VANDIM2: 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.
VANDIM2
Largest movements
- Cash +€18,104
up €18,104 (+30.6%), from €59,072 to €77,176
mainly Net result for the year (+€46,866) and Depreciation (+€16,158)
- Tangible fixed assets -€16,158
down €16,158 (-3.5%), from €465,586 to €449,428
No liability line moved by more than 1% of the balance sheet total.
- Financial income -€2,696
down €2,696 (-19.3%), from €13,969 to €11,273
- Gross operating margin +€2,485
up €2,485 (+3.4%), from €73,445 to €75,931
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 | €1,035,594 | €1,046,171 | +€10,577 | +1.0% |
| Fixed assets | 21/28 | €468,685 | €452,527 | -€16,158 | -3.4% |
| Tangible fixed assets | 22/27 | €465,586 | €449,428 | -€16,158 | -3.5% |
| Land and buildings | 22 | €465,586 | €449,428 | -€16,158 | -3.5% |
| Financial fixed assets | 28 | €3,099 | €3,099 | = | 0.0% |
| Current assets | 29/58 | €566,909 | €593,644 | +€26,736 | +4.7% |
| Amounts receivable within one year | 40/41 | €507,837 | €516,469 | +€8,631 | +1.7% |
| Other amounts receivable | 41 | €507,837 | €516,469 | +€8,631 | +1.7% |
| Cash at bank and in hand | 54/58 | €59,072 | €77,176 | +€18,104 | +30.6% |
| Total equity and liabilities | 10/49 | €1,035,594 | €1,046,171 | +€10,577 | +1.0% |
| Equity | 10/15 | €991,110 | €997,976 | +€6,866 | +0.7% |
| Contributions | 10/11 | €347,051 | €347,051 | = | 0.0% |
| Capital | 10 | €347,051 | €347,051 | = | 0.0% |
| Issued capital | 100 | €347,051 | €347,051 | = | 0.0% |
| Reserves | 13 | €55,467 | €55,467 | = | 0.0% |
| Non-distributable reserves | 130/1 | €34,705 | €34,705 | = | 0.0% |
| Legal reserve | 130 | €34,705 | €34,705 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €2,012 | €2,012 | = | 0.0% |
| Profit (loss) carried forward | 14 | €588,591 | €595,458 | +€6,866 | +1.2% |
| Amounts payable | 17/49 | €44,484 | €48,195 | +€3,711 | +8.3% |
| Amounts payable after more than one year | 17 | €1,500 | €1,500 | = | 0.0% |
| Other amounts payable | 178/9 | €1,500 | €1,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €42,984 | €46,695 | +€3,711 | +8.6% |
| Trade debts | 44 | €2,984 | €6,695 | +€3,711 | +124% |
| Suppliers | 440/4 | €2,984 | €6,695 | +€3,711 | +124% |
| Other amounts payable | 47/48 | €40,000 | €40,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,411 | €16,158 | -€252 | -1.5% |
| Other operating charges | 640/8 | €21,003 | €21,585 | +€583 | +2.8% |
| Gross operating margin | 9900 | €73,445 | €75,931 | +€2,485 | +3.4% |
| Operating profit (loss) | 9901 | €36,032 | €38,188 | +€2,155 | +6.0% |
| Financial income | 75/76B | €13,969 | €11,273 | -€2,696 | -19.3% |
| Recurring financial income | 75 | €13,969 | €11,273 | -€2,696 | -19.3% |
| Financial charges | 65/66B | €474 | €305 | -€168 | -35.5% |
| Recurring financial charges | 65 | €275 | €305 | +€30 | +11.0% |
| Non-recurring financial charges | 66B | €198 | - | -€198 | |
| Profit (loss) for the period before taxes | 9903 | €49,528 | €49,155 | -€373 | -0.8% |
| Income taxes | 67/77 | €2,382 | €2,289 | -€93 | -3.9% |
| Profit (loss) for the period | 9904 | €47,146 | €46,866 | -€280 | -0.6% |
| Profit (loss) for the period to be appropriated | 9905 | €47,146 | €46,866 | -€280 | -0.6% |
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 17 October 2026 via checked.be.