Vandersanden: 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.
Vandersanden
Largest movements
- Stocks and contracts +€90,244
up €90,244 (+13.2%), from €684,418 to €774,662
- Cash -€68,754
down €68,754 (-39.0%), from €176,102 to €107,348
mainly Current portion of long-term debt (-€156,446) and Other debts (-€108,806)
- Current portion of long-term debt -€156,446
down €156,446 (-45.2%), from €346,060 to €189,614
- Other debts -€108,806
down €108,806 (-16.7%), from €650,909 to €542,103
- Profit (loss) carried forward +€104,905
up €104,905 (+26.5%), from €395,513 to €500,418
- Debts after one year +€104,637
up €104,637 (+34.1%), from €306,987 to €411,624
of which Financial debts: +€108,037
- Trade debts +€93,142
up €93,142 (+978.8%), from €9,516 to €102,658
- Gross operating margin -€124,742
down €124,742 (-20.2%), from €616,437 to €491,695
- Staff costs +€39,514
up €39,514 (+24.2%), from €163,508 to €203,022
- Financial income -€21,967
down €21,967 (-89.4%), from €24,575 to €2,608
- Financial charges +€11,963
up €11,963 (+36.3%), from €32,917 to €44,879
- Taxes +€10,944
up €10,944 (+42.0%), from €26,050 to €36,994
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 | €2,066,114 | €2,077,460 | +€11,345 | +0.5% |
| Fixed assets | 21/28 | €769,266 | €774,045 | +€4,779 | +0.6% |
| Tangible fixed assets | 22/27 | €768,871 | €773,650 | +€4,779 | +0.6% |
| Land and buildings | 22 | €641,989 | €637,827 | -€4,162 | -0.6% |
| Plant, machinery and equipment | 23 | €21,228 | €72,412 | +€51,183 | +241.1% |
| Furniture and vehicles | 24 | €19,751 | €7,657 | -€12,094 | -61.2% |
| Leasing and similar rights | 25 | €85,903 | €55,754 | -€30,149 | -35.1% |
| Financial fixed assets | 28 | €396 | €396 | = | 0.0% |
| Current assets | 29/58 | €1,296,848 | €1,303,414 | +€6,567 | +0.5% |
| Stocks and contracts in progress | 3 | €684,418 | €774,662 | +€90,244 | +13.2% |
| Stocks | 30/36 | €684,418 | €774,662 | +€90,244 | +13.2% |
| Amounts receivable within one year | 40/41 | €435,894 | €416,725 | -€19,169 | -4.4% |
| Trade receivables | 40 | €367,005 | €271,743 | -€95,262 | -26.0% |
| Other amounts receivable | 41 | €68,890 | €144,983 | +€76,093 | +110.5% |
| Cash at bank and in hand | 54/58 | €176,102 | €107,348 | -€68,754 | -39.0% |
| Deferred charges and accrued income | 490/1 | €434 | €4,679 | +€4,245 | +978.8% |
| Total equity and liabilities | 10/49 | €2,066,114 | €2,077,460 | +€11,345 | +0.5% |
| Equity | 10/15 | €599,171 | €697,281 | +€98,110 | +16.4% |
| 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 | €138,658 | €131,864 | -€6,794 | -4.9% |
| Non-distributable reserves | 130/1 | €6,500 | €6,500 | = | 0.0% |
| Legal reserve | 130 | €6,500 | €6,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €13,589 | €6,794 | -€6,794 | -50.0% |
| Distributable reserves | 133 | €118,570 | €118,570 | = | 0.0% |
| Profit (loss) carried forward | 14 | €395,513 | €500,418 | +€104,905 | +26.5% |
| Provisions and deferred taxes | 16 | €4,530 | €2,265 | -€2,265 | -50.0% |
| Deferred taxes | 168 | €4,530 | €2,265 | -€2,265 | -50.0% |
| Amounts payable | 17/49 | €1,462,413 | €1,377,913 | -€84,500 | -5.8% |
| Amounts payable after more than one year | 17 | €306,987 | €411,624 | +€104,637 | +34.1% |
| Financial debts | 170/4 | €303,587 | €411,624 | +€108,037 | +35.6% |
| Other amounts payable | 178/9 | €3,400 | - | -€3,400 | |
| Amounts payable within one year | 42/48 | €1,155,426 | €966,289 | -€189,137 | -16.4% |
| Current portion of amounts payable after more than one year | 42 | €346,060 | €189,614 | -€156,446 | -45.2% |
| Trade debts | 44 | €9,516 | €102,658 | +€93,142 | +978.8% |
| Suppliers | 440/4 | €9,516 | €102,658 | +€93,142 | +978.8% |
| Taxes, remuneration and social security | 45 | €148,941 | €131,915 | -€17,027 | -11.4% |
| Taxes | 450/3 | €128,037 | €110,487 | -€17,550 | -13.7% |
| Remuneration and social security | 454/9 | €20,904 | €21,428 | +€524 | +2.5% |
| Other amounts payable | 47/48 | €650,909 | €542,103 | -€108,806 | -16.7% |
| Remuneration, social security and pensions | 62 | €163,508 | €203,022 | +€39,514 | +24.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €95,818 | €98,718 | +€2,900 | +3.0% |
| Other operating charges | 640/8 | €14,281 | €14,845 | +€563 | +3.9% |
| Gross operating margin | 9900 | €616,437 | €491,695 | -€124,742 | -20.2% |
| Operating profit (loss) | 9901 | €342,830 | €175,110 | -€167,719 | -48.9% |
| Financial income | 75/76B | €24,575 | €2,608 | -€21,967 | -89.4% |
| Recurring financial income | 75 | €24,575 | €2,608 | -€21,967 | -89.4% |
| Financial charges | 65/66B | €32,917 | €44,879 | +€11,963 | +36.3% |
| Recurring financial charges | 65 | €32,917 | €44,879 | +€11,963 | +36.3% |
| Profit (loss) for the period before taxes | 9903 | €334,488 | €132,839 | -€201,649 | -60.3% |
| Transfer from deferred taxes | 780 | €2,265 | €2,265 | = | 0.0% |
| Income taxes | 67/77 | €26,050 | €36,994 | +€10,944 | +42.0% |
| Profit (loss) for the period | 9904 | €310,703 | €98,110 | -€212,593 | -68.4% |
| Transfer from tax-exempt reserves | 789 | €6,794 | €6,794 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €317,497 | €104,905 | -€212,593 | -67.0% |
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 4 October 2026 via checked.be.