Vandercammen: 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.
Vandercammen
Largest movements
- Cash +€21,920
up €21,920 (+43.2%), from €50,710 to €72,630
mainly Other debts (+€30,366) and Net result for the year (+€24,809)
- Tangible fixed assets -€6,856
down €6,856 (-31.7%), from €21,617 to €14,761
of which Furniture and vehicles: -€6,736
- Receivables within one year +€6,257
up €6,257 (+1862.3%), from €336 to €6,593
of which Other amounts receivable: +€6,553
- Stocks and contracts +€3,013
up €3,013 (+1.6%), from €185,314 to €188,328
- Other debts +€30,366
up €30,366 (+92.2%), from €32,939 to €63,305
- Profit (loss) carried forward +€24,809
up €24,809 (+54.3%), from €45,683 to €70,492
- Tax, wage and social debts -€13,495
down €13,495 (-53.8%), from €25,065 to €11,569
of which Taxes: -€13,495
- Trade debts -€11,501
down €11,501 (-20.5%), from €56,051 to €44,550
- Debts after one year -€6,581
down €6,581 (-43.4%), from €15,178 to €8,598
- Write-downs -€9,470
down €9,470 (-43.0%), from €22,014 to €12,544
- Gross operating margin -€3,555
down €3,555 (-6.4%), from €55,420 to €51,865
- Depreciation -€3,109
down €3,109 (-31.2%), from €9,965 to €6,856
- Financial charges +€2,604
up €2,604 (+84.8%), from €3,072 to €5,676
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 | €261,556 | €285,408 | +€23,851 | +9.1% |
| Fixed assets | 21/28 | €22,027 | €15,171 | -€6,856 | -31.1% |
| Tangible fixed assets | 22/27 | €21,617 | €14,761 | -€6,856 | -31.7% |
| Furniture and vehicles | 24 | €21,497 | €14,761 | -€6,736 | -31.3% |
| Other tangible fixed assets | 26 | €120 | €0 | -€120 | -100.0% |
| Financial fixed assets | 28 | €410 | €410 | = | 0.0% |
| Current assets | 29/58 | €239,530 | €270,237 | +€30,707 | +12.8% |
| Stocks and contracts in progress | 3 | €185,314 | €188,328 | +€3,013 | +1.6% |
| Stocks | 30/36 | €185,314 | €188,328 | +€3,013 | +1.6% |
| Amounts receivable within one year | 40/41 | €336 | €6,593 | +€6,257 | +1862.3% |
| Trade receivables | 40 | €336 | €40 | -€296 | -88.2% |
| Other amounts receivable | 41 | - | €6,553 | +€6,553 | |
| Cash at bank and in hand | 54/58 | €50,710 | €72,630 | +€21,920 | +43.2% |
| Deferred charges and accrued income | 490/1 | €3,169 | €2,686 | -€483 | -15.2% |
| Total equity and liabilities | 10/49 | €261,556 | €285,408 | +€23,851 | +9.1% |
| Equity | 10/15 | €117,700 | €142,509 | +€24,809 | +21.1% |
| Contributions | 10/11 | €24,789 | €24,789 | = | 0.0% |
| Reserves | 13 | €47,227 | €47,227 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €0 | - | = | |
| Distributable reserves | 133 | €47,227 | €47,227 | = | 0.0% |
| Profit (loss) carried forward | 14 | €45,683 | €70,492 | +€24,809 | +54.3% |
| Amounts payable | 17/49 | €143,857 | €142,899 | -€958 | -0.7% |
| Amounts payable after more than one year | 17 | €15,178 | €8,598 | -€6,581 | -43.4% |
| Financial debts | 170/4 | €15,178 | €8,598 | -€6,581 | -43.4% |
| Amounts payable within one year | 42/48 | €120,382 | €126,005 | +€5,623 | +4.7% |
| Current portion of amounts payable after more than one year | 42 | €6,328 | €6,581 | +€253 | +4.0% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €56,051 | €44,550 | -€11,501 | -20.5% |
| Suppliers | 440/4 | €56,051 | €44,550 | -€11,501 | -20.5% |
| Taxes, remuneration and social security | 45 | €25,065 | €11,569 | -€13,495 | -53.8% |
| Taxes | 450/3 | €25,065 | €11,569 | -€13,495 | -53.8% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €32,939 | €63,305 | +€30,366 | +92.2% |
| Accrued charges and deferred income | 492/3 | €8,296 | €8,296 | = | 0.0% |
| Non-recurring operating income | 76A | - | €1,937 | +€1,937 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,965 | €6,856 | -€3,109 | -31.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €22,014 | €12,544 | -€9,470 | -43.0% |
| Other operating charges | 640/8 | €4,671 | €4,849 | +€178 | +3.8% |
| Gross operating margin | 9900 | €55,420 | €51,865 | -€3,555 | -6.4% |
| Operating profit (loss) | 9901 | €18,770 | €27,616 | +€8,846 | +47.1% |
| Financial income | 75/76B | €9,390 | €9,271 | -€119 | -1.3% |
| Recurring financial income | 75 | €9,390 | €9,271 | -€119 | -1.3% |
| Financial charges | 65/66B | €3,072 | €5,676 | +€2,604 | +84.8% |
| Recurring financial charges | 65 | €3,072 | €5,676 | +€2,604 | +84.8% |
| Profit (loss) for the period before taxes | 9903 | €25,088 | €31,212 | +€6,123 | +24.4% |
| Income taxes | 67/77 | €6,869 | €6,402 | -€467 | -6.8% |
| Profit (loss) for the period | 9904 | €18,219 | €24,809 | +€6,590 | +36.2% |
| Transfer from tax-exempt reserves | 789 | €1,487 | €0 | -€1,487 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €19,706 | €24,809 | +€5,103 | +25.9% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.