Vandewiele: what changed
Vandewiele
Largest movements
- Cash +€101,962
up €101,962 (+311%), from €32,777 to €134,739
mainly Depreciation (+€72,451) and Net result for the year (+€47,976)
- Tangible fixed assets -€66,898
down €66,898 (-11.2%), from €596,575 to €529,677
- Receivables within one year -€9,007
down €9,007 (-7.5%), from €120,275 to €111,268
of which Trade receivables: -€6,554
- Deferred charges and accrued income -€8,838
down €8,838 (-68.3%), from €12,944 to €4,106
- Reserves +€46,310
up €46,310 (+48.2%), from €96,094 to €142,404
of which Distributable reserves: +€46,310
- Debts after one year -€35,269
down €35,269 (-6.4%), from €548,572 to €513,302
of which Financial debts: -€35,269
- Tax, wage and social debts +€25,299
up €25,299 (+2,076%), from €1,218 to €26,517
- Trade debts -€14,176
down €14,176 (-89.8%), from €15,788 to €1,612
- Gross operating margin +€34,727
up €34,727 (+25.8%), from €134,714 to €169,441
- Taxes +€13,839
up €13,839 (+105%), from €13,134 to €26,973
- Other operating charges -€2,368
down €2,368 (-27.6%), from €8,590 to €6,222
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €765,197 | €782,415 | +€17,218 | +2.3% |
| Fixed assets | 21/28 | €599,200 | €532,302 | -€66,898 | -11.2% |
| Tangible fixed assets | 22/27 | €596,575 | €529,677 | -€66,898 | -11.2% |
| Land and buildings | 22 | €356,698 | €329,810 | -€26,888 | -7.5% |
| Plant, machinery and equipment | 23 | €3,581 | €1,648 | -€1,933 | -54.0% |
| Furniture and vehicles | 24 | €65,663 | €42,226 | -€23,437 | -35.7% |
| Other tangible fixed assets | 26 | €170,633 | €155,992 | -€14,640 | -8.6% |
| Financial fixed assets | 28 | €2,625 | €2,625 | = | 0.0% |
| Current assets | 29/58 | €165,997 | €250,113 | +€84,116 | +50.7% |
| Amounts receivable within one year | 40/41 | €120,275 | €111,268 | -€9,007 | -7.5% |
| Trade receivables | 40 | €112,659 | €106,105 | -€6,554 | -5.8% |
| Other amounts receivable | 41 | €7,617 | €5,164 | -€2,453 | -32.2% |
| Cash at bank and in hand | 54/58 | €32,777 | €134,739 | +€101,962 | +311% |
| Deferred charges and accrued income | 490/1 | €12,944 | €4,106 | -€8,838 | -68.3% |
| Total equity and liabilities | 10/49 | €765,197 | €782,415 | +€17,218 | +2.3% |
| Equity | 10/15 | €114,694 | €161,004 | +€46,310 | +40.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €96,094 | €142,404 | +€46,310 | +48.2% |
| Tax-exempt reserves | 132 | €17,819 | €17,819 | = | 0.0% |
| Distributable reserves | 133 | €78,275 | €124,585 | +€46,310 | +59.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €650,503 | €621,411 | -€29,092 | -4.5% |
| Amounts payable after more than one year | 17 | €548,572 | €513,302 | -€35,269 | -6.4% |
| Financial debts | 170/4 | €423,572 | €388,302 | -€35,269 | -8.3% |
| Other amounts payable | 178/9 | €125,000 | €125,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €98,147 | €103,909 | +€5,763 | +5.9% |
| Current portion of amounts payable after more than one year | 42 | €34,434 | €35,269 | +€836 | +2.4% |
| Trade debts | 44 | €15,788 | €1,612 | -€14,176 | -89.8% |
| Suppliers | 440/4 | €15,788 | €1,612 | -€14,176 | -89.8% |
| Taxes, remuneration and social security | 45 | €1,218 | €26,517 | +€25,299 | +2,076% |
| Taxes | 450/3 | €1,218 | €26,517 | +€25,299 | +2,076% |
| Other amounts payable | 47/48 | €46,706 | €40,511 | -€6,196 | -13.3% |
| Accrued charges and deferred income | 492/3 | €3,785 | €4,200 | +€415 | +11.0% |
| Non-recurring operating income | 76A | €1,000 | €0 | -€1,000 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €73,582 | €72,451 | -€1,131 | -1.5% |
| Other operating charges | 640/8 | €8,590 | €6,222 | -€2,368 | -27.6% |
| Gross operating margin | 9900 | €134,714 | €169,441 | +€34,727 | +25.8% |
| Operating profit (loss) | 9901 | €52,543 | €90,768 | +€38,225 | +72.8% |
| Financial income | 75/76B | €8 | €7 | -€1 | -8.0% |
| Recurring financial income | 75 | €8 | €7 | -€1 | -8.0% |
| Financial charges | 65/66B | €15,177 | €15,826 | +€649 | +4.3% |
| Recurring financial charges | 65 | €15,177 | €15,826 | +€649 | +4.3% |
| Profit (loss) for the period before taxes | 9903 | €37,374 | €74,949 | +€37,575 | +101% |
| Income taxes | 67/77 | €13,134 | €26,973 | +€13,839 | +105% |
| Profit (loss) for the period | 9904 | €24,239 | €47,976 | +€23,737 | +97.9% |
| Profit (loss) for the period to be appropriated | 9905 | €24,239 | €47,976 | +€23,737 | +97.9% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.