VAN2
Annual accounts 2025
micro format, filed on 09-07-2026, 14 days before the deadlineTurnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €46,000. Estimated: probably between €21,000 and €110,000.
Balance sheet
balance sheet total €11,603 on 23-12-2025Change in equityin euro
Change in cashin euro
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 |
|---|---|---|---|
| Balance sheet: assets | |||
Total assets20/58 |
11,603 | 22,800 | |
Fixed assets21/28 |
- | 5,002 | |
Intangible fixed assets21 |
- | 5,002 | |
Current assets29/58 |
11,603 | 17,798 | |
Amounts receivable within one year40/41 |
2,975 | 7,578 | |
Trade receivables40 |
2,950 | 5,440 | |
Other amounts receivable41 |
25 | 2,138 | |
Cash at bank and in hand54/58 |
8,628 | 10,220 | |
| Balance sheet: equity and liabilities | |||
Total equity and liabilities10/49 |
11,603 | 22,800 | |
Equity10/15 |
-1,025 | -2,008 | |
Contributions10/11 |
1,000 | 1,000 | |
Profit (loss) carried forward14 |
-2,025 | -3,008 | |
Amounts payable17/49 |
12,628 | 24,809 | |
Amounts payable within one year42/48 |
12,628 | 24,809 | |
Trade debts44 |
- | 12,181 | |
Suppliers440/4 |
- | 12,181 | |
Other amounts payable47/48 |
12,628 | 12,628 | |
| Income statement | |||
Gross operating margin9900 |
6,031 | -358 | |
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 |
1,520 | 1,838 | |
Other operating charges640/8 |
- | 772 | |
Non-recurring operating charges66A |
3,482 | - | |
Operating profit (loss)9901 |
1,029 | -2,968 | |
Financial charges65/66B |
45 | 41 | |
Recurring financial charges65 |
45 | 41 | |
Profit (loss) for the period before taxes9903 |
984 | -3,008 | |
Profit (loss) for the period9904 |
984 | -3,008 | |
Profit (loss) for the period to be appropriated9905 |
984 | -3,008 | |
| Appropriation of the result | |||
Profit (loss) to be appropriated9906 |
-2,025 | -3,008 | |
Profit (loss) brought forward from the previous period14P |
-3,008 | - | |
| Document | |||
The notes to these accounts have 5 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 09-07-2026.
Filings
each dot is a set of accounts, on the day it reached the National BankKey figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 |
|---|---|---|---|
| EBITDA | 2,549 | -1,130 | |
| Cash flow | 2,504 | -1,171 | |
| Investment in fixed assets (approximation) | -3,482 | 6,840 | |
| Change in cash | -1,591 | - | |
| Working capital | -1,025 | -7,011 | |
| Solvency | -8.8% | -8.8% | |
| Current ratio | 0.92 | 0.72 | |
| ROA | 8.5% | -13.2% | |
| Interest coverage | 56.39 | -27.73 |
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Investments
fixed assets acquired| Item | 23-12-2025 | 2024 |
|---|---|---|
| Intangible fixed assets | - | €6,840 |
| Depreciation and write-downs of the year | €1,520 | €1,838 |
Source: notes to the 2024 to 2025 annual accounts (statement of fixed assets)
Insights on VAN2
The operating result for 2025 is a profit of €1,029, after a loss of €2,968 in 2024.
Equity is negative. Debt (€12,628) exceeds the balance-sheet total (€11,603).