VANDERMARLIERE: 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.
VANDERMARLIERE
Largest movements
- Receivables within one year +€30,923
up €30,923 (+12.7%), from €243,450 to €274,373
of which Trade receivables: +€29,405
- Cash -€4,896
down €4,896 (-10.8%), from €45,520 to €40,624
mainly Contributions, distributions and other (-€120,000) and Receivables within one year (-€30,923)
- Reserves +€18,413
up €18,413 (+11.6%), from €158,698 to €177,111
- Other debts +€15,000
up €15,000 (+14.3%), from €105,000 to €120,000
- Accrued charges and deferred income -€4,186
down €4,186 (-99.7%), from €4,200 to €14
- Gross operating margin +€13,760
up €13,760 (+7.6%), from €181,073 to €194,833
- Staff costs -€7,495
down €7,495 (-14.1%), from €53,275 to €45,780
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 | €294,158 | €321,205 | +€27,046 | +9.2% |
| Fixed assets | 21/28 | €3,556 | €3,003 | -€554 | -15.6% |
| Intangible fixed assets | 21 | €474 | €416 | -€58 | -12.3% |
| Tangible fixed assets | 22/27 | €2,907 | €2,412 | -€495 | -17.0% |
| Other tangible fixed assets | 26 | €2,907 | €2,412 | -€495 | -17.0% |
| Financial fixed assets | 28 | €175 | €175 | = | 0.0% |
| Current assets | 29/58 | €290,602 | €318,202 | +€27,600 | +9.5% |
| Amounts receivable within one year | 40/41 | €243,450 | €274,373 | +€30,923 | +12.7% |
| Trade receivables | 40 | €32,833 | €62,238 | +€29,405 | +89.6% |
| Other amounts receivable | 41 | €210,617 | €212,135 | +€1,518 | +0.7% |
| Cash at bank and in hand | 54/58 | €45,520 | €40,624 | -€4,896 | -10.8% |
| Deferred charges and accrued income | 490/1 | €1,632 | €3,205 | +€1,573 | +96.4% |
| Total equity and liabilities | 10/49 | €294,158 | €321,205 | +€27,046 | +9.2% |
| Equity | 10/15 | €166,448 | €184,861 | +€18,413 | +11.1% |
| Contributions | 10/11 | €7,750 | €7,750 | = | 0.0% |
| Reserves | 13 | €158,698 | €177,111 | +€18,413 | +11.6% |
| Distributable reserves | 133 | €158,698 | €177,111 | +€18,413 | +11.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €127,710 | €136,344 | +€8,634 | +6.8% |
| Amounts payable within one year | 42/48 | €123,510 | €136,330 | +€12,820 | +10.4% |
| Financial debts | 43 | €4,375 | €4,402 | +€27 | +0.6% |
| Credit institutions | 430/8 | €4,375 | €0 | -€4,375 | -100% |
| Other loans | 439 | - | €4,402 | +€4,402 | |
| Trade debts | 44 | €3,380 | €970 | -€2,410 | -71.3% |
| Suppliers | 440/4 | €3,380 | €970 | -€2,410 | -71.3% |
| Taxes, remuneration and social security | 45 | €10,755 | €10,957 | +€202 | +1.9% |
| Taxes | 450/3 | €0 | €66 | +€66 | |
| Remuneration and social security | 454/9 | €10,755 | €10,891 | +€136 | +1.3% |
| Other amounts payable | 47/48 | €105,000 | €120,000 | +€15,000 | +14.3% |
| Accrued charges and deferred income | 492/3 | €4,200 | €14 | -€4,186 | -99.7% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €53,275 | €45,780 | -€7,495 | -14.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €554 | €554 | = | 0.0% |
| Other operating charges | 640/8 | €723 | €795 | +€72 | +10.0% |
| Non-recurring operating charges | 66A | - | €3,829 | +€3,829 | |
| Gross operating margin | 9900 | €181,073 | €194,833 | +€13,760 | +7.6% |
| Operating profit (loss) | 9901 | €126,523 | €143,876 | +€17,353 | +13.7% |
| Financial income | 75/76B | €3,711 | €3,185 | -€527 | -14.2% |
| Recurring financial income | 75 | €3,711 | €3,185 | -€527 | -14.2% |
| Financial charges | 65/66B | €1,138 | €1,082 | -€56 | -4.9% |
| Recurring financial charges | 65 | €1,138 | €1,082 | -€56 | -4.9% |
| Profit (loss) for the period before taxes | 9903 | €129,096 | €145,979 | +€16,882 | +13.1% |
| Income taxes | 67/77 | €7,052 | €7,566 | +€514 | +7.3% |
| Profit (loss) for the period | 9904 | €122,044 | €138,413 | +€16,369 | +13.4% |
| Profit (loss) for the period to be appropriated | 9905 | €122,044 | €138,413 | +€16,369 | +13.4% |
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.