VANDEPOEL: 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.
VANDEPOEL
Largest movements
- Stocks and contracts -€39,562
down €39,562 (-47.5%), from €83,348 to €43,786
- Cash -€37,161
down €37,161 (-54.8%), from €67,873 to €30,712
- Receivables within one year +€6,313
up €6,313 (+136%), from €4,633 to €10,946
- Debts after one year -€36,035
down €36,035 (-10.7%), from €337,564 to €301,529
- Profit (loss) carried forward -€30,597
down €30,597 (-14.7%), from -€207,565 to -€238,162
- Trade debts -€5,395
no longer reported in 2021 (was €5,395)
- Tax, wage and social debts +€1,618
new in 2021: €1,618
- Gross operating margin -€85,962
down €85,962, from €79,487 to -€6,475
From the 2018 result to the 2021 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2018 | 2021 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €155,854 | €85,445 | -€70,409 | -45.2% |
| Current assets | 29/58 | €155,854 | €85,445 | -€70,409 | -45.2% |
| Stocks and contracts in progress | 3 | €83,348 | €43,786 | -€39,562 | -47.5% |
| Stocks | 30/36 | - | €43,786 | +€43,786 | |
| Amounts receivable within one year | 40/41 | €4,633 | €10,946 | +€6,313 | +136% |
| Trade receivables | 40 | - | €10,946 | +€10,946 | |
| Cash at bank and in hand | 54/58 | €67,873 | €30,712 | -€37,161 | -54.8% |
| Total equity and liabilities | 10/49 | €155,854 | €85,445 | -€70,409 | -45.2% |
| Equity | 10/15 | -€187,105 | -€217,702 | -€30,597 | -16.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | - | €1,860 | +€1,860 | |
| Reserves not available under the articles | 1311 | - | €1,860 | +€1,860 | |
| Profit (loss) carried forward | 14 | -€207,565 | -€238,162 | -€30,597 | -14.7% |
| Amounts payable | 17/49 | €342,959 | €303,146 | -€39,813 | -11.6% |
| Amounts payable after more than one year | 17 | €337,564 | €301,529 | -€36,035 | -10.7% |
| Other amounts payable | 178/9 | - | €301,529 | +€301,529 | |
| Amounts payable within one year | 42/48 | €5,395 | €1,618 | -€3,777 | -70.0% |
| Trade debts | 44 | €5,395 | - | -€5,395 | |
| Taxes, remuneration and social security | 45 | - | €1,618 | +€1,618 | |
| Taxes | 450/3 | - | €1,618 | +€1,618 | |
| Other operating charges | 640/8 | - | €109 | +€109 | |
| Gross operating margin | 9900 | €79,487 | -€6,475 | -€85,962 | |
| Operating profit (loss) | 9901 | -€50,590 | -€6,584 | +€44,006 | +87.0% |
| Recurring financial income | 75 | €8 | - | -€8 | |
| Financial charges | 65/66B | - | €733 | +€733 | |
| Recurring financial charges | 65 | €2,148 | €733 | -€1,415 | -65.9% |
| Profit (loss) for the period before taxes | 9903 | -€52,730 | -€7,317 | +€45,413 | +86.1% |
| Profit (loss) for the period | 9904 | -€52,730 | -€7,317 | +€45,413 | +86.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€52,730 | -€7,317 | +€45,413 | +86.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2018 and 31 December 2021. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.