VANACKER WILLY: 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.
VANACKER WILLY
Largest movements
- Tangible fixed assets +€58,268
up €58,268 (+138.4%), from €42,115 to €100,383
of which Furniture and vehicles: +€64,399
- Stocks and contracts +€16,896
up €16,896 (+12.1%), from €139,998 to €156,894
of which Stocks: +€19,511
- Cash -€14,289
down €14,289 (-30.3%), from €47,104 to €32,815
mainly Investment in fixed assets (net) (-€79,337) and Other debts (-€17,805)
- Receivables within one year -€9,941
down €9,941 (-11.2%), from €88,486 to €78,545
of which Trade receivables: -€31,954
- Deferred charges and accrued income +€5,830
up €5,830 (+749.5%), from €778 to €6,608
- Debts after one year +€50,254
new in 2025: €50,254
- Other debts -€17,805
down €17,805 (-9.8%), from €181,700 to €163,895
- Trade debts -€13,718
down €13,718 (-29.9%), from €45,847 to €32,129
- Current portion of long-term debt +€13,278
up €13,278, from €0 to €13,278
- Profit (loss) carried forward +€12,481
up €12,481 (+26.1%), from -€47,835 to -€35,354
- Staff costs +€17,406
up €17,406 (+8.0%), from €217,840 to €235,246
- Gross operating margin +€11,962
up €11,962 (+4.5%), from €264,026 to €275,987
- Depreciation -€4,540
down €4,540 (-17.7%), from €25,610 to €21,070
- Financial income +€4,267
up €4,267 (+765.5%), from €557 to €4,824
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 | €319,481 | €376,244 | +€56,763 | +17.8% |
| Fixed assets | 21/28 | €43,115 | €101,383 | +€58,268 | +135.1% |
| Tangible fixed assets | 22/27 | €42,115 | €100,383 | +€58,268 | +138.4% |
| Plant, machinery and equipment | 23 | €4,855 | €2,921 | -€1,934 | -39.8% |
| Furniture and vehicles | 24 | €12,820 | €77,219 | +€64,399 | +502.3% |
| Other tangible fixed assets | 26 | €24,440 | €20,242 | -€4,197 | -17.2% |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €276,366 | €274,861 | -€1,504 | -0.5% |
| Stocks and contracts in progress | 3 | €139,998 | €156,894 | +€16,896 | +12.1% |
| Stocks | 30/36 | €85,383 | €104,894 | +€19,511 | +22.9% |
| Contracts in progress | 37 | €54,615 | €52,000 | -€2,615 | -4.8% |
| Amounts receivable within one year | 40/41 | €88,486 | €78,545 | -€9,941 | -11.2% |
| Trade receivables | 40 | €82,173 | €50,219 | -€31,954 | -38.9% |
| Other amounts receivable | 41 | €6,313 | €28,327 | +€22,013 | +348.7% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €47,104 | €32,815 | -€14,289 | -30.3% |
| Deferred charges and accrued income | 490/1 | €778 | €6,608 | +€5,830 | +749.5% |
| Total equity and liabilities | 10/49 | €319,481 | €376,244 | +€56,763 | +17.8% |
| Equity | 10/15 | €73,331 | €85,812 | +€12,481 | +17.0% |
| Contributions | 10/11 | €22,000 | €22,000 | = | 0.0% |
| Reserves | 13 | €99,166 | €99,166 | = | 0.0% |
| Distributable reserves | 133 | €99,166 | €99,166 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€47,835 | -€35,354 | +€12,481 | +26.1% |
| Amounts payable | 17/49 | €246,150 | €290,432 | +€44,282 | +18.0% |
| Amounts payable after more than one year | 17 | - | €50,254 | +€50,254 | |
| Financial debts | 170/4 | - | €50,254 | +€50,254 | |
| Amounts payable within one year | 42/48 | €244,116 | €235,866 | -€8,251 | -3.4% |
| Current portion of amounts payable after more than one year | 42 | €0 | €13,278 | +€13,278 | |
| Trade debts | 44 | €45,847 | €32,129 | -€13,718 | -29.9% |
| Suppliers | 440/4 | €45,847 | €32,129 | -€13,718 | -29.9% |
| Taxes, remuneration and social security | 45 | €16,570 | €26,564 | +€9,995 | +60.3% |
| Taxes | 450/3 | €944 | €1,725 | +€782 | +82.8% |
| Remuneration and social security | 454/9 | €15,626 | €24,839 | +€9,213 | +59.0% |
| Other amounts payable | 47/48 | €181,700 | €163,895 | -€17,805 | -9.8% |
| Accrued charges and deferred income | 492/3 | €2,034 | €4,313 | +€2,279 | +112.1% |
| Remuneration, social security and pensions | 62 | €217,840 | €235,246 | +€17,406 | +8.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,610 | €21,070 | -€4,540 | -17.7% |
| Other operating charges | 640/8 | €3,816 | €4,233 | +€418 | +10.9% |
| Gross operating margin | 9900 | €264,026 | €275,987 | +€11,962 | +4.5% |
| Operating profit (loss) | 9901 | €16,760 | €15,438 | -€1,322 | -7.9% |
| Financial income | 75/76B | €557 | €4,824 | +€4,267 | +765.5% |
| Recurring financial income | 75 | €557 | €4,824 | +€4,267 | +765.5% |
| Financial charges | 65/66B | €7,121 | €7,406 | +€286 | +4.0% |
| Recurring financial charges | 65 | €7,121 | €7,406 | +€286 | +4.0% |
| Profit (loss) for the period before taxes | 9903 | €10,197 | €12,856 | +€2,659 | +26.1% |
| Income taxes | 67/77 | €705 | €374 | -€331 | -46.9% |
| Profit (loss) for the period | 9904 | €9,492 | €12,481 | +€2,990 | +31.5% |
| Profit (loss) for the period to be appropriated | 9905 | €9,492 | €12,481 | +€2,990 | +31.5% |
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 7 October 2026 via checked.be.