VANCK: 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.
VANCK
Largest movements
- Stocks and contracts -€151,538
down €151,538 (-32.9%), from €460,144 to €308,606
- Cash +€145,692
up €145,692 (+243.6%), from €59,815 to €205,507
mainly Stocks and contracts (+€151,538) and Trade debts (+€132,673)
- Receivables within one year +€120,450
up €120,450 (+58.1%), from €207,182 to €327,633
of which Trade receivables: +€120,521
- Tangible fixed assets -€13,420
down €13,420 (-33.2%), from €40,435 to €27,015
of which Furniture and vehicles: -€8,760
- Trade debts +€132,673
up €132,673 (+83.9%), from €158,191 to €290,864
- Short-term financial debts -€100,000
down €100,000 (-100.0%), from €100,000 to €0
- Tax, wage and social debts +€41,608
up €41,608 (+337.1%), from €12,344 to €53,952
of which Taxes: +€44,250
- Reserves +€28,000
up €28,000 (+10.8%), from €258,471 to €286,471
- Debts after one year -€8,751
down €8,751 (-40.3%), from €21,735 to €12,983
- Staff costs -€41,055
down €41,055 (-99.7%), from €41,171 to €116
- Gross operating margin -€26,621
down €26,621 (-30.6%), from €86,984 to €60,363
- Taxes +€6,890
up €6,890 (+182.3%), from €3,780 to €10,670
- Financial charges -€4,121
down €4,121 (-37.5%), from €10,978 to €6,857
- Write-downs -€3,805
no longer reported in 2025 (was €3,805)
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 | €771,207 | €872,038 | +€100,832 | +13.1% |
| Fixed assets | 21/28 | €40,435 | €27,015 | -€13,420 | -33.2% |
| Tangible fixed assets | 22/27 | €40,435 | €27,015 | -€13,420 | -33.2% |
| Land and buildings | 22 | €0 | €0 | = | |
| Plant, machinery and equipment | 23 | €14,611 | €9,951 | -€4,660 | -31.9% |
| Furniture and vehicles | 24 | €25,824 | €17,064 | -€8,760 | -33.9% |
| Current assets | 29/58 | €730,771 | €845,023 | +€114,251 | +15.6% |
| Stocks and contracts in progress | 3 | €460,144 | €308,606 | -€151,538 | -32.9% |
| Stocks | 30/36 | €460,144 | €308,606 | -€151,538 | -32.9% |
| Amounts receivable within one year | 40/41 | €207,182 | €327,633 | +€120,450 | +58.1% |
| Trade receivables | 40 | €207,112 | €327,633 | +€120,521 | +58.2% |
| Other amounts receivable | 41 | €71 | €0 | -€71 | -100.0% |
| Cash at bank and in hand | 54/58 | €59,815 | €205,507 | +€145,692 | +243.6% |
| Deferred charges and accrued income | 490/1 | €3,630 | €3,277 | -€352 | -9.7% |
| Total equity and liabilities | 10/49 | €771,207 | €872,038 | +€100,832 | +13.1% |
| Equity | 10/15 | €327,591 | €355,553 | +€27,962 | +8.5% |
| Contributions | 10/11 | €68,592 | €68,592 | = | 0.0% |
| Reserves | 13 | €258,471 | €286,471 | +€28,000 | +10.8% |
| Distributable reserves | 133 | €258,471 | €286,471 | +€28,000 | +10.8% |
| Profit (loss) carried forward | 14 | €528 | €490 | -€38 | -7.2% |
| Amounts payable | 17/49 | €443,616 | €516,486 | +€72,870 | +16.4% |
| Amounts payable after more than one year | 17 | €21,735 | €12,983 | -€8,751 | -40.3% |
| Financial debts | 170/4 | €21,735 | €12,983 | -€8,751 | -40.3% |
| Amounts payable within one year | 42/48 | €421,839 | €503,502 | +€81,663 | +19.4% |
| Current portion of amounts payable after more than one year | 42 | €8,489 | €8,751 | +€262 | +3.1% |
| Financial debts | 43 | €100,000 | €0 | -€100,000 | -100.0% |
| Other loans | 439 | €100,000 | €0 | -€100,000 | -100.0% |
| Trade debts | 44 | €158,191 | €290,864 | +€132,673 | +83.9% |
| Suppliers | 440/4 | €158,191 | €290,864 | +€132,673 | +83.9% |
| Taxes, remuneration and social security | 45 | €12,344 | €53,952 | +€41,608 | +337.1% |
| Taxes | 450/3 | €9,702 | €53,952 | +€44,250 | +456.1% |
| Remuneration and social security | 454/9 | €2,642 | €0 | -€2,642 | -100.0% |
| Other amounts payable | 47/48 | €142,815 | €149,935 | +€7,120 | +5.0% |
| Accrued charges and deferred income | 492/3 | €42 | €0 | -€42 | -100.0% |
| Remuneration, social security and pensions | 62 | €41,171 | €116 | -€41,055 | -99.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,420 | €13,420 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,805 | - | -€3,805 | |
| Other operating charges | 640/8 | €1,982 | €1,338 | -€645 | -32.5% |
| Gross operating margin | 9900 | €86,984 | €60,363 | -€26,621 | -30.6% |
| Operating profit (loss) | 9901 | €26,606 | €45,490 | +€18,884 | +71.0% |
| Financial income | 75/76B | €14 | - | -€14 | |
| Recurring financial income | 75 | €14 | - | -€14 | |
| Financial charges | 65/66B | €10,978 | €6,857 | -€4,121 | -37.5% |
| Recurring financial charges | 65 | €10,978 | €6,857 | -€4,121 | -37.5% |
| Profit (loss) for the period before taxes | 9903 | €15,642 | €38,632 | +€22,991 | +147.0% |
| Income taxes | 67/77 | €3,780 | €10,670 | +€6,890 | +182.3% |
| Profit (loss) for the period | 9904 | €11,862 | €27,962 | +€16,100 | +135.7% |
| Profit (loss) for the period to be appropriated | 9905 | €11,862 | €27,962 | +€16,100 | +135.7% |
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 8 October 2026 via checked.be.