VINDEVOGEL FLANDERS: 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.
What changed
VINDEVOGEL FLANDERS
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€700,420
2024 · €613,643+€86,777
Equity
€3.7m
2024 · €3.0m+€700,420
Cash
€27,227
2024 · €122,776-€95,549
Balance sheet total
€12.5m
2024 · €13.0m-€419,646
Largest movements
Assets
- Receivables within one year -€323,997
down €323,997 (-66.5%), from €486,887 to €162,890
of which Other amounts receivable: -€348,721
Equity and liabilities
- Reserves +€700,420
up €700,420 (+35.4%), from €2.0m to €2.7m
- Debts after one year -€512,269
down €512,269 (-7.1%), from €7.2m to €6.7m
- Short-term financial debts -€400,000
down €400,000 (-23.5%), from €1.7m to €1.3m
- Other debts -€229,359
down €229,359 (-99.9%), from €229,648 to €289
Income statement
- Financial charges -€66,139
down €66,139 (-20.1%), from €328,752 to €262,612
- Turnover +€50,145
up €50,145 (+7.0%), from €718,771 to €768,916
- Services and other goods +€44,296
up €44,296 (+12.9%), from €342,888 to €387,184
- Financial income +€39,239
up €39,239 (+5.6%), from €705,198 to €744,436
- Other operating income -€20,340
down €20,340 (-75.9%), from €26,809 to €6,470
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.
Result 2024
€613,643
Turnover
+€50,145
Other operating income
-€20,340
Services and other goods
-€44,296
Staff costs
-€4,574
Other operating charges
+€397
Financial income
+€39,239
Financial charges
+€66,139
Taxes
+€67
Result 2025
€700,420
raises the resultlowers the result
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.
From operations
+€811,749
Investment
€0
Financing
-€907,298
Cash 2024
€122,776
From operations (derived)
+€811,749
Net result for the year
+€700,420
Depreciation
+€926
Receivables within one year
+€323,997
Deferred charges and accrued income
-€826
Trade debts
+€17,107
Tax, wage and social debts
+€2,837
Other debts
-€229,359
Accrued charges and deferred income
-€3,353
Financing
-€907,298
Debts after one year
-€512,269
Current portion of long-term debt
+€4,971
Short-term financial debts
-€400,000
Cash 2025
€27,227
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €12,966,175 | €12,546,529 | -€419,646 | -3.2% |
| Fixed assets | 21/28 | €12,356,512 | €12,355,586 | -€926 | 0.0% |
| Tangible fixed assets | 22/27 | €18,880 | €17,953 | -€926 | -4.9% |
| Land and buildings | 22 | €18,880 | €17,953 | -€926 | -4.9% |
| Financial fixed assets | 28 | €12,337,632 | €12,337,632 | = | 0.0% |
| Affiliated companies | 280/1 | €12,337,632 | €12,337,632 | = | 0.0% |
| Participating interests | 280 | €12,337,632 | €12,337,632 | = | 0.0% |
| Current assets | 29/58 | €609,663 | €190,943 | -€418,720 | -68.7% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €486,887 | €162,890 | -€323,997 | -66.5% |
| Trade receivables | 40 | €74,446 | €99,170 | +€24,724 | +33.2% |
| Other amounts receivable | 41 | €412,441 | €63,720 | -€348,721 | -84.6% |
| Cash at bank and in hand | 54/58 | €122,776 | €27,227 | -€95,549 | -77.8% |
| Deferred charges and accrued income | 490/1 | - | €826 | +€826 | |
| Total equity and liabilities | 10/49 | €12,966,175 | €12,546,529 | -€419,646 | -3.2% |
| Equity | 10/15 | €2,977,158 | €3,677,578 | +€700,420 | +23.5% |
| Contributions | 10/11 | €1,000,000 | €1,000,000 | = | 0.0% |
| Reserves | 13 | €1,977,158 | €2,677,578 | +€700,420 | +35.4% |
| Distributable reserves | 133 | €1,977,158 | €2,677,578 | +€700,420 | +35.4% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €9,989,017 | €8,868,951 | -€1.1m | -11.2% |
| Amounts payable after more than one year | 17 | €7,212,269 | €6,700,000 | -€512,269 | -7.1% |
| Financial debts | 170/4 | €7,212,269 | €6,700,000 | -€512,269 | -7.1% |
| Credit institutions | 173 | €512,269 | €0 | -€512,269 | -100% |
| Other loans | 174 | €6,700,000 | €6,700,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €2,562,840 | €1,958,396 | -€604,444 | -23.6% |
| Current portion of amounts payable after more than one year | 42 | €507,298 | €512,269 | +€4,971 | +1.0% |
| Financial debts | 43 | €1,700,000 | €1,300,000 | -€400,000 | -23.5% |
| Credit institutions | 430/8 | €1,700,000 | €1,300,000 | -€400,000 | -23.5% |
| Trade debts | 44 | €31,378 | €48,485 | +€17,107 | +54.5% |
| Suppliers | 440/4 | €31,378 | €48,485 | +€17,107 | +54.5% |
| Taxes, remuneration and social security | 45 | €94,516 | €97,352 | +€2,837 | +3.0% |
| Taxes | 450/3 | €60,545 | €63,022 | +€2,478 | +4.1% |
| Remuneration and social security | 454/9 | €33,971 | €34,330 | +€359 | +1.1% |
| Other amounts payable | 47/48 | €229,648 | €289 | -€229,359 | -99.9% |
| Accrued charges and deferred income | 492/3 | €213,908 | €210,555 | -€3,353 | -1.6% |
| Operating income | 70/76A | €745,580 | €775,386 | +€29,805 | +4.0% |
| Turnover | 70 | €718,771 | €768,916 | +€50,145 | +7.0% |
| Other operating income | 74 | €26,809 | €6,470 | -€20,340 | -75.9% |
| Operating charges | 60/66A | €508,086 | €556,560 | +€48,474 | +9.5% |
| Services and other goods | 61 | €342,888 | €387,184 | +€44,296 | +12.9% |
| Remuneration, social security and pensions | 62 | €162,180 | €166,755 | +€4,574 | +2.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €926 | €926 | = | 0.0% |
| Other operating charges | 640/8 | €2,091 | €1,695 | -€397 | -19.0% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Operating profit (loss) | 9901 | €237,494 | €218,826 | -€18,669 | -7.9% |
| Financial income | 75/76B | €705,198 | €744,436 | +€39,239 | +5.6% |
| Recurring financial income | 75 | €705,198 | €744,436 | +€39,239 | +5.6% |
| Income from financial fixed assets | 750 | €705,198 | €744,436 | +€39,239 | +5.6% |
| Financial charges | 65/66B | €328,752 | €262,612 | -€66,139 | -20.1% |
| Recurring financial charges | 65 | €328,752 | €262,612 | -€66,139 | -20.1% |
| Debt charges | 650 | €327,248 | €261,961 | -€65,287 | -20.0% |
| Other financial charges | 652/9 | €1,504 | €652 | -€852 | -56.7% |
| Profit (loss) for the period before taxes | 9903 | €613,940 | €700,650 | +€86,709 | +14.1% |
| Income taxes | 67/77 | €297 | €230 | -€67 | -22.7% |
| Taxes | 670/3 | €297 | €230 | -€67 | -22.7% |
| Tax adjustments and reversals of tax provisions | 77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | €613,643 | €700,420 | +€86,777 | +14.1% |
| Profit (loss) for the period to be appropriated | 9905 | €613,643 | €700,420 | +€86,777 | +14.1% |
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 24 October 2026 via checked.be.