Vanderstuyft Management: what changed
Two financial 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.
Vanderstuyft Management
Largest movements
- Cash -€61,432
down €61,432 (-39.4%), from €155,749 to €94,316
mainly Other debts (-€110,786) and Debts after one year (-€36,785)
- Tangible fixed assets -€15,928
down €15,928 (-3.3%), from €485,758 to €469,830
- Other debts -€110,786
down €110,786 (-71.1%), from €155,783 to €44,996
- Reserves +€65,154
up €65,154 (+32.3%), from €201,579 to €266,733
- Debts after one year -€36,785
down €36,785 (-13.7%), from €267,717 to €230,932
- Tax, wage and social debts +€9,445
up €9,445 (+50.3%), from €18,765 to €28,211
of which Remuneration and social security: +€9,675
- Gross operating margin +€25,257
up €25,257 (+28.8%), from €87,690 to €112,947
- Taxes +€7,034
up €7,034 (+39.4%), from €17,871 to €24,904
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.
Derived cash bridge
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 | €699,927 | €628,894 | -€71,033 | -10.1% |
| Fixed assets | 21/28 | €485,758 | €469,830 | -€15,928 | -3.3% |
| Tangible fixed assets | 22/27 | €485,758 | €469,830 | -€15,928 | -3.3% |
| Land and buildings | 22 | €485,758 | €469,830 | -€15,928 | -3.3% |
| Current assets | 29/58 | €214,170 | €159,065 | -€55,105 | -25.7% |
| Amounts receivable after more than one year | 29 | €33,303 | €34,820 | +€1,517 | +4.6% |
| Other amounts receivable | 291 | €33,303 | €34,820 | +€1,517 | +4.6% |
| Amounts receivable within one year | 40/41 | €21,901 | €26,692 | +€4,790 | +21.9% |
| Trade receivables | 40 | €13,673 | €26,692 | +€13,019 | +95.2% |
| Other amounts receivable | 41 | €8,228 | - | -€8,228 | |
| Cash at bank and in hand | 54/58 | €155,749 | €94,316 | -€61,432 | -39.4% |
| Deferred charges and accrued income | 490/1 | €3,216 | €3,236 | +€20 | +0.6% |
| Total equity and liabilities | 10/49 | €699,927 | €628,894 | -€71,033 | -10.1% |
| Equity | 10/15 | €220,179 | €285,333 | +€65,154 | +29.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €201,579 | €266,733 | +€65,154 | +32.3% |
| Distributable reserves | 133 | €201,579 | €266,733 | +€65,154 | +32.3% |
| Amounts payable | 17/49 | €479,748 | €343,561 | -€136,187 | -28.4% |
| Amounts payable after more than one year | 17 | €267,717 | €230,932 | -€36,785 | -13.7% |
| Financial debts | 170/4 | €267,717 | €230,932 | -€36,785 | -13.7% |
| Amounts payable within one year | 42/48 | €210,943 | €111,929 | -€99,014 | -46.9% |
| Current portion of amounts payable after more than one year | 42 | €36,217 | €36,785 | +€568 | +1.6% |
| Trade debts | 44 | €178 | €1,937 | +€1,759 | +988% |
| Suppliers | 440/4 | €178 | €1,937 | +€1,759 | +988% |
| Taxes, remuneration and social security | 45 | €18,765 | €28,211 | +€9,445 | +50.3% |
| Taxes | 450/3 | €18,765 | €18,536 | -€230 | -1.2% |
| Remuneration and social security | 454/9 | - | €9,675 | +€9,675 | |
| Other amounts payable | 47/48 | €155,783 | €44,996 | -€110,786 | -71.1% |
| Accrued charges and deferred income | 492/3 | €1,087 | €700 | -€387 | -35.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,928 | €15,928 | = | 0.0% |
| Other operating charges | 640/8 | €3,420 | €3,595 | +€175 | +5.1% |
| Gross operating margin | 9900 | €87,690 | €112,947 | +€25,257 | +28.8% |
| Operating profit (loss) | 9901 | €68,342 | €93,424 | +€25,082 | +36.7% |
| Financial income | 75/76B | €1,450 | €1,517 | +€67 | +4.6% |
| Recurring financial income | 75 | €1,450 | €1,517 | +€67 | +4.6% |
| Financial charges | 65/66B | €5,423 | €4,883 | -€540 | -10.0% |
| Recurring financial charges | 65 | €5,423 | €4,883 | -€540 | -10.0% |
| Profit (loss) for the period before taxes | 9903 | €64,369 | €90,058 | +€25,689 | +39.9% |
| Income taxes | 67/77 | €17,871 | €24,904 | +€7,034 | +39.4% |
| Profit (loss) for the period | 9904 | €46,498 | €65,154 | +€18,656 | +40.1% |
| Profit (loss) for the period to be appropriated | 9905 | €46,498 | €65,154 | +€18,656 | +40.1% |
Source: filed annual accounts (NBB), financial 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 October 2026 via checked.be.