VONDEL: what changed
Two fiscal 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.
VONDEL
Largest movements
- Cash +€27,643
up €27,643 (+34.7%), from €79,582 to €107,226
mainly Net result for the year (+€18,604) and Depreciation (+€7,718)
- Tangible fixed assets -€7,718
down €7,718 (-10.5%), from €73,252 to €65,534
- Reserves +€18,604
up €18,604 (+22.7%), from €81,917 to €100,521
of which Distributable reserves: +€18,604
- Gross operating margin +€514
up €514 (+1.4%), from €37,464 to €37,978
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.
Cash bridge derived
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 | €156,831 | €176,220 | +€19,389 | +12.4% |
| Fixed assets | 21/28 | €73,252 | €65,534 | -€7,718 | -10.5% |
| Tangible fixed assets | 22/27 | €73,252 | €65,534 | -€7,718 | -10.5% |
| Land and buildings | 22 | €73,252 | €65,534 | -€7,718 | -10.5% |
| Current assets | 29/58 | €83,580 | €110,687 | +€27,107 | +32.4% |
| Amounts receivable within one year | 40/41 | €1,378 | €774 | -€604 | -43.9% |
| Other amounts receivable | 41 | €1,378 | €774 | -€604 | -43.9% |
| Cash at bank and in hand | 54/58 | €79,582 | €107,226 | +€27,643 | +34.7% |
| Deferred charges and accrued income | 490/1 | €2,620 | €2,688 | +€68 | +2.6% |
| Total equity and liabilities | 10/49 | €156,831 | €176,220 | +€19,389 | +12.4% |
| Equity | 10/15 | €143,417 | €162,021 | +€18,604 | +13.0% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €81,917 | €100,521 | +€18,604 | +22.7% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €75,767 | €94,371 | +€18,604 | +24.6% |
| Amounts payable | 17/49 | €13,414 | €14,199 | +€785 | +5.9% |
| Amounts payable after more than one year | 17 | €7,500 | €7,500 | = | 0.0% |
| Other amounts payable | 178/9 | €7,500 | €7,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €2,387 | €3,097 | +€709 | +29.7% |
| Financial debts | 43 | €2,387 | €2,371 | -€17 | -0.7% |
| Credit institutions | 430/8 | €2,387 | €2,371 | -€17 | -0.7% |
| Trade debts | 44 | - | €726 | +€726 | |
| Suppliers | 440/4 | - | €726 | +€726 | |
| Accrued charges and deferred income | 492/3 | €3,527 | €3,603 | +€76 | +2.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,718 | €7,718 | = | 0.0% |
| Other operating charges | 640/8 | €4,858 | €5,010 | +€152 | +3.1% |
| Gross operating margin | 9900 | €37,464 | €37,978 | +€514 | +1.4% |
| Operating profit (loss) | 9901 | €24,888 | €25,250 | +€363 | +1.5% |
| Financial charges | 65/66B | €376 | €420 | +€44 | +11.7% |
| Recurring financial charges | 65 | €376 | €420 | +€44 | +11.7% |
| Profit (loss) for the period before taxes | 9903 | €24,512 | €24,830 | +€319 | +1.3% |
| Income taxes | 67/77 | €6,169 | €6,226 | +€57 | +0.9% |
| Profit (loss) for the period | 9904 | €18,342 | €18,604 | +€262 | +1.4% |
| Profit (loss) for the period to be appropriated | 9905 | €18,342 | €18,604 | +€262 | +1.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.