JOHAN VANACKER: 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.
JOHAN VANACKER
Largest movements
- Tangible fixed assets +€7,822
up €7,822 (+1.9%), from €403,371 to €411,193
of which Other tangible fixed assets: +€7,967
- Cash -€4,666
down €4,666 (-35.1%), from €13,311 to €8,645
mainly Investment in fixed assets (net) (-€9,154) and Trade debts (-€1,494)
No liability line moved by more than 1% of the balance sheet total.
- Depreciation -€32,002
down €32,002 (-96.0%), from €33,334 to €1,332
- Gross operating margin +€1,717
up €1,717 (+82.2%), from €2,089 to €3,806
- Financial income +€89
new in 2025: €89
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 | €421,424 | €423,176 | +€1,752 | +0.4% |
| Fixed assets | 21/28 | €403,371 | €411,193 | +€7,822 | +1.9% |
| Tangible fixed assets | 22/27 | €403,371 | €411,193 | +€7,822 | +1.9% |
| Land and buildings | 22 | €396,166 | €396,166 | = | 0.0% |
| Plant, machinery and equipment | 23 | €910 | €910 | = | 0.0% |
| Furniture and vehicles | 24 | €722 | €578 | -€144 | -20.0% |
| Other tangible fixed assets | 26 | €5,573 | €13,540 | +€7,967 | +143% |
| Current assets | 29/58 | €18,052 | €11,983 | -€6,070 | -33.6% |
| Amounts receivable after more than one year | 29 | €371 | €371 | = | 0.0% |
| Other amounts receivable | 291 | €371 | €371 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €2,571 | €1,167 | -€1,404 | -54.6% |
| Other amounts receivable | 41 | €2,571 | €1,167 | -€1,404 | -54.6% |
| Cash at bank and in hand | 54/58 | €13,311 | €8,645 | -€4,666 | -35.1% |
| Deferred charges and accrued income | 490/1 | €1,800 | €1,800 | = | 0.0% |
| Total equity and liabilities | 10/49 | €421,424 | €423,176 | +€1,752 | +0.4% |
| Equity | 10/15 | €12,904 | €14,851 | +€1,946 | +15.1% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €15,935 | €15,935 | = | 0.0% |
| Tax-exempt reserves | 132 | €15,935 | €15,935 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€9,228 | -€7,282 | +€1,946 | +21.1% |
| Amounts payable | 17/49 | €408,519 | €408,325 | -€194 | 0.0% |
| Amounts payable after more than one year | 17 | €404,205 | €404,205 | = | 0.0% |
| Other amounts payable | 178/9 | €404,205 | €404,205 | = | 0.0% |
| Amounts payable within one year | 42/48 | €4,314 | €3,470 | -€844 | -19.6% |
| Trade debts | 44 | €4,314 | €2,820 | -€1,494 | -34.6% |
| Suppliers | 440/4 | €4,314 | €2,820 | -€1,494 | -34.6% |
| Advances received on contracts in progress | 46 | - | €650 | +€650 | |
| Accrued charges and deferred income | 492/3 | - | €650 | +€650 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,334 | €1,332 | -€32,002 | -96.0% |
| Other operating charges | 640/8 | €529 | €528 | -€2 | -0.3% |
| Gross operating margin | 9900 | €2,089 | €3,806 | +€1,717 | +82.2% |
| Operating profit (loss) | 9901 | -€31,775 | €1,946 | +€33,721 | |
| Financial income | 75/76B | - | €89 | +€89 | |
| Recurring financial income | 75 | - | €89 | +€89 | |
| Financial charges | 65/66B | €68 | €89 | +€21 | +31.5% |
| Recurring financial charges | 65 | €68 | €89 | +€21 | +31.5% |
| Profit (loss) for the period before taxes | 9903 | -€31,842 | €1,946 | +€33,789 | |
| Profit (loss) for the period | 9904 | -€31,842 | €1,946 | +€33,789 | |
| Profit (loss) for the period to be appropriated | 9905 | -€31,842 | €1,946 | +€33,789 |
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 17 October 2026 via checked.be.