VANDERMONST MATHIEU: 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.
VANDERMONST MATHIEU
Largest movements
- Receivables within one year +€86,600
up €86,600 (+243.8%), from €35,521 to €122,122
of which Other amounts receivable: +€86,953
- Cash -€29,222
down €29,222 (-37.1%), from €78,702 to €49,480
mainly Receivables within one year (-€86,600) and Deferred charges and accrued income (-€17,701)
- Deferred charges and accrued income +€17,701
up €17,701 (+900.5%), from €1,966 to €19,666
- Current investments +€10,500
new in 2025: €10,500
- Tangible fixed assets -€9,956
down €9,956 (-3.6%), from €273,424 to €263,469
of which Land and buildings: -€5,846
- Reserves +€80,180
up €80,180 (+52.3%), from €153,242 to €233,422
- Debts after one year -€13,714
down €13,714 (-6.7%), from €205,025 to €191,310
- Gross operating margin -€25,163
down €25,163 (-12.4%), from €202,830 to €177,667
- Taxes -€10,115
down €10,115 (-21.4%), from €47,168 to €37,053
- Staff costs +€6,932
up €6,932 (+21.4%), from €32,374 to €39,306
- Depreciation +€4,324
up €4,324 (+32.4%), from €13,363 to €17,686
- Financial income +€2,969
up €2,969 (+102.7%), from €2,890 to €5,860
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 | €431,813 | €507,437 | +€75,624 | +17.5% |
| Fixed assets | 21/28 | €280,624 | €270,669 | -€9,956 | -3.5% |
| Intangible fixed assets | 21 | €7,200 | €7,200 | = | 0.0% |
| Tangible fixed assets | 22/27 | €273,424 | €263,469 | -€9,956 | -3.6% |
| Land and buildings | 22 | €249,361 | €243,515 | -€5,846 | -2.3% |
| Plant, machinery and equipment | 23 | - | €2,033 | +€2,033 | |
| Furniture and vehicles | 24 | €19,767 | €14,686 | -€5,081 | -25.7% |
| Leasing and similar rights | 25 | €4,297 | €3,235 | -€1,062 | -24.7% |
| Current assets | 29/58 | €151,189 | €236,768 | +€85,579 | +56.6% |
| Amounts receivable after more than one year | 29 | €35,000 | €35,000 | = | 0.0% |
| Other amounts receivable | 291 | €35,000 | €35,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €35,521 | €122,122 | +€86,600 | +243.8% |
| Trade receivables | 40 | €4,411 | €4,058 | -€353 | -8.0% |
| Other amounts receivable | 41 | €31,110 | €118,063 | +€86,953 | +279.5% |
| Current investments | 50/53 | - | €10,500 | +€10,500 | |
| Cash at bank and in hand | 54/58 | €78,702 | €49,480 | -€29,222 | -37.1% |
| Deferred charges and accrued income | 490/1 | €1,966 | €19,666 | +€17,701 | +900.5% |
| Total equity and liabilities | 10/49 | €431,813 | €507,437 | +€75,624 | +17.5% |
| Equity | 10/15 | €153,242 | €233,422 | +€80,180 | +52.3% |
| Reserves | 13 | €153,242 | €233,422 | +€80,180 | +52.3% |
| Distributable reserves | 133 | €153,242 | €233,422 | +€80,180 | +52.3% |
| Amounts payable | 17/49 | €278,571 | €274,015 | -€4,556 | -1.6% |
| Amounts payable after more than one year | 17 | €205,025 | €191,310 | -€13,714 | -6.7% |
| Financial debts | 170/4 | €205,025 | €191,310 | -€13,714 | -6.7% |
| Amounts payable within one year | 42/48 | €73,451 | €80,129 | +€6,679 | +9.1% |
| Current portion of amounts payable after more than one year | 42 | €13,342 | €13,714 | +€373 | +2.8% |
| Trade debts | 44 | €2,954 | €7,735 | +€4,781 | +161.8% |
| Suppliers | 440/4 | €2,954 | €7,735 | +€4,781 | +161.8% |
| Taxes, remuneration and social security | 45 | €57,155 | €58,680 | +€1,525 | +2.7% |
| Taxes | 450/3 | €50,357 | €40,605 | -€9,752 | -19.4% |
| Remuneration and social security | 454/9 | €6,798 | €18,075 | +€11,277 | +165.9% |
| Accrued charges and deferred income | 492/3 | €96 | €2,575 | +€2,479 | +2583.2% |
| Remuneration, social security and pensions | 62 | €32,374 | €39,306 | +€6,932 | +21.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,363 | €17,686 | +€4,324 | +32.4% |
| Other operating charges | 640/8 | €533 | €3,134 | +€2,602 | +488.2% |
| Gross operating margin | 9900 | €202,830 | €177,667 | -€25,163 | -12.4% |
| Operating profit (loss) | 9901 | €156,560 | €117,540 | -€39,020 | -24.9% |
| Financial income | 75/76B | €2,890 | €5,860 | +€2,969 | +102.7% |
| Recurring financial income | 75 | €2,890 | €5,860 | +€2,969 | +102.7% |
| Financial charges | 65/66B | €6,433 | €6,167 | -€266 | -4.1% |
| Recurring financial charges | 65 | €6,433 | €6,167 | -€266 | -4.1% |
| Profit (loss) for the period before taxes | 9903 | €153,017 | €117,233 | -€35,784 | -23.4% |
| Income taxes | 67/77 | €47,168 | €37,053 | -€10,115 | -21.4% |
| Profit (loss) for the period | 9904 | €105,849 | €80,180 | -€25,669 | -24.3% |
| Profit (loss) for the period to be appropriated | 9905 | €105,849 | €80,180 | -€25,669 | -24.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.