Vancamat: 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.
Vancamat
Largest movements
- Tangible fixed assets -€78,335
down €78,335 (-31.8%), from €246,466 to €168,131
of which Furniture and vehicles: -€45,971
- Cash -€43,624
down €43,624 (-73.4%), from €59,414 to €15,791
mainly Trade debts (-€79,199) and Tax, wage and social debts (-€46,013)
- Receivables within one year -€15,222
down €15,222 (-44.4%), from €34,294 to €19,072
of which Trade receivables: -€11,700
- Stocks and contracts +€8,098
up €8,098 (+3.9%), from €205,786 to €213,884
- Trade debts -€79,199
down €79,199 (-32.4%), from €244,565 to €165,366
- Other debts +€76,370
up €76,370 (+116%), from €66,012 to €142,381
- Tax, wage and social debts -€46,013
no longer reported in 2025 (was €46,013)
of which Remuneration and social security: -€37,106
- Profit (loss) carried forward -€30,931
new in 2025: -€30,931
- Debts after one year -€29,661
no longer reported in 2025 (was €29,661)
- Gross operating margin -€59,480
down €59,480 (-27.7%), from €214,930 to €155,450
- Financial charges +€11,847
up €11,847 (+392%), from €3,026 to €14,873
of which Non-recurring financial charges: +€10,378
- Depreciation -€10,912
down €10,912 (-21.1%), from €51,759 to €40,847
- Staff costs -€10,782
down €10,782 (-7.6%), from €142,589 to €131,808
- Financial income +€3,633
up €3,633 (+754%), from €482 to €4,115
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 | €550,370 | €426,775 | -€123,596 | -22.5% |
| Fixed assets | 21/28 | €246,466 | €171,501 | -€74,965 | -30.4% |
| Tangible fixed assets | 22/27 | €246,466 | €168,131 | -€78,335 | -31.8% |
| Plant, machinery and equipment | 23 | €47,477 | €31,522 | -€15,955 | -33.6% |
| Furniture and vehicles | 24 | €62,116 | €16,144 | -€45,971 | -74.0% |
| Other tangible fixed assets | 26 | €136,873 | €120,465 | -€16,408 | -12.0% |
| Financial fixed assets | 28 | - | €3,370 | +€3,370 | |
| Current assets | 29/58 | €303,904 | €255,274 | -€48,630 | -16.0% |
| Stocks and contracts in progress | 3 | €205,786 | €213,884 | +€8,098 | +3.9% |
| Stocks | 30/36 | €205,786 | €213,884 | +€8,098 | +3.9% |
| Amounts receivable within one year | 40/41 | €34,294 | €19,072 | -€15,222 | -44.4% |
| Trade receivables | 40 | €21,327 | €9,627 | -€11,700 | -54.9% |
| Other amounts receivable | 41 | €12,967 | €9,445 | -€3,522 | -27.2% |
| Cash at bank and in hand | 54/58 | €59,414 | €15,791 | -€43,624 | -73.4% |
| Deferred charges and accrued income | 490/1 | €4,409 | €6,527 | +€2,118 | +48.0% |
| Total equity and liabilities | 10/49 | €550,370 | €426,775 | -€123,596 | -22.5% |
| Equity | 10/15 | €149,958 | €119,027 | -€30,931 | -20.6% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | €109,958 | €109,958 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €18,065 | €18,065 | = | 0.0% |
| Distributable reserves | 133 | €91,893 | €91,893 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€30,931 | -€30,931 | |
| Amounts payable | 17/49 | €400,412 | €307,748 | -€92,665 | -23.1% |
| Amounts payable after more than one year | 17 | €29,661 | - | -€29,661 | |
| Financial debts | 170/4 | €29,661 | - | -€29,661 | |
| Amounts payable within one year | 42/48 | €370,752 | €307,748 | -€63,004 | -17.0% |
| Current portion of amounts payable after more than one year | 42 | €11,680 | - | -€11,680 | |
| Trade debts | 44 | €244,565 | €165,366 | -€79,199 | -32.4% |
| Suppliers | 440/4 | €244,565 | €165,366 | -€79,199 | -32.4% |
| Advances received on contracts in progress | 46 | €2,482 | - | -€2,482 | |
| Taxes, remuneration and social security | 45 | €46,013 | - | -€46,013 | |
| Taxes | 450/3 | €8,907 | - | -€8,907 | |
| Remuneration and social security | 454/9 | €37,106 | - | -€37,106 | |
| Other amounts payable | 47/48 | €66,012 | €142,381 | +€76,370 | +116% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €142,589 | €131,808 | -€10,782 | -7.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,759 | €40,847 | -€10,912 | -21.1% |
| Other operating charges | 640/8 | €1,606 | €2,677 | +€1,071 | +66.6% |
| Gross operating margin | 9900 | €214,930 | €155,450 | -€59,480 | -27.7% |
| Operating profit (loss) | 9901 | €18,976 | -€19,881 | -€38,857 | |
| Financial income | 75/76B | €482 | €4,115 | +€3,633 | +754% |
| Recurring financial income | 75 | €482 | €4,115 | +€3,633 | +754% |
| Financial charges | 65/66B | €3,026 | €14,873 | +€11,847 | +392% |
| Recurring financial charges | 65 | €3,026 | €4,495 | +€1,469 | +48.6% |
| Non-recurring financial charges | 66B | - | €10,378 | +€10,378 | |
| Profit (loss) for the period before taxes | 9903 | €16,432 | -€30,639 | -€47,071 | |
| Income taxes | 67/77 | €405 | €292 | -€112 | -27.8% |
| Profit (loss) for the period | 9904 | €16,027 | -€30,931 | -€46,958 | |
| Profit (loss) for the period to be appropriated | 9905 | €16,027 | -€30,931 | -€46,958 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.