VANDERIC: 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.
VANDERIC
Largest movements
- Receivables within one year +€116,456
up €116,456 (+39.7%), from €293,563 to €410,019
of which Other amounts receivable: +€74,217
- Cash -€88,903
down €88,903 (-90.2%), from €98,590 to €9,687
mainly Contributions, distributions and other (-€315,000) and Receivables within one year (-€116,456)
- Tangible fixed assets +€48,670
up €48,670 (+11.6%), from €418,029 to €466,700
of which Other tangible fixed assets: +€63,839
- Other debts +€272,538
up €272,538 (+3299.9%), from €8,259 to €280,797
- Reserves -€195,515
down €195,515 (-56.6%), from €345,579 to €150,063
- Gross operating margin +€60,785
up €60,785 (+45.9%), from €132,410 to €193,195
- Taxes +€13,340
up €13,340 (+68.6%), from €19,436 to €32,776
- Financial income +€3,842
up €3,842 (+183.1%), from €2,098 to €5,940
- Depreciation +€2,245
up €2,245 (+14.0%), from €16,022 to €18,267
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 | €813,743 | €895,906 | +€82,163 | +10.1% |
| Fixed assets | 21/28 | €418,059 | €466,730 | +€48,670 | +11.6% |
| Tangible fixed assets | 22/27 | €418,029 | €466,700 | +€48,670 | +11.6% |
| Furniture and vehicles | 24 | €1,287 | €0 | -€1,287 | -100.0% |
| Leasing and similar rights | 25 | €416,742 | €402,860 | -€13,882 | -3.3% |
| Other tangible fixed assets | 26 | - | €63,839 | +€63,839 | |
| Financial fixed assets | 28 | €30 | €30 | = | 0.0% |
| Current assets | 29/58 | €395,684 | €429,176 | +€33,492 | +8.5% |
| Amounts receivable within one year | 40/41 | €293,563 | €410,019 | +€116,456 | +39.7% |
| Trade receivables | 40 | €175,530 | €217,769 | +€42,239 | +24.1% |
| Other amounts receivable | 41 | €118,034 | €192,250 | +€74,217 | +62.9% |
| Cash at bank and in hand | 54/58 | €98,590 | €9,687 | -€88,903 | -90.2% |
| Deferred charges and accrued income | 490/1 | €3,530 | €9,469 | +€5,939 | +168.2% |
| Total equity and liabilities | 10/49 | €813,743 | €895,906 | +€82,163 | +10.1% |
| Equity | 10/15 | €345,679 | €150,163 | -€195,515 | -56.6% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €345,579 | €150,063 | -€195,515 | -56.6% |
| Distributable reserves | 133 | €345,579 | €150,063 | -€195,515 | -56.6% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €468,064 | €745,743 | +€277,678 | +59.3% |
| Amounts payable after more than one year | 17 | €403,987 | €407,734 | +€3,746 | +0.9% |
| Financial debts | 170/4 | €403,987 | €407,734 | +€3,746 | +0.9% |
| Amounts payable within one year | 42/48 | €63,843 | €338,009 | +€274,166 | +429.4% |
| Current portion of amounts payable after more than one year | 42 | €15,232 | €17,383 | +€2,151 | +14.1% |
| Trade debts | 44 | €8,462 | €3,735 | -€4,728 | -55.9% |
| Suppliers | 440/4 | €8,462 | €3,735 | -€4,728 | -55.9% |
| Taxes, remuneration and social security | 45 | €31,890 | €36,094 | +€4,204 | +13.2% |
| Taxes | 450/3 | €31,890 | €36,094 | +€4,204 | +13.2% |
| Other amounts payable | 47/48 | €8,259 | €280,797 | +€272,538 | +3299.9% |
| Accrued charges and deferred income | 492/3 | €234 | €0 | -€234 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,022 | €18,267 | +€2,245 | +14.0% |
| Other operating charges | 640/8 | €1,017 | €2,156 | +€1,138 | +111.9% |
| Gross operating margin | 9900 | €132,410 | €193,195 | +€60,785 | +45.9% |
| Operating profit (loss) | 9901 | €115,370 | €172,772 | +€57,401 | +49.8% |
| Financial income | 75/76B | €2,098 | €5,940 | +€3,842 | +183.1% |
| Recurring financial income | 75 | €2,098 | €5,940 | +€3,842 | +183.1% |
| Financial charges | 65/66B | €26,647 | €26,451 | -€196 | -0.7% |
| Recurring financial charges | 65 | €26,647 | €26,451 | -€196 | -0.7% |
| Profit (loss) for the period before taxes | 9903 | €90,822 | €152,261 | +€61,439 | +67.6% |
| Income taxes | 67/77 | €19,436 | €32,776 | +€13,340 | +68.6% |
| Profit (loss) for the period | 9904 | €71,385 | €119,485 | +€48,099 | +67.4% |
| Profit (loss) for the period to be appropriated | 9905 | €71,385 | €119,485 | +€48,099 | +67.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.