Vandenhole Construct: what changed
Two fiscal 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.
Vandenhole Construct
Largest movements
- Receivables within one year +€19,535
up €19,535 (+22.3%), from €87,445 to €106,980
of which Other amounts receivable: +€19,141
- Cash +€5,757
up €5,757 (+48.1%), from €11,979 to €17,737
mainly Other debts (+€90,000) and Net result for the year (+€51,665)
- Other debts +€90,000
up €90,000, from €0 to €90,000
- Reserves -€38,335
down €38,335 (-89.0%), from €43,079 to €4,744
- Trade debts -€25,692
down €25,692 (-85.5%), from €30,045 to €4,353
- Gross operating margin +€65,251
up €65,251 (+1537.3%), from €4,245 to €69,495
- Taxes +€13,707
up €13,707 (+1890.7%), from €725 to €14,432
- Other operating charges +€1,512
up €1,512 (+145.2%), from €1,041 to €2,553
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.
Cash bridge derived
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 | €99,985 | €124,717 | +€24,732 | +24.7% |
| Fixed assets | 21/28 | €25 | €0 | -€25 | -100.0% |
| Tangible fixed assets | 22/27 | €25 | €0 | -€25 | -100.0% |
| Furniture and vehicles | 24 | €25 | €0 | -€25 | -100.0% |
| Current assets | 29/58 | €99,960 | €124,717 | +€24,757 | +24.8% |
| Amounts receivable within one year | 40/41 | €87,445 | €106,980 | +€19,535 | +22.3% |
| Trade receivables | 40 | €24,100 | €24,494 | +€394 | +1.6% |
| Other amounts receivable | 41 | €63,345 | €82,486 | +€19,141 | +30.2% |
| Cash at bank and in hand | 54/58 | €11,979 | €17,737 | +€5,757 | +48.1% |
| Deferred charges and accrued income | 490/1 | €535 | €0 | -€535 | -100.0% |
| Total equity and liabilities | 10/49 | €99,985 | €124,717 | +€24,732 | +24.7% |
| Equity | 10/15 | €46,079 | €7,744 | -€38,335 | -83.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €43,079 | €4,744 | -€38,335 | -89.0% |
| Distributable reserves | 133 | €43,079 | €4,744 | -€38,335 | -89.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €53,906 | €116,973 | +€63,067 | +117.0% |
| Amounts payable within one year | 42/48 | €53,906 | €116,973 | +€63,067 | +117.0% |
| Trade debts | 44 | €30,045 | €4,353 | -€25,692 | -85.5% |
| Suppliers | 440/4 | €30,045 | €4,353 | -€25,692 | -85.5% |
| Taxes, remuneration and social security | 45 | €23,861 | €22,620 | -€1,241 | -5.2% |
| Taxes | 450/3 | €22,261 | €20,420 | -€1,841 | -8.3% |
| Remuneration and social security | 454/9 | €1,600 | €2,200 | +€600 | +37.5% |
| Other amounts payable | 47/48 | €0 | €90,000 | +€90,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €68 | €25 | -€44 | -63.6% |
| Other operating charges | 640/8 | €1,041 | €2,553 | +€1,512 | +145.2% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €4,245 | €69,495 | +€65,251 | +1537.3% |
| Operating profit (loss) | 9901 | €3,135 | €66,917 | +€63,782 | +2034.5% |
| Financial income | 75/76B | €28 | €10 | -€18 | -64.0% |
| Recurring financial income | 75 | €28 | €10 | -€18 | -64.0% |
| Financial charges | 65/66B | €137 | €831 | +€693 | +505.1% |
| Recurring financial charges | 65 | €137 | €831 | +€693 | +505.1% |
| Profit (loss) for the period before taxes | 9903 | €3,026 | €66,097 | +€63,071 | +2084.6% |
| Income taxes | 67/77 | €725 | €14,432 | +€13,707 | +1890.7% |
| Profit (loss) for the period | 9904 | €2,301 | €51,665 | +€49,364 | +2145.8% |
| Profit (loss) for the period to be appropriated | 9905 | €2,301 | €51,665 | +€49,364 | +2145.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.