VANDERSMISSEN: 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.
VANDERSMISSEN
Largest movements
- Cash -€10,543
down €10,543 (-33.0%), from €31,958 to €21,415
mainly Other debts (-€15,782) and Tax, wage and social debts (-€5,423)
- Intangible fixed assets -€4,000
down €4,000 (-33.3%), from €12,000 to €8,000
- Stocks and contracts -€3,896
down €3,896 (-8.2%), from €47,493 to €43,596
- Tangible fixed assets -€2,045
down €2,045 (-20.3%), from €10,099 to €8,054
of which Land and buildings: -€1,292
- Receivables within one year -€1,599
down €1,599 (-4.9%), from €32,793 to €31,194
of which Trade receivables: -€2,518
- Other debts -€15,782
down €15,782 (-39.9%), from €39,519 to €23,737
- Tax, wage and social debts -€5,423
down €5,423 (-37.7%), from €14,373 to €8,950
of which Taxes: -€5,993
- Reserves +€1,878
up €1,878 (+2.8%), from €67,316 to €69,193
- Accrued charges and deferred income -€1,703
down €1,703 (-74.0%), from €2,300 to €597
- Gross operating margin -€5,048
down €5,048 (-28.1%), from €17,973 to €12,925
- Write-downs +€2,876
new in 2025: €2,876
- Taxes -€1,531
down €1,531 (-51.6%), from €2,965 to €1,434
- Other operating charges -€492
down €492 (-51.8%), from €950 to €458
- Depreciation -€444
down €444 (-6.8%), from €6,489 to €6,045
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 | €138,880 | €116,822 | -€22,058 | -15.9% |
| Fixed assets | 21/28 | €22,099 | €16,054 | -€6,045 | -27.4% |
| Intangible fixed assets | 21 | €12,000 | €8,000 | -€4,000 | -33.3% |
| Tangible fixed assets | 22/27 | €10,099 | €8,054 | -€2,045 | -20.3% |
| Land and buildings | 22 | €7,027 | €5,735 | -€1,292 | -18.4% |
| Plant, machinery and equipment | 23 | €3,072 | €2,318 | -€753 | -24.5% |
| Current assets | 29/58 | €116,781 | €100,768 | -€16,013 | -13.7% |
| Amounts receivable after more than one year | 29 | €1,640 | €1,640 | = | 0.0% |
| Other amounts receivable | 291 | €1,640 | €1,640 | = | 0.0% |
| Stocks and contracts in progress | 3 | €47,493 | €43,596 | -€3,896 | -8.2% |
| Stocks | 30/36 | €47,493 | €43,596 | -€3,896 | -8.2% |
| Amounts receivable within one year | 40/41 | €32,793 | €31,194 | -€1,599 | -4.9% |
| Trade receivables | 40 | €32,793 | €30,275 | -€2,518 | -7.7% |
| Other amounts receivable | 41 | - | €920 | +€920 | |
| Cash at bank and in hand | 54/58 | €31,958 | €21,415 | -€10,543 | -33.0% |
| Deferred charges and accrued income | 490/1 | €2,898 | €2,923 | +€25 | +0.8% |
| Total equity and liabilities | 10/49 | €138,880 | €116,822 | -€22,058 | -15.9% |
| Equity | 10/15 | €79,716 | €81,593 | +€1,878 | +2.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €67,316 | €69,193 | +€1,878 | +2.8% |
| Distributable reserves | 133 | €67,316 | €69,193 | +€1,878 | +2.8% |
| Amounts payable | 17/49 | €59,164 | €35,228 | -€23,936 | -40.5% |
| Amounts payable within one year | 42/48 | €56,864 | €34,631 | -€22,233 | -39.1% |
| Trade debts | 44 | €2,972 | €1,944 | -€1,028 | -34.6% |
| Suppliers | 440/4 | €2,972 | €1,944 | -€1,028 | -34.6% |
| Taxes, remuneration and social security | 45 | €14,373 | €8,950 | -€5,423 | -37.7% |
| Taxes | 450/3 | €10,918 | €4,925 | -€5,993 | -54.9% |
| Remuneration and social security | 454/9 | €3,455 | €4,025 | +€570 | +16.5% |
| Other amounts payable | 47/48 | €39,519 | €23,737 | -€15,782 | -39.9% |
| Accrued charges and deferred income | 492/3 | €2,300 | €597 | -€1,703 | -74.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,489 | €6,045 | -€444 | -6.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €2,876 | +€2,876 | |
| Other operating charges | 640/8 | €950 | €458 | -€492 | -51.8% |
| Gross operating margin | 9900 | €17,973 | €12,925 | -€5,048 | -28.1% |
| Operating profit (loss) | 9901 | €10,534 | €3,546 | -€6,988 | -66.3% |
| Financial charges | 65/66B | €143 | €235 | +€92 | +63.8% |
| Recurring financial charges | 65 | €143 | €235 | +€92 | +63.8% |
| Profit (loss) for the period before taxes | 9903 | €10,390 | €3,311 | -€7,079 | -68.1% |
| Income taxes | 67/77 | €2,965 | €1,434 | -€1,531 | -51.6% |
| Profit (loss) for the period | 9904 | €7,426 | €1,878 | -€5,548 | -74.7% |
| Profit (loss) for the period to be appropriated | 9905 | €7,426 | €1,878 | -€5,548 | -74.7% |
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 5 October 2026 via checked.be.