VANDTRA: 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.
VANDTRA
Largest movements
- Receivables within one year -€630,366
down €630,366 (-59.9%), from €1.1m to €422,442
of which Trade receivables: -€630,366
- Deferred charges and accrued income -€240,640
down €240,640 (-99.6%), from €241,606 to €966
- Tangible fixed assets -€80,300
down €80,300 (-3.2%), from €2.5m to €2.4m
of which Plant, machinery and equipment: -€159,101
- Debts after one year -€584,285
down €584,285 (-42.8%), from €1.4m to €780,000
- Other debts -€541,551
down €541,551 (-60.0%), from €902,218 to €360,667
- Reserves +€345,318
up €345,318 (+46.2%), from €747,558 to €1.1m
of which Tax-exempt reserves: +€210,500
- Current portion of long-term debt -€107,143
down €107,143 (-47.2%), from €227,143 to €120,000
- Trade debts -€76,380
down €76,380 (-21.5%), from €354,693 to €278,313
- Depreciation +€29,934
up €29,934 (+8.6%), from €347,132 to €377,066
- Taxes +€26,321
up €26,321 (+24.8%), from €106,020 to €132,341
- Financial charges -€16,477
down €16,477 (-21.6%), from €76,362 to €59,885
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 | €3,949,180 | €3,027,993 | -€921,187 | -23.3% |
| Fixed assets | 21/28 | €2,511,848 | €2,431,548 | -€80,300 | -3.2% |
| Tangible fixed assets | 22/27 | €2,511,848 | €2,431,548 | -€80,300 | -3.2% |
| Land and buildings | 22 | €769,300 | €763,636 | -€5,664 | -0.7% |
| Plant, machinery and equipment | 23 | €1,721,406 | €1,562,306 | -€159,101 | -9.2% |
| Furniture and vehicles | 24 | €21,142 | €105,607 | +€84,465 | +400% |
| Current assets | 29/58 | €1,437,332 | €596,445 | -€840,887 | -58.5% |
| Amounts receivable within one year | 40/41 | €1,052,808 | €422,442 | -€630,366 | -59.9% |
| Trade receivables | 40 | €1,045,832 | €415,466 | -€630,366 | -60.3% |
| Other amounts receivable | 41 | €6,976 | €6,976 | = | 0.0% |
| Current investments | 50/53 | €100 | €100 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €142,818 | €172,936 | +€30,118 | +21.1% |
| Deferred charges and accrued income | 490/1 | €241,606 | €966 | -€240,640 | -99.6% |
| Total equity and liabilities | 10/49 | €3,949,180 | €3,027,993 | -€921,187 | -23.3% |
| Equity | 10/15 | €979,408 | €1,324,726 | +€345,318 | +35.3% |
| Contributions | 10/11 | €108,600 | €108,600 | = | 0.0% |
| Revaluation surpluses | 12 | €123,250 | €123,250 | = | 0.0% |
| Reserves | 13 | €747,558 | €1,092,876 | +€345,318 | +46.2% |
| Non-distributable reserves | 130/1 | €1,000 | €0 | -€1,000 | -100% |
| Reserves not available under the articles | 1311 | €1,000 | €0 | -€1,000 | -100% |
| Tax-exempt reserves | 132 | - | €210,500 | +€210,500 | |
| Distributable reserves | 133 | €746,558 | €882,376 | +€135,818 | +18.2% |
| Amounts payable | 17/49 | €2,969,772 | €1,703,266 | -€1.3m | -42.6% |
| Amounts payable after more than one year | 17 | €1,364,285 | €780,000 | -€584,285 | -42.8% |
| Financial debts | 170/4 | €1,364,285 | €780,000 | -€584,285 | -42.8% |
| Amounts payable within one year | 42/48 | €1,605,397 | €901,569 | -€703,828 | -43.8% |
| Current portion of amounts payable after more than one year | 42 | €227,143 | €120,000 | -€107,143 | -47.2% |
| Trade debts | 44 | €354,693 | €278,313 | -€76,380 | -21.5% |
| Suppliers | 440/4 | €354,693 | €278,313 | -€76,380 | -21.5% |
| Taxes, remuneration and social security | 45 | €121,343 | €142,589 | +€21,246 | +17.5% |
| Taxes | 450/3 | €121,343 | €142,589 | +€21,246 | +17.5% |
| Other amounts payable | 47/48 | €902,218 | €360,667 | -€541,551 | -60.0% |
| Accrued charges and deferred income | 492/3 | €89 | €21,697 | +€21,608 | +24,279% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €347,132 | €377,066 | +€29,934 | +8.6% |
| Other operating charges | 640/8 | €8,479 | €8,880 | +€401 | +4.7% |
| Gross operating margin | 9900 | €928,438 | €922,582 | -€5,856 | -0.6% |
| Operating profit (loss) | 9901 | €572,827 | €536,636 | -€36,191 | -6.3% |
| Financial income | 75/76B | €326 | €908 | +€581 | +178% |
| Recurring financial income | 75 | €326 | €908 | +€581 | +178% |
| Financial charges | 65/66B | €76,362 | €59,885 | -€16,477 | -21.6% |
| Recurring financial charges | 65 | €76,362 | €59,885 | -€16,477 | -21.6% |
| Profit (loss) for the period before taxes | 9903 | €496,791 | €477,659 | -€19,132 | -3.9% |
| Income taxes | 67/77 | €106,020 | €132,341 | +€26,321 | +24.8% |
| Profit (loss) for the period | 9904 | €390,771 | €345,318 | -€45,453 | -11.6% |
| Transfer to tax-exempt reserves | 689 | - | €210,500 | +€210,500 | |
| Profit (loss) for the period to be appropriated | 9905 | €390,771 | €134,818 | -€255,953 | -65.5% |
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.