VANDITIM: 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.
VANDITIM
Largest movements
- Tangible fixed assets +€59,709
up €59,709 (+69.1%), from €86,471 to €146,180
of which Furniture and vehicles: +€69,212
- Cash +€25,461
up €25,461 (+32.8%), from €77,515 to €102,976
mainly Debts after one year (+€46,986) and Net result for the year (+€37,463)
- Receivables within one year +€15,630
up €15,630 (+100.2%), from €15,605 to €31,235
of which Trade receivables: +€21,264
- Stocks and contracts -€6,607
down €6,607 (-17.8%), from €37,163 to €30,556
of which Contracts in progress: -€3,868
- Debts after one year +€46,986
up €46,986 (+118.3%), from €39,730 to €86,716
- Reserves +€37,463
up €37,463 (+29.0%), from €129,353 to €166,816
- Current portion of long-term debt +€13,617
up €13,617 (+132.6%), from €10,272 to €23,889
- Trade debts -€6,941
down €6,941 (-100.0%), from €6,941 to €0
- Tax, wage and social debts +€6,330
up €6,330 (+285.0%), from €2,221 to €8,550
- Gross operating margin +€34,598
up €34,598 (+71.4%), from €48,460 to €83,058
- Taxes +€11,921
up €11,921 (+164.5%), from €7,248 to €19,169
- Depreciation +€4,418
up €4,418 (+21.8%), from €20,230 to €24,648
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.
Cash bridge derived
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 | €222,097 | €315,337 | +€93,240 | +42.0% |
| Fixed assets | 21/28 | €88,171 | €147,880 | +€59,709 | +67.7% |
| Tangible fixed assets | 22/27 | €86,471 | €146,180 | +€59,709 | +69.1% |
| Land and buildings | 22 | €20,191 | €18,332 | -€1,859 | -9.2% |
| Plant, machinery and equipment | 23 | €53,506 | €45,862 | -€7,644 | -14.3% |
| Furniture and vehicles | 24 | €12,774 | €81,986 | +€69,212 | +541.8% |
| Financial fixed assets | 28 | €1,700 | €1,700 | = | 0.0% |
| Current assets | 29/58 | €133,926 | €167,457 | +€33,530 | +25.0% |
| Stocks and contracts in progress | 3 | €37,163 | €30,556 | -€6,607 | -17.8% |
| Stocks | 30/36 | €21,737 | €18,999 | -€2,739 | -12.6% |
| Contracts in progress | 37 | €15,426 | €11,557 | -€3,868 | -25.1% |
| Amounts receivable within one year | 40/41 | €15,605 | €31,235 | +€15,630 | +100.2% |
| Trade receivables | 40 | €8,960 | €30,223 | +€21,264 | +237.3% |
| Other amounts receivable | 41 | €6,645 | €1,012 | -€5,633 | -84.8% |
| Cash at bank and in hand | 54/58 | €77,515 | €102,976 | +€25,461 | +32.8% |
| Deferred charges and accrued income | 490/1 | €3,644 | €2,690 | -€954 | -26.2% |
| Total equity and liabilities | 10/49 | €222,097 | €315,337 | +€93,240 | +42.0% |
| Equity | 10/15 | €154,353 | €191,816 | +€37,463 | +24.3% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €129,353 | €166,816 | +€37,463 | +29.0% |
| Distributable reserves | 133 | €129,353 | €166,816 | +€37,463 | +29.0% |
| Amounts payable | 17/49 | €67,743 | €123,521 | +€55,777 | +82.3% |
| Amounts payable after more than one year | 17 | €39,730 | €86,716 | +€46,986 | +118.3% |
| Financial debts | 170/4 | €39,730 | €86,716 | +€46,986 | +118.3% |
| Amounts payable within one year | 42/48 | €27,771 | €36,562 | +€8,791 | +31.7% |
| Current portion of amounts payable after more than one year | 42 | €10,272 | €23,889 | +€13,617 | +132.6% |
| Trade debts | 44 | €6,941 | €0 | -€6,941 | -100.0% |
| Suppliers | 440/4 | €6,941 | €0 | -€6,941 | -100.0% |
| Taxes, remuneration and social security | 45 | €2,221 | €8,550 | +€6,330 | +285.0% |
| Taxes | 450/3 | €2,221 | €8,550 | +€6,330 | +285.0% |
| Other amounts payable | 47/48 | €8,338 | €4,123 | -€4,215 | -50.6% |
| Accrued charges and deferred income | 492/3 | €242 | €242 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,230 | €24,648 | +€4,418 | +21.8% |
| Other operating charges | 640/8 | €516 | €413 | -€102 | -19.8% |
| Gross operating margin | 9900 | €48,460 | €83,058 | +€34,598 | +71.4% |
| Operating profit (loss) | 9901 | €27,714 | €57,997 | +€30,283 | +109.3% |
| Financial income | 75/76B | €743 | €882 | +€138 | +18.6% |
| Recurring financial income | 75 | €743 | €882 | +€138 | +18.6% |
| Financial charges | 65/66B | €2,224 | €2,247 | +€23 | +1.0% |
| Recurring financial charges | 65 | €2,224 | €2,247 | +€23 | +1.0% |
| Profit (loss) for the period before taxes | 9903 | €26,233 | €56,631 | +€30,398 | +115.9% |
| Income taxes | 67/77 | €7,248 | €19,169 | +€11,921 | +164.5% |
| Profit (loss) for the period | 9904 | €18,985 | €37,463 | +€18,477 | +97.3% |
| Profit (loss) for the period to be appropriated | 9905 | €18,985 | €37,463 | +€18,477 | +97.3% |
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 9 October 2026 via checked.be.