Vanderheyden Alex: what changed
Vanderheyden Alex
Largest movements
- Cash -€16,744
down €16,744 (-60.2%), from €27,826 to €11,082
mainly Receivables within one year (-€10,851) and Net result for the year (-€4,281)
- Receivables within one year +€10,851
up €10,851 (+378%), from €2,869 to €13,720
of which Trade receivables: +€9,945
- Deferred charges and accrued income -€2,303
down €2,303 (-71.7%), from €3,212 to €909
- Stocks and contracts +€1,838
up €1,838 (+22.3%), from €8,256 to €10,094
of which Contracts in progress: +€1,006
- Tangible fixed assets -€1,305
down €1,305 (-47.2%), from €2,763 to €1,458
- Profit (loss) carried forward -€4,125
down €4,125 (-19.7%), from €20,955 to €16,830
- Trade debts -€3,363
down €3,363 (-31.4%), from €10,719 to €7,356
- Gross operating margin -€11,348
down €11,348, from €9,530 to -€1,818
- Depreciation +€153
up €153 (+13.3%), from €1,152 to €1,305
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €44,926 | €37,263 | -€7,662 | -17.1% |
| Fixed assets | 21/28 | €2,763 | €1,458 | -€1,305 | -47.2% |
| Tangible fixed assets | 22/27 | €2,763 | €1,458 | -€1,305 | -47.2% |
| Furniture and vehicles | 24 | €2,763 | €1,458 | -€1,305 | -47.2% |
| Current assets | 29/58 | €42,163 | €35,805 | -€6,358 | -15.1% |
| Stocks and contracts in progress | 3 | €8,256 | €10,094 | +€1,838 | +22.3% |
| Stocks | 30/36 | €3,256 | €4,088 | +€832 | +25.5% |
| Contracts in progress | 37 | €5,000 | €6,006 | +€1,006 | +20.1% |
| Amounts receivable within one year | 40/41 | €2,869 | €13,720 | +€10,851 | +378% |
| Trade receivables | 40 | €2,869 | €12,814 | +€9,945 | +347% |
| Other amounts receivable | 41 | €0 | €906 | +€906 | |
| Cash at bank and in hand | 54/58 | €27,826 | €11,082 | -€16,744 | -60.2% |
| Deferred charges and accrued income | 490/1 | €3,212 | €909 | -€2,303 | -71.7% |
| Total equity and liabilities | 10/49 | €44,926 | €37,263 | -€7,662 | -17.1% |
| Equity | 10/15 | €30,286 | €26,005 | -€4,281 | -14.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €3,131 | €2,975 | -€157 | -5.0% |
| Distributable reserves | 133 | €3,131 | €2,975 | -€157 | -5.0% |
| Profit (loss) carried forward | 14 | €20,955 | €16,830 | -€4,125 | -19.7% |
| Amounts payable | 17/49 | €14,640 | €11,258 | -€3,381 | -23.1% |
| Amounts payable within one year | 42/48 | €14,640 | €11,258 | -€3,381 | -23.1% |
| Trade debts | 44 | €10,719 | €7,356 | -€3,363 | -31.4% |
| Suppliers | 440/4 | €10,719 | €7,356 | -€3,363 | -31.4% |
| Taxes, remuneration and social security | 45 | €2,251 | €2,233 | -€18 | -0.8% |
| Taxes | 450/3 | €75 | €57 | -€18 | -23.7% |
| Remuneration and social security | 454/9 | €2,176 | €2,176 | = | 0.0% |
| Other amounts payable | 47/48 | €1,670 | €1,670 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €0 | €886 | +€886 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,152 | €1,305 | +€153 | +13.3% |
| Other operating charges | 640/8 | €952 | €899 | -€53 | -5.6% |
| Non-recurring operating charges | 66A | €155 | €0 | -€155 | -100% |
| Gross operating margin | 9900 | €9,530 | -€1,818 | -€11,348 | |
| Operating profit (loss) | 9901 | €7,271 | -€4,022 | -€11,293 | |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €170 | €259 | +€89 | +52.6% |
| Recurring financial charges | 65 | €170 | €259 | +€89 | +52.6% |
| Profit (loss) for the period before taxes | 9903 | €7,101 | -€4,281 | -€11,382 | |
| Income taxes | 67/77 | €15 | €0 | -€15 | -100% |
| Profit (loss) for the period | 9904 | €7,085 | -€4,281 | -€11,367 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,085 | -€4,281 | -€11,367 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.