VANATIPIK: 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.
VANATIPIK
Largest movements
- Receivables within one year +€81,227
up €81,227 (+151.6%), from €53,566 to €134,793
of which Trade receivables: +€60,145
- Cash +€14,444
up €14,444 (+41.1%), from €35,164 to €49,609
mainly Debts after one year (+€54,897) and Trade debts (+€23,858)
- Tangible fixed assets -€13,817
down €13,817 (-36.4%), from €37,965 to €24,148
of which Plant, machinery and equipment: -€12,618
- Stocks and contracts +€9,634
up €9,634 (+22.4%), from €42,985 to €52,619
of which Stocks: +€31,024
- Debts after one year +€54,897
up €54,897 (+268.4%), from €20,452 to €75,348
- Trade debts +€23,858
up €23,858 (+88.9%), from €26,830 to €50,688
- Reserves +€15,000
new in 2025: €15,000
- Advances received -€6,968
down €6,968 (-17.8%), from €39,254 to €32,286
- Short-term financial debts +€6,441
new in 2025: €6,441
- Staff costs +€20,212
up €20,212 (+15.9%), from €127,000 to €147,212
- Depreciation +€10,141
up €10,141 (+275.8%), from €3,677 to €13,817
- Gross operating margin -€7,921
down €7,921 (-4.2%), from €190,674 to €182,753
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 | €180,534 | €271,842 | +€91,308 | +50.6% |
| Fixed assets | 21/28 | €40,815 | €26,998 | -€13,817 | -33.9% |
| Tangible fixed assets | 22/27 | €37,965 | €24,148 | -€13,817 | -36.4% |
| Plant, machinery and equipment | 23 | €34,783 | €22,165 | -€12,618 | -36.3% |
| Furniture and vehicles | 24 | €3,182 | €1,982 | -€1,199 | -37.7% |
| Financial fixed assets | 28 | €2,850 | €2,850 | = | 0.0% |
| Current assets | 29/58 | €139,720 | €244,844 | +€105,125 | +75.2% |
| Stocks and contracts in progress | 3 | €42,985 | €52,619 | +€9,634 | +22.4% |
| Stocks | 30/36 | €3,976 | €35,000 | +€31,024 | +780.3% |
| Contracts in progress | 37 | €39,009 | €17,619 | -€21,391 | -54.8% |
| Amounts receivable within one year | 40/41 | €53,566 | €134,793 | +€81,227 | +151.6% |
| Trade receivables | 40 | €51,148 | €111,293 | +€60,145 | +117.6% |
| Other amounts receivable | 41 | €2,418 | €23,500 | +€21,082 | +871.9% |
| Cash at bank and in hand | 54/58 | €35,164 | €49,609 | +€14,444 | +41.1% |
| Deferred charges and accrued income | 490/1 | €8,005 | €7,824 | -€180 | -2.3% |
| Total equity and liabilities | 10/49 | €180,534 | €271,842 | +€91,308 | +50.6% |
| Equity | 10/15 | €47,598 | €63,342 | +€15,744 | +33.1% |
| Contributions | 10/11 | €47,500 | €47,500 | = | 0.0% |
| Reserves | 13 | - | €15,000 | +€15,000 | |
| Distributable reserves | 133 | - | €15,000 | +€15,000 | |
| Profit (loss) carried forward | 14 | €98 | €842 | +€744 | +757.9% |
| Amounts payable | 17/49 | €132,936 | €208,500 | +€75,564 | +56.8% |
| Amounts payable after more than one year | 17 | €20,452 | €75,348 | +€54,897 | +268.4% |
| Financial debts | 170/4 | €20,452 | €75,348 | +€54,897 | +268.4% |
| Amounts payable within one year | 42/48 | €112,485 | €133,152 | +€20,667 | +18.4% |
| Current portion of amounts payable after more than one year | 42 | €4,867 | €2,579 | -€2,289 | -47.0% |
| Financial debts | 43 | - | €6,441 | +€6,441 | |
| Credit institutions | 430/8 | - | €6,441 | +€6,441 | |
| Trade debts | 44 | €26,830 | €50,688 | +€23,858 | +88.9% |
| Suppliers | 440/4 | €26,830 | €50,688 | +€23,858 | +88.9% |
| Advances received on contracts in progress | 46 | €39,254 | €32,286 | -€6,968 | -17.8% |
| Taxes, remuneration and social security | 45 | €41,123 | €38,990 | -€2,133 | -5.2% |
| Taxes | 450/3 | €20,377 | €16,244 | -€4,133 | -20.3% |
| Remuneration and social security | 454/9 | €20,746 | €22,746 | +€2,000 | +9.6% |
| Other amounts payable | 47/48 | €410 | €2,168 | +€1,757 | +428.5% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €127,000 | €147,212 | +€20,212 | +15.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,677 | €13,817 | +€10,141 | +275.8% |
| Other operating charges | 640/8 | €2,631 | €2,944 | +€313 | +11.9% |
| Gross operating margin | 9900 | €190,674 | €182,753 | -€7,921 | -4.2% |
| Operating profit (loss) | 9901 | €57,366 | €18,780 | -€38,586 | -67.3% |
| Financial income | 75/76B | €4 | €106 | +€102 | +2400.2% |
| Recurring financial income | 75 | €4 | €106 | +€102 | +2400.2% |
| Financial charges | 65/66B | €779 | €1,642 | +€863 | +110.8% |
| Recurring financial charges | 65 | €779 | €1,642 | +€863 | +110.8% |
| Profit (loss) for the period before taxes | 9903 | €56,591 | €17,244 | -€39,347 | -69.5% |
| Income taxes | 67/77 | €2,948 | €1,500 | -€1,448 | -49.1% |
| Profit (loss) for the period | 9904 | €53,643 | €15,744 | -€37,899 | -70.7% |
| Profit (loss) for the period to be appropriated | 9905 | €53,643 | €15,744 | -€37,899 | -70.7% |
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 8 October 2026 via checked.be.