VanDoen: 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.
VanDoen
Largest movements
- Cash +€50,135
up €50,135 (+39.6%), from €126,714 to €176,849
mainly Net result for the year (+€81,813) and Receivables within one year (+€7,065)
- Receivables within one year -€7,065
down €7,065 (-22.4%), from €31,603 to €24,538
of which Trade receivables: -€5,443
- Deferred charges and accrued income +€2,829
up €2,829 (+196%), from €1,444 to €4,273
- Tangible fixed assets +€2,493
up €2,493 (+12.9%), from €19,308 to €21,800
of which Plant, machinery and equipment: +€3,666
- Reserves +€81,813
up €81,813 (+65.6%), from €124,784 to €206,597
- Tax, wage and social debts -€24,448
down €24,448 (-69.0%), from €35,423 to €10,975
of which Taxes: -€25,211
- Trade debts -€6,312
down €6,312 (-52.6%), from €12,008 to €5,697
- Other debts -€2,952
no longer reported in 2026 (was €2,952)
- Gross operating margin -€18,252
down €18,252 (-13.7%), from €133,406 to €115,154
- Financial charges +€2,500
up €2,500 (+566%), from €442 to €2,942
- Depreciation +€1,610
up €1,610 (+95.9%), from €1,679 to €3,289
- Taxes -€1,344
down €1,344 (-5.0%), from €26,940 to €25,597
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €180,167 | €228,269 | +€48,101 | +26.7% |
| Formation expenses | 20 | €1,099 | €808 | -€291 | -26.5% |
| Fixed assets | 21/28 | €19,308 | €21,800 | +€2,493 | +12.9% |
| Tangible fixed assets | 22/27 | €19,308 | €21,800 | +€2,493 | +12.9% |
| Plant, machinery and equipment | 23 | €14,657 | €18,323 | +€3,666 | +25.0% |
| Furniture and vehicles | 24 | €4,651 | €3,478 | -€1,173 | -25.2% |
| Current assets | 29/58 | €159,760 | €205,660 | +€45,900 | +28.7% |
| Amounts receivable within one year | 40/41 | €31,603 | €24,538 | -€7,065 | -22.4% |
| Trade receivables | 40 | €23,089 | €17,646 | -€5,443 | -23.6% |
| Other amounts receivable | 41 | €8,514 | €6,892 | -€1,622 | -19.0% |
| Cash at bank and in hand | 54/58 | €126,714 | €176,849 | +€50,135 | +39.6% |
| Deferred charges and accrued income | 490/1 | €1,444 | €4,273 | +€2,829 | +196% |
| Total equity and liabilities | 10/49 | €180,167 | €228,269 | +€48,101 | +26.7% |
| Equity | 10/15 | €129,784 | €211,597 | +€81,813 | +63.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Contributions outside capital | 11 | €5,000 | - | -€5,000 | |
| Other | 1109/19 | €5,000 | - | -€5,000 | |
| Reserves | 13 | €124,784 | €206,597 | +€81,813 | +65.6% |
| Distributable reserves | 133 | €124,784 | €206,597 | +€81,813 | +65.6% |
| Amounts payable | 17/49 | €50,383 | €16,672 | -€33,711 | -66.9% |
| Amounts payable within one year | 42/48 | €50,383 | €16,672 | -€33,711 | -66.9% |
| Trade debts | 44 | €12,008 | €5,697 | -€6,312 | -52.6% |
| Suppliers | 440/4 | €12,008 | €5,697 | -€6,312 | -52.6% |
| Taxes, remuneration and social security | 45 | €35,423 | €10,975 | -€24,448 | -69.0% |
| Taxes | 450/3 | €35,423 | €10,212 | -€25,211 | -71.2% |
| Remuneration and social security | 454/9 | - | €763 | +€763 | |
| Other amounts payable | 47/48 | €2,952 | - | -€2,952 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,679 | €3,289 | +€1,610 | +95.9% |
| Other operating charges | 640/8 | €1,099 | €1,687 | +€589 | +53.6% |
| Gross operating margin | 9900 | €133,406 | €115,154 | -€18,252 | -13.7% |
| Operating profit (loss) | 9901 | €130,629 | €110,178 | -€20,451 | -15.7% |
| Financial income | 75/76B | - | €174 | +€174 | |
| Recurring financial income | 75 | - | €174 | +€174 | |
| Financial charges | 65/66B | €442 | €2,942 | +€2,500 | +566% |
| Recurring financial charges | 65 | €442 | €2,942 | +€2,500 | +566% |
| Profit (loss) for the period before taxes | 9903 | €130,187 | €107,410 | -€22,777 | -17.5% |
| Income taxes | 67/77 | €26,940 | €25,597 | -€1,344 | -5.0% |
| Profit (loss) for the period | 9904 | €103,246 | €81,813 | -€21,434 | -20.8% |
| Profit (loss) for the period to be appropriated | 9905 | €103,246 | €81,813 | -€21,434 | -20.8% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.