VANDERVEE: 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.
VANDERVEE
Largest movements
- Cash +€88,148
up €88,148 (+158.5%), from €55,622 to €143,770
mainly Net result for the year (+€69,223) and Depreciation (+€18,426)
- Reserves +€69,223
up €69,223 (+253.8%), from €27,280 to €96,503
- Tax, wage and social debts +€15,067
up €15,067 (+186.6%), from €8,076 to €23,143
- Gross operating margin +€57,713
up €57,713 (+102.5%), from €56,283 to €113,996
- Taxes +€15,913
up €15,913 (+221.8%), from €7,176 to €23,089
- Depreciation +€3,961
up €3,961 (+27.4%), from €14,465 to €18,426
- Financial charges +€1,316
up €1,316 (+102.5%), from €1,284 to €2,599
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 | €103,127 | €189,998 | +€86,870 | +84.2% |
| Fixed assets | 21/28 | €41,592 | €41,728 | +€136 | +0.3% |
| Tangible fixed assets | 22/27 | €41,592 | €41,728 | +€136 | +0.3% |
| Land and buildings | 22 | €5,224 | €4,654 | -€570 | -10.9% |
| Plant, machinery and equipment | 23 | €3,209 | €1,726 | -€1,483 | -46.2% |
| Furniture and vehicles | 24 | €12,731 | €7,636 | -€5,095 | -40.0% |
| Leasing and similar rights | 25 | €20,428 | €27,712 | +€7,284 | +35.7% |
| Current assets | 29/58 | €61,536 | €148,270 | +€86,734 | +140.9% |
| Stocks and contracts in progress | 3 | €1,466 | €1,214 | -€252 | -17.2% |
| Stocks | 30/36 | €1,466 | €1,214 | -€252 | -17.2% |
| Amounts receivable within one year | 40/41 | €3,692 | €2,446 | -€1,246 | -33.7% |
| Trade receivables | 40 | €1,306 | €636 | -€670 | -51.3% |
| Other amounts receivable | 41 | €2,386 | €1,810 | -€576 | -24.1% |
| Cash at bank and in hand | 54/58 | €55,622 | €143,770 | +€88,148 | +158.5% |
| Deferred charges and accrued income | 490/1 | €755 | €839 | +€83 | +11.0% |
| Total equity and liabilities | 10/49 | €103,127 | €189,998 | +€86,870 | +84.2% |
| Equity | 10/15 | €30,280 | €99,503 | +€69,223 | +228.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €27,280 | €96,503 | +€69,223 | +253.8% |
| Distributable reserves | 133 | €27,280 | €96,503 | +€69,223 | +253.8% |
| Amounts payable | 17/49 | €72,848 | €90,495 | +€17,647 | +24.2% |
| Amounts payable after more than one year | 17 | €20,603 | €20,104 | -€499 | -2.4% |
| Financial debts | 170/4 | €20,603 | €20,104 | -€499 | -2.4% |
| Amounts payable within one year | 42/48 | €52,004 | €68,740 | +€16,736 | +32.2% |
| Current portion of amounts payable after more than one year | 42 | €16,383 | €17,174 | +€790 | +4.8% |
| Trade debts | 44 | €2,167 | €2,168 | +€2 | +0.1% |
| Suppliers | 440/4 | €2,167 | €2,168 | +€2 | +0.1% |
| Taxes, remuneration and social security | 45 | €8,076 | €23,143 | +€15,067 | +186.6% |
| Taxes | 450/3 | €8,076 | €23,143 | +€15,067 | +186.6% |
| Other amounts payable | 47/48 | €25,378 | €26,256 | +€877 | +3.5% |
| Accrued charges and deferred income | 492/3 | €241 | €1,651 | +€1,410 | +586.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,465 | €18,426 | +€3,961 | +27.4% |
| Other operating charges | 640/8 | €1,374 | €955 | -€420 | -30.5% |
| Gross operating margin | 9900 | €56,283 | €113,996 | +€57,713 | +102.5% |
| Operating profit (loss) | 9901 | €40,444 | €94,615 | +€54,172 | +133.9% |
| Financial income | 75/76B | €295 | €295 | +€0 | +0.1% |
| Recurring financial income | 75 | €295 | €295 | +€0 | +0.1% |
| Financial charges | 65/66B | €1,284 | €2,599 | +€1,316 | +102.5% |
| Recurring financial charges | 65 | €1,284 | €2,599 | +€1,316 | +102.5% |
| Profit (loss) for the period before taxes | 9903 | €39,455 | €92,312 | +€52,856 | +134.0% |
| Income taxes | 67/77 | €7,176 | €23,089 | +€15,913 | +221.8% |
| Profit (loss) for the period | 9904 | €32,280 | €69,223 | +€36,943 | +114.4% |
| Profit (loss) for the period to be appropriated | 9905 | €32,280 | €69,223 | +€36,943 | +114.4% |
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 11 October 2026 via checked.be.