VANDUFFEL - BEHEER: 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.
VANDUFFEL - BEHEER
Largest movements
- Cash -€120,603
down €120,603 (-81.0%), from €148,822 to €28,220
mainly Other debts (-€129,030) and Debts after one year (-€128,823)
- Tangible fixed assets -€79,386
down €79,386 (-4.3%), from €1.9m to €1.8m
- Other debts -€129,030
down €129,030 (-94.4%), from €136,650 to €7,620
- Debts after one year -€128,823
down €128,823 (-12.3%), from €1.0m to €920,329
of which Financial debts: -€132,483
- Reserves +€49,709
up €49,709 (+10.3%), from €481,158 to €530,867
of which Distributable reserves: +€53,599
- Financial income +€20,215
up €20,215 (+749%), from €2,700 to €22,916
- Gross operating margin +€10,013
up €10,013 (+6.0%), from €167,150 to €177,162
- Taxes +€4,829
up €4,829 (+35.6%), from €13,576 to €18,404
- Financial charges -€2,273
down €2,273 (-9.6%), from €23,782 to €21,509
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 | €2,449,706 | €2,242,706 | -€206,999 | -8.4% |
| Fixed assets | 21/28 | €2,190,955 | €2,111,568 | -€79,386 | -3.6% |
| Tangible fixed assets | 22/27 | €1,857,005 | €1,777,618 | -€79,386 | -4.3% |
| Land and buildings | 22 | €1,857,005 | €1,777,618 | -€79,386 | -4.3% |
| Financial fixed assets | 28 | €333,950 | €333,950 | = | 0.0% |
| Current assets | 29/58 | €258,751 | €131,138 | -€127,613 | -49.3% |
| Amounts receivable within one year | 40/41 | €106,471 | €102,144 | -€4,328 | -4.1% |
| Trade receivables | 40 | €3,150 | - | -€3,150 | |
| Other amounts receivable | 41 | €103,321 | €102,144 | -€1,177 | -1.1% |
| Cash at bank and in hand | 54/58 | €148,822 | €28,220 | -€120,603 | -81.0% |
| Deferred charges and accrued income | 490/1 | €3,457 | €775 | -€2,682 | -77.6% |
| Total equity and liabilities | 10/49 | €2,449,706 | €2,242,706 | -€206,999 | -8.4% |
| Equity | 10/15 | €1,085,317 | €1,135,026 | +€49,709 | +4.6% |
| Contributions | 10/11 | €260,000 | €260,000 | = | 0.0% |
| Capital | 10 | €260,000 | €260,000 | = | 0.0% |
| Issued capital | 100 | €260,000 | €260,000 | = | 0.0% |
| Reserves | 13 | €481,158 | €530,867 | +€49,709 | +10.3% |
| Non-distributable reserves | 130/1 | €26,000 | €26,000 | = | 0.0% |
| Legal reserve | 130 | €26,000 | €26,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €90,440 | €86,550 | -€3,890 | -4.3% |
| Distributable reserves | 133 | €364,718 | €418,317 | +€53,599 | +14.7% |
| Profit (loss) carried forward | 14 | €344,159 | €344,159 | = | 0.0% |
| Provisions and deferred taxes | 16 | €29,500 | €28,203 | -€1,297 | -4.4% |
| Deferred taxes | 168 | €29,500 | €28,203 | -€1,297 | -4.4% |
| Amounts payable | 17/49 | €1,334,889 | €1,079,477 | -€255,411 | -19.1% |
| Amounts payable after more than one year | 17 | €1,049,151 | €920,329 | -€128,823 | -12.3% |
| Financial debts | 170/4 | €1,046,291 | €913,809 | -€132,483 | -12.7% |
| Other amounts payable | 178/9 | €2,860 | €6,520 | +€3,660 | +128% |
| Amounts payable within one year | 42/48 | €280,096 | €153,507 | -€126,589 | -45.2% |
| Current portion of amounts payable after more than one year | 42 | €129,480 | €132,483 | +€3,003 | +2.3% |
| Trade debts | 44 | €390 | - | -€390 | |
| Suppliers | 440/4 | €390 | - | -€390 | |
| Taxes, remuneration and social security | 45 | €13,576 | €13,404 | -€172 | -1.3% |
| Taxes | 450/3 | €13,576 | €13,404 | -€172 | -1.3% |
| Other amounts payable | 47/48 | €136,650 | €7,620 | -€129,030 | -94.4% |
| Accrued charges and deferred income | 492/3 | €5,642 | €5,642 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €82,575 | €82,778 | +€203 | +0.2% |
| Other operating charges | 640/8 | €27,766 | €28,975 | +€1,209 | +4.4% |
| Gross operating margin | 9900 | €167,150 | €177,162 | +€10,013 | +6.0% |
| Operating profit (loss) | 9901 | €56,809 | €65,410 | +€8,601 | +15.1% |
| Financial income | 75/76B | €2,700 | €22,916 | +€20,215 | +749% |
| Recurring financial income | 75 | €2,700 | €22,916 | +€20,215 | +749% |
| Financial charges | 65/66B | €23,782 | €21,509 | -€2,273 | -9.6% |
| Recurring financial charges | 65 | €23,782 | €21,509 | -€2,273 | -9.6% |
| Profit (loss) for the period before taxes | 9903 | €35,728 | €66,816 | +€31,088 | +87.0% |
| Transfer from deferred taxes | 780 | €5,187 | €5,187 | = | 0.0% |
| Income taxes | 67/77 | €13,576 | €18,404 | +€4,829 | +35.6% |
| Profit (loss) for the period | 9904 | €27,339 | €53,599 | +€26,260 | +96.1% |
| Profit (loss) for the period to be appropriated | 9905 | €27,339 | €53,599 | +€26,260 | +96.1% |
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 25 October 2026 via checked.be.