Vandeplassche: 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.
Vandeplassche
Largest movements
- Current investments +€123,087
up €123,087 (+11.7%), from €1.1m to €1.2m
- Receivables within one year -€74,006
down €74,006 (-86.9%), from €85,205 to €11,198
of which Other amounts receivable: -€82,506
- Reserves +€63,249
up €63,249 (+5.8%), from €1.1m to €1.2m
of which Distributable reserves: +€63,249
- Tax, wage and social debts -€15,951
down €15,951 (-67.3%), from €23,685 to €7,734
of which Taxes: -€17,047
- Financial income -€144,858
down €144,858 (-70.6%), from €205,217 to €60,358
of which Non-recurring financial income: -€179,656
- Gross operating margin -€54,374
down €54,374 (-47.5%), from €114,584 to €60,210
- Taxes -€28,916
down €28,916 (-54.9%), from €52,632 to €23,715
- Financial charges +€8,801
up €8,801 (+40.1%), from €21,967 to €30,768
- Depreciation -€7,357
down €7,357 (-97.6%), from €7,540 to €183
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 | €1,191,624 | €1,248,124 | +€56,500 | +4.7% |
| Fixed assets | 21/28 | €4,129 | €323 | -€3,806 | -92.2% |
| Tangible fixed assets | 22/27 | €3,806 | €0 | -€3,806 | -100% |
| Furniture and vehicles | 24 | €3,806 | €0 | -€3,806 | -100% |
| Financial fixed assets | 28 | €323 | €323 | = | 0.0% |
| Current assets | 29/58 | €1,187,495 | €1,247,801 | +€60,306 | +5.1% |
| Amounts receivable within one year | 40/41 | €85,205 | €11,198 | -€74,006 | -86.9% |
| Trade receivables | 40 | - | €8,500 | +€8,500 | |
| Other amounts receivable | 41 | €85,205 | €2,698 | -€82,506 | -96.8% |
| Current investments | 50/53 | €1,052,456 | €1,175,543 | +€123,087 | +11.7% |
| Cash at bank and in hand | 54/58 | €34,670 | €35,380 | +€710 | +2.0% |
| Deferred charges and accrued income | 490/1 | €15,164 | €25,679 | +€10,515 | +69.3% |
| Total equity and liabilities | 10/49 | €1,191,624 | €1,248,124 | +€56,500 | +4.7% |
| Equity | 10/15 | €1,155,413 | €1,218,662 | +€63,249 | +5.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €1,093,413 | €1,156,662 | +€63,249 | +5.8% |
| Non-distributable reserves | 130/1 | €28,580 | €28,580 | = | 0.0% |
| Legal reserve | 130 | €28,580 | €28,580 | = | 0.0% |
| Tax-exempt reserves | 132 | €326 | €326 | = | 0.0% |
| Distributable reserves | 133 | €1,064,507 | €1,127,756 | +€63,249 | +5.9% |
| Amounts payable | 17/49 | €36,211 | €29,462 | -€6,750 | -18.6% |
| Amounts payable within one year | 42/48 | €31,986 | €25,635 | -€6,351 | -19.9% |
| Trade debts | 44 | €0 | - | = | |
| Suppliers | 440/4 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €23,685 | €7,734 | -€15,951 | -67.3% |
| Taxes | 450/3 | €23,653 | €6,606 | -€17,047 | -72.1% |
| Remuneration and social security | 454/9 | €32 | €1,128 | +€1,096 | +3,425% |
| Other amounts payable | 47/48 | €8,300 | €17,900 | +€9,600 | +116% |
| Accrued charges and deferred income | 492/3 | €4,225 | €3,827 | -€398 | -9.4% |
| Non-recurring operating income | 76A | - | €14,877 | +€14,877 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,540 | €183 | -€7,357 | -97.6% |
| Other operating charges | 640/8 | €2,342 | €2,653 | +€311 | +13.3% |
| Non-recurring operating charges | 66A | €554 | €0 | -€554 | -100% |
| Gross operating margin | 9900 | €114,584 | €60,210 | -€54,374 | -47.5% |
| Operating profit (loss) | 9901 | €104,148 | €57,374 | -€46,774 | -44.9% |
| Financial income | 75/76B | €205,217 | €60,358 | -€144,858 | -70.6% |
| Recurring financial income | 75 | €25,561 | €60,358 | +€34,798 | +136% |
| Non-recurring financial income | 76B | €179,656 | €0 | -€179,656 | -100% |
| Financial charges | 65/66B | €21,967 | €30,768 | +€8,801 | +40.1% |
| Recurring financial charges | 65 | €21,967 | €30,768 | +€8,801 | +40.1% |
| Profit (loss) for the period before taxes | 9903 | €287,398 | €86,965 | -€200,433 | -69.7% |
| Income taxes | 67/77 | €52,632 | €23,715 | -€28,916 | -54.9% |
| Profit (loss) for the period | 9904 | €234,766 | €63,249 | -€171,517 | -73.1% |
| Profit (loss) for the period to be appropriated | 9905 | €234,766 | €63,249 | -€171,517 | -73.1% |
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 16 October 2026 via checked.be.