VANDERMEIR: 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.
VANDERMEIR
Largest movements
- Receivables within one year +€142,848
up €142,848 (+1601.9%), from €8,917 to €151,766
of which Trade receivables: +€139,269
- Cash -€107,497
down €107,497 (-40.6%), from €265,094 to €157,597
mainly Receivables within one year (-€142,848) and Investment in fixed assets (net) (-€61,328)
- Stocks and contracts -€70,987
down €70,987 (-78.9%), from €90,022 to €19,035
- Tangible fixed assets +€44,364
up €44,364 (+81.2%), from €54,632 to €98,997
of which Furniture and vehicles: +€23,665
- Reserves +€29,000
up €29,000 (+10.1%), from €288,350 to €317,350
of which Distributable reserves: +€29,000
- Trade debts -€21,795
down €21,795 (-61.0%), from €35,754 to €13,960
- Other debts +€4,651
up €4,651 (+81.1%), from €5,736 to €10,388
- Taxes +€7,537
up €7,537 (+114.7%), from €6,568 to €14,105
- Depreciation +€3,585
up €3,585 (+26.8%), from €13,378 to €16,963
- Other operating charges -€1,222
down €1,222 (-66.9%), from €1,828 to €605
- Gross operating margin -€854
down €854 (-1.4%), from €61,085 to €60,232
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 | €430,293 | €442,632 | +€12,339 | +2.9% |
| Fixed assets | 21/28 | €61,327 | €105,691 | +€44,364 | +72.3% |
| Tangible fixed assets | 22/27 | €54,632 | €98,997 | +€44,364 | +81.2% |
| Plant, machinery and equipment | 23 | €54,632 | €75,332 | +€20,700 | +37.9% |
| Furniture and vehicles | 24 | - | €23,665 | +€23,665 | |
| Financial fixed assets | 28 | €6,695 | €6,695 | = | 0.0% |
| Current assets | 29/58 | €368,966 | €336,941 | -€32,025 | -8.7% |
| Stocks and contracts in progress | 3 | €90,022 | €19,035 | -€70,987 | -78.9% |
| Stocks | 30/36 | €90,022 | €19,035 | -€70,987 | -78.9% |
| Amounts receivable within one year | 40/41 | €8,917 | €151,766 | +€142,848 | +1601.9% |
| Trade receivables | 40 | €8,917 | €148,186 | +€139,269 | +1561.8% |
| Other amounts receivable | 41 | - | €3,580 | +€3,580 | |
| Cash at bank and in hand | 54/58 | €265,094 | €157,597 | -€107,497 | -40.6% |
| Deferred charges and accrued income | 490/1 | €4,933 | €8,544 | +€3,611 | +73.2% |
| Total equity and liabilities | 10/49 | €430,293 | €442,632 | +€12,339 | +2.9% |
| Equity | 10/15 | €370,233 | €400,019 | +€29,786 | +8.0% |
| Contributions | 10/11 | €65,000 | €65,000 | = | 0.0% |
| Capital | 10 | €65,000 | €65,000 | = | 0.0% |
| Issued capital | 100 | €65,000 | €65,000 | = | 0.0% |
| Reserves | 13 | €288,350 | €317,350 | +€29,000 | +10.1% |
| Non-distributable reserves | 130/1 | €7,000 | €7,000 | = | 0.0% |
| Legal reserve | 130 | €7,000 | €7,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,850 | €2,850 | = | 0.0% |
| Distributable reserves | 133 | €278,500 | €307,500 | +€29,000 | +10.4% |
| Profit (loss) carried forward | 14 | €16,883 | €17,669 | +€786 | +4.7% |
| Amounts payable | 17/49 | €60,060 | €42,613 | -€17,447 | -29.0% |
| Amounts payable within one year | 42/48 | €60,060 | €42,613 | -€17,447 | -29.0% |
| Trade debts | 44 | €35,754 | €13,960 | -€21,795 | -61.0% |
| Suppliers | 440/4 | €35,754 | €13,960 | -€21,795 | -61.0% |
| Taxes, remuneration and social security | 45 | €18,570 | €18,266 | -€304 | -1.6% |
| Taxes | 450/3 | €18,570 | €10,266 | -€8,304 | -44.7% |
| Remuneration and social security | 454/9 | - | €8,000 | +€8,000 | |
| Other amounts payable | 47/48 | €5,736 | €10,388 | +€4,651 | +81.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,378 | €16,963 | +€3,585 | +26.8% |
| Other operating charges | 640/8 | €1,828 | €605 | -€1,222 | -66.9% |
| Gross operating margin | 9900 | €61,085 | €60,232 | -€854 | -1.4% |
| Operating profit (loss) | 9901 | €45,880 | €42,664 | -€3,216 | -7.0% |
| Financial income | 75/76B | €944 | €1,306 | +€362 | +38.4% |
| Recurring financial income | 75 | €944 | €1,306 | +€362 | +38.4% |
| Financial charges | 65/66B | €68 | €77 | +€10 | +14.6% |
| Recurring financial charges | 65 | €68 | €77 | +€10 | +14.6% |
| Profit (loss) for the period before taxes | 9903 | €46,756 | €43,892 | -€2,864 | -6.1% |
| Income taxes | 67/77 | €6,568 | €14,105 | +€7,537 | +114.7% |
| Profit (loss) for the period | 9904 | €40,187 | €29,786 | -€10,401 | -25.9% |
| Profit (loss) for the period to be appropriated | 9905 | €40,187 | €29,786 | -€10,401 | -25.9% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.