VANDOTRANS: 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.
VANDOTRANS
Largest movements
- Tangible fixed assets -€52,906
down €52,906 (-8.7%), from €606,338 to €553,433
of which Land and buildings: -€27,696
- Receivables within one year +€28,321
up €28,321 (+48.5%), from €58,399 to €86,720
of which Trade receivables: +€25,819
- Cash -€16,738
down €16,738 (-5.9%), from €284,656 to €267,918
mainly Contributions, distributions and other (-€145,000) and Receivables within one year (-€28,321)
- Reserves -€91,813
down €91,813 (-10.5%), from €874,288 to €782,475
of which Distributable reserves: -€91,813
- Other debts +€44,601
up €44,601 (+708.3%), from €6,297 to €50,898
- Gross operating margin +€25,713
up €25,713 (+15.9%), from €161,683 to €187,396
- Financial income +€6,194
up €6,194 (+42.0%), from €14,733 to €20,927
- Write-downs +€5,180
new in 2025: €5,180
- Staff costs +€2,934
up €2,934 (+6.6%), from €44,241 to €47,175
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 | €1,525,435 | €1,478,319 | -€47,116 | -3.1% |
| Fixed assets | 21/28 | €607,197 | €553,593 | -€53,603 | -8.8% |
| Intangible fixed assets | 21 | €858 | €161 | -€698 | -81.3% |
| Tangible fixed assets | 22/27 | €606,338 | €553,433 | -€52,906 | -8.7% |
| Land and buildings | 22 | €528,029 | €500,333 | -€27,696 | -5.2% |
| Plant, machinery and equipment | 23 | €12,406 | €5,592 | -€6,813 | -54.9% |
| Furniture and vehicles | 24 | €65,903 | €47,507 | -€18,397 | -27.9% |
| Current assets | 29/58 | €918,238 | €924,725 | +€6,487 | +0.7% |
| Amounts receivable after more than one year | 29 | €15 | €15 | = | 0.0% |
| Other amounts receivable | 291 | €15 | €15 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €58,399 | €86,720 | +€28,321 | +48.5% |
| Trade receivables | 40 | €49,707 | €75,526 | +€25,819 | +51.9% |
| Other amounts receivable | 41 | €8,692 | €11,194 | +€2,502 | +28.8% |
| Current investments | 50/53 | €569,425 | €569,425 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €284,656 | €267,918 | -€16,738 | -5.9% |
| Deferred charges and accrued income | 490/1 | €5,742 | €646 | -€5,096 | -88.7% |
| Total equity and liabilities | 10/49 | €1,525,435 | €1,478,319 | -€47,116 | -3.1% |
| Equity | 10/15 | €1,484,288 | €1,392,475 | -€91,813 | -6.2% |
| Contributions | 10/11 | €610,000 | €610,000 | = | 0.0% |
| Capital | 10 | €610,000 | €610,000 | = | 0.0% |
| Issued capital | 100 | €610,000 | €610,000 | = | 0.0% |
| Reserves | 13 | €874,288 | €782,475 | -€91,813 | -10.5% |
| Non-distributable reserves | 130/1 | €61,000 | €61,000 | = | 0.0% |
| Legal reserve | 130 | €61,000 | €61,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €122,994 | €122,994 | = | 0.0% |
| Distributable reserves | 133 | €690,294 | €598,481 | -€91,813 | -13.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €41,147 | €85,843 | +€44,697 | +108.6% |
| Amounts payable within one year | 42/48 | €39,593 | €85,843 | +€46,250 | +116.8% |
| Trade debts | 44 | €17,230 | €9,973 | -€7,257 | -42.1% |
| Suppliers | 440/4 | €17,230 | €9,973 | -€7,257 | -42.1% |
| Taxes, remuneration and social security | 45 | €16,066 | €24,973 | +€8,907 | +55.4% |
| Taxes | 450/3 | €6,404 | €14,976 | +€8,572 | +133.8% |
| Remuneration and social security | 454/9 | €9,662 | €9,997 | +€335 | +3.5% |
| Other amounts payable | 47/48 | €6,297 | €50,898 | +€44,601 | +708.3% |
| Accrued charges and deferred income | 492/3 | €1,554 | €0 | -€1,554 | -100.0% |
| Remuneration, social security and pensions | 62 | €44,241 | €47,175 | +€2,934 | +6.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,788 | €53,603 | +€816 | +1.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €5,180 | +€5,180 | |
| Other operating charges | 640/8 | €35,684 | €35,700 | +€16 | 0.0% |
| Gross operating margin | 9900 | €161,683 | €187,396 | +€25,713 | +15.9% |
| Operating profit (loss) | 9901 | €28,970 | €45,738 | +€16,767 | +57.9% |
| Financial income | 75/76B | €14,733 | €20,927 | +€6,194 | +42.0% |
| Recurring financial income | 75 | €14,733 | €20,927 | +€6,194 | +42.0% |
| Financial charges | 65/66B | €1,195 | €1,540 | +€345 | +28.8% |
| Recurring financial charges | 65 | €1,195 | €1,540 | +€345 | +28.8% |
| Profit (loss) for the period before taxes | 9903 | €42,508 | €65,125 | +€22,616 | +53.2% |
| Income taxes | 67/77 | €10,804 | €11,937 | +€1,133 | +10.5% |
| Profit (loss) for the period | 9904 | €31,704 | €53,187 | +€21,483 | +67.8% |
| Profit (loss) for the period to be appropriated | 9905 | €31,704 | €53,187 | +€21,483 | +67.8% |
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 10 October 2026 via checked.be.