VAN-K: 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-K
Largest movements
- Receivables within one year -€10,116
down €10,116 (-18.5%), from €54,652 to €44,536
of which Other amounts receivable: -€10,782
- Cash +€3,223
new in 2025: €3,223
mainly Net result for the year (+€21,188) and Receivables within one year (+€10,116)
- Tangible fixed assets -€941
down €941 (-38.4%), from €2,451 to €1,510
- Profit (loss) carried forward +€21,188
up €21,188, from -€4,376 to €16,812
- Reserves -€15,000
down €15,000 (-89.0%), from €16,860 to €1,860
of which Distributable reserves: -€15,000
- Short-term financial debts -€8,801
no longer reported in 2025 (was €8,801)
- Debts after one year -€5,405
down €5,405 (-35.1%), from €15,386 to €9,980
- Tax, wage and social debts +€750
new in 2025: €750
- Gross operating margin +€8,658
up €8,658 (+49.2%), from €17,599 to €26,257
- Other operating charges +€954
up €954 (+212.6%), from €449 to €1,403
- Financial charges -€620
down €620 (-18.5%), from €3,347 to €2,727
- Depreciation +€568
up €568 (+152.4%), from €373 to €941
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 | €57,201 | €49,780 | -€7,420 | -13.0% |
| Fixed assets | 21/28 | €2,451 | €1,510 | -€941 | -38.4% |
| Tangible fixed assets | 22/27 | €2,451 | €1,510 | -€941 | -38.4% |
| Furniture and vehicles | 24 | €2,451 | €1,510 | -€941 | -38.4% |
| Current assets | 29/58 | €54,750 | €48,271 | -€6,479 | -11.8% |
| Amounts receivable within one year | 40/41 | €54,652 | €44,536 | -€10,116 | -18.5% |
| Trade receivables | 40 | €2,539 | €3,205 | +€666 | +26.2% |
| Other amounts receivable | 41 | €52,113 | €41,331 | -€10,782 | -20.7% |
| Cash at bank and in hand | 54/58 | - | €3,223 | +€3,223 | |
| Deferred charges and accrued income | 490/1 | €98 | €512 | +€414 | +422.8% |
| Total equity and liabilities | 10/49 | €57,201 | €49,780 | -€7,420 | -13.0% |
| Equity | 10/15 | €26,161 | €32,348 | +€6,188 | +23.7% |
| Contributions | 10/11 | €13,676 | €13,676 | = | 0.0% |
| Reserves | 13 | €16,860 | €1,860 | -€15,000 | -89.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €15,000 | - | -€15,000 | |
| Profit (loss) carried forward | 14 | -€4,376 | €16,812 | +€21,188 | |
| Amounts payable | 17/49 | €31,040 | €17,432 | -€13,608 | -43.8% |
| Amounts payable after more than one year | 17 | €15,386 | €9,980 | -€5,405 | -35.1% |
| Financial debts | 170/4 | €15,386 | €9,980 | -€5,405 | -35.1% |
| Amounts payable within one year | 42/48 | €15,630 | €7,427 | -€8,203 | -52.5% |
| Current portion of amounts payable after more than one year | 42 | €5,007 | €5,405 | +€398 | +7.9% |
| Financial debts | 43 | €8,801 | - | -€8,801 | |
| Credit institutions | 430/8 | €8,801 | - | -€8,801 | |
| Trade debts | 44 | €1,822 | €1,272 | -€550 | -30.2% |
| Suppliers | 440/4 | €1,822 | €1,272 | -€550 | -30.2% |
| Taxes, remuneration and social security | 45 | - | €750 | +€750 | |
| Taxes | 450/3 | - | €750 | +€750 | |
| Accrued charges and deferred income | 492/3 | €25 | €25 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €373 | €941 | +€568 | +152.4% |
| Other operating charges | 640/8 | €449 | €1,403 | +€954 | +212.6% |
| Gross operating margin | 9900 | €17,599 | €26,257 | +€8,658 | +49.2% |
| Operating profit (loss) | 9901 | €16,778 | €23,913 | +€7,135 | +42.5% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €3,347 | €2,727 | -€620 | -18.5% |
| Recurring financial charges | 65 | €3,347 | €2,727 | -€620 | -18.5% |
| Profit (loss) for the period before taxes | 9903 | €13,431 | €21,188 | +€7,756 | +57.7% |
| Profit (loss) for the period | 9904 | €13,431 | €21,188 | +€7,756 | +57.7% |
| Profit (loss) for the period to be appropriated | 9905 | €13,431 | €21,188 | +€7,756 | +57.7% |
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 1 October 2026 via checked.be.