VANACK: 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.
VANACK
Largest movements
- Receivables within one year -€111,178
down €111,178 (-38.8%), from €286,350 to €175,171
of which Other amounts receivable: -€140,585
- Cash +€90,895
up €90,895 (+131.4%), from €69,178 to €160,073
mainly Receivables within one year (+€111,178) and Stocks and contracts (+€53,063)
- Stocks and contracts -€53,063
no longer reported in 2025 (was €53,063)
- Tangible fixed assets -€14,286
down €14,286 (-48.5%), from €29,435 to €15,149
- Other debts -€95,048
down €95,048 (-47.5%), from €200,279 to €105,231
- Reserves +€13,210
up €13,210 (+8.6%), from €153,515 to €166,725
of which Non-distributable reserves: +€13,210
- Depreciation -€23,477
down €23,477 (-61.7%), from €38,037 to €14,560
- Gross operating margin -€16,936
down €16,936 (-36.4%), from €46,571 to €29,635
- Other operating charges -€4,496
down €4,496 (-51.2%), from €8,787 to €4,291
- Taxes +€640
up €640 (+93.9%), from €681 to €1,321
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 | €446,099 | €359,168 | -€86,931 | -19.5% |
| Fixed assets | 21/28 | €29,790 | €15,230 | -€14,560 | -48.9% |
| Intangible fixed assets | 21 | €355 | €82 | -€274 | -77.0% |
| Tangible fixed assets | 22/27 | €29,435 | €15,149 | -€14,286 | -48.5% |
| Land and buildings | 22 | €9,261 | €2,779 | -€6,482 | -70.0% |
| Plant, machinery and equipment | 23 | €19,084 | €12,131 | -€6,953 | -36.4% |
| Furniture and vehicles | 24 | €1,089 | €238 | -€851 | -78.1% |
| Current assets | 29/58 | €416,309 | €343,937 | -€72,371 | -17.4% |
| Stocks and contracts in progress | 3 | €53,063 | - | -€53,063 | |
| Contracts in progress | 37 | €53,063 | - | -€53,063 | |
| Amounts receivable within one year | 40/41 | €286,350 | €175,171 | -€111,178 | -38.8% |
| Trade receivables | 40 | €136,012 | €165,418 | +€29,406 | +21.6% |
| Other amounts receivable | 41 | €150,338 | €9,753 | -€140,585 | -93.5% |
| Cash at bank and in hand | 54/58 | €69,178 | €160,073 | +€90,895 | +131.4% |
| Deferred charges and accrued income | 490/1 | €7,718 | €8,693 | +€975 | +12.6% |
| Total equity and liabilities | 10/49 | €446,099 | €359,168 | -€86,931 | -19.5% |
| Equity | 10/15 | €236,915 | €250,125 | +€13,210 | +5.6% |
| Contributions | 10/11 | €273,867 | €273,867 | = | 0.0% |
| Reserves | 13 | €153,515 | €166,725 | +€13,210 | +8.6% |
| Non-distributable reserves | 130/1 | €150,665 | €163,874 | +€13,210 | +8.8% |
| Other | 1319 | €150,665 | €163,874 | +€13,210 | +8.8% |
| Tax-exempt reserves | 132 | €2,850 | €2,850 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€190,467 | -€190,467 | = | 0.0% |
| Amounts payable | 17/49 | €209,184 | €109,043 | -€100,140 | -47.9% |
| Amounts payable within one year | 42/48 | €208,821 | €108,845 | -€99,976 | -47.9% |
| Trade debts | 44 | €3,117 | €2,293 | -€824 | -26.4% |
| Suppliers | 440/4 | €3,117 | €2,293 | -€824 | -26.4% |
| Taxes, remuneration and social security | 45 | €5,425 | €1,321 | -€4,104 | -75.7% |
| Taxes | 450/3 | €5,425 | €1,321 | -€4,104 | -75.7% |
| Other amounts payable | 47/48 | €200,279 | €105,231 | -€95,048 | -47.5% |
| Accrued charges and deferred income | 492/3 | €362 | €198 | -€164 | -45.3% |
| Non-recurring operating income | 76A | €1,860 | - | -€1,860 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,037 | €14,560 | -€23,477 | -61.7% |
| Other operating charges | 640/8 | €8,787 | €4,291 | -€4,496 | -51.2% |
| Non-recurring operating charges | 66A | €253 | - | -€253 | |
| Gross operating margin | 9900 | €46,571 | €29,635 | -€16,936 | -36.4% |
| Operating profit (loss) | 9901 | -€506 | €10,785 | +€11,291 | |
| Financial income | 75/76B | €4,508 | €4,100 | -€407 | -9.0% |
| Recurring financial income | 75 | €4,508 | €4,100 | -€407 | -9.0% |
| Financial charges | 65/66B | €470 | €355 | -€116 | -24.6% |
| Recurring financial charges | 65 | €470 | €355 | -€116 | -24.6% |
| Profit (loss) for the period before taxes | 9903 | €3,532 | €14,530 | +€10,999 | +311.4% |
| Income taxes | 67/77 | €681 | €1,321 | +€640 | +93.9% |
| Profit (loss) for the period | 9904 | €2,850 | €13,210 | +€10,359 | +363.4% |
| Transfer to tax-exempt reserves | 689 | €2,850 | - | -€2,850 | |
| Profit (loss) for the period to be appropriated | 9905 | - | €13,210 | +€13,210 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.