VANDUBEAU: what changed
What changed
VANDUBEAU
filed annual accounts (NBB)
Net result for the year
-€8,853
2024 · €7,849-€16,702
Equity
€426,665
2024 · €435,518-€8,853
Cash
€13,004
2024 · €5,378+€7,626
Balance sheet total
€2.8m
2024 · €2.8m-€39,532
Largest movements
Assets
- Tangible fixed assets -€67,609
down €67,609 (-2.8%), from €2.4m to €2.3m
Equity and liabilities
- Debts after one year -€36,747
down €36,747 (-1.6%), from €2.3m to €2.3m
of which Financial debts: -€82,362
Income statement
- Financial income -€30,375
down €30,375 (-100.0%), from €30,375 to €0
- Financial charges -€9,969
down €9,969 (-10.9%), from €91,315 to €81,346
- Gross operating margin +€5,262
up €5,262 (+3.6%), from €144,585 to €149,846
- Turnover +€4,975
up €4,975 (+3.6%), from €140,000 to €144,975
- Other operating charges +€1,558
up €1,558 (+19.0%), from €8,187 to €9,745
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€7,849
Gross operating margin
+€5,262
Depreciation
+€0
Other operating charges
-€1,558
Financial income
-€30,375
Financial charges
+€9,969
Result 2025
-€8,853
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€59,368
Investment
-€17,500
Financing
-€34,242
Cash 2024
€5,378
From operations (derived)
+€59,368
Net result for the year
-€8,853
Depreciation
+€67,609
Deferred charges and accrued income
-€2,951
Trade debts
+€3,563
Investment (derived)
-€17,500
Investment in fixed assets (net)
-€17,500
Financing
-€34,242
Debts after one year
-€36,747
Current portion of long-term debt
+€2,505
Cash 2025
€13,004
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,819,660 | €2,780,128 | -€39,532 | -1.4% |
| Fixed assets | 21/28 | €2,808,282 | €2,758,173 | -€50,109 | -1.8% |
| Tangible fixed assets | 22/27 | €2,380,607 | €2,312,998 | -€67,609 | -2.8% |
| Land and buildings | 22 | €2,380,607 | €2,312,998 | -€67,609 | -2.8% |
| Financial fixed assets | 28 | €427,675 | €445,175 | +€17,500 | +4.1% |
| Current assets | 29/58 | €11,378 | €21,955 | +€10,577 | +93.0% |
| Amounts receivable within one year | 40/41 | €6,000 | €6,000 | = | 0.0% |
| Other amounts receivable | 41 | €6,000 | €6,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €5,378 | €13,004 | +€7,626 | +142% |
| Deferred charges and accrued income | 490/1 | - | €2,951 | +€2,951 | |
| Total equity and liabilities | 10/49 | €2,819,660 | €2,780,128 | -€39,532 | -1.4% |
| Equity | 10/15 | €435,518 | €426,665 | -€8,853 | -2.0% |
| Contributions | 10/11 | €400,000 | €400,000 | = | 0.0% |
| Reserves | 13 | €35,518 | €26,665 | -€8,853 | -24.9% |
| Distributable reserves | 133 | €35,518 | €26,665 | -€8,853 | -24.9% |
| Amounts payable | 17/49 | €2,384,142 | €2,353,463 | -€30,679 | -1.3% |
| Amounts payable after more than one year | 17 | €2,303,897 | €2,267,150 | -€36,747 | -1.6% |
| Financial debts | 170/4 | €1,525,512 | €1,443,150 | -€82,362 | -5.4% |
| Other amounts payable | 178/9 | €778,385 | €824,000 | +€45,615 | +5.9% |
| Amounts payable within one year | 42/48 | €80,245 | €86,313 | +€6,068 | +7.6% |
| Current portion of amounts payable after more than one year | 42 | €79,857 | €82,362 | +€2,505 | +3.1% |
| Trade debts | 44 | €387 | €3,951 | +€3,563 | +920% |
| Suppliers | 440/4 | €387 | €3,951 | +€3,563 | +920% |
| Turnover | 70 | €140,000 | €144,975 | +€4,975 | +3.6% |
| Non-recurring operating income | 76A | €0 | €0 | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €3,000 | €2,950 | -€49 | -1.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,609 | €67,609 | -€0 | 0.0% |
| Other operating charges | 640/8 | €8,187 | €9,745 | +€1,558 | +19.0% |
| Gross operating margin | 9900 | €144,585 | €149,846 | +€5,262 | +3.6% |
| Operating profit (loss) | 9901 | €68,789 | €72,493 | +€3,704 | +5.4% |
| Financial income | 75/76B | €30,375 | €0 | -€30,375 | -100.0% |
| Recurring financial income | 75 | €30,375 | €0 | -€30,375 | -100.0% |
| Financial charges | 65/66B | €91,315 | €81,346 | -€9,969 | -10.9% |
| Recurring financial charges | 65 | €91,315 | €81,346 | -€9,969 | -10.9% |
| Profit (loss) for the period before taxes | 9903 | €7,849 | -€8,853 | -€16,702 | |
| Profit (loss) for the period | 9904 | €7,849 | -€8,853 | -€16,702 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,849 | -€8,853 | -€16,702 |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.