VANDERBEEK: what changed
Two fiscal 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.
VANDERBEEK
Largest movements
- Cash -€128,321
down €128,321 (-94.9%), from €135,200 to €6,880
mainly Contributions, distributions and other (-€89,960) and Current investments (-€68,000)
- Current investments +€68,000
new in 2025: €68,000
- Tangible fixed assets -€17,858
down €17,858 (-10.7%), from €166,375 to €148,517
of which Land and buildings: -€8,972
- Reserves -€80,498
down €80,498 (-33.2%), from €242,673 to €162,175
of which Distributable reserves: -€80,498
- Gross operating margin +€5,626
up €5,626 (+15.8%), from €35,665 to €41,291
- Financial income -€4,975
down €4,975 (-93.7%), from €5,311 to €337
- Depreciation -€1,715
down €1,715 (-8.8%), from €19,573 to €17,858
- Financial charges +€970
up €970 (+721.5%), from €134 to €1,104
- Taxes +€601
up €601 (+10.3%), from €5,850 to €6,452
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.
Cash bridge derived
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 | €312,065 | €233,542 | -€78,523 | -25.2% |
| Fixed assets | 21/28 | €166,375 | €148,517 | -€17,858 | -10.7% |
| Tangible fixed assets | 22/27 | €166,375 | €148,517 | -€17,858 | -10.7% |
| Land and buildings | 22 | €132,345 | €123,373 | -€8,972 | -6.8% |
| Plant, machinery and equipment | 23 | €1,855 | €1,239 | -€616 | -33.2% |
| Furniture and vehicles | 24 | €32,175 | €23,905 | -€8,270 | -25.7% |
| Current assets | 29/58 | €145,690 | €85,025 | -€60,665 | -41.6% |
| Current investments | 50/53 | - | €68,000 | +€68,000 | |
| Cash at bank and in hand | 54/58 | €135,200 | €6,880 | -€128,321 | -94.9% |
| Deferred charges and accrued income | 490/1 | €10,490 | €10,145 | -€345 | -3.3% |
| Total equity and liabilities | 10/49 | €312,065 | €233,542 | -€78,523 | -25.2% |
| Equity | 10/15 | €304,673 | €224,175 | -€80,498 | -26.4% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €242,673 | €162,175 | -€80,498 | -33.2% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €440 | €440 | = | 0.0% |
| Distributable reserves | 133 | €236,033 | €155,535 | -€80,498 | -34.1% |
| Amounts payable | 17/49 | €7,392 | €9,367 | +€1,975 | +26.7% |
| Amounts payable within one year | 42/48 | €4,392 | €6,367 | +€1,975 | +45.0% |
| Trade debts | 44 | €135 | €16 | -€118 | -88.0% |
| Suppliers | 440/4 | €135 | €16 | -€118 | -88.0% |
| Taxes, remuneration and social security | 45 | €4,257 | €6,351 | +€2,094 | +49.2% |
| Taxes | 450/3 | €4,257 | €6,351 | +€2,094 | +49.2% |
| Accrued charges and deferred income | 492/3 | €3,000 | €3,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,573 | €17,858 | -€1,715 | -8.8% |
| Other operating charges | 640/8 | €7,087 | €6,752 | -€335 | -4.7% |
| Gross operating margin | 9900 | €35,665 | €41,291 | +€5,626 | +15.8% |
| Operating profit (loss) | 9901 | €9,005 | €16,681 | +€7,677 | +85.3% |
| Financial income | 75/76B | €5,311 | €337 | -€4,975 | -93.7% |
| Recurring financial income | 75 | €5,311 | €337 | -€4,975 | -93.7% |
| Financial charges | 65/66B | €134 | €1,104 | +€970 | +721.5% |
| Recurring financial charges | 65 | €134 | €1,104 | +€970 | +721.5% |
| Profit (loss) for the period before taxes | 9903 | €14,182 | €15,914 | +€1,732 | +12.2% |
| Income taxes | 67/77 | €5,850 | €6,452 | +€601 | +10.3% |
| Profit (loss) for the period | 9904 | €8,331 | €9,462 | +€1,131 | +13.6% |
| Profit (loss) for the period to be appropriated | 9905 | €8,331 | €9,462 | +€1,131 | +13.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.