VANDEROSTYNE: 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.
VANDEROSTYNE
Largest movements
- Receivables within one year -€49,350
down €49,350 (-10.0%), from €491,977 to €442,627
of which Trade receivables: -€51,444
- Tangible fixed assets -€41,058
down €41,058 (-24.3%), from €168,839 to €127,781
of which Leasing and similar rights: -€28,500
- Receivables after one year +€25,800
up €25,800 (+48.7%), from €52,980 to €78,780
- Cash +€20,706
up €20,706 (+30.7%), from €67,529 to €88,235
mainly Receivables within one year (+€49,350) and Net result for the year (+€41,509)
- Reserves +€40,909
up €40,909 (+26.9%), from €151,861 to €192,770
of which Distributable reserves: +€40,909
- Debts after one year -€36,894
down €36,894 (-27.5%), from €134,393 to €97,499
- Other debts -€19,837
no longer reported in 2025 (was €19,837)
- Trade debts -€13,293
down €13,293 (-10.1%), from €131,310 to €118,017
- Current portion of long-term debt -€9,662
down €9,662 (-20.8%), from €46,560 to €36,898
- Depreciation +€14,343
up €14,343 (+53.7%), from €26,716 to €41,058
- Staff costs +€6,531
up €6,531 (+4.5%), from €144,196 to €150,727
- Financial income +€4,785
up €4,785 (+230.6%), from €2,075 to €6,861
- Taxes -€2,880
down €2,880 (-12.1%), from €23,876 to €20,996
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 | €790,953 | €749,689 | -€41,265 | -5.2% |
| Fixed assets | 21/28 | €168,839 | €127,781 | -€41,058 | -24.3% |
| Tangible fixed assets | 22/27 | €168,839 | €127,781 | -€41,058 | -24.3% |
| Furniture and vehicles | 24 | €40,589 | €28,031 | -€12,558 | -30.9% |
| Leasing and similar rights | 25 | €128,250 | €99,750 | -€28,500 | -22.2% |
| Current assets | 29/58 | €622,114 | €621,908 | -€206 | 0.0% |
| Amounts receivable after more than one year | 29 | €52,980 | €78,780 | +€25,800 | +48.7% |
| Other amounts receivable | 291 | €52,980 | €78,780 | +€25,800 | +48.7% |
| Stocks and contracts in progress | 3 | €899 | €1,181 | +€282 | +31.4% |
| Stocks | 30/36 | €899 | €1,181 | +€282 | +31.4% |
| Amounts receivable within one year | 40/41 | €491,977 | €442,627 | -€49,350 | -10.0% |
| Trade receivables | 40 | €489,620 | €438,176 | -€51,444 | -10.5% |
| Other amounts receivable | 41 | €2,357 | €4,450 | +€2,094 | +88.8% |
| Cash at bank and in hand | 54/58 | €67,529 | €88,235 | +€20,706 | +30.7% |
| Deferred charges and accrued income | 490/1 | €8,729 | €11,084 | +€2,355 | +27.0% |
| Total equity and liabilities | 10/49 | €790,953 | €749,689 | -€41,265 | -5.2% |
| Equity | 10/15 | €326,690 | €368,199 | +€41,509 | +12.7% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €151,861 | €192,770 | +€40,909 | +26.9% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €145,661 | €186,570 | +€40,909 | +28.1% |
| Profit (loss) carried forward | 14 | €112,829 | €113,429 | +€600 | +0.5% |
| Amounts payable | 17/49 | €464,263 | €381,490 | -€82,773 | -17.8% |
| Amounts payable after more than one year | 17 | €134,393 | €97,499 | -€36,894 | -27.5% |
| Financial debts | 170/4 | €134,393 | €97,499 | -€36,894 | -27.5% |
| Amounts payable within one year | 42/48 | €326,594 | €281,655 | -€44,939 | -13.8% |
| Current portion of amounts payable after more than one year | 42 | €46,560 | €36,898 | -€9,662 | -20.8% |
| Financial debts | 43 | €87,500 | €87,500 | = | 0.0% |
| Credit institutions | 430/8 | €87,500 | €87,500 | = | 0.0% |
| Trade debts | 44 | €131,310 | €118,017 | -€13,293 | -10.1% |
| Suppliers | 440/4 | €131,310 | €118,017 | -€13,293 | -10.1% |
| Taxes, remuneration and social security | 45 | €41,387 | €39,241 | -€2,146 | -5.2% |
| Taxes | 450/3 | €24,000 | €21,000 | -€3,000 | -12.5% |
| Remuneration and social security | 454/9 | €17,387 | €18,241 | +€854 | +4.9% |
| Other amounts payable | 47/48 | €19,837 | - | -€19,837 | |
| Accrued charges and deferred income | 492/3 | €3,277 | €2,336 | -€940 | -28.7% |
| Non-recurring operating income | 76A | €11,500 | - | -€11,500 | |
| Remuneration, social security and pensions | 62 | €144,196 | €150,727 | +€6,531 | +4.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,716 | €41,058 | +€14,343 | +53.7% |
| Other operating charges | 640/8 | €717 | €271 | -€446 | -62.2% |
| Gross operating margin | 9900 | €259,388 | €260,919 | +€1,531 | +0.6% |
| Operating profit (loss) | 9901 | €87,760 | €68,863 | -€18,896 | -21.5% |
| Financial income | 75/76B | €2,075 | €6,861 | +€4,785 | +230.6% |
| Recurring financial income | 75 | €2,075 | €6,861 | +€4,785 | +230.6% |
| Financial charges | 65/66B | €12,106 | €13,219 | +€1,113 | +9.2% |
| Recurring financial charges | 65 | €12,106 | €13,219 | +€1,113 | +9.2% |
| Profit (loss) for the period before taxes | 9903 | €77,729 | €62,505 | -€15,224 | -19.6% |
| Income taxes | 67/77 | €23,876 | €20,996 | -€2,880 | -12.1% |
| Profit (loss) for the period | 9904 | €53,853 | €41,509 | -€12,344 | -22.9% |
| Profit (loss) for the period to be appropriated | 9905 | €53,853 | €41,509 | -€12,344 | -22.9% |
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 6 October 2026 via checked.be.