Van10N: 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.
Van10N
Largest movements
- Current investments -€148,457
down €148,457 (-84.8%), from €175,000 to €26,543
- Tangible fixed assets -€31,257
down €31,257 (-6.1%), from €509,632 to €478,375
of which Land and buildings: -€30,519
- Cash -€23,906
down €23,906 (-95.2%), from €25,120 to €1,214
mainly Other debts (-€211,031) and Receivables within one year (-€8,687)
- Other debts -€211,031
down €211,031 (-50.7%), from €416,502 to €205,471
- Profit (loss) carried forward +€14,991
up €14,991 (+5.4%), from €275,630 to €290,622
- Gross operating margin -€45,951
down €45,951 (-43.6%), from €105,353 to €59,401
- Taxes +€13,224
up €13,224, from -€6,824 to €6,400
- Financial income +€1,872
new in 2025: €1,872
of which Financial income: +€1,872
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 | €1,374,941 | €1,178,875 | -€196,066 | -14.3% |
| Fixed assets | 21/28 | €710,632 | €679,375 | -€31,257 | -4.4% |
| Tangible fixed assets | 22/27 | €509,632 | €478,375 | -€31,257 | -6.1% |
| Land and buildings | 22 | €506,384 | €475,865 | -€30,519 | -6.0% |
| Furniture and vehicles | 24 | €3,248 | €2,510 | -€738 | -22.7% |
| Financial fixed assets | 28 | €201,000 | €201,000 | = | 0.0% |
| Current assets | 29/58 | €664,309 | €499,500 | -€164,809 | -24.8% |
| Amounts receivable within one year | 40/41 | €463,057 | €471,744 | +€8,687 | +1.9% |
| Other amounts receivable | 41 | €463,057 | €471,744 | +€8,687 | +1.9% |
| Current investments | 50/53 | €175,000 | €26,543 | -€148,457 | -84.8% |
| Cash at bank and in hand | 54/58 | €25,120 | €1,214 | -€23,906 | -95.2% |
| Deferred charges and accrued income | 490/1 | €1,132 | - | -€1,132 | |
| Total equity and liabilities | 10/49 | €1,374,941 | €1,178,875 | -€196,066 | -14.3% |
| Equity | 10/15 | €935,630 | €950,622 | +€14,991 | +1.6% |
| Contributions | 10/11 | €600,000 | €600,000 | = | 0.0% |
| Capital | 10 | €600,000 | €600,000 | = | 0.0% |
| Issued capital | 100 | €600,000 | €600,000 | = | 0.0% |
| Reserves | 13 | €60,000 | €60,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €60,000 | €60,000 | = | 0.0% |
| Legal reserve | 130 | €60,000 | €60,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €275,630 | €290,622 | +€14,991 | +5.4% |
| Amounts payable | 17/49 | €439,311 | €228,254 | -€211,057 | -48.0% |
| Amounts payable within one year | 42/48 | €436,003 | €224,772 | -€211,231 | -48.4% |
| Trade debts | 44 | €200 | - | -€200 | |
| Suppliers | 440/4 | €200 | - | -€200 | |
| Taxes, remuneration and social security | 45 | €19,301 | €19,301 | = | 0.0% |
| Taxes | 450/3 | €19,301 | €19,301 | = | 0.0% |
| Other amounts payable | 47/48 | €416,502 | €205,471 | -€211,031 | -50.7% |
| Accrued charges and deferred income | 492/3 | €3,309 | €3,482 | +€174 | +5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,961 | €31,257 | +€296 | +1.0% |
| Other operating charges | 640/8 | €7,863 | €8,399 | +€536 | +6.8% |
| Gross operating margin | 9900 | €105,353 | €59,401 | -€45,951 | -43.6% |
| Operating profit (loss) | 9901 | €66,528 | €19,745 | -€46,784 | -70.3% |
| Financial income | 75/76B | - | €1,872 | +€1,872 | |
| Recurring financial income | 75 | - | €1,872 | +€1,872 | |
| Non-recurring financial income | 76B | - | €1,872 | +€1,872 | |
| Financial charges | 65/66B | €311 | €226 | -€85 | -27.4% |
| Recurring financial charges | 65 | €311 | €226 | -€85 | -27.4% |
| Profit (loss) for the period before taxes | 9903 | €66,218 | €21,391 | -€44,826 | -67.7% |
| Income taxes | 67/77 | -€6,824 | €6,400 | +€13,224 | |
| Profit (loss) for the period | 9904 | €73,042 | €14,991 | -€58,050 | -79.5% |
| Profit (loss) for the period to be appropriated | 9905 | €73,042 | €14,991 | -€58,050 | -79.5% |
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.