VANMAELE: 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.
VANMAELE
Largest movements
- Tangible fixed assets -€481,136
down €481,136 (-27.0%), from €1.8m to €1.3m
of which Land and buildings: -€498,991
- Receivables within one year +€387,018
up €387,018 (+177%), from €218,672 to €605,690
of which Trade receivables: +€245,598
- Financial fixed assets -€164,320
down €164,320 (-56.7%), from €289,692 to €125,372
- Other debts -€454,050
down €454,050 (-26.3%), from €1.7m to €1.3m
- Current portion of long-term debt -€190,124
no longer reported in 2024 (was €190,124)
- Reserves +€180,113
up €180,113 (+67.2%), from €267,864 to €447,977
of which Tax-exempt reserves: +€180,113
- Profit (loss) carried forward +€133,937
up €133,937 (+55.2%), from -€242,455 to -€108,518
- Tax, wage and social debts +€90,912
up €90,912 (+53.5%), from €169,807 to €260,719
of which Taxes: +€94,214
- Gross operating margin +€553,854
up €553,854 (+1,065%), from €52,024 to €605,878
- Taxes -€35,211
down €35,211 (-56.8%), from €62,036 to €26,825
- Staff costs -€23,561
down €23,561 (-26.0%), from €90,611 to €67,050
- Financial charges +€17,192
up €17,192 (+26.3%), from €65,252 to €82,444
- Financial income +€16,110
up €16,110 (+58.7%), from €27,435 to €43,545
of which Non-recurring financial income: +€40,070
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,303,482 | €2,054,594 | -€248,887 | -10.8% |
| Fixed assets | 21/28 | €2,073,902 | €1,428,445 | -€645,456 | -31.1% |
| Tangible fixed assets | 22/27 | €1,784,209 | €1,303,073 | -€481,136 | -27.0% |
| Land and buildings | 22 | €1,574,639 | €1,075,648 | -€498,991 | -31.7% |
| Furniture and vehicles | 24 | €38,256 | €67,052 | +€28,796 | +75.3% |
| Other tangible fixed assets | 26 | €171,315 | €160,373 | -€10,942 | -6.4% |
| Financial fixed assets | 28 | €289,692 | €125,372 | -€164,320 | -56.7% |
| Current assets | 29/58 | €229,580 | €626,149 | +€396,569 | +173% |
| Amounts receivable within one year | 40/41 | €218,672 | €605,690 | +€387,018 | +177% |
| Trade receivables | 40 | €93,689 | €339,288 | +€245,598 | +262% |
| Other amounts receivable | 41 | €124,983 | €266,402 | +€141,420 | +113% |
| Cash at bank and in hand | 54/58 | €1,287 | €512 | -€775 | -60.2% |
| Deferred charges and accrued income | 490/1 | €9,621 | €19,947 | +€10,326 | +107% |
| Total equity and liabilities | 10/49 | €2,303,482 | €2,054,594 | -€248,887 | -10.8% |
| Equity | 10/15 | €44,609 | €358,660 | +€314,050 | +704% |
| Contributions | 10/11 | €19,200 | €19,200 | = | 0.0% |
| Reserves | 13 | €267,864 | €447,977 | +€180,113 | +67.2% |
| Non-distributable reserves | 130/1 | €1,920 | €1,920 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,920 | €1,920 | = | 0.0% |
| Tax-exempt reserves | 132 | €72,959 | €253,072 | +€180,113 | +247% |
| Distributable reserves | 133 | €192,985 | €192,985 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€242,455 | -€108,518 | +€133,937 | +55.2% |
| Provisions and deferred taxes | 16 | €12,398 | €72,436 | +€60,038 | +484% |
| Deferred taxes | 168 | €12,398 | €72,436 | +€60,038 | +484% |
| Amounts payable | 17/49 | €2,246,475 | €1,623,499 | -€622,976 | -27.7% |
| Amounts payable after more than one year | 17 | €127,189 | €39,541 | -€87,648 | -68.9% |
| Financial debts | 170/4 | €127,189 | €39,541 | -€87,648 | -68.9% |
| Amounts payable within one year | 42/48 | €2,117,661 | €1,581,108 | -€536,553 | -25.3% |
| Current portion of amounts payable after more than one year | 42 | €190,124 | - | -€190,124 | |
| Financial debts | 43 | €45 | - | -€45 | |
| Credit institutions | 430/8 | €45 | - | -€45 | |
| Trade debts | 44 | €32,780 | €49,534 | +€16,754 | +51.1% |
| Suppliers | 440/4 | €32,780 | €49,534 | +€16,754 | +51.1% |
| Taxes, remuneration and social security | 45 | €169,807 | €260,719 | +€90,912 | +53.5% |
| Taxes | 450/3 | €139,329 | €233,543 | +€94,214 | +67.6% |
| Remuneration and social security | 454/9 | €30,478 | €27,176 | -€3,302 | -10.8% |
| Other amounts payable | 47/48 | €1,724,905 | €1,270,855 | -€454,050 | -26.3% |
| Accrued charges and deferred income | 492/3 | €1,625 | €2,850 | +€1,225 | +75.4% |
| Non-recurring operating income | 76A | €852 | €242,912 | +€242,060 | +28,415% |
| Remuneration, social security and pensions | 62 | €90,611 | €67,050 | -€23,561 | -26.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €73,585 | €62,278 | -€11,307 | -15.4% |
| Other operating charges | 640/8 | €32,817 | €36,738 | +€3,921 | +11.9% |
| Gross operating margin | 9900 | €52,024 | €605,878 | +€553,854 | +1,065% |
| Operating profit (loss) | 9901 | -€144,989 | €439,812 | +€584,801 | |
| Financial income | 75/76B | €27,435 | €43,545 | +€16,110 | +58.7% |
| Recurring financial income | 75 | €27,435 | €3,475 | -€23,960 | -87.3% |
| Non-recurring financial income | 76B | - | €40,070 | +€40,070 | |
| Financial charges | 65/66B | €65,252 | €82,444 | +€17,192 | +26.3% |
| Recurring financial charges | 65 | €65,252 | €82,444 | +€17,192 | +26.3% |
| Profit (loss) for the period before taxes | 9903 | -€182,806 | €400,913 | +€583,719 | |
| Transfer from deferred taxes | 780 | €597 | €690 | +€93 | +15.7% |
| Transfer to deferred taxes | 680 | - | €60,728 | +€60,728 | |
| Income taxes | 67/77 | €62,036 | €26,825 | -€35,211 | -56.8% |
| Profit (loss) for the period | 9904 | -€244,245 | €314,050 | +€558,295 | |
| Transfer from tax-exempt reserves | 789 | €1,790 | €2,071 | +€280 | +15.7% |
| Transfer to tax-exempt reserves | 689 | - | €182,184 | +€182,184 | |
| Profit (loss) for the period to be appropriated | 9905 | -€242,455 | €133,937 | +€376,392 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.