VANDERBECQ & CO: 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.
VANDERBECQ & CO
Largest movements
- Tangible fixed assets +€268,151
up €268,151 (+27.6%), from €971,925 to €1.2m
of which Land and buildings: +€143,802
- Cash -€115,756
down €115,756 (-19.3%), from €599,719 to €483,963
mainly Investment in fixed assets (net) (-€426,536) and Contributions, distributions and other (-€159,100)
- Receivables within one year +€70,222
up €70,222 (+305%), from €23,051 to €93,272
of which Other amounts receivable: +€62,847
- Deferred charges and accrued income -€51,207
down €51,207 (-73.3%), from €69,848 to €18,641
- Intangible fixed assets -€39,600
down €39,600 (-16.5%), from €240,568 to €200,968
- Reserves +€203,000
up €203,000 (+10.4%), from €2.0m to €2.2m
of which Distributable reserves: +€203,000
- Debts after one year -€127,038
down €127,038 (-21.1%), from €600,822 to €473,784
of which Financial debts: -€140,318
- Staff costs +€166,674
up €166,674 (+57.8%), from €288,396 to €455,070
- Financial income +€100,060
up €100,060 (+79.7%), from €125,589 to €225,649
of which Financial income: +€59,983
- Taxes -€57,133
down €57,133 (-34.6%), from €165,179 to €108,046
- Depreciation +€46,000
up €46,000 (+33.3%), from €138,068 to €184,069
- Gross operating margin -€20,724
down €20,724 (-2.2%), from €924,597 to €903,873
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 | €3,108,855 | €3,222,222 | +€113,367 | +3.6% |
| Fixed assets | 21/28 | €2,101,379 | €2,343,846 | +€242,467 | +11.5% |
| Intangible fixed assets | 21 | €240,568 | €200,968 | -€39,600 | -16.5% |
| Tangible fixed assets | 22/27 | €971,925 | €1,240,076 | +€268,151 | +27.6% |
| Land and buildings | 22 | €715,675 | €859,477 | +€143,802 | +20.1% |
| Plant, machinery and equipment | 23 | €165,307 | €242,743 | +€77,436 | +46.8% |
| Furniture and vehicles | 24 | €55,040 | €132,809 | +€77,769 | +141% |
| Other tangible fixed assets | 26 | €5,654 | €5,047 | -€606 | -10.7% |
| Assets under construction and advance payments | 27 | €30,250 | €0 | -€30,250 | -100% |
| Financial fixed assets | 28 | €888,886 | €902,802 | +€13,917 | +1.6% |
| Current assets | 29/58 | €1,007,476 | €878,376 | -€129,100 | -12.8% |
| Amounts receivable after more than one year | 29 | €15,000 | €15,000 | = | 0.0% |
| Other amounts receivable | 291 | €15,000 | €15,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €23,051 | €93,272 | +€70,222 | +305% |
| Trade receivables | 40 | €20,258 | €27,633 | +€7,375 | +36.4% |
| Other amounts receivable | 41 | €2,793 | €65,639 | +€62,847 | +2,250% |
| Current investments | 50/53 | €299,859 | €267,500 | -€32,359 | -10.8% |
| Cash at bank and in hand | 54/58 | €599,719 | €483,963 | -€115,756 | -19.3% |
| Deferred charges and accrued income | 490/1 | €69,848 | €18,641 | -€51,207 | -73.3% |
| Total equity and liabilities | 10/49 | €3,108,855 | €3,222,222 | +€113,367 | +3.6% |
| Equity | 10/15 | €1,968,132 | €2,171,137 | +€203,005 | +10.3% |
| Contributions | 10/11 | €9,950 | €9,950 | = | 0.0% |
| Reserves | 13 | €1,956,760 | €2,159,760 | +€203,000 | +10.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,954,900 | €2,157,900 | +€203,000 | +10.4% |
| Profit (loss) carried forward | 14 | €1,422 | €1,427 | +€5 | +0.4% |
| Amounts payable | 17/49 | €1,140,723 | €1,051,085 | -€89,638 | -7.9% |
| Amounts payable after more than one year | 17 | €600,822 | €473,784 | -€127,038 | -21.1% |
| Financial debts | 170/4 | €600,772 | €460,454 | -€140,318 | -23.4% |
| Other amounts payable | 178/9 | €50 | €13,330 | +€13,280 | +26,560% |
| Amounts payable within one year | 42/48 | €517,700 | €562,855 | +€45,155 | +8.7% |
| Current portion of amounts payable after more than one year | 42 | €200,823 | €207,282 | +€6,459 | +3.2% |
| Trade debts | 44 | €66,029 | €59,448 | -€6,581 | -10.0% |
| Suppliers | 440/4 | €66,029 | €59,448 | -€6,581 | -10.0% |
| Taxes, remuneration and social security | 45 | €59,019 | €90,979 | +€31,960 | +54.2% |
| Taxes | 450/3 | €24,252 | €30,897 | +€6,645 | +27.4% |
| Remuneration and social security | 454/9 | €34,767 | €60,082 | +€25,316 | +72.8% |
| Other amounts payable | 47/48 | €191,829 | €205,146 | +€13,317 | +6.9% |
| Accrued charges and deferred income | 492/3 | €22,201 | €14,446 | -€7,755 | -34.9% |
| Non-recurring operating income | 76A | €262 | €2,206 | +€1,944 | +741% |
| Remuneration, social security and pensions | 62 | €288,396 | €455,070 | +€166,674 | +57.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €138,068 | €184,069 | +€46,000 | +33.3% |
| Other operating charges | 640/8 | €24,536 | €19,334 | -€5,202 | -21.2% |
| Non-recurring operating charges | 66A | €7,625 | €894 | -€6,731 | -88.3% |
| Gross operating margin | 9900 | €924,597 | €903,873 | -€20,724 | -2.2% |
| Operating profit (loss) | 9901 | €465,972 | €244,506 | -€221,466 | -47.5% |
| Financial income | 75/76B | €125,589 | €225,649 | +€100,060 | +79.7% |
| Recurring financial income | 75 | €125,589 | €185,572 | +€59,983 | +47.8% |
| Non-recurring financial income | 76B | €0 | €40,077 | +€40,077 | |
| Financial charges | 65/66B | €8,086 | €4 | -€8,081 | -99.9% |
| Recurring financial charges | 65 | €8,086 | €4 | -€8,081 | -99.9% |
| Profit (loss) for the period before taxes | 9903 | €583,476 | €470,151 | -€113,325 | -19.4% |
| Income taxes | 67/77 | €165,179 | €108,046 | -€57,133 | -34.6% |
| Profit (loss) for the period | 9904 | €418,297 | €362,105 | -€56,192 | -13.4% |
| Profit (loss) for the period to be appropriated | 9905 | €418,297 | €362,105 | -€56,192 | -13.4% |
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 14 October 2026 via checked.be.