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
- Tangible fixed assets -€166,004
down €166,004 (-15.3%), from €1.1m to €920,162
of which Furniture and vehicles: -€152,115
- Receivables within one year -€27,590
down €27,590 (-16.3%), from €169,293 to €141,703
of which Trade receivables: -€40,858
- Debts after one year -€121,478
down €121,478 (-18.4%), from €660,900 to €539,422
- Current portion of long-term debt -€78,934
down €78,934 (-39.4%), from €200,412 to €121,478
- Trade debts -€40,015
down €40,015 (-19.8%), from €201,778 to €161,762
- Profit (loss) carried forward +€34,247
up €34,247 (+58.4%), from -€58,662 to -€24,414
- Gross operating margin -€9,937
down €9,937 (-4.2%), from €238,988 to €229,051
- Depreciation -€4,450
down €4,450 (-2.6%), from €171,713 to €167,263
- Financial charges -€2,818
down €2,818 (-10.4%), from €27,153 to €24,336
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 | €1,337,740 | €1,131,669 | -€206,071 | -15.4% |
| Fixed assets | 21/28 | €1,086,166 | €920,162 | -€166,004 | -15.3% |
| Tangible fixed assets | 22/27 | €1,086,166 | €920,162 | -€166,004 | -15.3% |
| Land and buildings | 22 | €396,591 | €387,841 | -€8,750 | -2.2% |
| Plant, machinery and equipment | 23 | €17,143 | €12,004 | -€5,139 | -30.0% |
| Furniture and vehicles | 24 | €672,433 | €520,318 | -€152,115 | -22.6% |
| Current assets | 29/58 | €251,574 | €211,507 | -€40,067 | -15.9% |
| Stocks and contracts in progress | 3 | €56,803 | €47,301 | -€9,502 | -16.7% |
| Stocks | 30/36 | €56,803 | €47,301 | -€9,502 | -16.7% |
| Amounts receivable within one year | 40/41 | €169,293 | €141,703 | -€27,590 | -16.3% |
| Trade receivables | 40 | €169,000 | €128,142 | -€40,858 | -24.2% |
| Other amounts receivable | 41 | €294 | €13,562 | +€13,268 | +4519.8% |
| Cash at bank and in hand | 54/58 | €18,084 | €15,147 | -€2,937 | -16.2% |
| Deferred charges and accrued income | 490/1 | €7,394 | €7,357 | -€37 | -0.5% |
| Total equity and liabilities | 10/49 | €1,337,740 | €1,131,669 | -€206,071 | -15.4% |
| Equity | 10/15 | €195,545 | €229,792 | +€34,247 | +17.5% |
| Contributions | 10/11 | €253,000 | €253,000 | = | 0.0% |
| Capital | 10 | €253,000 | €253,000 | = | 0.0% |
| Issued capital | 100 | €253,000 | €253,000 | = | 0.0% |
| Reserves | 13 | €1,207 | €1,207 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,207 | €1,207 | = | 0.0% |
| Legal reserve | 130 | €1,207 | €1,207 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€58,662 | -€24,414 | +€34,247 | +58.4% |
| Amounts payable | 17/49 | €1,142,195 | €901,877 | -€240,318 | -21.0% |
| Amounts payable after more than one year | 17 | €660,900 | €539,422 | -€121,478 | -18.4% |
| Financial debts | 170/4 | €660,900 | €539,422 | -€121,478 | -18.4% |
| Amounts payable within one year | 42/48 | €480,368 | €361,769 | -€118,598 | -24.7% |
| Current portion of amounts payable after more than one year | 42 | €200,412 | €121,478 | -€78,934 | -39.4% |
| Financial debts | 43 | €74,955 | €77,982 | +€3,027 | +4.0% |
| Credit institutions | 430/8 | €74,955 | €77,982 | +€3,027 | +4.0% |
| Trade debts | 44 | €201,778 | €161,762 | -€40,015 | -19.8% |
| Suppliers | 440/4 | €201,778 | €161,762 | -€40,015 | -19.8% |
| Taxes, remuneration and social security | 45 | €3,020 | €547 | -€2,474 | -81.9% |
| Taxes | 450/3 | €3,020 | €547 | -€2,474 | -81.9% |
| Other amounts payable | 47/48 | €203 | €0 | -€203 | -100.0% |
| Accrued charges and deferred income | 492/3 | €927 | €685 | -€242 | -26.1% |
| Non-recurring operating income | 76A | - | €6,800 | +€6,800 | |
| Remuneration, social security and pensions | 62 | €401 | €0 | -€401 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €171,713 | €167,263 | -€4,450 | -2.6% |
| Other operating charges | 640/8 | €5,904 | €4,147 | -€1,757 | -29.8% |
| Gross operating margin | 9900 | €238,988 | €229,051 | -€9,937 | -4.2% |
| Operating profit (loss) | 9901 | €60,969 | €57,641 | -€3,329 | -5.5% |
| Financial income | 75/76B | €225 | €1,269 | +€1,044 | +463.7% |
| Recurring financial income | 75 | €225 | €1,269 | +€1,044 | +463.7% |
| Financial charges | 65/66B | €27,153 | €24,336 | -€2,818 | -10.4% |
| Recurring financial charges | 65 | €27,153 | €24,336 | -€2,818 | -10.4% |
| Profit (loss) for the period before taxes | 9903 | €34,041 | €34,574 | +€533 | +1.6% |
| Income taxes | 67/77 | €314 | €327 | +€13 | +4.0% |
| Profit (loss) for the period | 9904 | €33,727 | €34,247 | +€521 | +1.5% |
| Profit (loss) for the period to be appropriated | 9905 | €33,727 | €34,247 | +€521 | +1.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.