VANDORMAEL BART: 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.
VANDORMAEL BART
Largest movements
- Tangible fixed assets +€180,281
up €180,281 (+58.5%), from €308,316 to €488,597
of which Land and buildings: +€183,376
- Cash +€34,154
up €34,154 (+152%), from €22,469 to €56,623
mainly Debts after one year (+€147,971) and Net result for the year (+€51,187)
- Receivables within one year -€20,395
down €20,395 (-26.3%), from €77,406 to €57,011
of which Trade receivables: -€10,626
- Debts after one year +€147,971
up €147,971 (+62.5%), from €236,886 to €384,857
- Other debts +€17,316
up €17,316 (+52.6%), from €32,926 to €50,242
- Tax, wage and social debts +€15,405
new in 2025: €15,405
- Current portion of long-term debt +€14,482
up €14,482 (+148%), from €9,758 to €24,240
- Trade debts +€12,949
up €12,949 (+508%), from €2,548 to €15,497
- Gross operating margin +€67,770
up €67,770 (+203%), from €33,448 to €101,218
- Taxes +€10,233
new in 2025: €10,233
- Depreciation +€9,019
up €9,019 (+60.0%), from €15,041 to €24,060
- Financial charges +€2,882
up €2,882 (+21.9%), from €13,171 to €16,053
of which Financial charges: +€4,077
- Other operating charges +€1,466
up €1,466 (+290%), from €505 to €1,971
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 | €408,191 | €602,287 | +€194,096 | +47.6% |
| Fixed assets | 21/28 | €308,316 | €488,597 | +€180,281 | +58.5% |
| Tangible fixed assets | 22/27 | €308,316 | €488,597 | +€180,281 | +58.5% |
| Land and buildings | 22 | €293,578 | €476,954 | +€183,376 | +62.5% |
| Plant, machinery and equipment | 23 | €7,796 | €5,054 | -€2,742 | -35.2% |
| Furniture and vehicles | 24 | €6,942 | €6,590 | -€352 | -5.1% |
| Current assets | 29/58 | €99,875 | €113,690 | +€13,815 | +13.8% |
| Amounts receivable within one year | 40/41 | €77,406 | €57,011 | -€20,395 | -26.3% |
| Trade receivables | 40 | €64,698 | €54,072 | -€10,626 | -16.4% |
| Other amounts receivable | 41 | €12,708 | €2,939 | -€9,769 | -76.9% |
| Cash at bank and in hand | 54/58 | €22,469 | €56,623 | +€34,154 | +152% |
| Deferred charges and accrued income | 490/1 | - | €56 | +€56 | |
| Total equity and liabilities | 10/49 | €408,191 | €602,287 | +€194,096 | +47.6% |
| Equity | 10/15 | €113,816 | €111,268 | -€2,548 | -2.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €110,816 | €108,268 | -€2,548 | -2.3% |
| Distributable reserves | 133 | €110,816 | €108,268 | -€2,548 | -2.3% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €294,375 | €491,019 | +€196,644 | +66.8% |
| Amounts payable after more than one year | 17 | €236,886 | €384,857 | +€147,971 | +62.5% |
| Financial debts | 170/4 | €236,886 | €384,857 | +€147,971 | +62.5% |
| Amounts payable within one year | 42/48 | €45,232 | €105,384 | +€60,152 | +133% |
| Current portion of amounts payable after more than one year | 42 | €9,758 | €24,240 | +€14,482 | +148% |
| Trade debts | 44 | €2,548 | €15,497 | +€12,949 | +508% |
| Suppliers | 440/4 | €2,548 | €15,497 | +€12,949 | +508% |
| Taxes, remuneration and social security | 45 | - | €15,405 | +€15,405 | |
| Taxes | 450/3 | - | €15,405 | +€15,405 | |
| Other amounts payable | 47/48 | €32,926 | €50,242 | +€17,316 | +52.6% |
| Accrued charges and deferred income | 492/3 | €12,257 | €779 | -€11,478 | -93.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,041 | €24,060 | +€9,019 | +60.0% |
| Other operating charges | 640/8 | €505 | €1,971 | +€1,466 | +290% |
| Gross operating margin | 9900 | €33,448 | €101,218 | +€67,770 | +203% |
| Operating profit (loss) | 9901 | €17,902 | €75,187 | +€57,285 | +320% |
| Financial income | 75/76B | €3,107 | €2,286 | -€821 | -26.4% |
| Recurring financial income | 75 | €3,107 | €2,286 | -€821 | -26.4% |
| Financial charges | 65/66B | €13,171 | €16,053 | +€2,882 | +21.9% |
| Recurring financial charges | 65 | €11,976 | €16,053 | +€4,077 | +34.0% |
| Non-recurring financial charges | 66B | €1,195 | - | -€1,195 | |
| Profit (loss) for the period before taxes | 9903 | €7,838 | €61,419 | +€53,581 | +684% |
| Income taxes | 67/77 | - | €10,233 | +€10,233 | |
| Profit (loss) for the period | 9904 | €7,838 | €51,187 | +€43,349 | +553% |
| Profit (loss) for the period to be appropriated | 9905 | €7,838 | €51,187 | +€43,349 | +553% |
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 13 October 2026 via checked.be.