VANAKEN: 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.
VANAKEN
Largest movements
- Cash -€32,871
down €32,871 (-46.1%), from €71,309 to €38,438
mainly Short-term financial debts (-€50,000) and Contributions, distributions and other (-€18,729)
- Stocks and contracts -€14,986
down €14,986 (-19.3%), from €77,450 to €62,465
- Tangible fixed assets -€7,045
down €7,045 (-15.9%), from €44,238 to €37,193
of which Furniture and vehicles: -€8,629
- Receivables within one year +€6,697
up €6,697 (+9.7%), from €69,015 to €75,711
of which Trade receivables: +€10,172
- Intangible fixed assets -€4,871
down €4,871 (-25.0%), from €19,485 to €14,614
- Short-term financial debts -€50,000
down €50,000 (-49.6%), from €100,764 to €50,764
of which Credit institutions: -€50,000
- Trade debts +€17,173
up €17,173, from €0 to €17,173
- Reserves -€15,215
down €15,215 (-12.8%), from €119,300 to €104,085
of which Distributable reserves: -€15,215
- Current portion of long-term debt -€5,892
down €5,892 (-73.7%), from €7,997 to €2,105
- Tax, wage and social debts +€3,062
up €3,062 (+21.1%), from €14,512 to €17,574
of which Taxes: +€4,157
- Gross operating margin +€44,026
up €44,026 (+26.7%), from €164,783 to €208,810
- Staff costs +€35,429
up €35,429 (+26.8%), from €132,228 to €167,657
- Depreciation +€8,061
up €8,061 (+59.6%), from €13,529 to €21,590
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 | €281,498 | €230,245 | -€51,252 | -18.2% |
| Fixed assets | 21/28 | €63,723 | €51,807 | -€11,916 | -18.7% |
| Intangible fixed assets | 21 | €19,485 | €14,614 | -€4,871 | -25.0% |
| Tangible fixed assets | 22/27 | €44,238 | €37,193 | -€7,045 | -15.9% |
| Land and buildings | 22 | €12,578 | €10,559 | -€2,020 | -16.1% |
| Plant, machinery and equipment | 23 | €9,870 | €12,904 | +€3,034 | +30.7% |
| Furniture and vehicles | 24 | €13,599 | €4,970 | -€8,629 | -63.5% |
| Other tangible fixed assets | 26 | €8,191 | €8,761 | +€570 | +7.0% |
| Current assets | 29/58 | €217,774 | €178,438 | -€39,336 | -18.1% |
| Stocks and contracts in progress | 3 | €77,450 | €62,465 | -€14,986 | -19.3% |
| Stocks | 30/36 | €77,450 | €62,465 | -€14,986 | -19.3% |
| Amounts receivable within one year | 40/41 | €69,015 | €75,711 | +€6,697 | +9.7% |
| Trade receivables | 40 | €60,985 | €71,157 | +€10,172 | +16.7% |
| Other amounts receivable | 41 | €8,030 | €4,555 | -€3,475 | -43.3% |
| Cash at bank and in hand | 54/58 | €71,309 | €38,438 | -€32,871 | -46.1% |
| Deferred charges and accrued income | 490/1 | - | €1,824 | +€1,824 | |
| Total equity and liabilities | 10/49 | €281,498 | €230,245 | -€51,252 | -18.2% |
| Equity | 10/15 | €148,929 | €133,715 | -€15,215 | -10.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €119,300 | €104,085 | -€15,215 | -12.8% |
| 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 | €117,440 | €102,225 | -€15,215 | -13.0% |
| Profit (loss) carried forward | 14 | €11,029 | €11,029 | = | 0.0% |
| Amounts payable | 17/49 | €132,568 | €96,531 | -€36,038 | -27.2% |
| Amounts payable after more than one year | 17 | €2,105 | - | -€2,105 | |
| Financial debts | 170/4 | €2,105 | - | -€2,105 | |
| Amounts payable within one year | 42/48 | €129,564 | €96,531 | -€33,033 | -25.5% |
| Current portion of amounts payable after more than one year | 42 | €7,997 | €2,105 | -€5,892 | -73.7% |
| Financial debts | 43 | €100,764 | €50,764 | -€50,000 | -49.6% |
| Credit institutions | 430/8 | €100,000 | €50,000 | -€50,000 | -50.0% |
| Other loans | 439 | €764 | €764 | = | 0.0% |
| Trade debts | 44 | €0 | €17,173 | +€17,173 | |
| Suppliers | 440/4 | €0 | €17,173 | +€17,173 | |
| Taxes, remuneration and social security | 45 | €14,512 | €17,574 | +€3,062 | +21.1% |
| Taxes | 450/3 | €6,902 | €11,059 | +€4,157 | +60.2% |
| Remuneration and social security | 454/9 | €7,610 | €6,515 | -€1,095 | -14.4% |
| Other amounts payable | 47/48 | €6,290 | €8,915 | +€2,625 | +41.7% |
| Accrued charges and deferred income | 492/3 | €900 | - | -€900 | |
| Remuneration, social security and pensions | 62 | €132,228 | €167,657 | +€35,429 | +26.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,529 | €21,590 | +€8,061 | +59.6% |
| Other operating charges | 640/8 | €7,117 | €8,000 | +€882 | +12.4% |
| Gross operating margin | 9900 | €164,783 | €208,810 | +€44,026 | +26.7% |
| Operating profit (loss) | 9901 | €11,909 | €11,562 | -€346 | -2.9% |
| Financial income | 75/76B | €4,309 | €4,593 | +€285 | +6.6% |
| Recurring financial income | 75 | €4,309 | €4,593 | +€285 | +6.6% |
| Financial charges | 65/66B | €7,668 | €8,389 | +€722 | +9.4% |
| Recurring financial charges | 65 | €7,668 | €8,389 | +€722 | +9.4% |
| Profit (loss) for the period before taxes | 9903 | €8,549 | €7,766 | -€783 | -9.2% |
| Income taxes | 67/77 | €3,840 | €4,252 | +€413 | +10.7% |
| Profit (loss) for the period | 9904 | €4,710 | €3,514 | -€1,196 | -25.4% |
| Profit (loss) for the period to be appropriated | 9905 | €4,710 | €3,514 | -€1,196 | -25.4% |
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 11 October 2026 via checked.be.