VANAC: 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.
VANAC
Largest movements
- Stocks and contracts +€203,397
up €203,397 (+462.1%), from €44,015 to €247,412
of which Stocks: +€202,914
- Cash -€158,588
down €158,588 (-85.0%), from €186,530 to €27,942
mainly Stocks and contracts (-€203,397) and Receivables within one year (-€5,526)
- Tangible fixed assets -€20,092
down €20,092 (-10.7%), from €187,473 to €167,381
of which Land and buildings: -€20,084
- Reserves +€14,049
up €14,049 (+5.5%), from €254,539 to €268,588
of which Distributable reserves: +€14,049
- Tax, wage and social debts +€10,024
up €10,024 (+501.2%), from €2,000 to €12,024
of which Taxes: +€10,024
- Advances received +€6,401
up €6,401 (+18.3%), from €34,982 to €41,383
- Staff costs -€8,276
down €8,276 (-69.4%), from €11,919 to €3,642
- Gross operating margin +€6,749
up €6,749 (+15.2%), from €44,261 to €51,010
- Depreciation -€6,028
down €6,028 (-19.3%), from €31,309 to €25,281
- Taxes +€5,127
up €5,127 (+373.7%), from €1,372 to €6,499
- Financial income -€837
down €837 (-14.0%), from €5,975 to €5,138
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 | €564,554 | €594,720 | +€30,167 | +5.3% |
| Fixed assets | 21/28 | €187,473 | €167,381 | -€20,092 | -10.7% |
| Tangible fixed assets | 22/27 | €187,473 | €167,381 | -€20,092 | -10.7% |
| Land and buildings | 22 | €167,757 | €147,673 | -€20,084 | -12.0% |
| Plant, machinery and equipment | 23 | €13,499 | €12,557 | -€942 | -7.0% |
| Furniture and vehicles | 24 | €6,218 | €7,152 | +€934 | +15.0% |
| Current assets | 29/58 | €377,081 | €427,339 | +€50,259 | +13.3% |
| Stocks and contracts in progress | 3 | €44,015 | €247,412 | +€203,397 | +462.1% |
| Stocks | 30/36 | €25,240 | €228,153 | +€202,914 | +803.9% |
| Contracts in progress | 37 | €18,775 | €19,259 | +€484 | +2.6% |
| Amounts receivable within one year | 40/41 | €141,951 | €147,478 | +€5,526 | +3.9% |
| Trade receivables | 40 | €123,851 | €141,146 | +€17,294 | +14.0% |
| Other amounts receivable | 41 | €18,100 | €6,332 | -€11,768 | -65.0% |
| Cash at bank and in hand | 54/58 | €186,530 | €27,942 | -€158,588 | -85.0% |
| Deferred charges and accrued income | 490/1 | €4,585 | €4,508 | -€77 | -1.7% |
| Total equity and liabilities | 10/49 | €564,554 | €594,720 | +€30,167 | +5.3% |
| Equity | 10/15 | €273,139 | €287,188 | +€14,049 | +5.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €254,539 | €268,588 | +€14,049 | +5.5% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €254,539 | €268,588 | +€14,049 | +5.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €291,415 | €307,532 | +€16,117 | +5.5% |
| Amounts payable after more than one year | 17 | €225,000 | €225,000 | = | 0.0% |
| Other amounts payable | 178/9 | €225,000 | €225,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €66,415 | €82,089 | +€15,674 | +23.6% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €23,591 | €20,342 | -€3,249 | -13.8% |
| Suppliers | 440/4 | €23,591 | €20,342 | -€3,249 | -13.8% |
| Advances received on contracts in progress | 46 | €34,982 | €41,383 | +€6,401 | +18.3% |
| Taxes, remuneration and social security | 45 | €2,000 | €12,024 | +€10,024 | +501.2% |
| Taxes | 450/3 | €0 | €10,024 | +€10,024 | |
| Remuneration and social security | 454/9 | €2,000 | €2,000 | = | 0.0% |
| Other amounts payable | 47/48 | €5,842 | €8,341 | +€2,499 | +42.8% |
| Accrued charges and deferred income | 492/3 | €0 | €443 | +€443 | |
| Non-recurring operating income | 76A | - | €1,495 | +€1,495 | |
| Remuneration, social security and pensions | 62 | €11,919 | €3,642 | -€8,276 | -69.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,309 | €25,281 | -€6,028 | -19.3% |
| Other operating charges | 640/8 | €3,788 | €4,332 | +€544 | +14.4% |
| Gross operating margin | 9900 | €44,261 | €51,010 | +€6,749 | +15.2% |
| Operating profit (loss) | 9901 | -€2,754 | €17,755 | +€20,509 | |
| Financial income | 75/76B | €5,975 | €5,138 | -€837 | -14.0% |
| Recurring financial income | 75 | €5,975 | €5,138 | -€837 | -14.0% |
| Financial charges | 65/66B | €708 | €627 | -€81 | -11.4% |
| Recurring financial charges | 65 | €708 | €627 | -€81 | -11.4% |
| Profit (loss) for the period before taxes | 9903 | €2,513 | €22,266 | +€19,753 | +786.0% |
| Income taxes | 67/77 | €1,372 | €6,499 | +€5,127 | +373.7% |
| Profit (loss) for the period | 9904 | €1,141 | €15,767 | +€14,626 | +1282.0% |
| Profit (loss) for the period to be appropriated | 9905 | €1,141 | €15,767 | +€14,626 | +1282.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.