Vanelderen Management: 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.
Vanelderen Management
Largest movements
- Cash +€189,325
up €189,325 (+25.5%), from €742,649 to €931,974
mainly Investment in fixed assets (net) (+€120,000) and Net result for the year (+€50,257)
- Financial fixed assets -€120,000
down €120,000 (-34.2%), from €350,624 to €230,624
- Reserves +€50,257
up €50,257 (+4.8%), from €1.0m to €1.1m
of which Distributable reserves: +€176,557
- Tax, wage and social debts +€17,340
up €17,340 (+173%), from €9,998 to €27,339
- Gross operating margin -€8,693
down €8,693 (-8.3%), from €104,793 to €96,099
- Taxes +€5,688
up €5,688 (+19.5%), from €29,216 to €34,904
- Write-downs -€2,849
down €2,849 (-100%), from €2,849 to €0
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 | €1,146,076 | €1,203,725 | +€57,648 | +5.0% |
| Fixed assets | 21/28 | €391,598 | €269,937 | -€121,661 | -31.1% |
| Tangible fixed assets | 22/27 | €40,974 | €39,313 | -€1,661 | -4.1% |
| Land and buildings | 22 | €37,184 | €37,184 | = | 0.0% |
| Furniture and vehicles | 24 | €3,790 | €2,128 | -€1,661 | -43.8% |
| Financial fixed assets | 28 | €350,624 | €230,624 | -€120,000 | -34.2% |
| Current assets | 29/58 | €754,478 | €933,788 | +€179,310 | +23.8% |
| Amounts receivable within one year | 40/41 | €10,925 | €871 | -€10,055 | -92.0% |
| Trade receivables | 40 | €8,317 | €871 | -€7,447 | -89.5% |
| Other amounts receivable | 41 | €2,608 | €0 | -€2,608 | -100% |
| Cash at bank and in hand | 54/58 | €742,649 | €931,974 | +€189,325 | +25.5% |
| Deferred charges and accrued income | 490/1 | €903 | €943 | +€40 | +4.4% |
| Total equity and liabilities | 10/49 | €1,146,076 | €1,203,725 | +€57,648 | +5.0% |
| Equity | 10/15 | €1,058,324 | €1,108,580 | +€50,257 | +4.7% |
| Contributions | 10/11 | €18,601 | €18,601 | = | 0.0% |
| Reserves | 13 | €1,038,213 | €1,088,470 | +€50,257 | +4.8% |
| Non-distributable reserves | 130/1 | €22,688 | €22,688 | = | 0.0% |
| Reserves not available under the articles | 1311 | €22,688 | €22,688 | = | 0.0% |
| Tax-exempt reserves | 132 | €209,190 | €82,890 | -€126,300 | -60.4% |
| Distributable reserves | 133 | €806,335 | €982,892 | +€176,557 | +21.9% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Investment grants | 15 | €1,509 | €1,509 | = | 0.0% |
| Amounts payable | 17/49 | €87,753 | €95,144 | +€7,392 | +8.4% |
| Amounts payable within one year | 42/48 | €82,323 | €95,144 | +€12,822 | +15.6% |
| Trade debts | 44 | €353 | €1,706 | +€1,353 | +384% |
| Suppliers | 440/4 | €353 | €1,706 | +€1,353 | +384% |
| Taxes, remuneration and social security | 45 | €9,998 | €27,339 | +€17,340 | +173% |
| Taxes | 450/3 | €9,998 | €27,339 | +€17,340 | +173% |
| Other amounts payable | 47/48 | €71,971 | €66,100 | -€5,871 | -8.2% |
| Accrued charges and deferred income | 492/3 | €5,430 | €0 | -€5,430 | -100% |
| Non-recurring operating income | 76A | €72 | €0 | -€72 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,117 | €1,661 | +€544 | +48.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,849 | €0 | -€2,849 | -100% |
| Other operating charges | 640/8 | €9,747 | €9,017 | -€730 | -7.5% |
| Gross operating margin | 9900 | €104,793 | €96,099 | -€8,693 | -8.3% |
| Operating profit (loss) | 9901 | €91,079 | €85,420 | -€5,659 | -6.2% |
| Financial income | 75/76B | €72 | €0 | -€72 | -99.5% |
| Recurring financial income | 75 | €72 | €0 | -€72 | -99.5% |
| Financial charges | 65/66B | €164 | €260 | +€97 | +59.3% |
| Recurring financial charges | 65 | €164 | €260 | +€97 | +59.3% |
| Profit (loss) for the period before taxes | 9903 | €90,987 | €85,160 | -€5,827 | -6.4% |
| Income taxes | 67/77 | €29,216 | €34,904 | +€5,688 | +19.5% |
| Profit (loss) for the period | 9904 | €61,771 | €50,257 | -€11,515 | -18.6% |
| Transfer from tax-exempt reserves | 789 | €42,100 | €126,300 | +€84,200 | +200% |
| Profit (loss) for the period to be appropriated | 9905 | €103,871 | €176,557 | +€72,685 | +70.0% |
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.