VANAX: 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.
VANAX
Largest movements
- Current investments +€789,000
new in 2024: €789,000
- Cash +€225,121
up €225,121 (+100.4%), from €224,120 to €449,241
mainly Net result for the year (+€1.0m) and Debts after one year (+€600,000)
- Tangible fixed assets +€168,868
up €168,868 (+8.2%), from €2.1m to €2.2m
of which Land and buildings: +€169,109
- Reserves +€1.0m
up €1.0m (+49.7%), from €2.1m to €3.1m
of which Distributable reserves: +€1.0m
- Debts after one year +€600,000
new in 2024: €600,000
- Other debts -€476,277
down €476,277 (-37.0%), from €1.3m to €809,624
- Financial income +€867,161
up €867,161 (+575.5%), from €150,667 to €1.0m
- Gross operating margin -€170,249
down €170,249 (-44.6%), from €382,071 to €211,822
- Staff costs -€39,653
down €39,653, from €36,885 to -€2,768
- Taxes -€39,638
down €39,638 (-84.8%), from €46,768 to €7,130
- Depreciation +€12,741
up €12,741 (+12.3%), from €103,467 to €116,208
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,488,256 | €4,656,597 | +€1.2m | +33.5% |
| Fixed assets | 21/28 | €3,106,636 | €3,275,504 | +€168,868 | +5.4% |
| Tangible fixed assets | 22/27 | €2,069,319 | €2,238,187 | +€168,868 | +8.2% |
| Land and buildings | 22 | €2,068,710 | €2,237,819 | +€169,109 | +8.2% |
| Furniture and vehicles | 24 | €609 | €368 | -€241 | -39.6% |
| Financial fixed assets | 28 | €1,037,317 | €1,037,317 | = | 0.0% |
| Current assets | 29/58 | €381,620 | €1,381,093 | +€999,473 | +261.9% |
| Amounts receivable within one year | 40/41 | €155,473 | €140,607 | -€14,866 | -9.6% |
| Trade receivables | 40 | €150,000 | €0 | -€150,000 | -100.0% |
| Other amounts receivable | 41 | €5,473 | €140,607 | +€135,134 | +2469.0% |
| Current investments | 50/53 | - | €789,000 | +€789,000 | |
| Cash at bank and in hand | 54/58 | €224,120 | €449,241 | +€225,121 | +100.4% |
| Deferred charges and accrued income | 490/1 | €2,027 | €2,245 | +€218 | +10.8% |
| Total equity and liabilities | 10/49 | €3,488,256 | €4,656,597 | +€1.2m | +33.5% |
| Equity | 10/15 | €2,113,569 | €3,133,587 | +€1.0m | +48.3% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €2,051,569 | €3,071,587 | +€1.0m | +49.7% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €2,045,369 | €3,065,387 | +€1.0m | +49.9% |
| Amounts payable | 17/49 | €1,374,687 | €1,523,009 | +€148,323 | +10.8% |
| Amounts payable after more than one year | 17 | - | €600,000 | +€600,000 | |
| Financial debts | 170/4 | - | €600,000 | +€600,000 | |
| Amounts payable within one year | 42/48 | €1,330,279 | €845,044 | -€485,235 | -36.5% |
| Current portion of amounts payable after more than one year | 42 | €18,650 | €22,931 | +€4,281 | +23.0% |
| Trade debts | 44 | €10,019 | €9,465 | -€555 | -5.5% |
| Suppliers | 440/4 | €10,019 | €9,465 | -€555 | -5.5% |
| Taxes, remuneration and social security | 45 | €15,708 | €3,024 | -€12,684 | -80.7% |
| Taxes | 450/3 | €8,762 | €3,024 | -€5,738 | -65.5% |
| Remuneration and social security | 454/9 | €6,946 | €0 | -€6,946 | -100.0% |
| Other amounts payable | 47/48 | €1,285,902 | €809,624 | -€476,277 | -37.0% |
| Accrued charges and deferred income | 492/3 | €44,408 | €77,966 | +€33,558 | +75.6% |
| Remuneration, social security and pensions | 62 | €36,885 | -€2,768 | -€39,653 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €103,467 | €116,208 | +€12,741 | +12.3% |
| Other operating charges | 640/8 | €13,682 | €12,941 | -€741 | -5.4% |
| Gross operating margin | 9900 | €382,071 | €211,822 | -€170,249 | -44.6% |
| Operating profit (loss) | 9901 | €228,037 | €85,440 | -€142,597 | -62.5% |
| Financial income | 75/76B | €150,667 | €1,017,828 | +€867,161 | +575.5% |
| Recurring financial income | 75 | €150,667 | €1,017,828 | +€867,161 | +575.5% |
| Financial charges | 65/66B | €64,546 | €76,121 | +€11,574 | +17.9% |
| Recurring financial charges | 65 | €64,546 | €76,121 | +€11,574 | +17.9% |
| Profit (loss) for the period before taxes | 9903 | €314,157 | €1,027,148 | +€712,990 | +227.0% |
| Income taxes | 67/77 | €46,768 | €7,130 | -€39,638 | -84.8% |
| Profit (loss) for the period | 9904 | €267,389 | €1,020,018 | +€752,629 | +281.5% |
| Profit (loss) for the period to be appropriated | 9905 | €267,389 | €1,020,018 | +€752,629 | +281.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.