Vanderbeck Stéphane: 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.
Vanderbeck Stéphane
Largest movements
- Cash -€42,722
down €42,722 (-65.7%), from €65,045 to €22,323
mainly Other debts (-€40,000) and Trade debts (-€14,936)
- Stocks and contracts +€9,635
up €9,635 (+63.6%), from €15,141 to €24,776
- Tangible fixed assets -€8,788
down €8,788 (-40.0%), from €21,969 to €13,181
- Receivables within one year +€8,381
up €8,381 (+8,381%), from €100 to €8,481
of which Trade receivables: +€7,949
- Other debts -€40,000
down €40,000 (-56.9%), from €70,308 to €30,308
- Profit (loss) carried forward +€17,610
up €17,610 (+134%), from €13,180 to €30,790
- Trade debts -€14,936
down €14,936 (-96.4%), from €15,488 to €552
- Tax, wage and social debts +€3,831
up €3,831 (+78.2%), from €4,899 to €8,731
- Depreciation -€4,394
down €4,394 (-33.3%), from €13,181 to €8,788
- Other operating charges -€833
down €833 (-61.5%), from €1,354 to €521
- Gross operating margin -€725
down €725 (-2.3%), from €32,037 to €31,312
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 | €108,876 | €75,381 | -€33,494 | -30.8% |
| Fixed assets | 21/28 | €28,317 | €19,530 | -€8,788 | -31.0% |
| Tangible fixed assets | 22/27 | €21,969 | €13,181 | -€8,788 | -40.0% |
| Plant, machinery and equipment | 23 | €21,969 | €13,181 | -€8,788 | -40.0% |
| Financial fixed assets | 28 | €6,349 | €6,349 | = | 0.0% |
| Current assets | 29/58 | €80,558 | €55,851 | -€24,707 | -30.7% |
| Stocks and contracts in progress | 3 | €15,141 | €24,776 | +€9,635 | +63.6% |
| Stocks | 30/36 | €15,141 | €24,776 | +€9,635 | +63.6% |
| Amounts receivable within one year | 40/41 | €100 | €8,481 | +€8,381 | +8,381% |
| Trade receivables | 40 | - | €7,949 | +€7,949 | |
| Other amounts receivable | 41 | €100 | €532 | +€432 | +432% |
| Cash at bank and in hand | 54/58 | €65,045 | €22,323 | -€42,722 | -65.7% |
| Deferred charges and accrued income | 490/1 | €272 | €272 | -€0 | -0.1% |
| Total equity and liabilities | 10/49 | €108,876 | €75,381 | -€33,494 | -30.8% |
| Equity | 10/15 | €18,180 | €35,790 | +€17,610 | +96.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €13,180 | €30,790 | +€17,610 | +134% |
| Amounts payable | 17/49 | €90,695 | €39,591 | -€51,104 | -56.3% |
| Amounts payable within one year | 42/48 | €90,695 | €39,591 | -€51,104 | -56.3% |
| Trade debts | 44 | €15,488 | €552 | -€14,936 | -96.4% |
| Suppliers | 440/4 | €15,488 | €552 | -€14,936 | -96.4% |
| Taxes, remuneration and social security | 45 | €4,899 | €8,731 | +€3,831 | +78.2% |
| Taxes | 450/3 | €4,899 | €8,731 | +€3,831 | +78.2% |
| Other amounts payable | 47/48 | €70,308 | €30,308 | -€40,000 | -56.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,181 | €8,788 | -€4,394 | -33.3% |
| Other operating charges | 640/8 | €1,354 | €521 | -€833 | -61.5% |
| Gross operating margin | 9900 | €32,037 | €31,312 | -€725 | -2.3% |
| Operating profit (loss) | 9901 | €17,501 | €22,003 | +€4,502 | +25.7% |
| Financial income | 75/76B | €154 | €63 | -€90 | -58.8% |
| Recurring financial income | 75 | €154 | €63 | -€90 | -58.8% |
| Financial charges | 65/66B | €82 | €54 | -€28 | -33.8% |
| Recurring financial charges | 65 | €82 | €54 | -€28 | -33.8% |
| Profit (loss) for the period before taxes | 9903 | €17,574 | €22,012 | +€4,439 | +25.3% |
| Income taxes | 67/77 | €4,393 | €4,402 | +€9 | +0.2% |
| Profit (loss) for the period | 9904 | €13,180 | €17,610 | +€4,430 | +33.6% |
| Profit (loss) for the period to be appropriated | 9905 | €13,180 | €17,610 | +€4,430 | +33.6% |
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 30 October 2026 via checked.be.