VANCAUTHEM: 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.
VANCAUTHEM
Largest movements
- Cash +€401,080
up €401,080 (+81.0%), from €494,990 to €896,070
mainly Current investments (+€375,000) and Net result for the year (+€241,047)
- Current investments -€375,000
down €375,000 (-25.8%), from €1.5m to €1.1m
- Receivables within one year +€35,000
up €35,000 (+15.8%), from €221,447 to €256,447
of which Trade receivables: +€42,155
- Reserves +€70,541
up €70,541 (+3.6%), from €2.0m to €2.0m
- Staff costs +€19,665
up €19,665 (+4.3%), from €452,989 to €472,655
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 | €2,247,092 | €2,306,726 | +€59,633 | +2.7% |
| Fixed assets | 21/28 | €69,915 | €68,316 | -€1,599 | -2.3% |
| Tangible fixed assets | 22/27 | €69,915 | €68,316 | -€1,599 | -2.3% |
| Plant, machinery and equipment | 23 | €6,070 | €3,354 | -€2,716 | -44.7% |
| Furniture and vehicles | 24 | €61,697 | €63,442 | +€1,745 | +2.8% |
| Other tangible fixed assets | 26 | €2,148 | €1,520 | -€628 | -29.2% |
| Current assets | 29/58 | €2,177,177 | €2,238,410 | +€61,233 | +2.8% |
| Amounts receivable within one year | 40/41 | €221,447 | €256,447 | +€35,000 | +15.8% |
| Trade receivables | 40 | €212,947 | €255,102 | +€42,155 | +19.8% |
| Other amounts receivable | 41 | €8,500 | €1,345 | -€7,155 | -84.2% |
| Current investments | 50/53 | €1,455,833 | €1,080,833 | -€375,000 | -25.8% |
| Cash at bank and in hand | 54/58 | €494,990 | €896,070 | +€401,080 | +81.0% |
| Deferred charges and accrued income | 490/1 | €4,906 | €5,059 | +€153 | +3.1% |
| Total equity and liabilities | 10/49 | €2,247,092 | €2,306,726 | +€59,633 | +2.7% |
| Equity | 10/15 | €2,067,422 | €2,137,963 | +€70,541 | +3.4% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €1,967,422 | €2,037,963 | +€70,541 | +3.6% |
| Distributable reserves | 133 | €1,967,422 | €2,037,963 | +€70,541 | +3.6% |
| Amounts payable | 17/49 | €179,670 | €168,762 | -€10,908 | -6.1% |
| Amounts payable after more than one year | 17 | €13,953 | - | -€13,953 | |
| Other amounts payable | 178/9 | €13,953 | - | -€13,953 | |
| Amounts payable within one year | 42/48 | €165,717 | €168,762 | +€3,045 | +1.8% |
| Trade debts | 44 | €5,465 | €10,937 | +€5,472 | +100.1% |
| Suppliers | 440/4 | €5,465 | €10,937 | +€5,472 | +100.1% |
| Taxes, remuneration and social security | 45 | €160,252 | €157,825 | -€2,427 | -1.5% |
| Taxes | 450/3 | €104,662 | €104,330 | -€332 | -0.3% |
| Remuneration and social security | 454/9 | €55,589 | €53,495 | -€2,094 | -3.8% |
| Remuneration, social security and pensions | 62 | €452,989 | €472,655 | +€19,665 | +4.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,957 | €15,512 | +€5,555 | +55.8% |
| Other operating charges | 640/8 | €6,624 | €3,394 | -€3,231 | -48.8% |
| Gross operating margin | 9900 | €807,826 | €807,242 | -€584 | -0.1% |
| Operating profit (loss) | 9901 | €338,255 | €315,681 | -€22,575 | -6.7% |
| Financial income | 75/76B | €31,803 | €34,063 | +€2,260 | +7.1% |
| Recurring financial income | 75 | €31,803 | €34,063 | +€2,260 | +7.1% |
| Financial charges | 65/66B | €226 | €475 | +€248 | +109.7% |
| Recurring financial charges | 65 | €226 | €475 | +€248 | +109.7% |
| Profit (loss) for the period before taxes | 9903 | €369,832 | €349,269 | -€20,563 | -5.6% |
| Income taxes | 67/77 | €115,197 | €108,223 | -€6,974 | -6.1% |
| Profit (loss) for the period | 9904 | €254,636 | €241,047 | -€13,589 | -5.3% |
| Profit (loss) for the period to be appropriated | 9905 | €254,636 | €241,047 | -€13,589 | -5.3% |
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 9 October 2026 via checked.be.