VANDEWALLE M.: 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.
VANDEWALLE M.
Largest movements
- Receivables within one year -€26,197
down €26,197 (-47.1%), from €55,621 to €29,424
of which Other amounts receivable: -€15,129
- Cash +€25,901
up €25,901 (+85.8%), from €30,204 to €56,106
mainly Receivables within one year (+€26,197) and Net result for the year (+€21,436)
- Tangible fixed assets +€4,378
up €4,378 (+1.8%), from €247,780 to €252,158
of which Plant, machinery and equipment: +€9,148
- Trade debts -€28,208
down €28,208 (-41.9%), from €67,299 to €39,092
- Reserves +€21,436
up €21,436 (+37.3%), from €57,494 to €78,930
of which Distributable reserves: +€21,436
- Tax, wage and social debts +€13,037
up €13,037 (+439%), from €2,969 to €16,006
- Other debts +€13,000
up €13,000 (+54.3%), from €23,940 to €36,940
- Debts after one year -€10,550
down €10,550 (-7.9%), from €133,775 to €123,225
- Gross operating margin +€15,637
up €15,637 (+37.9%), from €41,236 to €56,872
- Other operating charges +€7,637
up €7,637 (+291%), from €2,620 to €10,257
- Taxes +€4,241
up €4,241 (+58.5%), from €7,246 to €11,487
- Depreciation -€4,146
down €4,146 (-31.4%), from €13,203 to €9,058
- Financial income -€991
down €991 (-90.7%), from €1,094 to €102
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 | €338,440 | €343,405 | +€4,965 | +1.5% |
| Fixed assets | 21/28 | €247,780 | €252,158 | +€4,378 | +1.8% |
| Tangible fixed assets | 22/27 | €247,780 | €252,158 | +€4,378 | +1.8% |
| Land and buildings | 22 | €213,948 | €213,948 | = | 0.0% |
| Plant, machinery and equipment | 23 | €7,677 | €16,825 | +€9,148 | +119% |
| Furniture and vehicles | 24 | €26,155 | €21,385 | -€4,770 | -18.2% |
| Current assets | 29/58 | €90,660 | €91,247 | +€586 | +0.6% |
| Amounts receivable within one year | 40/41 | €55,621 | €29,424 | -€26,197 | -47.1% |
| Trade receivables | 40 | €15,819 | €4,752 | -€11,067 | -70.0% |
| Other amounts receivable | 41 | €39,802 | €24,672 | -€15,129 | -38.0% |
| Current investments | 50/53 | €357 | €357 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €30,204 | €56,106 | +€25,901 | +85.8% |
| Deferred charges and accrued income | 490/1 | €4,479 | €5,361 | +€882 | +19.7% |
| Total equity and liabilities | 10/49 | €338,440 | €343,405 | +€4,965 | +1.5% |
| Equity | 10/15 | €96,158 | €117,593 | +€21,436 | +22.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €57,494 | €78,930 | +€21,436 | +37.3% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €55,635 | €77,071 | +€21,436 | +38.5% |
| Profit (loss) carried forward | 14 | €32,463 | €32,463 | = | 0.0% |
| Amounts payable | 17/49 | €242,283 | €225,812 | -€16,471 | -6.8% |
| Amounts payable after more than one year | 17 | €133,775 | €123,225 | -€10,550 | -7.9% |
| Financial debts | 170/4 | €133,775 | €123,225 | -€10,550 | -7.9% |
| Amounts payable within one year | 42/48 | €108,508 | €102,587 | -€5,921 | -5.5% |
| Current portion of amounts payable after more than one year | 42 | €14,300 | €10,550 | -€3,750 | -26.2% |
| Trade debts | 44 | €67,299 | €39,092 | -€28,208 | -41.9% |
| Suppliers | 440/4 | €67,299 | €39,092 | -€28,208 | -41.9% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €2,969 | €16,006 | +€13,037 | +439% |
| Taxes | 450/3 | €2,969 | €16,006 | +€13,037 | +439% |
| Other amounts payable | 47/48 | €23,940 | €36,940 | +€13,000 | +54.3% |
| Non-recurring operating income | 76A | - | €900 | +€900 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,203 | €9,058 | -€4,146 | -31.4% |
| Other operating charges | 640/8 | €2,620 | €10,257 | +€7,637 | +291% |
| Gross operating margin | 9900 | €41,236 | €56,872 | +€15,637 | +37.9% |
| Operating profit (loss) | 9901 | €25,412 | €37,557 | +€12,145 | +47.8% |
| Financial income | 75/76B | €1,094 | €102 | -€991 | -90.7% |
| Recurring financial income | 75 | €1,094 | €102 | -€991 | -90.7% |
| Financial charges | 65/66B | €5,051 | €4,737 | -€315 | -6.2% |
| Recurring financial charges | 65 | €5,051 | €4,737 | -€315 | -6.2% |
| Profit (loss) for the period before taxes | 9903 | €21,455 | €32,923 | +€11,468 | +53.5% |
| Income taxes | 67/77 | €7,246 | €11,487 | +€4,241 | +58.5% |
| Profit (loss) for the period | 9904 | €14,208 | €21,436 | +€7,228 | +50.9% |
| Profit (loss) for the period to be appropriated | 9905 | €14,208 | €21,436 | +€7,228 | +50.9% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.