VANDRI: what changed
Two fiscal 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.
VANDRI
Largest movements
- Cash +€57,278
up €57,278 (+101.5%), from €56,421 to €113,699
mainly Other debts (+€39,531) and Net result for the year (+€36,752)
- Current investments -€23,662
down €23,662 (-55.8%), from €42,413 to €18,751
- Deferred charges and accrued income -€13,920
down €13,920 (-85.0%), from €16,369 to €2,448
- Tangible fixed assets -€1,501
down €1,501 (-86.7%), from €1,730 to €230
of which Furniture and vehicles: -€1,259
- Other debts +€39,531
up €39,531 (+2020.9%), from €1,956 to €41,487
- Profit (loss) carried forward -€18,081
down €18,081 (-18.8%), from €96,092 to €78,011
- Tax, wage and social debts -€9,293
down €9,293 (-38.0%), from €24,426 to €15,133
- Short-term financial debts +€5,872
new in 2025: €5,872
- Gross operating margin -€5,113
down €5,113 (-9.4%), from €54,594 to €49,481
- Financial charges +€2,120
up €2,120 (+229.5%), from €924 to €3,044
- Depreciation -€1,591
down €1,591 (-86.7%), from €1,834 to €243
- Taxes -€1,062
down €1,062 (-9.9%), from €10,745 to €9,683
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 | €127,281 | €146,245 | +€18,964 | +14.9% |
| Fixed assets | 21/28 | €1,730 | €230 | -€1,501 | -86.7% |
| Tangible fixed assets | 22/27 | €1,730 | €230 | -€1,501 | -86.7% |
| Plant, machinery and equipment | 23 | €242 | €0 | -€242 | -100.0% |
| Furniture and vehicles | 24 | €1,489 | €230 | -€1,259 | -84.6% |
| Current assets | 29/58 | €125,551 | €146,016 | +€20,465 | +16.3% |
| Amounts receivable within one year | 40/41 | €10,348 | €11,117 | +€769 | +7.4% |
| Trade receivables | 40 | €9,042 | €8,735 | -€307 | -3.4% |
| Other amounts receivable | 41 | €1,306 | €2,382 | +€1,076 | +82.4% |
| Current investments | 50/53 | €42,413 | €18,751 | -€23,662 | -55.8% |
| Cash at bank and in hand | 54/58 | €56,421 | €113,699 | +€57,278 | +101.5% |
| Deferred charges and accrued income | 490/1 | €16,369 | €2,448 | -€13,920 | -85.0% |
| Total equity and liabilities | 10/49 | €127,281 | €146,245 | +€18,964 | +14.9% |
| Equity | 10/15 | €99,092 | €81,011 | -€18,081 | -18.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €96,092 | €78,011 | -€18,081 | -18.8% |
| Amounts payable | 17/49 | €28,189 | €65,234 | +€37,045 | +131.4% |
| Amounts payable within one year | 42/48 | €28,189 | €65,234 | +€37,045 | +131.4% |
| Financial debts | 43 | - | €5,872 | +€5,872 | |
| Credit institutions | 430/8 | - | €5,872 | +€5,872 | |
| Trade debts | 44 | €1,807 | €2,742 | +€936 | +51.8% |
| Suppliers | 440/4 | €1,807 | €2,742 | +€936 | +51.8% |
| Taxes, remuneration and social security | 45 | €24,426 | €15,133 | -€9,293 | -38.0% |
| Taxes | 450/3 | €24,426 | €15,133 | -€9,293 | -38.0% |
| Other amounts payable | 47/48 | €1,956 | €41,487 | +€39,531 | +2020.9% |
| Non-recurring operating income | 76A | - | €392 | +€392 | |
| Remuneration, social security and pensions | 62 | €533 | €0 | -€533 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,834 | €243 | -€1,591 | -86.7% |
| Other operating charges | 640/8 | €769 | €978 | +€209 | +27.1% |
| Gross operating margin | 9900 | €54,594 | €49,481 | -€5,113 | -9.4% |
| Operating profit (loss) | 9901 | €51,458 | €48,260 | -€3,197 | -6.2% |
| Financial income | 75/76B | €1,527 | €1,218 | -€309 | -20.2% |
| Recurring financial income | 75 | €1,527 | €1,218 | -€309 | -20.2% |
| Financial charges | 65/66B | €924 | €3,044 | +€2,120 | +229.5% |
| Recurring financial charges | 65 | €924 | €3,044 | +€2,120 | +229.5% |
| Profit (loss) for the period before taxes | 9903 | €52,061 | €46,435 | -€5,626 | -10.8% |
| Income taxes | 67/77 | €10,745 | €9,683 | -€1,062 | -9.9% |
| Profit (loss) for the period | 9904 | €41,316 | €36,752 | -€4,564 | -11.0% |
| Profit (loss) for the period to be appropriated | 9905 | €41,316 | €36,752 | -€4,564 | -11.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.