VANDIM 5: 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.
VANDIM 5
Largest movements
- Deferred charges and accrued income +€112,597
up €112,597 (+52,218%), from €216 to €112,813
- Receivables within one year +€17,544
up €17,544 (+3.0%), from €586,161 to €603,705
of which Other amounts receivable: +€17,000
- Other debts +€100,000
up €100,000 (+200%), from €50,000 to €150,000
- Profit (loss) carried forward +€33,017
up €33,017 (+21.8%), from €151,264 to €184,281
- Tax, wage and social debts -€10,816
down €10,816 (-25.4%), from €42,516 to €31,700
- Gross operating margin +€9,498
up €9,498 (+4.8%), from €197,017 to €206,514
- Financial income -€5,263
down €5,263 (-39.2%), from €13,444 to €8,181
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 | €762,737 | €889,530 | +€126,793 | +16.6% |
| Fixed assets | 21/28 | €173,907 | €172,289 | -€1,618 | -0.9% |
| Tangible fixed assets | 22/27 | €173,907 | €172,289 | -€1,618 | -0.9% |
| Land and buildings | 22 | €173,907 | €172,289 | -€1,618 | -0.9% |
| Current assets | 29/58 | €588,829 | €717,241 | +€128,411 | +21.8% |
| Amounts receivable within one year | 40/41 | €586,161 | €603,705 | +€17,544 | +3.0% |
| Trade receivables | 40 | €161 | €705 | +€544 | +337% |
| Other amounts receivable | 41 | €586,000 | €603,000 | +€17,000 | +2.9% |
| Cash at bank and in hand | 54/58 | €2,453 | €723 | -€1,730 | -70.5% |
| Deferred charges and accrued income | 490/1 | €216 | €112,813 | +€112,597 | +52,218% |
| Total equity and liabilities | 10/49 | €762,737 | €889,530 | +€126,793 | +16.6% |
| Equity | 10/15 | €668,971 | €701,988 | +€33,017 | +4.9% |
| Contributions | 10/11 | €105,000 | €105,000 | = | 0.0% |
| Capital | 10 | €105,000 | €105,000 | = | 0.0% |
| Issued capital | 100 | €105,000 | €105,000 | = | 0.0% |
| Reserves | 13 | €412,707 | €412,707 | = | 0.0% |
| Non-distributable reserves | 130/1 | €12,707 | €12,707 | = | 0.0% |
| Legal reserve | 130 | €10,500 | €10,500 | = | 0.0% |
| Other | 1319 | €2,207 | €2,207 | = | 0.0% |
| Distributable reserves | 133 | €400,000 | €400,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €151,264 | €184,281 | +€33,017 | +21.8% |
| Amounts payable | 17/49 | €93,766 | €187,542 | +€93,776 | +100% |
| Amounts payable after more than one year | 17 | €1,250 | €1,250 | = | 0.0% |
| Other amounts payable | 178/9 | €1,250 | €1,250 | = | 0.0% |
| Amounts payable within one year | 42/48 | €92,516 | €186,292 | +€93,776 | +101% |
| Trade debts | 44 | - | €4,592 | +€4,592 | |
| Suppliers | 440/4 | - | €4,592 | +€4,592 | |
| Taxes, remuneration and social security | 45 | €42,516 | €31,700 | -€10,816 | -25.4% |
| Taxes | 450/3 | €42,516 | €31,700 | -€10,816 | -25.4% |
| Other amounts payable | 47/48 | €50,000 | €150,000 | +€100,000 | +200% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,372 | €1,618 | -€753 | -31.8% |
| Other operating charges | 640/8 | €32,448 | €33,436 | +€988 | +3.0% |
| Gross operating margin | 9900 | €197,017 | €206,514 | +€9,498 | +4.8% |
| Operating profit (loss) | 9901 | €162,197 | €171,460 | +€9,263 | +5.7% |
| Financial income | 75/76B | €13,444 | €8,181 | -€5,263 | -39.2% |
| Recurring financial income | 75 | €13,444 | €8,181 | -€5,263 | -39.2% |
| Financial charges | 65/66B | €179 | €210 | +€32 | +17.6% |
| Recurring financial charges | 65 | €179 | €210 | +€32 | +17.6% |
| Profit (loss) for the period before taxes | 9903 | €175,462 | €179,431 | +€3,968 | +2.3% |
| Income taxes | 67/77 | €44,816 | €46,413 | +€1,598 | +3.6% |
| Profit (loss) for the period | 9904 | €130,647 | €133,017 | +€2,371 | +1.8% |
| Profit (loss) for the period to be appropriated | 9905 | €130,647 | €133,017 | +€2,371 | +1.8% |
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 26 October 2026 via checked.be.