VANCAL: 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.
VANCAL
Largest movements
- Receivables within one year +€17,187
up €17,187 (+8.6%), from €199,650 to €216,837
of which Trade receivables: +€11,195
- Other debts +€95,384
up €95,384 (+181.3%), from €52,625 to €148,009
- Tax, wage and social debts -€56,004
down €56,004 (-94.3%), from €59,379 to €3,375
- Reserves -€20,402
down €20,402 (-24.7%), from €82,524 to €62,122
- Gross operating margin -€64,607
down €64,607 (-62.0%), from €104,152 to €39,545
- Financial charges +€59,399
up €59,399 (+439989.6%), from €14 to €59,412
- Taxes -€20,965
down €20,965 (-100.0%), from €20,965 to €0
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €199,789 | €218,775 | +€18,986 | +9.5% |
| Current assets | 29/58 | €199,789 | €218,775 | +€18,986 | +9.5% |
| Amounts receivable within one year | 40/41 | €199,650 | €216,837 | +€17,187 | +8.6% |
| Trade receivables | 40 | €199,650 | €210,845 | +€11,195 | +5.6% |
| Other amounts receivable | 41 | - | €5,992 | +€5,992 | |
| Cash at bank and in hand | 54/58 | €139 | €1,937 | +€1,798 | +1291.6% |
| Total equity and liabilities | 10/49 | €199,789 | €218,775 | +€18,986 | +9.5% |
| Equity | 10/15 | €87,524 | €67,122 | -€20,402 | -23.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €82,524 | €62,122 | -€20,402 | -24.7% |
| Distributable reserves | 133 | €82,524 | €62,122 | -€20,402 | -24.7% |
| Amounts payable | 17/49 | €112,265 | €151,653 | +€39,387 | +35.1% |
| Amounts payable within one year | 42/48 | €112,003 | €151,384 | +€39,381 | +35.2% |
| Taxes, remuneration and social security | 45 | €59,379 | €3,375 | -€56,004 | -94.3% |
| Taxes | 450/3 | €59,379 | €3,375 | -€56,004 | -94.3% |
| Other amounts payable | 47/48 | €52,625 | €148,009 | +€95,384 | +181.3% |
| Accrued charges and deferred income | 492/3 | €262 | €268 | +€7 | +2.6% |
| Other operating charges | 640/8 | €649 | €534 | -€115 | -17.7% |
| Gross operating margin | 9900 | €104,152 | €39,545 | -€64,607 | -62.0% |
| Operating profit (loss) | 9901 | €103,503 | €39,010 | -€64,493 | -62.3% |
| Financial charges | 65/66B | €14 | €59,412 | +€59,399 | +439989.6% |
| Recurring financial charges | 65 | €14 | €59,412 | +€59,399 | +439989.6% |
| Profit (loss) for the period before taxes | 9903 | €103,489 | -€20,402 | -€123,891 | |
| Income taxes | 67/77 | €20,965 | €0 | -€20,965 | -100.0% |
| Profit (loss) for the period | 9904 | €82,524 | -€20,402 | -€102,926 | |
| Profit (loss) for the period to be appropriated | 9905 | €82,524 | -€20,402 | -€102,926 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2025 and 30 June 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.