VanCLoVer: 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.
VanCLoVer
Largest movements
- Tangible fixed assets +€685,376
up €685,376 (+113.8%), from €602,117 to €1.3m
of which Land and buildings: +€1.1m
- Stocks and contracts -€628,661
down €628,661 (-100.0%), from €628,661 to €0
of which Stocks: -€568,661
- Cash +€32,048
up €32,048 (+40.1%), from €79,959 to €112,007
mainly Stocks and contracts (+€628,661) and Debts after one year (+€80,000)
- Receivables within one year -€17,804
down €17,804 (-89.0%), from €20,000 to €2,196
- Debts after one year +€80,000
up €80,000 (+9.2%), from €870,000 to €950,000
- Trade debts -€15,762
down €15,762 (-77.4%), from €20,367 to €4,605
- Financial income +€14,917
new in 2025: €14,917
- Depreciation +€10,999
new in 2025: €10,999
- Gross operating margin -€1,422
down €1,422 (-3.1%), from €45,459 to €44,037
- Financial charges +€1,021
up €1,021 (+2.5%), from €41,137 to €42,158
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 | €1,337,843 | €1,406,936 | +€69,093 | +5.2% |
| Fixed assets | 21/28 | €602,117 | €1,287,494 | +€685,376 | +113.8% |
| Tangible fixed assets | 22/27 | €602,117 | €1,287,494 | +€685,376 | +113.8% |
| Land and buildings | 22 | €175,511 | €1,287,494 | +€1.1m | +633.6% |
| Assets under construction and advance payments | 27 | €426,606 | €0 | -€426,606 | -100.0% |
| Current assets | 29/58 | €735,726 | €119,442 | -€616,284 | -83.8% |
| Stocks and contracts in progress | 3 | €628,661 | €0 | -€628,661 | -100.0% |
| Stocks | 30/36 | €568,661 | €0 | -€568,661 | -100.0% |
| Contracts in progress | 37 | €60,000 | €0 | -€60,000 | -100.0% |
| Amounts receivable within one year | 40/41 | €20,000 | €2,196 | -€17,804 | -89.0% |
| Trade receivables | 40 | €20,000 | €2,196 | -€17,804 | -89.0% |
| Cash at bank and in hand | 54/58 | €79,959 | €112,007 | +€32,048 | +40.1% |
| Deferred charges and accrued income | 490/1 | €7,106 | €5,240 | -€1,866 | -26.3% |
| Total equity and liabilities | 10/49 | €1,337,843 | €1,406,936 | +€69,093 | +5.2% |
| Equity | 10/15 | €6,278 | €9,050 | +€2,772 | +44.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,278 | €4,050 | +€2,772 | +216.9% |
| Amounts payable | 17/49 | €1,331,565 | €1,397,885 | +€66,321 | +5.0% |
| Amounts payable after more than one year | 17 | €870,000 | €950,000 | +€80,000 | +9.2% |
| Financial debts | 170/4 | €870,000 | €950,000 | +€80,000 | +9.2% |
| Amounts payable within one year | 42/48 | €461,565 | €447,885 | -€13,679 | -3.0% |
| Trade debts | 44 | €20,367 | €4,605 | -€15,762 | -77.4% |
| Suppliers | 440/4 | €20,367 | €4,605 | -€15,762 | -77.4% |
| Taxes, remuneration and social security | 45 | €4,071 | €6,153 | +€2,082 | +51.1% |
| Taxes | 450/3 | €4,071 | €6,153 | +€2,082 | +51.1% |
| Other amounts payable | 47/48 | €437,127 | €437,127 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €10,999 | +€10,999 | |
| Other operating charges | 640/8 | €2,724 | €2,297 | -€427 | -15.7% |
| Gross operating margin | 9900 | €45,459 | €44,037 | -€1,422 | -3.1% |
| Operating profit (loss) | 9901 | €42,735 | €30,741 | -€11,993 | -28.1% |
| Financial income | 75/76B | - | €14,917 | +€14,917 | |
| Recurring financial income | 75 | - | €14,917 | +€14,917 | |
| Financial charges | 65/66B | €41,137 | €42,158 | +€1,021 | +2.5% |
| Recurring financial charges | 65 | €41,137 | €42,158 | +€1,021 | +2.5% |
| Profit (loss) for the period before taxes | 9903 | €1,598 | €3,500 | +€1,903 | +119.1% |
| Income taxes | 67/77 | €320 | €728 | +€409 | +127.9% |
| Profit (loss) for the period | 9904 | €1,278 | €2,772 | +€1,494 | +116.9% |
| Profit (loss) for the period to be appropriated | 9905 | €1,278 | €2,772 | +€1,494 | +116.9% |
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.