VANDOWAN: 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.
VANDOWAN
Largest movements
- Cash +€4,167
up €4,167 (+19.1%), from €21,799 to €25,966
mainly Net result for the year (+€6,970) and Receivables within one year (+€4,136)
- Receivables within one year -€4,136
down €4,136 (-55.9%), from €7,397 to €3,261
of which Trade receivables: -€4,101
- Tangible fixed assets -€1,951
down €1,951 (-13.0%), from €15,047 to €13,097
of which Furniture and vehicles: -€2,749
- Reserves +€6,970
up €6,970 (+24.0%), from €29,101 to €36,071
- Tax, wage and social debts -€5,329
down €5,329 (-71.3%), from €7,476 to €2,147
- Other debts -€3,607
down €3,607 (-82.4%), from €4,378 to €771
- Gross operating margin -€26,650
down €26,650 (-66.0%), from €40,394 to €13,744
- Taxes -€5,329
down €5,329 (-71.3%), from €7,476 to €2,147
- Depreciation +€1,146
up €1,146 (+44.7%), from €2,562 to €3,708
- Financial charges -€513
down €513 (-65.0%), from €789 to €276
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 | €44,243 | €42,323 | -€1,920 | -4.3% |
| Fixed assets | 21/28 | €15,047 | €13,097 | -€1,951 | -13.0% |
| Tangible fixed assets | 22/27 | €15,047 | €13,097 | -€1,951 | -13.0% |
| Plant, machinery and equipment | 23 | €2,178 | €2,976 | +€798 | +36.7% |
| Furniture and vehicles | 24 | €12,870 | €10,121 | -€2,749 | -21.4% |
| Current assets | 29/58 | €29,196 | €29,226 | +€31 | +0.1% |
| Amounts receivable within one year | 40/41 | €7,397 | €3,261 | -€4,136 | -55.9% |
| Trade receivables | 40 | €6,091 | €1,990 | -€4,101 | -67.3% |
| Other amounts receivable | 41 | €1,306 | €1,271 | -€36 | -2.7% |
| Cash at bank and in hand | 54/58 | €21,799 | €25,966 | +€4,167 | +19.1% |
| Total equity and liabilities | 10/49 | €44,243 | €42,323 | -€1,920 | -4.3% |
| Equity | 10/15 | €32,101 | €39,071 | +€6,970 | +21.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €29,101 | €36,071 | +€6,970 | +24.0% |
| Distributable reserves | 133 | €29,101 | €36,071 | +€6,970 | +24.0% |
| Amounts payable | 17/49 | €12,142 | €3,252 | -€8,890 | -73.2% |
| Amounts payable within one year | 42/48 | €12,142 | €3,252 | -€8,890 | -73.2% |
| Trade debts | 44 | €288 | €334 | +€46 | +16.2% |
| Suppliers | 440/4 | €288 | €334 | +€46 | +16.2% |
| Taxes, remuneration and social security | 45 | €7,476 | €2,147 | -€5,329 | -71.3% |
| Taxes | 450/3 | €7,476 | €2,147 | -€5,329 | -71.3% |
| Other amounts payable | 47/48 | €4,378 | €771 | -€3,607 | -82.4% |
| Remuneration, social security and pensions | 62 | €48 | €301 | +€253 | +530% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,562 | €3,708 | +€1,146 | +44.7% |
| Other operating charges | 640/8 | €418 | €341 | -€77 | -18.3% |
| Gross operating margin | 9900 | €40,394 | €13,744 | -€26,650 | -66.0% |
| Operating profit (loss) | 9901 | €37,367 | €9,393 | -€27,973 | -74.9% |
| Financial charges | 65/66B | €789 | €276 | -€513 | -65.0% |
| Recurring financial charges | 65 | €789 | €276 | -€513 | -65.0% |
| Profit (loss) for the period before taxes | 9903 | €36,577 | €9,117 | -€27,460 | -75.1% |
| Income taxes | 67/77 | €7,476 | €2,147 | -€5,329 | -71.3% |
| Profit (loss) for the period | 9904 | €29,101 | €6,970 | -€22,131 | -76.0% |
| Profit (loss) for the period to be appropriated | 9905 | €29,101 | €6,970 | -€22,131 | -76.0% |
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.