VANDERBOG: 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.
VANDERBOG
Largest movements
- Cash +€63,743
up €63,743 (+181.6%), from €35,110 to €98,854
mainly Current investments (+€50,000) and Depreciation (+€17,871)
- Current investments -€50,000
down €50,000 (-50.6%), from €98,776 to €48,776
- Tangible fixed assets -€17,871
down €17,871 (-9.0%), from €199,657 to €181,786
- Debts after one year -€6,667
down €6,667 (-30.8%), from €21,666 to €14,999
- Profit (loss) carried forward +€3,851
up €3,851 (+23.3%), from €16,552 to €20,403
- Financial income +€2,142
up €2,142 (+98.5%), from €2,174 to €4,316
- Financial charges -€693
down €693 (-43.6%), from €1,590 to €896
- Gross operating margin +€590
up €590 (+2.9%), from €20,258 to €20,848
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €334,045 | €330,710 | -€3,335 | -1.0% |
| Fixed assets | 21/28 | €199,657 | €181,786 | -€17,871 | -9.0% |
| Tangible fixed assets | 22/27 | €199,657 | €181,786 | -€17,871 | -9.0% |
| Land and buildings | 22 | €199,657 | €181,786 | -€17,871 | -9.0% |
| Current assets | 29/58 | €134,388 | €148,924 | +€14,536 | +10.8% |
| Amounts receivable within one year | 40/41 | €502 | €1,295 | +€792 | +157.8% |
| Other amounts receivable | 41 | €502 | €1,295 | +€792 | +157.8% |
| Current investments | 50/53 | €98,776 | €48,776 | -€50,000 | -50.6% |
| Cash at bank and in hand | 54/58 | €35,110 | €98,854 | +€63,743 | +181.6% |
| Total equity and liabilities | 10/49 | €334,045 | €330,710 | -€3,335 | -1.0% |
| Equity | 10/15 | €162,782 | €166,633 | +€3,851 | +2.4% |
| Contributions | 10/11 | €146,230 | €146,230 | = | 0.0% |
| Profit (loss) carried forward | 14 | €16,552 | €20,403 | +€3,851 | +23.3% |
| Amounts payable | 17/49 | €171,263 | €164,077 | -€7,186 | -4.2% |
| Amounts payable after more than one year | 17 | €21,666 | €14,999 | -€6,667 | -30.8% |
| Financial debts | 170/4 | €21,666 | €14,999 | -€6,667 | -30.8% |
| Amounts payable within one year | 42/48 | €149,597 | €149,077 | -€520 | -0.3% |
| Current portion of amounts payable after more than one year | 42 | €7,222 | €6,667 | -€556 | -7.7% |
| Trade debts | 44 | - | €36 | +€36 | |
| Suppliers | 440/4 | - | €36 | +€36 | |
| Other amounts payable | 47/48 | €142,375 | €142,375 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,871 | €17,871 | = | 0.0% |
| Other operating charges | 640/8 | €2,483 | €2,546 | +€63 | +2.5% |
| Gross operating margin | 9900 | €20,258 | €20,848 | +€590 | +2.9% |
| Operating profit (loss) | 9901 | -€96 | €431 | +€527 | |
| Financial income | 75/76B | €2,174 | €4,316 | +€2,142 | +98.5% |
| Recurring financial income | 75 | €2,174 | €4,316 | +€2,142 | +98.5% |
| Financial charges | 65/66B | €1,590 | €896 | -€693 | -43.6% |
| Recurring financial charges | 65 | €1,590 | €896 | -€693 | -43.6% |
| Profit (loss) for the period before taxes | 9903 | €489 | €3,851 | +€3,362 | +688.1% |
| Income taxes | 67/77 | - | €0 | = | |
| Profit (loss) for the period | 9904 | €489 | €3,851 | +€3,362 | +688.1% |
| Profit (loss) for the period to be appropriated | 9905 | €489 | €3,851 | +€3,362 | +688.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.