VANBOK: 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.
VANBOK
Largest movements
- Cash +€74,534
up €74,534 (+18.5%), from €402,701 to €477,235
mainly Other debts (+€217,090) and Net result for the year (+€139,103)
- Receivables within one year -€6,812
down €6,812 (-20.3%), from €33,528 to €26,716
of which Trade receivables: -€7,159
- Other debts +€217,090
up €217,090 (+92.2%), from €235,352 to €452,443
- Reserves -€119,897
down €119,897 (-99.6%), from €120,367 to €470
- Tax, wage and social debts -€30,040
down €30,040 (-33.9%), from €88,498 to €58,458
- Gross operating margin +€35,109
up €35,109 (+21.5%), from €163,348 to €198,457
- Taxes +€12,206
up €12,206 (+32.6%), from €37,447 to €49,653
- Depreciation +€3,291
up €3,291 (+97.7%), from €3,368 to €6,659
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 | €454,217 | €524,869 | +€70,652 | +15.6% |
| Fixed assets | 21/28 | €16,276 | €18,475 | +€2,199 | +13.5% |
| Tangible fixed assets | 22/27 | €16,276 | €18,475 | +€2,199 | +13.5% |
| Plant, machinery and equipment | 23 | €5,539 | €4,339 | -€1,200 | -21.7% |
| Furniture and vehicles | 24 | €10,737 | €14,136 | +€3,399 | +31.7% |
| Current assets | 29/58 | €437,941 | €506,394 | +€68,453 | +15.6% |
| Amounts receivable within one year | 40/41 | €33,528 | €26,716 | -€6,812 | -20.3% |
| Trade receivables | 40 | €33,528 | €26,369 | -€7,159 | -21.4% |
| Other amounts receivable | 41 | - | €347 | +€347 | |
| Cash at bank and in hand | 54/58 | €402,701 | €477,235 | +€74,534 | +18.5% |
| Deferred charges and accrued income | 490/1 | €1,712 | €2,443 | +€731 | +42.7% |
| Total equity and liabilities | 10/49 | €454,217 | €524,869 | +€70,652 | +15.6% |
| Equity | 10/15 | €130,367 | €10,470 | -€119,897 | -92.0% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €120,367 | €470 | -€119,897 | -99.6% |
| Distributable reserves | 133 | €120,367 | €470 | -€119,897 | -99.6% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €323,850 | €514,399 | +€190,549 | +58.8% |
| Amounts payable within one year | 42/48 | €323,850 | €514,399 | +€190,549 | +58.8% |
| Trade debts | 44 | - | €3,499 | +€3,499 | |
| Suppliers | 440/4 | - | €3,499 | +€3,499 | |
| Taxes, remuneration and social security | 45 | €88,498 | €58,458 | -€30,040 | -33.9% |
| Taxes | 450/3 | €88,498 | €58,458 | -€30,040 | -33.9% |
| Other amounts payable | 47/48 | €235,352 | €452,443 | +€217,090 | +92.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,368 | €6,659 | +€3,291 | +97.7% |
| Other operating charges | 640/8 | €837 | €841 | +€5 | +0.6% |
| Gross operating margin | 9900 | €163,348 | €198,457 | +€35,109 | +21.5% |
| Operating profit (loss) | 9901 | €159,144 | €190,957 | +€31,813 | +20.0% |
| Financial income | 75/76B | €1 | €1 | +€0 | +11.1% |
| Recurring financial income | 75 | €1 | €1 | +€0 | +11.1% |
| Financial charges | 65/66B | €1,331 | €2,201 | +€870 | +65.3% |
| Recurring financial charges | 65 | €1,331 | €2,201 | +€870 | +65.3% |
| Profit (loss) for the period before taxes | 9903 | €157,813 | €188,757 | +€30,943 | +19.6% |
| Income taxes | 67/77 | €37,447 | €49,653 | +€12,206 | +32.6% |
| Profit (loss) for the period | 9904 | €120,366 | €139,103 | +€18,737 | +15.6% |
| Profit (loss) for the period to be appropriated | 9905 | €120,366 | €139,103 | +€18,737 | +15.6% |
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 6 October 2026 via checked.be.