VANDER SCHAEVEN: 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 SCHAEVEN
Largest movements
- Current investments +€105,937
up €105,937 (+68.3%), from €154,997 to €260,934
- Receivables within one year -€50,160
down €50,160 (-32.1%), from €156,090 to €105,930
of which Trade receivables: -€34,504
- Tangible fixed assets -€27,328
down €27,328 (-5.0%), from €548,213 to €520,886
of which Land and buildings: -€17,522
- Cash +€19,570
up €19,570 (+9.0%), from €216,252 to €235,822
mainly Net result for the year (+€153,148) and Receivables within one year (+€50,160)
- Reserves +€53,100
up €53,100 (+8.0%), from €667,147 to €720,247
- Other debts +€42,332
up €42,332 (+54.5%), from €77,710 to €120,041
- Debts after one year -€25,787
down €25,787 (-32.9%), from €78,352 to €52,565
- Trade debts -€15,035
down €15,035 (-93.8%), from €16,030 to €995
- Gross operating margin -€42,061
down €42,061 (-13.5%), from €311,379 to €269,319
- Staff costs -€24,750
down €24,750 (-67.1%), from €36,905 to €12,155
- Taxes -€4,605
down €4,605 (-6.5%), from €71,105 to €66,500
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 | €1,142,202 | €1,191,083 | +€48,881 | +4.3% |
| Fixed assets | 21/28 | €548,213 | €521,386 | -€26,828 | -4.9% |
| Tangible fixed assets | 22/27 | €548,213 | €520,886 | -€27,328 | -5.0% |
| Land and buildings | 22 | €495,358 | €477,836 | -€17,522 | -3.5% |
| Plant, machinery and equipment | 23 | €8,175 | €7,487 | -€689 | -8.4% |
| Furniture and vehicles | 24 | €44,680 | €35,563 | -€9,117 | -20.4% |
| Financial fixed assets | 28 | - | €500 | +€500 | |
| Current assets | 29/58 | €593,988 | €669,697 | +€75,709 | +12.7% |
| Stocks and contracts in progress | 3 | €59,042 | €61,248 | +€2,206 | +3.7% |
| Stocks | 30/36 | €59,042 | €61,248 | +€2,206 | +3.7% |
| Amounts receivable within one year | 40/41 | €156,090 | €105,930 | -€50,160 | -32.1% |
| Trade receivables | 40 | €136,676 | €102,171 | -€34,504 | -25.2% |
| Other amounts receivable | 41 | €19,414 | €3,759 | -€15,656 | -80.6% |
| Current investments | 50/53 | €154,997 | €260,934 | +€105,937 | +68.3% |
| Cash at bank and in hand | 54/58 | €216,252 | €235,822 | +€19,570 | +9.0% |
| Deferred charges and accrued income | 490/1 | €7,608 | €5,763 | -€1,845 | -24.2% |
| Total equity and liabilities | 10/49 | €1,142,202 | €1,191,083 | +€48,881 | +4.3% |
| Equity | 10/15 | €912,779 | €965,927 | +€53,148 | +5.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €667,147 | €720,247 | +€53,100 | +8.0% |
| Distributable reserves | 133 | €667,147 | €720,247 | +€53,100 | +8.0% |
| Profit (loss) carried forward | 14 | €227,040 | €227,088 | +€48 | 0.0% |
| Amounts payable | 17/49 | €229,422 | €225,156 | -€4,267 | -1.9% |
| Amounts payable after more than one year | 17 | €78,352 | €52,565 | -€25,787 | -32.9% |
| Financial debts | 170/4 | €78,352 | €52,565 | -€25,787 | -32.9% |
| Amounts payable within one year | 42/48 | €150,156 | €171,647 | +€21,491 | +14.3% |
| Current portion of amounts payable after more than one year | 42 | €25,463 | €25,787 | +€325 | +1.3% |
| Trade debts | 44 | €16,030 | €995 | -€15,035 | -93.8% |
| Suppliers | 440/4 | €16,030 | €995 | -€15,035 | -93.8% |
| Taxes, remuneration and social security | 45 | €30,954 | €24,823 | -€6,131 | -19.8% |
| Taxes | 450/3 | €30,954 | €20,420 | -€10,534 | -34.0% |
| Remuneration and social security | 454/9 | - | €4,403 | +€4,403 | |
| Other amounts payable | 47/48 | €77,710 | €120,041 | +€42,332 | +54.5% |
| Accrued charges and deferred income | 492/3 | €914 | €944 | +€30 | +3.3% |
| Non-recurring operating income | 76A | - | €4,650 | +€4,650 | |
| Remuneration, social security and pensions | 62 | €36,905 | €12,155 | -€24,750 | -67.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,889 | €35,338 | +€1,449 | +4.3% |
| Other operating charges | 640/8 | €8,488 | €6,954 | -€1,534 | -18.1% |
| Gross operating margin | 9900 | €311,379 | €269,319 | -€42,061 | -13.5% |
| Operating profit (loss) | 9901 | €232,097 | €214,871 | -€17,226 | -7.4% |
| Financial income | 75/76B | €6,113 | €6,847 | +€734 | +12.0% |
| Recurring financial income | 75 | €6,113 | €6,847 | +€734 | +12.0% |
| Financial charges | 65/66B | €1,692 | €2,070 | +€378 | +22.4% |
| Recurring financial charges | 65 | €1,692 | €2,070 | +€378 | +22.4% |
| Profit (loss) for the period before taxes | 9903 | €236,518 | €219,648 | -€16,870 | -7.1% |
| Income taxes | 67/77 | €71,105 | €66,500 | -€4,605 | -6.5% |
| Profit (loss) for the period | 9904 | €165,413 | €153,148 | -€12,265 | -7.4% |
| Profit (loss) for the period to be appropriated | 9905 | €165,413 | €153,148 | -€12,265 | -7.4% |
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 21 October 2026 via checked.be.