Vandeweyer: 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.
Vandeweyer
Largest movements
- Stocks and contracts -€244,290
down €244,290 (-20.5%), from €1.2m to €944,650
of which Stocks: -€204,540
- Cash +€147,337
up €147,337 (+199%), from €73,990 to €221,327
mainly Other debts (+€248,560) and Stocks and contracts (+€244,290)
- Receivables within one year -€101,965
down €101,965 (-65.8%), from €154,845 to €52,880
of which Trade receivables: -€114,295
- Other debts +€248,560
up €248,560 (+1,493,749%), from €17 to €248,577
- Short-term financial debts -€200,731
down €200,731 (-39.0%), from €515,257 to €314,526
- Reserves -€174,245
down €174,245 (-42.7%), from €408,493 to €234,247
of which Distributable reserves: -€171,226
- Trade debts -€94,792
down €94,792 (-60.5%), from €156,679 to €61,887
- Gross operating margin +€99,052
up €99,052 (+45.8%), from €216,281 to €315,333
- Taxes +€25,639
up €25,639 (+530%), from €4,841 to €30,480
- Financial charges +€24,929
up €24,929 (+74.3%), from €33,546 to €58,475
- Staff costs -€16,288
down €16,288 (-11.6%), from €140,622 to €124,334
- Other operating charges -€3,208
down €3,208 (-23.5%), from €13,676 to €10,468
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 | €1,499,309 | €1,287,117 | -€212,191 | -14.2% |
| Fixed assets | 21/28 | €65,021 | €51,463 | -€13,557 | -20.9% |
| Intangible fixed assets | 21 | €6,152 | €2,976 | -€3,176 | -51.6% |
| Tangible fixed assets | 22/27 | €58,869 | €48,488 | -€10,381 | -17.6% |
| Plant, machinery and equipment | 23 | €46,678 | €38,080 | -€8,599 | -18.4% |
| Furniture and vehicles | 24 | €12,191 | €10,408 | -€1,783 | -14.6% |
| Current assets | 29/58 | €1,434,288 | €1,235,654 | -€198,634 | -13.8% |
| Stocks and contracts in progress | 3 | €1,188,940 | €944,650 | -€244,290 | -20.5% |
| Stocks | 30/36 | €539,190 | €334,650 | -€204,540 | -37.9% |
| Contracts in progress | 37 | €649,750 | €610,000 | -€39,750 | -6.1% |
| Amounts receivable within one year | 40/41 | €154,845 | €52,880 | -€101,965 | -65.8% |
| Trade receivables | 40 | €149,453 | €35,158 | -€114,295 | -76.5% |
| Other amounts receivable | 41 | €5,392 | €17,721 | +€12,330 | +229% |
| Cash at bank and in hand | 54/58 | €73,990 | €221,327 | +€147,337 | +199% |
| Deferred charges and accrued income | 490/1 | €16,513 | €16,797 | +€285 | +1.7% |
| Total equity and liabilities | 10/49 | €1,499,309 | €1,287,117 | -€212,191 | -14.2% |
| Equity | 10/15 | €533,493 | €359,247 | -€174,245 | -32.7% |
| Contributions | 10/11 | €125,000 | €125,000 | = | 0.0% |
| Capital | 10 | €125,000 | €125,000 | = | 0.0% |
| Issued capital | 100 | €125,000 | €125,000 | = | 0.0% |
| Reserves | 13 | €408,493 | €234,247 | -€174,245 | -42.7% |
| Non-distributable reserves | 130/1 | €12,500 | €12,500 | = | 0.0% |
| Legal reserve | 130 | €12,500 | €12,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €14,194 | €11,175 | -€3,019 | -21.3% |
| Distributable reserves | 133 | €381,799 | €210,572 | -€171,226 | -44.8% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Provisions and deferred taxes | 16 | €4,731 | €3,725 | -€1,006 | -21.3% |
| Deferred taxes | 168 | €4,731 | €3,725 | -€1,006 | -21.3% |
| Amounts payable | 17/49 | €961,085 | €924,145 | -€36,940 | -3.8% |
| Amounts payable after more than one year | 17 | €257,000 | €269,000 | +€12,000 | +4.7% |
| Other amounts payable | 178/9 | €257,000 | €269,000 | +€12,000 | +4.7% |
| Amounts payable within one year | 42/48 | €704,085 | €655,145 | -€48,940 | -7.0% |
| Current portion of amounts payable after more than one year | 42 | €1,690 | €1,683 | -€8 | -0.5% |
| Financial debts | 43 | €515,257 | €314,526 | -€200,731 | -39.0% |
| Credit institutions | 430/8 | €515,257 | €314,526 | -€200,731 | -39.0% |
| Trade debts | 44 | €156,679 | €61,887 | -€94,792 | -60.5% |
| Suppliers | 440/4 | €156,679 | €61,887 | -€94,792 | -60.5% |
| Advances received on contracts in progress | 46 | €3,830 | €3,830 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €26,611 | €24,642 | -€1,969 | -7.4% |
| Taxes | 450/3 | €23,221 | €22,691 | -€530 | -2.3% |
| Remuneration and social security | 454/9 | €3,390 | €1,951 | -€1,439 | -42.4% |
| Other amounts payable | 47/48 | €17 | €248,577 | +€248,560 | +1,493,749% |
| Remuneration, social security and pensions | 62 | €140,622 | €124,334 | -€16,288 | -11.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,029 | €16,411 | -€618 | -3.6% |
| Other operating charges | 640/8 | €13,676 | €10,468 | -€3,208 | -23.5% |
| Non-recurring operating charges | 66A | €500 | €2,604 | +€2,104 | +421% |
| Gross operating margin | 9900 | €216,281 | €315,333 | +€99,052 | +45.8% |
| Operating profit (loss) | 9901 | €44,454 | €161,517 | +€117,063 | +263% |
| Financial income | 75/76B | €0 | €155 | +€155 | |
| Recurring financial income | 75 | €0 | €155 | +€155 | |
| Financial charges | 65/66B | €33,546 | €58,475 | +€24,929 | +74.3% |
| Recurring financial charges | 65 | €33,546 | €58,475 | +€24,929 | +74.3% |
| Profit (loss) for the period before taxes | 9903 | €10,908 | €103,197 | +€92,288 | +846% |
| Transfer from deferred taxes | 780 | €1,006 | €1,006 | = | 0.0% |
| Income taxes | 67/77 | €4,841 | €30,480 | +€25,639 | +530% |
| Profit (loss) for the period | 9904 | €7,073 | €73,723 | +€66,650 | +942% |
| Transfer from tax-exempt reserves | 789 | €3,019 | €3,019 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €10,092 | €76,742 | +€66,650 | +660% |
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 23 October 2026 via checked.be.