Vandeveldeuro: 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.
Vandeveldeuro
Largest movements
- Cash -€172,531
down €172,531 (-69.9%), from €246,730 to €74,199
mainly Contributions, distributions and other (-€180,000) and Other debts (-€70,376)
- Intangible fixed assets -€99,000
down €99,000 (-33.3%), from €297,000 to €198,000
- Receivables within one year +€15,455
up €15,455 (+57.8%), from €26,729 to €42,183
of which Other amounts receivable: +€15,123
- Financial fixed assets +€10,000
new in 2025: €10,000
- Deferred charges and accrued income +€7,272
up €7,272 (+77.6%), from €9,375 to €16,647
- Reserves -€135,443
down €135,443 (-57.9%), from €234,112 to €98,668
- Other debts -€70,376
down €70,376 (-39.6%), from €177,649 to €107,273
- Debts after one year -€34,152
down €34,152 (-35.9%), from €95,262 to €61,110
- Current portion of long-term debt -€8,568
down €8,568 (-20.1%), from €42,720 to €34,152
- Gross operating margin -€57,410
down €57,410 (-23.5%), from €244,549 to €187,139
- Taxes -€12,373
down €12,373 (-45.7%), from €27,093 to €14,721
- Financial charges +€4,012
up €4,012 (+24.8%), from €16,206 to €20,218
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 | €610,733 | €365,119 | -€245,615 | -40.2% |
| Fixed assets | 21/28 | €327,899 | €232,088 | -€95,810 | -29.2% |
| Intangible fixed assets | 21 | €297,000 | €198,000 | -€99,000 | -33.3% |
| Tangible fixed assets | 22/27 | €30,899 | €24,088 | -€6,810 | -22.0% |
| Plant, machinery and equipment | 23 | €1,291 | €453 | -€838 | -64.9% |
| Furniture and vehicles | 24 | €13,802 | €10,128 | -€3,675 | -26.6% |
| Other tangible fixed assets | 26 | €15,806 | €13,508 | -€2,298 | -14.5% |
| Financial fixed assets | 28 | - | €10,000 | +€10,000 | |
| Current assets | 29/58 | €282,835 | €133,030 | -€149,805 | -53.0% |
| Amounts receivable within one year | 40/41 | €26,729 | €42,183 | +€15,455 | +57.8% |
| Trade receivables | 40 | €23,822 | €24,154 | +€332 | +1.4% |
| Other amounts receivable | 41 | €2,907 | €18,029 | +€15,123 | +520% |
| Cash at bank and in hand | 54/58 | €246,730 | €74,199 | -€172,531 | -69.9% |
| Deferred charges and accrued income | 490/1 | €9,375 | €16,647 | +€7,272 | +77.6% |
| Total equity and liabilities | 10/49 | €610,733 | €365,119 | -€245,615 | -40.2% |
| Equity | 10/15 | €252,712 | €117,268 | -€135,443 | -53.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €234,112 | €98,668 | -€135,443 | -57.9% |
| Distributable reserves | 133 | €234,112 | €98,668 | -€135,443 | -57.9% |
| Amounts payable | 17/49 | €358,022 | €247,850 | -€110,172 | -30.8% |
| Amounts payable after more than one year | 17 | €95,262 | €61,110 | -€34,152 | -35.9% |
| Financial debts | 170/4 | €95,262 | €61,110 | -€34,152 | -35.9% |
| Amounts payable within one year | 42/48 | €250,064 | €168,884 | -€81,180 | -32.5% |
| Current portion of amounts payable after more than one year | 42 | €42,720 | €34,152 | -€8,568 | -20.1% |
| Trade debts | 44 | €24,389 | €24,459 | +€70 | +0.3% |
| Suppliers | 440/4 | €24,389 | €24,459 | +€70 | +0.3% |
| Taxes, remuneration and social security | 45 | €5,307 | €3,000 | -€2,307 | -43.5% |
| Taxes | 450/3 | €5,307 | €3,000 | -€2,307 | -43.5% |
| Other amounts payable | 47/48 | €177,649 | €107,273 | -€70,376 | -39.6% |
| Accrued charges and deferred income | 492/3 | €12,695 | €17,856 | +€5,160 | +40.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €104,774 | €105,810 | +€1,037 | +1.0% |
| Other operating charges | 640/8 | €1,332 | €1,965 | +€633 | +47.6% |
| Gross operating margin | 9900 | €244,549 | €187,139 | -€57,410 | -23.5% |
| Operating profit (loss) | 9901 | €138,444 | €79,363 | -€59,080 | -42.7% |
| Financial income | 75/76B | - | €132 | +€132 | |
| Recurring financial income | 75 | - | €132 | +€132 | |
| Financial charges | 65/66B | €16,206 | €20,218 | +€4,012 | +24.8% |
| Recurring financial charges | 65 | €16,206 | €20,218 | +€4,012 | +24.8% |
| Profit (loss) for the period before taxes | 9903 | €122,238 | €59,277 | -€62,961 | -51.5% |
| Income taxes | 67/77 | €27,093 | €14,721 | -€12,373 | -45.7% |
| Profit (loss) for the period | 9904 | €95,144 | €44,557 | -€50,588 | -53.2% |
| Profit (loss) for the period to be appropriated | 9905 | €95,144 | €44,557 | -€50,588 | -53.2% |
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 31 October 2026 via checked.be.