VANCAVEST: 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.
VANCAVEST
Largest movements
- Cash -€25,589
down €25,589 (-35.8%), from €71,485 to €45,895
mainly Contributions, distributions and other (-€30,000) and Trade debts (-€19,411)
- Receivables within one year -€24,093
down €24,093 (-30.5%), from €78,900 to €54,807
of which Trade receivables: -€21,058
- Reserves -€34,000
down €34,000 (-39.1%), from €87,000 to €53,000
- Trade debts -€19,411
down €19,411 (-58.0%), from €33,494 to €14,084
- Other debts +€3,001
up €3,001 (+504%), from €596 to €3,597
- Gross operating margin -€59,423
down €59,423 (-94.4%), from €62,915 to €3,493
- Taxes -€11,622
down €11,622 (-97.1%), from €11,964 to €343
- Financial charges -€11,525
down €11,525 (-70.4%), from €16,371 to €4,846
- Other operating charges +€1,150
up €1,150 (+105%), from €1,096 to €2,246
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.
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 | €151,825 | €102,402 | -€49,423 | -32.6% |
| Fixed assets | 21/28 | €1,028 | €620 | -€407 | -39.6% |
| Tangible fixed assets | 22/27 | €500 | €93 | -€407 | -81.5% |
| Furniture and vehicles | 24 | €500 | €93 | -€407 | -81.5% |
| Financial fixed assets | 28 | €528 | €528 | = | 0.0% |
| Current assets | 29/58 | €150,797 | €101,782 | -€49,015 | -32.5% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €78,900 | €54,807 | -€24,093 | -30.5% |
| Trade receivables | 40 | €75,865 | €54,807 | -€21,058 | -27.8% |
| Other amounts receivable | 41 | €3,036 | €0 | -€3,036 | -100% |
| Cash at bank and in hand | 54/58 | €71,485 | €45,895 | -€25,589 | -35.8% |
| Deferred charges and accrued income | 490/1 | €412 | €1,079 | +€667 | +162% |
| Total equity and liabilities | 10/49 | €151,825 | €102,402 | -€49,423 | -32.6% |
| Equity | 10/15 | €106,202 | €71,855 | -€34,348 | -32.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €87,000 | €53,000 | -€34,000 | -39.1% |
| Distributable reserves | 133 | €87,000 | €53,000 | -€34,000 | -39.1% |
| Profit (loss) carried forward | 14 | €602 | €255 | -€348 | -57.7% |
| Amounts payable | 17/49 | €45,622 | €30,547 | -€15,075 | -33.0% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €45,517 | €30,547 | -€14,970 | -32.9% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €33,494 | €14,084 | -€19,411 | -58.0% |
| Suppliers | 440/4 | €33,494 | €14,084 | -€19,411 | -58.0% |
| Taxes, remuneration and social security | 45 | €11,427 | €12,867 | +€1,440 | +12.6% |
| Taxes | 450/3 | €9,477 | €10,577 | +€1,100 | +11.6% |
| Remuneration and social security | 454/9 | €1,950 | €2,290 | +€340 | +17.4% |
| Other amounts payable | 47/48 | €596 | €3,597 | +€3,001 | +504% |
| Accrued charges and deferred income | 492/3 | €105 | €0 | -€105 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €407 | €407 | = | 0.0% |
| Other operating charges | 640/8 | €1,096 | €2,246 | +€1,150 | +105% |
| Gross operating margin | 9900 | €62,915 | €3,493 | -€59,423 | -94.4% |
| Operating profit (loss) | 9901 | €61,412 | €839 | -€60,573 | -98.6% |
| Financial income | 75/76B | €5 | €1 | -€4 | -73.4% |
| Recurring financial income | 75 | €5 | €1 | -€4 | -73.4% |
| Financial charges | 65/66B | €16,371 | €4,846 | -€11,525 | -70.4% |
| Recurring financial charges | 65 | €16,371 | €4,846 | -€11,525 | -70.4% |
| Profit (loss) for the period before taxes | 9903 | €45,047 | -€4,005 | -€49,051 | |
| Income taxes | 67/77 | €11,964 | €343 | -€11,622 | -97.1% |
| Profit (loss) for the period | 9904 | €33,082 | -€4,348 | -€37,430 | |
| Profit (loss) for the period to be appropriated | 9905 | €33,082 | -€4,348 | -€37,430 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.