VANDERRAL: 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.
VANDERRAL
Largest movements
- Cash -€8,017
down €8,017 (-40.2%), from €19,937 to €11,920
mainly Investment in fixed assets (net) (-€8,653) and Contributions, distributions and other (-€4,900)
- Tangible fixed assets +€7,351
up €7,351 (+16.0%), from €45,942 to €53,293
of which Plant, machinery and equipment: +€7,351
- Receivables within one year +€1,481
new in 2025: €1,481
- Deferred charges and accrued income -€1,000
down €1,000 (-5.2%), from €19,400 to €18,400
- Other debts +€4,899
up €4,899 (+1198.3%), from €409 to €5,308
- Reserves -€3,484
down €3,484 (-5.6%), from €62,661 to €59,176
- Tax, wage and social debts -€1,975
down €1,975 (-50.8%), from €3,890 to €1,914
- Gross operating margin -€2,925
down €2,925 (-33.7%), from €8,683 to €5,758
- Taxes -€1,112
down €1,112 (-62.7%), from €1,773 to €661
- Depreciation +€185
up €185 (+16.5%), from €1,117 to €1,301
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 | €85,551 | €85,366 | -€185 | -0.2% |
| Fixed assets | 21/28 | €46,214 | €53,566 | +€7,351 | +15.9% |
| Tangible fixed assets | 22/27 | €45,942 | €53,293 | +€7,351 | +16.0% |
| Land and buildings | 22 | €41,832 | €41,832 | = | 0.0% |
| Plant, machinery and equipment | 23 | €4,110 | €11,461 | +€7,351 | +178.9% |
| Financial fixed assets | 28 | €273 | €273 | = | 0.0% |
| Current assets | 29/58 | €39,337 | €31,801 | -€7,536 | -19.2% |
| Amounts receivable within one year | 40/41 | - | €1,481 | +€1,481 | |
| Other amounts receivable | 41 | - | €1,481 | +€1,481 | |
| Cash at bank and in hand | 54/58 | €19,937 | €11,920 | -€8,017 | -40.2% |
| Deferred charges and accrued income | 490/1 | €19,400 | €18,400 | -€1,000 | -5.2% |
| Total equity and liabilities | 10/49 | €85,551 | €85,366 | -€185 | -0.2% |
| Equity | 10/15 | €81,253 | €77,768 | -€3,484 | -4.3% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Outside capital | 11 | €18,592 | €18,592 | = | 0.0% |
| Share premium | 1100/10 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €62,661 | €59,176 | -€3,484 | -5.6% |
| Distributable reserves | 133 | €62,661 | €59,176 | -€3,484 | -5.6% |
| Amounts payable | 17/49 | €4,298 | €7,598 | +€3,300 | +76.8% |
| Amounts payable within one year | 42/48 | €4,298 | €7,598 | +€3,300 | +76.8% |
| Trade debts | 44 | - | €376 | +€376 | |
| Suppliers | 440/4 | - | €376 | +€376 | |
| Taxes, remuneration and social security | 45 | €3,890 | €1,914 | -€1,975 | -50.8% |
| Taxes | 450/3 | €3,890 | €1,914 | -€1,975 | -50.8% |
| Other amounts payable | 47/48 | €409 | €5,308 | +€4,899 | +1198.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,117 | €1,301 | +€185 | +16.5% |
| Other operating charges | 640/8 | €2,308 | €2,381 | +€73 | +3.1% |
| Gross operating margin | 9900 | €8,683 | €5,758 | -€2,925 | -33.7% |
| Operating profit (loss) | 9901 | €5,258 | €2,076 | -€3,182 | -60.5% |
| Profit (loss) for the period before taxes | 9903 | €5,258 | €2,076 | -€3,182 | -60.5% |
| Income taxes | 67/77 | €1,773 | €661 | -€1,112 | -62.7% |
| Profit (loss) for the period | 9904 | €3,485 | €1,416 | -€2,070 | -59.4% |
| Profit (loss) for the period to be appropriated | 9905 | €3,485 | €1,416 | -€2,070 | -59.4% |
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 29 September 2026 via checked.be.