VANDERBEKE LUC: 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.
VANDERBEKE LUC
Largest movements
- Cash +€64,851
up €64,851 (+83.4%), from €77,770 to €142,621
mainly Net result for the year (+€33,668) and Current investments (+€26,001)
- Current investments -€26,001
down €26,001 (-6.2%), from €420,314 to €394,314
- Tangible fixed assets -€10,551
down €10,551 (-51.8%), from €20,380 to €9,828
- Reserves +€32,068
up €32,068 (+6.8%), from €470,686 to €502,754
of which Distributable reserves: +€32,068
- Other debts -€7,226
down €7,226 (-24.5%), from €29,531 to €22,305
- Financial income +€48,216
up €48,216 (+464%), from €10,399 to €58,614
- Gross operating margin -€43,699
down €43,699 (-84.5%), from €51,693 to €7,994
- Taxes +€2,336
up €2,336 (+15.0%), from €15,616 to €17,952
- Financial charges +€1,328
up €1,328 (+52.8%), from €2,516 to €3,844
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 | €531,872 | €556,907 | +€25,035 | +4.7% |
| Fixed assets | 21/28 | €20,380 | €9,828 | -€10,551 | -51.8% |
| Tangible fixed assets | 22/27 | €20,380 | €9,828 | -€10,551 | -51.8% |
| Furniture and vehicles | 24 | €20,380 | €9,828 | -€10,551 | -51.8% |
| Current assets | 29/58 | €511,493 | €547,079 | +€35,586 | +7.0% |
| Amounts receivable within one year | 40/41 | €12,731 | €9,418 | -€3,313 | -26.0% |
| Trade receivables | 40 | €7,260 | €4,235 | -€3,025 | -41.7% |
| Other amounts receivable | 41 | €5,471 | €5,183 | -€288 | -5.3% |
| Current investments | 50/53 | €420,314 | €394,314 | -€26,001 | -6.2% |
| Cash at bank and in hand | 54/58 | €77,770 | €142,621 | +€64,851 | +83.4% |
| Deferred charges and accrued income | 490/1 | €678 | €726 | +€49 | +7.2% |
| Total equity and liabilities | 10/49 | €531,872 | €556,907 | +€25,035 | +4.7% |
| Equity | 10/15 | €490,686 | €522,754 | +€32,068 | +6.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €470,686 | €502,754 | +€32,068 | +6.8% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €468,686 | €500,754 | +€32,068 | +6.8% |
| Amounts payable | 17/49 | €41,186 | €34,152 | -€7,034 | -17.1% |
| Amounts payable within one year | 42/48 | €41,186 | €34,152 | -€7,034 | -17.1% |
| Trade debts | 44 | €1,586 | €4,858 | +€3,272 | +206% |
| Suppliers | 440/4 | €1,586 | €4,858 | +€3,272 | +206% |
| Taxes, remuneration and social security | 45 | €10,068 | €6,989 | -€3,079 | -30.6% |
| Taxes | 450/3 | €10,068 | €6,989 | -€3,079 | -30.6% |
| Other amounts payable | 47/48 | €29,531 | €22,305 | -€7,226 | -24.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,551 | €10,551 | = | 0.0% |
| Other operating charges | 640/8 | €598 | €593 | -€5 | -0.8% |
| Gross operating margin | 9900 | €51,693 | €7,994 | -€43,699 | -84.5% |
| Operating profit (loss) | 9901 | €40,544 | -€3,151 | -€43,694 | |
| Financial income | 75/76B | €10,399 | €58,614 | +€48,216 | +464% |
| Recurring financial income | 75 | €10,399 | €58,614 | +€48,216 | +464% |
| Financial charges | 65/66B | €2,516 | €3,844 | +€1,328 | +52.8% |
| Recurring financial charges | 65 | €2,516 | €3,844 | +€1,328 | +52.8% |
| Profit (loss) for the period before taxes | 9903 | €48,426 | €51,620 | +€3,194 | +6.6% |
| Income taxes | 67/77 | €15,616 | €17,952 | +€2,336 | +15.0% |
| Profit (loss) for the period | 9904 | €32,810 | €33,668 | +€858 | +2.6% |
| Profit (loss) for the period to be appropriated | 9905 | €32,810 | €33,668 | +€858 | +2.6% |
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 17 October 2026 via checked.be.