VUNDELINCKX: 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.
VUNDELINCKX
Largest movements
- Cash -€57,035
down €57,035 (-62.4%), from €91,354 to €34,319
mainly Net result for the year (-€40,850) and Stocks and contracts (-€25,150)
- Tangible fixed assets -€32,360
down €32,360 (-6.5%), from €499,672 to €467,312
of which Land and buildings: -€26,794
- Stocks and contracts +€25,150
up €25,150 (+27.1%), from €92,940 to €118,090
- Receivables within one year -€13,455
down €13,455 (-92.3%), from €14,575 to €1,120
of which Trade receivables: -€11,281
- Profit (loss) carried forward -€40,850
down €40,850 (-653%), from -€6,254 to -€47,104
- Debts after one year -€19,928
down €19,928 (-5.5%), from €362,221 to €342,292
- Other debts -€17,759
down €17,759 (-14.4%), from €123,429 to €105,670
- Gross operating margin -€27,622
down €27,622 (-51.1%), from €54,046 to €26,424
- Depreciation -€3,527
down €3,527 (-9.8%), from €35,886 to €32,360
- Staff costs +€2,925
up €2,925 (+35.0%), from €8,359 to €11,284
- Financial income -€709
down €709 (-38.5%), from €1,843 to €1,133
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 | €698,907 | €621,325 | -€77,582 | -11.1% |
| Fixed assets | 21/28 | €499,732 | €467,372 | -€32,360 | -6.5% |
| Tangible fixed assets | 22/27 | €499,672 | €467,312 | -€32,360 | -6.5% |
| Land and buildings | 22 | €482,297 | €455,503 | -€26,794 | -5.6% |
| Plant, machinery and equipment | 23 | €11,633 | €8,366 | -€3,267 | -28.1% |
| Furniture and vehicles | 24 | €3,254 | €1,350 | -€1,904 | -58.5% |
| Other tangible fixed assets | 26 | €2,489 | €2,094 | -€395 | -15.9% |
| Financial fixed assets | 28 | €60 | €60 | = | 0.0% |
| Current assets | 29/58 | €199,175 | €153,953 | -€45,222 | -22.7% |
| Stocks and contracts in progress | 3 | €92,940 | €118,090 | +€25,150 | +27.1% |
| Stocks | 30/36 | €92,940 | €118,090 | +€25,150 | +27.1% |
| Amounts receivable within one year | 40/41 | €14,575 | €1,120 | -€13,455 | -92.3% |
| Trade receivables | 40 | €12,401 | €1,120 | -€11,281 | -91.0% |
| Other amounts receivable | 41 | €2,174 | €0 | -€2,174 | -100% |
| Cash at bank and in hand | 54/58 | €91,354 | €34,319 | -€57,035 | -62.4% |
| Deferred charges and accrued income | 490/1 | €306 | €424 | +€118 | +38.4% |
| Total equity and liabilities | 10/49 | €698,907 | €621,325 | -€77,582 | -11.1% |
| Equity | 10/15 | €177,989 | €137,138 | -€40,850 | -23.0% |
| Contributions | 10/11 | €115,000 | €115,000 | = | 0.0% |
| Reserves | 13 | €69,243 | €69,243 | = | 0.0% |
| Distributable reserves | 133 | €69,243 | €69,243 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,254 | -€47,104 | -€40,850 | -653% |
| Amounts payable | 17/49 | €520,918 | €484,187 | -€36,732 | -7.1% |
| Amounts payable after more than one year | 17 | €362,221 | €342,292 | -€19,928 | -5.5% |
| Financial debts | 170/4 | €362,221 | €342,292 | -€19,928 | -5.5% |
| Amounts payable within one year | 42/48 | €156,645 | €140,141 | -€16,503 | -10.5% |
| Current portion of amounts payable after more than one year | 42 | €19,906 | €19,928 | +€22 | +0.1% |
| Trade debts | 44 | €6,577 | €6,907 | +€330 | +5.0% |
| Suppliers | 440/4 | €6,577 | €6,907 | +€330 | +5.0% |
| Taxes, remuneration and social security | 45 | €6,733 | €7,636 | +€903 | +13.4% |
| Taxes | 450/3 | €1,541 | €3,736 | +€2,194 | +142% |
| Remuneration and social security | 454/9 | €5,191 | €3,901 | -€1,291 | -24.9% |
| Other amounts payable | 47/48 | €123,429 | €105,670 | -€17,759 | -14.4% |
| Accrued charges and deferred income | 492/3 | €2,053 | €1,753 | -€300 | -14.6% |
| Remuneration, social security and pensions | 62 | €8,359 | €11,284 | +€2,925 | +35.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,886 | €32,360 | -€3,527 | -9.8% |
| Other operating charges | 640/8 | €5,627 | €5,477 | -€150 | -2.7% |
| Gross operating margin | 9900 | €54,046 | €26,424 | -€27,622 | -51.1% |
| Operating profit (loss) | 9901 | €4,174 | -€22,696 | -€26,870 | |
| Financial income | 75/76B | €1,843 | €1,133 | -€709 | -38.5% |
| Recurring financial income | 75 | €1,843 | €1,133 | -€709 | -38.5% |
| Financial charges | 65/66B | €19,426 | €18,987 | -€438 | -2.3% |
| Recurring financial charges | 65 | €19,426 | €18,987 | -€438 | -2.3% |
| Profit (loss) for the period before taxes | 9903 | -€13,409 | -€40,550 | -€27,141 | -202% |
| Income taxes | 67/77 | €307 | €300 | -€7 | -2.3% |
| Profit (loss) for the period | 9904 | -€13,716 | -€40,850 | -€27,134 | -198% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,716 | -€40,850 | -€27,134 | -198% |
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 29 October 2026 via checked.be.