VAN-J: 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.
VAN-J
Largest movements
- Receivables after one year +€21,290
up €21,290 (+113.6%), from €18,746 to €40,036
- Cash -€6,679
down €6,679 (-52.9%), from €12,622 to €5,943
mainly Contributions, distributions and other (-€33,000) and Receivables after one year (-€21,290)
- Deferred charges and accrued income +€3,097
up €3,097 (+275.7%), from €1,123 to €4,220
- Receivables within one year -€1,528
down €1,528 (-42.4%), from €3,600 to €2,072
of which Trade receivables: -€3,071
- Other debts +€33,000
new in 2025: €33,000
- Reserves -€18,589
down €18,589 (-56.9%), from €32,680 to €14,091
- Short-term financial debts +€2,152
new in 2025: €2,152
- Tax, wage and social debts -€751
no longer reported in 2025 (was €751)
of which Taxes: -€469
- Gross operating margin -€4,485
down €4,485 (-15.6%), from €28,769 to €24,284
- Financial charges +€2,704
up €2,704 (+3062.3%), from €88 to €2,792
- Taxes -€2,012
down €2,012 (-22.4%), from €8,969 to €6,957
- Financial income +€938
up €938 (+331.3%), from €283 to €1,221
- Other operating charges -€303
down €303 (-28.6%), from €1,060 to €757
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 | €36,747 | €52,581 | +€15,834 | +43.1% |
| Fixed assets | 21/28 | €656 | €309 | -€346 | -52.8% |
| Tangible fixed assets | 22/27 | €656 | €309 | -€346 | -52.8% |
| Furniture and vehicles | 24 | €656 | €309 | -€346 | -52.8% |
| Current assets | 29/58 | €36,091 | €52,271 | +€16,180 | +44.8% |
| Amounts receivable after more than one year | 29 | €18,746 | €40,036 | +€21,290 | +113.6% |
| Other amounts receivable | 291 | €18,746 | €40,036 | +€21,290 | +113.6% |
| Amounts receivable within one year | 40/41 | €3,600 | €2,072 | -€1,528 | -42.4% |
| Trade receivables | 40 | €3,600 | €529 | -€3,071 | -85.3% |
| Other amounts receivable | 41 | - | €1,543 | +€1,543 | |
| Cash at bank and in hand | 54/58 | €12,622 | €5,943 | -€6,679 | -52.9% |
| Deferred charges and accrued income | 490/1 | €1,123 | €4,220 | +€3,097 | +275.7% |
| Total equity and liabilities | 10/49 | €36,747 | €52,581 | +€15,834 | +43.1% |
| Equity | 10/15 | €35,680 | €17,333 | -€18,347 | -51.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €32,680 | €14,091 | -€18,589 | -56.9% |
| Distributable reserves | 133 | €32,680 | €14,091 | -€18,589 | -56.9% |
| Profit (loss) carried forward | 14 | - | €242 | +€242 | |
| Amounts payable | 17/49 | €1,067 | €35,247 | +€34,180 | +3203.7% |
| Amounts payable within one year | 42/48 | €1,001 | €35,247 | +€34,246 | +3420.5% |
| Financial debts | 43 | - | €2,152 | +€2,152 | |
| Credit institutions | 430/8 | - | €2,152 | +€2,152 | |
| Trade debts | 44 | €250 | €95 | -€155 | -61.8% |
| Suppliers | 440/4 | €250 | €95 | -€155 | -61.8% |
| Taxes, remuneration and social security | 45 | €751 | - | -€751 | |
| Taxes | 450/3 | €469 | - | -€469 | |
| Remuneration and social security | 454/9 | €282 | - | -€282 | |
| Other amounts payable | 47/48 | - | €33,000 | +€33,000 | |
| Accrued charges and deferred income | 492/3 | €66 | - | -€66 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €346 | €346 | +€0 | 0.0% |
| Other operating charges | 640/8 | €1,060 | €757 | -€303 | -28.6% |
| Gross operating margin | 9900 | €28,769 | €24,284 | -€4,485 | -15.6% |
| Operating profit (loss) | 9901 | €27,363 | €23,181 | -€4,182 | -15.3% |
| Financial income | 75/76B | €283 | €1,221 | +€938 | +331.3% |
| Recurring financial income | 75 | €283 | €1,221 | +€938 | +331.3% |
| Financial charges | 65/66B | €88 | €2,792 | +€2,704 | +3062.3% |
| Recurring financial charges | 65 | €88 | €2,792 | +€2,704 | +3062.3% |
| Profit (loss) for the period before taxes | 9903 | €27,558 | €21,610 | -€5,948 | -21.6% |
| Income taxes | 67/77 | €8,969 | €6,957 | -€2,012 | -22.4% |
| Profit (loss) for the period | 9904 | €18,589 | €14,653 | -€3,936 | -21.2% |
| Profit (loss) for the period to be appropriated | 9905 | €18,589 | €14,653 | -€3,936 | -21.2% |
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 30 September 2026 via checked.be.