VANAPA: 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.
VANAPA
Largest movements
- Tangible fixed assets +€44,712
up €44,712 (+2,410%), from €1,856 to €46,567
of which Furniture and vehicles: +€45,057
- Cash -€42,725
down €42,725 (-48.1%), from €88,911 to €46,186
mainly Investment in fixed assets (net) (-€55,615) and Receivables within one year (-€2,303)
- Tax, wage and social debts +€3,602
up €3,602 (+179%), from €2,009 to €5,611
of which Taxes: +€3,402
- Depreciation +€10,175
up €10,175 (+1,397%), from €729 to €10,903
- Gross operating margin +€6,991
up €6,991 (+86.0%), from €8,128 to €15,119
- Taxes +€1,367
up €1,367 (+76.1%), from €1,796 to €3,163
- Financial charges +€539
up €539 (+650%), from €83 to €622
of which Non-recurring financial charges: +€419
- Other operating charges +€328
up €328 (+63.9%), from €513 to €841
From the 2025 result to the 2026 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.
Derived cash bridge
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €301,719 | €305,684 | +€3,965 | +1.3% |
| Fixed assets | 21/28 | €1,856 | €46,567 | +€44,712 | +2,410% |
| Tangible fixed assets | 22/27 | €1,856 | €46,567 | +€44,712 | +2,410% |
| Plant, machinery and equipment | 23 | €1,686 | €1,342 | -€345 | -20.4% |
| Furniture and vehicles | 24 | €169 | €45,226 | +€45,057 | +26,591% |
| Current assets | 29/58 | €299,864 | €259,117 | -€40,747 | -13.6% |
| Amounts receivable within one year | 40/41 | €7,963 | €10,267 | +€2,303 | +28.9% |
| Trade receivables | 40 | €6,496 | €10,241 | +€3,745 | +57.6% |
| Other amounts receivable | 41 | €1,467 | €25 | -€1,442 | -98.3% |
| Current investments | 50/53 | €200,000 | €199,581 | -€419 | -0.2% |
| Cash at bank and in hand | 54/58 | €88,911 | €46,186 | -€42,725 | -48.1% |
| Deferred charges and accrued income | 490/1 | €2,990 | €3,083 | +€94 | +3.1% |
| Total equity and liabilities | 10/49 | €301,719 | €305,684 | +€3,965 | +1.3% |
| Equity | 10/15 | €296,023 | €295,613 | -€409 | -0.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €280,037 | €280,037 | = | 0.0% |
| Distributable reserves | 133 | €280,037 | €280,037 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,614 | -€3,024 | -€409 | -15.7% |
| Amounts payable | 17/49 | €5,697 | €10,071 | +€4,374 | +76.8% |
| Amounts payable within one year | 42/48 | €5,697 | €10,071 | +€4,374 | +76.8% |
| Trade debts | 44 | €1,969 | €131 | -€1,838 | -93.3% |
| Suppliers | 440/4 | €1,969 | €131 | -€1,838 | -93.3% |
| Taxes, remuneration and social security | 45 | €2,009 | €5,611 | +€3,602 | +179% |
| Taxes | 450/3 | €1,809 | €5,211 | +€3,402 | +188% |
| Remuneration and social security | 454/9 | €200 | €400 | +€200 | +100% |
| Other amounts payable | 47/48 | €1,718 | €4,328 | +€2,610 | +152% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €729 | €10,903 | +€10,175 | +1,397% |
| Other operating charges | 640/8 | €513 | €841 | +€328 | +63.9% |
| Gross operating margin | 9900 | €8,128 | €15,119 | +€6,991 | +86.0% |
| Operating profit (loss) | 9901 | €6,886 | €3,374 | -€3,511 | -51.0% |
| Financial income | 75/76B | €0 | €2 | +€2 | |
| Recurring financial income | 75 | €0 | €2 | +€2 | |
| Financial charges | 65/66B | €83 | €622 | +€539 | +650% |
| Recurring financial charges | 65 | €83 | €203 | +€120 | +145% |
| Non-recurring financial charges | 66B | - | €419 | +€419 | |
| Profit (loss) for the period before taxes | 9903 | €6,803 | €2,754 | -€4,049 | -59.5% |
| Income taxes | 67/77 | €1,796 | €3,163 | +€1,367 | +76.1% |
| Profit (loss) for the period | 9904 | €5,006 | -€409 | -€5,416 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,006 | -€409 | -€5,416 |
Source: filed annual accounts (NBB), financial years ended 30 June 2025 and 30 June 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.