VANBEK: 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.
VANBEK
Largest movements
- Cash -€172,756
down €172,756 (-39.8%), from €434,584 to €261,828
mainly Net result for the year (-€168,058) and Receivables within one year (-€29,259)
- Receivables within one year +€29,259
up €29,259 (+18.3%), from €159,539 to €188,798
of which Other amounts receivable: +€15,539
- Profit (loss) carried forward -€109,196
new in 2025: -€109,196
- Reserves -€58,862
down €58,862 (-95.0%), from €61,962 to €3,100
of which Distributable reserves: -€58,862
- Trade debts +€43,859
up €43,859 (+14.1%), from €310,557 to €354,416
- Tax, wage and social debts -€10,698
down €10,698 (-8.2%), from €129,728 to €119,030
of which Remuneration and social security: -€8,167
- Other debts -€7,452
down €7,452 (-6.2%), from €120,583 to €113,131
- Gross operating margin -€353,775
down €353,775 (-31.9%), from €1.1m to €755,051
- Staff costs -€46,253
down €46,253 (-4.9%), from €950,802 to €904,549
- Other operating charges -€11,611
down €11,611 (-84.4%), from €13,752 to €2,141
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 | €653,831 | €511,481 | -€142,350 | -21.8% |
| Fixed assets | 21/28 | €24,222 | €26,979 | +€2,757 | +11.4% |
| Tangible fixed assets | 22/27 | €24,222 | €26,979 | +€2,757 | +11.4% |
| Land and buildings | 22 | €2,357 | €2,189 | -€168 | -7.1% |
| Plant, machinery and equipment | 23 | €18,128 | €15,094 | -€3,034 | -16.7% |
| Furniture and vehicles | 24 | €2,372 | €3,858 | +€1,486 | +62.6% |
| Other tangible fixed assets | 26 | €1,365 | €5,838 | +€4,473 | +327.6% |
| Current assets | 29/58 | €629,608 | €484,502 | -€145,107 | -23.0% |
| Stocks and contracts in progress | 3 | €22,809 | €24,869 | +€2,060 | +9.0% |
| Stocks | 30/36 | €22,809 | €24,869 | +€2,060 | +9.0% |
| Amounts receivable within one year | 40/41 | €159,539 | €188,798 | +€29,259 | +18.3% |
| Trade receivables | 40 | €31,337 | €45,057 | +€13,720 | +43.8% |
| Other amounts receivable | 41 | €128,201 | €143,741 | +€15,539 | +12.1% |
| Cash at bank and in hand | 54/58 | €434,584 | €261,828 | -€172,756 | -39.8% |
| Deferred charges and accrued income | 490/1 | €12,677 | €9,008 | -€3,669 | -28.9% |
| Total equity and liabilities | 10/49 | €653,831 | €511,481 | -€142,350 | -21.8% |
| Equity | 10/15 | €92,962 | -€75,096 | -€168,058 | |
| Contributions | 10/11 | €31,000 | €31,000 | = | 0.0% |
| Reserves | 13 | €61,962 | €3,100 | -€58,862 | -95.0% |
| Non-distributable reserves | 130/1 | €3,100 | €3,100 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,100 | €3,100 | = | 0.0% |
| Distributable reserves | 133 | €58,862 | - | -€58,862 | |
| Profit (loss) carried forward | 14 | - | -€109,196 | -€109,196 | |
| Amounts payable | 17/49 | €560,869 | €586,577 | +€25,708 | +4.6% |
| Amounts payable within one year | 42/48 | €560,869 | €586,577 | +€25,708 | +4.6% |
| Trade debts | 44 | €310,557 | €354,416 | +€43,859 | +14.1% |
| Suppliers | 440/4 | €310,557 | €354,416 | +€43,859 | +14.1% |
| Taxes, remuneration and social security | 45 | €129,728 | €119,030 | -€10,698 | -8.2% |
| Taxes | 450/3 | €2,552 | €20 | -€2,532 | -99.2% |
| Remuneration and social security | 454/9 | €127,177 | €119,010 | -€8,167 | -6.4% |
| Other amounts payable | 47/48 | €120,583 | €113,131 | -€7,452 | -6.2% |
| Remuneration, social security and pensions | 62 | €950,802 | €904,549 | -€46,253 | -4.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,543 | €5,051 | +€2,508 | +98.6% |
| Other operating charges | 640/8 | €13,752 | €2,141 | -€11,611 | -84.4% |
| Gross operating margin | 9900 | €1,108,826 | €755,051 | -€353,775 | -31.9% |
| Operating profit (loss) | 9901 | €141,729 | -€156,690 | -€298,420 | |
| Financial income | 75/76B | €2,431 | €1,291 | -€1,140 | -46.9% |
| Recurring financial income | 75 | €2,431 | €1,291 | -€1,140 | -46.9% |
| Financial charges | 65/66B | €14,070 | €12,142 | -€1,928 | -13.7% |
| Recurring financial charges | 65 | €14,070 | €12,142 | -€1,928 | -13.7% |
| Profit (loss) for the period before taxes | 9903 | €130,090 | -€167,541 | -€297,631 | |
| Income taxes | 67/77 | €5,423 | €517 | -€4,906 | -90.5% |
| Profit (loss) for the period | 9904 | €124,667 | -€168,058 | -€292,725 | |
| Profit (loss) for the period to be appropriated | 9905 | €124,667 | -€168,058 | -€292,725 |
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 3 October 2026 via checked.be.