VANBACO: 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.
VANBACO
Largest movements
- Cash +€27,075
up €27,075 (+11.3%), from €240,348 to €267,423
mainly Current investments (+€26,106) and Receivables within one year (+€5,186)
- Current investments -€26,106
no longer reported in 2025 (was €26,106)
- Receivables within one year -€5,186
down €5,186 (-48.2%), from €10,761 to €5,575
of which Trade receivables: -€2,888
- Tax, wage and social debts -€5,051
down €5,051 (-57.0%), from €8,857 to €3,806
of which Remuneration and social security: -€8,857
- Provisions -€3,750
no longer reported in 2025 (was €3,750)
- Provisions -€4,500
down €4,500, from €750 to -€3,750
- Staff costs +€3,921
up €3,921 (+6.3%), from €61,877 to €65,798
- Financial income -€2,613
down €2,613 (-42.7%), from €6,118 to €3,505
- Gross operating margin +€1,767
up €1,767 (+2.7%), from €66,037 to €67,804
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.
Derived cash bridge
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 | €352,783 | €348,171 | -€4,612 | -1.3% |
| Fixed assets | 21/28 | €75,568 | €75,173 | -€395 | -0.5% |
| Tangible fixed assets | 22/27 | €75,518 | €75,124 | -€394 | -0.5% |
| Land and buildings | 22 | €73,154 | €73,153 | -€1 | 0.0% |
| Plant, machinery and equipment | 23 | €2,364 | €1,970 | -€394 | -16.7% |
| Financial fixed assets | 28 | €50 | €50 | -€0 | -0.8% |
| Current assets | 29/58 | €277,215 | €272,998 | -€4,217 | -1.5% |
| Amounts receivable within one year | 40/41 | €10,761 | €5,575 | -€5,186 | -48.2% |
| Trade receivables | 40 | €7,411 | €4,523 | -€2,888 | -39.0% |
| Other amounts receivable | 41 | €3,350 | €1,051 | -€2,299 | -68.6% |
| Current investments | 50/53 | €26,106 | - | -€26,106 | |
| Cash at bank and in hand | 54/58 | €240,348 | €267,423 | +€27,075 | +11.3% |
| Total equity and liabilities | 10/49 | €352,783 | €348,171 | -€4,612 | -1.3% |
| Equity | 10/15 | €340,175 | €342,614 | +€2,439 | +0.7% |
| Contributions | 10/11 | €298,000 | €298,000 | = | 0.0% |
| Capital | 10 | €298,000 | €298,000 | = | 0.0% |
| Issued capital | 100 | €298,000 | €298,000 | = | 0.0% |
| Reserves | 13 | €13,100 | €13,300 | +€200 | +1.5% |
| Non-distributable reserves | 130/1 | €3,100 | €3,300 | +€200 | +6.5% |
| Legal reserve | 130 | €3,100 | €3,300 | +€200 | +6.5% |
| Distributable reserves | 133 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €29,075 | €31,314 | +€2,239 | +7.7% |
| Provisions and deferred taxes | 16 | €3,750 | - | -€3,750 | |
| Provisions for liabilities and charges | 160/5 | €3,750 | - | -€3,750 | |
| Major repairs and maintenance | 162 | €3,750 | - | -€3,750 | |
| Amounts payable | 17/49 | €8,858 | €5,556 | -€3,302 | -37.3% |
| Amounts payable within one year | 42/48 | €8,857 | €5,556 | -€3,301 | -37.3% |
| Trade debts | 44 | - | €1,751 | +€1,751 | |
| Suppliers | 440/4 | - | €1,751 | +€1,751 | |
| Taxes, remuneration and social security | 45 | €8,857 | €3,806 | -€5,051 | -57.0% |
| Taxes | 450/3 | - | €3,806 | +€3,806 | |
| Remuneration and social security | 454/9 | €8,857 | - | -€8,857 | |
| Accrued charges and deferred income | 492/3 | €1 | - | -€1 | |
| Remuneration, social security and pensions | 62 | €61,877 | €65,798 | +€3,921 | +6.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €394 | €394 | +€0 | 0.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €750 | -€3,750 | -€4,500 | |
| Other operating charges | 640/8 | €6,137 | €6,278 | +€141 | +2.3% |
| Non-recurring operating charges | 66A | €100 | - | -€100 | |
| Gross operating margin | 9900 | €66,037 | €67,804 | +€1,767 | +2.7% |
| Operating profit (loss) | 9901 | -€3,221 | -€916 | +€2,305 | +71.6% |
| Financial income | 75/76B | €6,118 | €3,505 | -€2,613 | -42.7% |
| Recurring financial income | 75 | €6,118 | €3,505 | -€2,613 | -42.7% |
| Financial charges | 65/66B | €24 | €151 | +€127 | +528% |
| Recurring financial charges | 65 | €24 | €151 | +€127 | +528% |
| Profit (loss) for the period before taxes | 9903 | €2,873 | €2,439 | -€434 | -15.1% |
| Profit (loss) for the period | 9904 | €2,873 | €2,439 | -€434 | -15.1% |
| Profit (loss) for the period to be appropriated | 9905 | €2,873 | €2,439 | -€434 | -15.1% |
Source: filed annual accounts (NBB), financial years ended 30 December 2024 and 30 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.