VANDERHEYDE MANAGEMENT: 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.
VANDERHEYDE MANAGEMENT
Largest movements
- Receivables within one year +€32,608
up €32,608 (+62.5%), from €52,133 to €84,741
of which Other amounts receivable: +€32,608
- Cash -€18,136
down €18,136 (-97.0%), from €18,694 to €557
mainly Debts after one year (-€58,722) and Receivables within one year (-€32,608)
- Tangible fixed assets -€17,927
down €17,927 (-25.4%), from €70,456 to €52,529
- Reserves +€66,648
up €66,648 (+4.5%), from €1.5m to €1.6m
- Debts after one year -€58,722
down €58,722 (-58.4%), from €100,551 to €41,829
- Other debts -€17,585
down €17,585 (-59.3%), from €29,676 to €12,091
- Gross operating margin +€14,293
up €14,293 (+10.9%), from €130,687 to €144,980
- Financial income +€13,000
new in 2025: €13,000
- Taxes +€6,089
up €6,089 (+20.6%), from €29,491 to €35,580
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 | €1,700,540 | €1,696,551 | -€3,989 | -0.2% |
| Fixed assets | 21/28 | €1,629,180 | €1,611,253 | -€17,927 | -1.1% |
| Tangible fixed assets | 22/27 | €70,456 | €52,529 | -€17,927 | -25.4% |
| Furniture and vehicles | 24 | €70,456 | €52,529 | -€17,927 | -25.4% |
| Financial fixed assets | 28 | €1,558,724 | €1,558,724 | = | 0.0% |
| Current assets | 29/58 | €71,360 | €85,298 | +€13,938 | +19.5% |
| Amounts receivable within one year | 40/41 | €52,133 | €84,741 | +€32,608 | +62.5% |
| Trade receivables | 40 | €12,100 | €12,100 | = | 0.0% |
| Other amounts receivable | 41 | €40,033 | €72,641 | +€32,608 | +81.5% |
| Cash at bank and in hand | 54/58 | €18,694 | €557 | -€18,136 | -97.0% |
| Deferred charges and accrued income | 490/1 | €533 | €0 | -€533 | -100% |
| Total equity and liabilities | 10/49 | €1,700,540 | €1,696,551 | -€3,989 | -0.2% |
| Equity | 10/15 | €1,501,281 | €1,567,929 | +€66,648 | +4.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,488,881 | €1,555,529 | +€66,648 | +4.5% |
| Distributable reserves | 133 | €1,488,881 | €1,555,529 | +€66,648 | +4.5% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €199,259 | €128,622 | -€70,637 | -35.4% |
| Amounts payable after more than one year | 17 | €100,551 | €41,829 | -€58,722 | -58.4% |
| Financial debts | 170/4 | €100,551 | €41,829 | -€58,722 | -58.4% |
| Amounts payable within one year | 42/48 | €97,930 | €82,963 | -€14,967 | -15.3% |
| Current portion of amounts payable after more than one year | 42 | €57,625 | €58,722 | +€1,097 | +1.9% |
| Trade debts | 44 | €252 | €3,146 | +€2,895 | +1,150% |
| Suppliers | 440/4 | €252 | €3,146 | +€2,895 | +1,150% |
| Taxes, remuneration and social security | 45 | €10,377 | €9,003 | -€1,374 | -13.2% |
| Taxes | 450/3 | €10,377 | €9,003 | -€1,374 | -13.2% |
| Other amounts payable | 47/48 | €29,676 | €12,091 | -€17,585 | -59.3% |
| Accrued charges and deferred income | 492/3 | €779 | €3,831 | +€3,052 | +392% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €1,540 | €1,596 | +€56 | +3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,927 | €17,927 | = | 0.0% |
| Other operating charges | 640/8 | €1,529 | €1,394 | -€134 | -8.8% |
| Gross operating margin | 9900 | €130,687 | €144,980 | +€14,293 | +10.9% |
| Operating profit (loss) | 9901 | €109,691 | €124,063 | +€14,372 | +13.1% |
| Financial income | 75/76B | - | €13,000 | +€13,000 | |
| Recurring financial income | 75 | - | €13,000 | +€13,000 | |
| Financial charges | 65/66B | €4,315 | €3,255 | -€1,060 | -24.6% |
| Recurring financial charges | 65 | €4,315 | €3,255 | -€1,060 | -24.6% |
| Profit (loss) for the period before taxes | 9903 | €105,377 | €133,808 | +€28,431 | +27.0% |
| Income taxes | 67/77 | €29,491 | €35,580 | +€6,089 | +20.6% |
| Profit (loss) for the period | 9904 | €75,886 | €98,228 | +€22,342 | +29.4% |
| Profit (loss) for the period to be appropriated | 9905 | €75,886 | €98,228 | +€22,342 | +29.4% |
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 30 October 2026 via checked.be.