VANDEREYT E.: 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.
VANDEREYT E.
Largest movements
- Stocks and contracts +€736,811
up €736,811 (+58.1%), from €1.3m to €2.0m
- Cash +€69,545
up €69,545 (+66.7%), from €104,325 to €173,870
mainly Short-term financial debts (+€613,549) and Other debts (+€100,036)
- Tangible fixed assets -€61,351
down €61,351 (-42.0%), from €146,228 to €84,877
- Short-term financial debts +€613,549
up €613,549 (+102%), from €604,057 to €1.2m
- Other debts +€100,036
up €100,036 (+17.6%), from €569,514 to €669,550
- Reserves +€60,786
up €60,786 (+23.9%), from €253,838 to €314,624
- Debts after one year -€27,528
down €27,528 (-47.7%), from €57,766 to €30,238
- Gross operating margin +€67,041
up €67,041 (+40.2%), from €166,906 to €233,947
- Staff costs +€40,194
up €40,194 (+55.7%), from €72,201 to €112,395
- Depreciation -€11,922
down €11,922 (-31.0%), from €38,462 to €26,539
- Taxes +€8,727
up €8,727 (+57.8%), from €15,090 to €23,817
- Financial charges +€5,702
up €5,702 (+255%), from €2,236 to €7,937
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 | €1,554,449 | €2,313,096 | +€758,647 | +48.8% |
| Fixed assets | 21/28 | €146,228 | €84,877 | -€61,351 | -42.0% |
| Tangible fixed assets | 22/27 | €146,228 | €84,877 | -€61,351 | -42.0% |
| Furniture and vehicles | 24 | €146,228 | €84,877 | -€61,351 | -42.0% |
| Current assets | 29/58 | €1,408,221 | €2,228,218 | +€819,998 | +58.2% |
| Stocks and contracts in progress | 3 | €1,267,250 | €2,004,061 | +€736,811 | +58.1% |
| Stocks | 30/36 | €1,267,250 | €2,004,061 | +€736,811 | +58.1% |
| Amounts receivable within one year | 40/41 | €21,623 | €38,764 | +€17,141 | +79.3% |
| Trade receivables | 40 | €20,240 | €37,581 | +€17,341 | +85.7% |
| Other amounts receivable | 41 | €1,383 | €1,183 | -€200 | -14.5% |
| Cash at bank and in hand | 54/58 | €104,325 | €173,870 | +€69,545 | +66.7% |
| Deferred charges and accrued income | 490/1 | €15,024 | €11,524 | -€3,500 | -23.3% |
| Total equity and liabilities | 10/49 | €1,554,449 | €2,313,096 | +€758,647 | +48.8% |
| Equity | 10/15 | €266,238 | €327,024 | +€60,786 | +22.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €253,838 | €314,624 | +€60,786 | +23.9% |
| Distributable reserves | 133 | €253,838 | €314,624 | +€60,786 | +23.9% |
| Amounts payable | 17/49 | €1,288,211 | €1,986,071 | +€697,861 | +54.2% |
| Amounts payable after more than one year | 17 | €57,766 | €30,238 | -€27,528 | -47.7% |
| Financial debts | 170/4 | €57,766 | €30,238 | -€27,528 | -47.7% |
| Amounts payable within one year | 42/48 | €1,230,445 | €1,955,639 | +€725,194 | +58.9% |
| Current portion of amounts payable after more than one year | 42 | €27,165 | €27,528 | +€363 | +1.3% |
| Financial debts | 43 | €604,057 | €1,217,606 | +€613,549 | +102% |
| Credit institutions | 430/8 | €604,057 | €1,217,606 | +€613,549 | +102% |
| Trade debts | 44 | €15,276 | €11,050 | -€4,226 | -27.7% |
| Suppliers | 440/4 | €15,276 | €11,050 | -€4,226 | -27.7% |
| Taxes, remuneration and social security | 45 | €14,432 | €29,905 | +€15,472 | +107% |
| Taxes | 450/3 | €11,159 | €26,238 | +€15,078 | +135% |
| Remuneration and social security | 454/9 | €3,273 | €3,667 | +€394 | +12.0% |
| Other amounts payable | 47/48 | €569,514 | €669,550 | +€100,036 | +17.6% |
| Accrued charges and deferred income | 492/3 | - | €195 | +€195 | |
| Non-recurring operating income | 76A | - | €7,338 | +€7,338 | |
| Remuneration, social security and pensions | 62 | €72,201 | €112,395 | +€40,194 | +55.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,462 | €26,539 | -€11,922 | -31.0% |
| Other operating charges | 640/8 | €3,985 | €2,143 | -€1,842 | -46.2% |
| Non-recurring operating charges | 66A | - | €596 | +€596 | |
| Gross operating margin | 9900 | €166,906 | €233,947 | +€67,041 | +40.2% |
| Operating profit (loss) | 9901 | €52,259 | €92,274 | +€40,016 | +76.6% |
| Financial income | 75/76B | €497 | €266 | -€231 | -46.5% |
| Recurring financial income | 75 | €497 | €266 | -€231 | -46.5% |
| Financial charges | 65/66B | €2,236 | €7,937 | +€5,702 | +255% |
| Recurring financial charges | 65 | €2,236 | €7,937 | +€5,702 | +255% |
| Profit (loss) for the period before taxes | 9903 | €50,520 | €84,603 | +€34,083 | +67.5% |
| Income taxes | 67/77 | €15,090 | €23,817 | +€8,727 | +57.8% |
| Profit (loss) for the period | 9904 | €35,430 | €60,786 | +€25,356 | +71.6% |
| Profit (loss) for the period to be appropriated | 9905 | €35,430 | €60,786 | +€25,356 | +71.6% |
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.