VANDEWAERDE: 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.
VANDEWAERDE
Largest movements
- Deferred charges and accrued income -€7,553
down €7,553 (-73.7%), from €10,251 to €2,698
- Receivables within one year +€5,557
up €5,557 (+12.7%), from €43,784 to €49,341
of which Trade receivables: +€8,648
- Cash +€2,204
up €2,204 (+4.9%), from €44,677 to €46,881
mainly Deferred charges and accrued income (+€7,553) and Stocks and contracts (+€1,750)
- Stocks and contracts -€1,750
down €1,750 (-17.4%), from €10,060 to €8,310
- Trade debts -€1,741
down €1,741 (-4.7%), from €36,811 to €35,070
- Purchases and services -€14,514
down €14,514 (-46.0%), from €31,529 to €17,015
- Turnover -€12,695
down €12,695 (-35.8%), from €35,485 to €22,790
- Gross operating margin +€1,819
up €1,819 (+46.0%), from €3,956 to €5,775
- Financial charges +€1,433
up €1,433 (+101.6%), from €1,411 to €2,844
of which Non-recurring financial charges: +€1,548
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 | €120,871 | €119,340 | -€1,531 | -1.3% |
| Fixed assets | 21/28 | €12,099 | €12,110 | +€11 | +0.1% |
| Tangible fixed assets | 22/27 | €3,785 | €3,796 | +€11 | +0.3% |
| Plant, machinery and equipment | 23 | €674 | €1,129 | +€455 | +67.5% |
| Other tangible fixed assets | 26 | €3,111 | €2,667 | -€444 | -14.3% |
| Financial fixed assets | 28 | €8,314 | €8,314 | = | 0.0% |
| Current assets | 29/58 | €108,772 | €107,230 | -€1,542 | -1.4% |
| Stocks and contracts in progress | 3 | €10,060 | €8,310 | -€1,750 | -17.4% |
| Stocks | 30/36 | €10,060 | €8,310 | -€1,750 | -17.4% |
| Amounts receivable within one year | 40/41 | €43,784 | €49,341 | +€5,557 | +12.7% |
| Trade receivables | 40 | €26,479 | €35,127 | +€8,648 | +32.7% |
| Other amounts receivable | 41 | €17,305 | €14,214 | -€3,091 | -17.9% |
| Cash at bank and in hand | 54/58 | €44,677 | €46,881 | +€2,204 | +4.9% |
| Deferred charges and accrued income | 490/1 | €10,251 | €2,698 | -€7,553 | -73.7% |
| Total equity and liabilities | 10/49 | €120,871 | €119,340 | -€1,531 | -1.3% |
| Equity | 10/15 | €60,018 | €60,552 | +€534 | +0.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €16,784 | €17,318 | +€534 | +3.2% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €10,584 | €11,118 | +€534 | +5.0% |
| Profit (loss) carried forward | 14 | -€18,766 | -€18,766 | = | 0.0% |
| Amounts payable | 17/49 | €60,853 | €58,788 | -€2,065 | -3.4% |
| Amounts payable after more than one year | 17 | €15,712 | €15,388 | -€324 | -2.1% |
| Other amounts payable | 178/9 | €15,712 | €15,388 | -€324 | -2.1% |
| Amounts payable within one year | 42/48 | €45,141 | €43,400 | -€1,741 | -3.9% |
| Trade debts | 44 | €36,811 | €35,070 | -€1,741 | -4.7% |
| Suppliers | 440/4 | €36,811 | €35,070 | -€1,741 | -4.7% |
| Taxes, remuneration and social security | 45 | €8,330 | €8,330 | = | 0.0% |
| Remuneration and social security | 454/9 | €8,330 | €8,330 | = | 0.0% |
| Turnover | 70 | €35,485 | €22,790 | -€12,695 | -35.8% |
| Goods, raw materials, services and sundry goods | 60/61 | €31,529 | €17,015 | -€14,514 | -46.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €980 | €1,069 | +€89 | +9.1% |
| Other operating charges | 640/8 | €1,169 | €1,328 | +€159 | +13.6% |
| Gross operating margin | 9900 | €3,956 | €5,775 | +€1,819 | +46.0% |
| Operating profit (loss) | 9901 | €1,807 | €3,378 | +€1,571 | +86.9% |
| Financial income | 75/76B | €21 | - | -€21 | |
| Recurring financial income | 75 | €21 | - | -€21 | |
| Financial charges | 65/66B | €1,411 | €2,844 | +€1,433 | +101.6% |
| Recurring financial charges | 65 | €161 | €46 | -€115 | -71.4% |
| Non-recurring financial charges | 66B | €1,250 | €2,798 | +€1,548 | +123.8% |
| Profit (loss) for the period before taxes | 9903 | €417 | €534 | +€117 | +28.1% |
| Profit (loss) for the period | 9904 | €417 | €534 | +€117 | +28.1% |
| Profit (loss) for the period to be appropriated | 9905 | €417 | €534 | +€117 | +28.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.