VANDER DONCKT: 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.
VANDER DONCKT
Largest movements
- Current investments +€597,923
new in 2025: €597,923
- Cash -€508,886
down €508,886 (-77.8%), from €654,050 to €145,164
mainly Current investments (-€597,923) and Contributions, distributions and other (-€44,127)
- Tangible fixed assets -€23,626
down €23,626 (-33.3%), from €70,986 to €47,360
of which Furniture and vehicles: -€19,960
- Reserves +€64,115
up €64,115 (+15.3%), from €419,380 to €483,495
of which Distributable reserves: +€481,635
- Trade debts -€25,748
down €25,748 (-70.8%), from €36,381 to €10,633
- Other debts +€17,556
up €17,556 (+697%), from €2,520 to €20,076
- Tax, wage and social debts +€9,488
up €9,488 (+38.3%), from €24,746 to €34,234
- Gross operating margin +€58,898
up €58,898 (+48.7%), from €121,048 to €179,946
- Taxes +€18,596
up €18,596 (+70.6%), from €26,347 to €44,943
- Financial income +€2,309
new in 2025: €2,309
- Financial charges +€2,076
up €2,076 (+4,613%), from €45 to €2,121
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 | €725,036 | €790,447 | +€65,411 | +9.0% |
| Fixed assets | 21/28 | €70,986 | €47,360 | -€23,626 | -33.3% |
| Tangible fixed assets | 22/27 | €70,986 | €47,360 | -€23,626 | -33.3% |
| Land and buildings | 22 | €16,276 | €13,688 | -€2,588 | -15.9% |
| Plant, machinery and equipment | 23 | €1,078 | - | -€1,078 | |
| Furniture and vehicles | 24 | €53,632 | €33,672 | -€19,960 | -37.2% |
| Current assets | 29/58 | €654,050 | €743,087 | +€89,037 | +13.6% |
| Current investments | 50/53 | - | €597,923 | +€597,923 | |
| Cash at bank and in hand | 54/58 | €654,050 | €145,164 | -€508,886 | -77.8% |
| Total equity and liabilities | 10/49 | €725,036 | €790,447 | +€65,411 | +9.0% |
| Equity | 10/15 | €660,236 | €724,351 | +€64,115 | +9.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €419,380 | €483,495 | +€64,115 | +15.3% |
| Non-distributable reserves | 130/1 | €419,380 | €1,860 | -€417,520 | -99.6% |
| Reserves not available under the articles | 1311 | €419,380 | €1,860 | -€417,520 | -99.6% |
| Distributable reserves | 133 | - | €481,635 | +€481,635 | |
| Profit (loss) carried forward | 14 | €222,256 | €222,256 | = | 0.0% |
| Amounts payable | 17/49 | €64,800 | €66,096 | +€1,296 | +2.0% |
| Amounts payable within one year | 42/48 | €63,647 | €64,943 | +€1,296 | +2.0% |
| Trade debts | 44 | €36,381 | €10,633 | -€25,748 | -70.8% |
| Suppliers | 440/4 | €36,381 | €10,633 | -€25,748 | -70.8% |
| Taxes, remuneration and social security | 45 | €24,746 | €34,234 | +€9,488 | +38.3% |
| Taxes | 450/3 | €24,746 | €34,234 | +€9,488 | +38.3% |
| Other amounts payable | 47/48 | €2,520 | €20,076 | +€17,556 | +697% |
| Accrued charges and deferred income | 492/3 | €1,153 | €1,153 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,038 | €23,626 | +€1,588 | +7.2% |
| Other operating charges | 640/8 | €3,326 | €3,323 | -€3 | -0.1% |
| Gross operating margin | 9900 | €121,048 | €179,946 | +€58,898 | +48.7% |
| Operating profit (loss) | 9901 | €95,684 | €152,997 | +€57,313 | +59.9% |
| Financial income | 75/76B | - | €2,309 | +€2,309 | |
| Recurring financial income | 75 | - | €2,309 | +€2,309 | |
| Financial charges | 65/66B | €45 | €2,121 | +€2,076 | +4,613% |
| Recurring financial charges | 65 | €45 | €2,121 | +€2,076 | +4,613% |
| Profit (loss) for the period before taxes | 9903 | €95,639 | €153,185 | +€57,546 | +60.2% |
| Income taxes | 67/77 | €26,347 | €44,943 | +€18,596 | +70.6% |
| Profit (loss) for the period | 9904 | €69,292 | €108,242 | +€38,950 | +56.2% |
| Profit (loss) for the period to be appropriated | 9905 | €69,292 | €108,242 | +€38,950 | +56.2% |
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 27 October 2026 via checked.be.