585,020 to €844,052
of which Distributable reserves: +€273,168
- Trade debts +€85,897
up €85,897 (+40.7%), from €211,108 to €297,005
- Gross operating margin -€390,203
down €390,203 (-66.3%), from €588,499 to €198,297
- Staff costs +€97,161
up €97,161 (+73.7%), from €131,827 to €228,989
- Financial charges -€42,414
down €42,414 (-87.2%), from €48,634 to €6,220
- Other operating charges +€32,416
up €32,416 (+147%), from €22,033 to €54,449
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 | €2,628,223 | €1,906,469 | -€721,754 | -27.5% |
| Fixed assets | 21/28 | €1,721,528 | €1,587,557 | -€133,971 | -7.8% |
| Intangible fixed assets | 21 | €11,514 | €0 | -€11,514 | -100% |
| Tangible fixed assets | 22/27 | €1,705,697 | €1,583,240 | -€122,457 | -7.2% |
| Land and buildings | 22 | €1,664,263 | €1,559,824 | -€104,440 | -6.3% |
| Plant, machinery and equipment | 23 | €33,959 | €19,830 | -€14,129 | -41.6% |
| Furniture and vehicles | 24 | €7,475 | €3,586 | -€3,889 | -52.0% |
| Financial fixed assets | 28 | €4,317 | €4,317 | = | 0.0% |
| Current assets | 29/58 | €906,696 | €318,912 | -€587,784 | -64.8% |
| Amounts receivable within one year | 40/41 | €395,463 | €272,720 | -€122,742 | -31.0% |
| Trade receivables | 40 | €395,463 | €272,720 | -€122,742 | -31.0% |
| Cash at bank and in hand | 54/58 | €511,233 | €46,192 | -€465,041 | -91.0% |
| Total equity and liabilities | 10/49 | €2,628,223 | €1,906,469 | -€721,754 | -27.5% |
| Equity | 10/15 | €1,129,953 | €909,176 | -€220,777 | -19.5% |
| Contributions | 10/11 | €65,123 | €65,123 | = | 0.0% |
| Capital | 10 | €65,123 | €65,123 | = | 0.0% |
| Issued capital | 100 | €65,123 | €65,123 | = | 0.0% |
| Reserves | 13 | €585,020 | €844,052 | +€259,032 | +44.3% |
| Non-distributable reserves | 130/1 | €8,059 | €8,059 | = | 0.0% |
| Legal reserve | 130 | - | €8,059 | +€8,059 | |
| Reserves not available under the articles | 1311 | €8,059 | - | -€8,059 | |
| Tax-exempt reserves | 132 | €376,773 | €362,636 | -€14,136 | -3.8% |
| Distributable reserves | 133 | €200,188 | €473,357 | +€273,168 | +136% |
| Profit (loss) carried forward | 14 | €479,809 | - | -€479,809 | |
| Provisions and deferred taxes | 16 | €98,202 | €95,401 | -€2,801 | -2.9% |
| Deferred taxes | 168 | €98,202 | €95,401 | -€2,801 | -2.9% |
| Amounts payable | 17/49 | €1,400,068 | €901,892 | -€498,176 | -35.6% |
| Amounts payable after more than one year | 17 | €126,324 | €103,025 | -€23,298 | -18.4% |
| Financial debts | 170/4 | €126,324 | €103,025 | -€23,298 | -18.4% |
| Amounts payable within one year | 42/48 | €1,273,745 | €798,867 | -€474,878 | -37.3% |
| Trade debts | 44 | €211,108 | €297,005 | +€85,897 | +40.7% |
| Suppliers | 440/4 | €211,108 | €297,005 | +€85,897 | +40.7% |
| Taxes, remuneration and social security | 45 | €13,144 | €5,876 | -€7,268 | -55.3% |
| Taxes | 450/3 | €13,144 | €5,876 | -€7,268 | -55.3% |
| Other amounts payable | 47/48 | €1,049,492 | €495,985 | -€553,507 | -52.7% |
| Non-recurring operating income | 76A | - | €3,500 | +€3,500 | |
| Remuneration, social security and pensions | 62 | €131,827 | €228,989 | +€97,161 | +73.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €132,246 | €135,547 | +€3,302 | +2.5% |
| Other operating charges | 640/8 | €22,033 | €54,449 | +€32,416 | +147% |
| Gross operating margin | 9900 | €588,499 | €198,297 | -€390,203 | -66.3% |
| Operating profit (loss) | 9901 | €302,393 | -€220,689 | -€523,082 | |
| Financial income | 75/76B | €16 | €3,331 | +€3,315 | +20,913% |
| Recurring financial income | 75 | €16 | €3,331 | +€3,315 | +20,913% |
| Financial charges | 65/66B | €48,634 | €6,220 | -€42,414 | -87.2% |
| Recurring financial charges | 65 | €48,634 | €6,220 | -€42,414 | -87.2% |
| Profit (loss) for the period before taxes | 9903 | €253,775 | -€223,578 | -€477,353 | |
| Transfer from deferred taxes | 780 | €8,904 | €4,234 | -€4,669 | -52.4% |
| Transfer to deferred taxes | 680 | €101,374 | - | -€101,374 | |
| Income taxes | 67/77 | €545 | - | -€545 | |
| Profit (loss) for the period | 9904 | €160,760 | -€219,344 | -€380,104 | |
| Transfer from tax-exempt reserves | 789 | €9,514 | €12,703 | +€3,189 | +33.5% |
| Transfer to tax-exempt reserves | 689 | €304,122 | - | -€304,122 | |
| Profit (loss) for the period to be appropriated | 9905 | -€133,847 | -€206,641 | -€72,793 | -54.4% |
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 17 October 2026 via checked.be.