VANCO: 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.
VANCO
Largest movements
- Receivables within one year -€29,104
down €29,104 (-65.7%), from €44,278 to €15,174
of which Other amounts receivable: -€16,271
- Cash +€23,220
up €23,220 (+402.2%), from €5,774 to €28,994
mainly Receivables within one year (+€29,104) and Investment in fixed assets (net) (+€3,019)
- Tangible fixed assets -€3,019
no longer reported in 2025 (was €3,019)
of which Plant, machinery and equipment: -€2,665
- Accrued charges and deferred income -€5,015
no longer reported in 2025 (was €5,015)
- Trade debts -€4,306
no longer reported in 2025 (was €4,306)
- Profit (loss) carried forward +€622
up €622 (+2.3%), from €27,490 to €28,112
- Turnover -€62,379
down €62,379 (-42.0%), from €148,671 to €86,292
- Purchases and services -€52,447
down €52,447 (-33.7%), from €155,721 to €103,274
- Gross operating margin +€9,229
up €9,229, from -€3,537 to €5,692
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 | €53,071 | €44,167 | -€8,904 | -16.8% |
| Fixed assets | 21/28 | €3,019 | - | -€3,019 | |
| Tangible fixed assets | 22/27 | €3,019 | - | -€3,019 | |
| Plant, machinery and equipment | 23 | €2,665 | - | -€2,665 | |
| Furniture and vehicles | 24 | €354 | - | -€354 | |
| Current assets | 29/58 | €50,052 | €44,167 | -€5,885 | -11.8% |
| Amounts receivable within one year | 40/41 | €44,278 | €15,174 | -€29,104 | -65.7% |
| Trade receivables | 40 | €12,834 | - | -€12,834 | |
| Other amounts receivable | 41 | €31,444 | €15,174 | -€16,271 | -51.7% |
| Cash at bank and in hand | 54/58 | €5,774 | €28,994 | +€23,220 | +402.2% |
| Total equity and liabilities | 10/49 | €53,071 | €44,167 | -€8,904 | -16.8% |
| Equity | 10/15 | €43,545 | €44,167 | +€622 | +1.4% |
| Contributions | 10/11 | €14,200 | €14,200 | = | 0.0% |
| Reserves | 13 | €1,855 | €1,855 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Other | 1319 | €1,855 | €1,855 | = | 0.0% |
| Profit (loss) carried forward | 14 | €27,490 | €28,112 | +€622 | +2.3% |
| Amounts payable | 17/49 | €9,526 | - | -€9,526 | |
| Amounts payable within one year | 42/48 | €4,511 | - | -€4,511 | |
| Trade debts | 44 | €4,306 | - | -€4,306 | |
| Suppliers | 440/4 | €4,306 | - | -€4,306 | |
| Taxes, remuneration and social security | 45 | €205 | - | -€205 | |
| Taxes | 450/3 | €205 | - | -€205 | |
| Accrued charges and deferred income | 492/3 | €5,015 | - | -€5,015 | |
| Turnover | 70 | €148,671 | €86,292 | -€62,379 | -42.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €155,721 | €103,274 | -€52,447 | -33.7% |
| Remuneration, social security and pensions | 62 | €351 | - | -€351 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €243 | - | -€243 | |
| Other operating charges | 640/8 | €3,941 | €4,122 | +€181 | +4.6% |
| Gross operating margin | 9900 | -€3,537 | €5,692 | +€9,229 | |
| Operating profit (loss) | 9901 | -€8,073 | €1,570 | +€9,643 | |
| Financial income | 75/76B | €13 | €11 | -€2 | -13.7% |
| Recurring financial income | 75 | €13 | €11 | -€2 | -13.7% |
| Financial charges | 65/66B | €1,882 | €959 | -€923 | -49.0% |
| Recurring financial charges | 65 | €1,882 | €959 | -€923 | -49.0% |
| Profit (loss) for the period before taxes | 9903 | -€9,942 | €622 | +€10,564 | |
| Profit (loss) for the period | 9904 | -€9,942 | €622 | +€10,564 | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,942 | €622 | +€10,564 |
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 28 September 2026 via checked.be.