VANDEVENNE: 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.
VANDEVENNE
Largest movements
- Cash +€112,795
up €112,795 (+35.3%), from €319,496 to €432,291
mainly Net result for the year (+€165,393) and Trade debts (+€40,122)
- Stocks and contracts +€65,814
up €65,814 (+42.0%), from €156,827 to €222,640
- Tangible fixed assets +€20,735
up €20,735 (+14.2%), from €146,443 to €167,178
of which Other tangible fixed assets: +€38,451
- Reserves +€165,393
up €165,393 (+17.8%), from €927,841 to €1.1m
of which Distributable reserves: +€165,393
- Trade debts +€40,122
up €40,122 (+79.4%), from €50,549 to €90,671
- Other debts -€14,598
down €14,598 (-41.4%), from €35,290 to €20,692
- Gross operating margin +€74,409
up €74,409 (+25.8%), from €287,916 to €362,325
- Taxes +€20,811
up €20,811 (+40.9%), from €50,826 to €71,638
- Staff costs +€12,448
up €12,448 (+13.7%), from €90,870 to €103,318
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 | €1,083,558 | €1,271,295 | +€187,737 | +17.3% |
| Fixed assets | 21/28 | €146,593 | €167,328 | +€20,735 | +14.1% |
| Tangible fixed assets | 22/27 | €146,443 | €167,178 | +€20,735 | +14.2% |
| Land and buildings | 22 | €136,691 | €121,503 | -€15,188 | -11.1% |
| Furniture and vehicles | 24 | €2,529 | €0 | -€2,529 | -100.0% |
| Other tangible fixed assets | 26 | €7,223 | €45,675 | +€38,451 | +532.3% |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €936,965 | €1,103,967 | +€167,002 | +17.8% |
| Amounts receivable after more than one year | 29 | €430,000 | €430,000 | = | 0.0% |
| Other amounts receivable | 291 | €430,000 | €430,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €156,827 | €222,640 | +€65,814 | +42.0% |
| Stocks | 30/36 | €156,827 | €222,640 | +€65,814 | +42.0% |
| Amounts receivable within one year | 40/41 | €29,408 | €17,368 | -€12,041 | -40.9% |
| Trade receivables | 40 | €6,314 | €8,942 | +€2,628 | +41.6% |
| Other amounts receivable | 41 | €23,094 | €8,426 | -€14,668 | -63.5% |
| Cash at bank and in hand | 54/58 | €319,496 | €432,291 | +€112,795 | +35.3% |
| Deferred charges and accrued income | 490/1 | €1,234 | €1,668 | +€434 | +35.2% |
| Total equity and liabilities | 10/49 | €1,083,558 | €1,271,295 | +€187,737 | +17.3% |
| Equity | 10/15 | €934,041 | €1,099,434 | +€165,393 | +17.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €927,841 | €1,093,234 | +€165,393 | +17.8% |
| Tax-exempt reserves | 132 | €4,729 | €4,729 | = | 0.0% |
| Distributable reserves | 133 | €923,112 | €1,088,505 | +€165,393 | +17.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €149,517 | €171,861 | +€22,344 | +14.9% |
| Amounts payable after more than one year | 17 | €34,598 | €26,243 | -€8,355 | -24.1% |
| Financial debts | 170/4 | €34,598 | €26,243 | -€8,355 | -24.1% |
| Amounts payable within one year | 42/48 | €114,919 | €145,068 | +€30,149 | +26.2% |
| Current portion of amounts payable after more than one year | 42 | €9,386 | €9,722 | +€336 | +3.6% |
| Trade debts | 44 | €50,549 | €90,671 | +€40,122 | +79.4% |
| Suppliers | 440/4 | €50,549 | €90,671 | +€40,122 | +79.4% |
| Taxes, remuneration and social security | 45 | €19,694 | €23,983 | +€4,288 | +21.8% |
| Taxes | 450/3 | €9,682 | €11,889 | +€2,206 | +22.8% |
| Remuneration and social security | 454/9 | €10,012 | €12,094 | +€2,082 | +20.8% |
| Other amounts payable | 47/48 | €35,290 | €20,692 | -€14,598 | -41.4% |
| Accrued charges and deferred income | 492/3 | - | €550 | +€550 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €90,870 | €103,318 | +€12,448 | +13.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,523 | €21,280 | +€757 | +3.7% |
| Other operating charges | 640/8 | €4,633 | €3,881 | -€752 | -16.2% |
| Gross operating margin | 9900 | €287,916 | €362,325 | +€74,409 | +25.8% |
| Operating profit (loss) | 9901 | €171,891 | €233,847 | +€61,956 | +36.0% |
| Financial income | 75/76B | €11,620 | €12,035 | +€415 | +3.6% |
| Recurring financial income | 75 | €11,620 | €12,035 | +€415 | +3.6% |
| Financial charges | 65/66B | €9,923 | €8,850 | -€1,072 | -10.8% |
| Recurring financial charges | 65 | €9,923 | €8,850 | -€1,072 | -10.8% |
| Profit (loss) for the period before taxes | 9903 | €173,588 | €237,031 | +€63,443 | +36.5% |
| Income taxes | 67/77 | €50,826 | €71,638 | +€20,811 | +40.9% |
| Profit (loss) for the period | 9904 | €122,761 | €165,393 | +€42,632 | +34.7% |
| Profit (loss) for the period to be appropriated | 9905 | €122,761 | €165,393 | +€42,632 | +34.7% |
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 10 October 2026 via checked.be.