VANDERSICKEL: 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.
VANDERSICKEL
Largest movements
- Stocks and contracts -€245,279
down €245,279 (-26.6%), from €920,959 to €675,680
- Cash +€211,059
up €211,059 (+64.3%), from €328,330 to €539,389
mainly Net result for the year (+€247,470) and Stocks and contracts (+€245,279)
- Receivables within one year -€36,443
down €36,443 (-19.1%), from €190,350 to €153,907
of which Trade receivables: -€77,432
- Other debts -€350,971
down €350,971 (-47.2%), from €743,823 to €392,852
- Reserves +€247,470
up €247,470 (+22.2%), from €1.1m to €1.4m
of which Distributable reserves: +€247,470
- Trade debts +€21,184
up €21,184 (+131.1%), from €16,157 to €37,341
- Gross operating margin -€297,196
down €297,196 (-44.3%), from €671,027 to €373,831
- Taxes +€21,537
up €21,537 (+31.9%), from €67,530 to €89,068
- Staff costs -€18,881
down €18,881 (-39.5%), from €47,745 to €28,864
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 | €1,948,000 | €1,874,772 | -€73,229 | -3.8% |
| Fixed assets | 21/28 | €6,569 | €3,200 | -€3,369 | -51.3% |
| Tangible fixed assets | 22/27 | €6,569 | €3,200 | -€3,369 | -51.3% |
| Furniture and vehicles | 24 | €6,569 | €3,200 | -€3,369 | -51.3% |
| Current assets | 29/58 | €1,941,431 | €1,871,572 | -€69,860 | -3.6% |
| Stocks and contracts in progress | 3 | €920,959 | €675,680 | -€245,279 | -26.6% |
| Stocks | 30/36 | €920,959 | €675,680 | -€245,279 | -26.6% |
| Amounts receivable within one year | 40/41 | €190,350 | €153,907 | -€36,443 | -19.1% |
| Trade receivables | 40 | €183,012 | €105,580 | -€77,432 | -42.3% |
| Other amounts receivable | 41 | €7,338 | €48,327 | +€40,989 | +558.6% |
| Current investments | 50/53 | €500,000 | €500,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €328,330 | €539,389 | +€211,059 | +64.3% |
| Deferred charges and accrued income | 490/1 | €1,792 | €2,595 | +€804 | +44.9% |
| Total equity and liabilities | 10/49 | €1,948,000 | €1,874,772 | -€73,229 | -3.8% |
| Equity | 10/15 | €1,178,834 | €1,426,117 | +€247,283 | +21.0% |
| 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 | €1,116,320 | €1,363,790 | +€247,470 | +22.2% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €454 | €454 | = | 0.0% |
| Distributable reserves | 133 | €1,109,666 | €1,357,136 | +€247,470 | +22.3% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Investment grants | 15 | €514 | €327 | -€187 | -36.4% |
| Provisions and deferred taxes | 16 | €265 | €169 | -€96 | -36.4% |
| Deferred taxes | 168 | €265 | €169 | -€96 | -36.4% |
| Amounts payable | 17/49 | €768,902 | €448,486 | -€320,415 | -41.7% |
| Amounts payable within one year | 42/48 | €765,573 | €444,331 | -€321,242 | -42.0% |
| Financial debts | 43 | €0 | €0 | -€0 | -100.0% |
| Credit institutions | 430/8 | €0 | €0 | -€0 | -100.0% |
| Trade debts | 44 | €16,157 | €37,341 | +€21,184 | +131.1% |
| Suppliers | 440/4 | €16,157 | €37,341 | +€21,184 | +131.1% |
| Taxes, remuneration and social security | 45 | €5,594 | €14,139 | +€8,545 | +152.8% |
| Taxes | 450/3 | €103 | €9,697 | +€9,594 | +9317.9% |
| Remuneration and social security | 454/9 | €5,491 | €4,442 | -€1,049 | -19.1% |
| Other amounts payable | 47/48 | €743,823 | €392,852 | -€350,971 | -47.2% |
| Accrued charges and deferred income | 492/3 | €3,329 | €4,155 | +€827 | +24.8% |
| Remuneration, social security and pensions | 62 | €47,745 | €28,864 | -€18,881 | -39.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,570 | €3,369 | -€1,201 | -26.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€174 | -€174 | |
| Other operating charges | 640/8 | €1,218 | €1,451 | +€233 | +19.1% |
| Gross operating margin | 9900 | €671,027 | €373,831 | -€297,196 | -44.3% |
| Operating profit (loss) | 9901 | €617,494 | €340,321 | -€277,173 | -44.9% |
| Financial income | 75/76B | €18,571 | €19,604 | +€1,033 | +5.6% |
| Recurring financial income | 75 | €18,571 | €19,604 | +€1,033 | +5.6% |
| Financial charges | 65/66B | €21,810 | €23,484 | +€1,674 | +7.7% |
| Recurring financial charges | 65 | €21,810 | €23,484 | +€1,674 | +7.7% |
| Profit (loss) for the period before taxes | 9903 | €614,254 | €336,441 | -€277,813 | -45.2% |
| Transfer from deferred taxes | 780 | €96 | €96 | = | 0.0% |
| Income taxes | 67/77 | €67,530 | €89,068 | +€21,537 | +31.9% |
| Profit (loss) for the period | 9904 | €546,821 | €247,470 | -€299,351 | -54.7% |
| Profit (loss) for the period to be appropriated | 9905 | €546,821 | €247,470 | -€299,351 | -54.7% |
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 4 October 2026 via checked.be.