VANBUEL: 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.
VANBUEL
Largest movements
- Tangible fixed assets -€51,146
down €51,146 (-5.6%), from €920,339 to €869,192
- Cash +€31,621
up €31,621 (+612.3%), from €5,164 to €36,785
mainly Depreciation (+€52,246) and Receivables within one year (+€9,252)
- Debts after one year -€24,168
down €24,168 (-60.8%), from €39,720 to €15,552
- Short-term financial debts -€10,416
down €10,416 (-49.3%), from €21,131 to €10,714
- Gross operating margin +€16,580
up €16,580 (+38.2%), from €43,375 to €59,955
- Other operating charges -€1,492
down €1,492 (-36.2%), from €4,123 to €2,631
- Financial charges -€1,041
down €1,041 (-39.6%), from €2,625 to €1,584
- Depreciation +€857
up €857 (+1.7%), from €51,390 to €52,246
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 | €946,243 | €919,228 | -€27,015 | -2.9% |
| Fixed assets | 21/28 | €920,339 | €869,192 | -€51,146 | -5.6% |
| Tangible fixed assets | 22/27 | €920,339 | €869,192 | -€51,146 | -5.6% |
| Land and buildings | 22 | €703,702 | €695,775 | -€7,927 | -1.1% |
| Plant, machinery and equipment | 23 | €99,881 | €82,747 | -€17,134 | -17.2% |
| Furniture and vehicles | 24 | €84,085 | €64,533 | -€19,552 | -23.3% |
| Leasing and similar rights | 25 | €32,670 | €26,136 | -€6,534 | -20.0% |
| Current assets | 29/58 | €25,904 | €50,036 | +€24,132 | +93.2% |
| Amounts receivable within one year | 40/41 | €17,192 | €7,940 | -€9,252 | -53.8% |
| Trade receivables | 40 | €16,894 | €7,204 | -€9,690 | -57.4% |
| Other amounts receivable | 41 | €298 | €736 | +€438 | +147.0% |
| Cash at bank and in hand | 54/58 | €5,164 | €36,785 | +€31,621 | +612.3% |
| Deferred charges and accrued income | 490/1 | €3,548 | €5,311 | +€1,763 | +49.7% |
| Total equity and liabilities | 10/49 | €946,243 | €919,228 | -€27,015 | -2.9% |
| Equity | 10/15 | €783,737 | €787,238 | +€3,501 | +0.4% |
| Contributions | 10/11 | €798,485 | €798,485 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€14,748 | -€11,247 | +€3,501 | +23.7% |
| Amounts payable | 17/49 | €162,505 | €131,990 | -€30,516 | -18.8% |
| Amounts payable after more than one year | 17 | €39,720 | €15,552 | -€24,168 | -60.8% |
| Financial debts | 170/4 | €39,720 | €15,552 | -€24,168 | -60.8% |
| Amounts payable within one year | 42/48 | €122,785 | €115,606 | -€7,180 | -5.8% |
| Current portion of amounts payable after more than one year | 42 | €13,056 | €13,454 | +€397 | +3.0% |
| Financial debts | 43 | €21,131 | €10,714 | -€10,416 | -49.3% |
| Credit institutions | 430/8 | €21,131 | €10,714 | -€10,416 | -49.3% |
| Trade debts | 44 | €1,546 | €1,469 | -€77 | -5.0% |
| Suppliers | 440/4 | €1,546 | €1,469 | -€77 | -5.0% |
| Taxes, remuneration and social security | 45 | - | €784 | +€784 | |
| Taxes | 450/3 | - | €784 | +€784 | |
| Other amounts payable | 47/48 | €87,052 | €89,185 | +€2,133 | +2.4% |
| Accrued charges and deferred income | 492/3 | - | €831 | +€831 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,390 | €52,246 | +€857 | +1.7% |
| Other operating charges | 640/8 | €4,123 | €2,631 | -€1,492 | -36.2% |
| Gross operating margin | 9900 | €43,375 | €59,955 | +€16,580 | +38.2% |
| Operating profit (loss) | 9901 | -€12,138 | €5,078 | +€17,215 | |
| Financial income | 75/76B | €22 | €11 | -€11 | -50.0% |
| Recurring financial income | 75 | €22 | €11 | -€11 | -50.0% |
| Financial charges | 65/66B | €2,625 | €1,584 | -€1,041 | -39.6% |
| Recurring financial charges | 65 | €2,625 | €1,584 | -€1,041 | -39.6% |
| Profit (loss) for the period before taxes | 9903 | -€14,741 | €3,504 | +€18,245 | |
| Income taxes | 67/77 | €7 | €3 | -€4 | -54.7% |
| Profit (loss) for the period | 9904 | -€14,748 | €3,501 | +€18,249 | |
| Profit (loss) for the period to be appropriated | 9905 | -€14,748 | €3,501 | +€18,249 |
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 4 October 2026 via checked.be.