VANCO CONSTRUCT: 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.
VANCO CONSTRUCT
Largest movements
- Receivables within one year -€81,806
down €81,806 (-25.8%), from €316,990 to €235,184
of which Other amounts receivable: -€98,225
- Other debts -€157,217
down €157,217 (-77.5%), from €202,889 to €45,672
- Reserves +€75,550
up €75,550 (+18.9%), from €399,249 to €474,800
- Debts after one year -€44,087
down €44,087 (-47.6%), from €92,600 to €48,513
- Tax, wage and social debts +€24,886
up €24,886 (+240%), from €10,356 to €35,242
- Current portion of long-term debt +€14,886
up €14,886 (+25.5%), from €58,431 to €73,317
- Financial income -€243,456
down €243,456 (-95.7%), from €254,417 to €10,961
- Taxes +€42,353
up €42,353 (+180%), from €23,482 to €65,835
- Gross operating margin +€29,567
up €29,567 (+27.8%), from €106,495 to €136,062
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 | €1,067,524 | €984,783 | -€82,742 | -7.8% |
| Fixed assets | 21/28 | €692,500 | €691,484 | -€1,016 | -0.1% |
| Tangible fixed assets | 22/27 | €4,500 | €3,484 | -€1,016 | -22.6% |
| Furniture and vehicles | 24 | €4,500 | €3,484 | -€1,016 | -22.6% |
| Financial fixed assets | 28 | €688,000 | €688,000 | = | 0.0% |
| Current assets | 29/58 | €375,024 | €293,299 | -€81,726 | -21.8% |
| Amounts receivable within one year | 40/41 | €316,990 | €235,184 | -€81,806 | -25.8% |
| Trade receivables | 40 | - | €16,419 | +€16,419 | |
| Other amounts receivable | 41 | €316,990 | €218,765 | -€98,225 | -31.0% |
| Cash at bank and in hand | 54/58 | €56,464 | €56,523 | +€59 | +0.1% |
| Deferred charges and accrued income | 490/1 | €1,571 | €1,592 | +€22 | +1.4% |
| Total equity and liabilities | 10/49 | €1,067,524 | €984,783 | -€82,742 | -7.8% |
| Equity | 10/15 | €687,349 | €762,900 | +€75,550 | +11.0% |
| Contributions | 10/11 | €288,100 | €288,100 | = | 0.0% |
| Reserves | 13 | €399,249 | €474,800 | +€75,550 | +18.9% |
| Distributable reserves | 133 | €399,249 | €474,800 | +€75,550 | +18.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €380,175 | €221,883 | -€158,292 | -41.6% |
| Amounts payable after more than one year | 17 | €92,600 | €48,513 | -€44,087 | -47.6% |
| Financial debts | 170/4 | €92,600 | €48,513 | -€44,087 | -47.6% |
| Amounts payable within one year | 42/48 | €285,789 | €171,583 | -€114,205 | -40.0% |
| Current portion of amounts payable after more than one year | 42 | €58,431 | €73,317 | +€14,886 | +25.5% |
| Trade debts | 44 | €14,114 | €17,354 | +€3,240 | +23.0% |
| Suppliers | 440/4 | €14,114 | €17,354 | +€3,240 | +23.0% |
| Taxes, remuneration and social security | 45 | €10,356 | €35,242 | +€24,886 | +240% |
| Taxes | 450/3 | €10,356 | €35,242 | +€24,886 | +240% |
| Other amounts payable | 47/48 | €202,889 | €45,672 | -€157,217 | -77.5% |
| Accrued charges and deferred income | 492/3 | €1,787 | €1,787 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €582 | €1,016 | +€435 | +74.7% |
| Other operating charges | 640/8 | €1,558 | €1,420 | -€138 | -8.9% |
| Gross operating margin | 9900 | €106,495 | €136,062 | +€29,567 | +27.8% |
| Operating profit (loss) | 9901 | €104,355 | €133,626 | +€29,271 | +28.0% |
| Financial income | 75/76B | €254,417 | €10,961 | -€243,456 | -95.7% |
| Recurring financial income | 75 | €254,417 | €10,961 | -€243,456 | -95.7% |
| Financial charges | 65/66B | €2,869 | €2,369 | -€500 | -17.4% |
| Recurring financial charges | 65 | €2,869 | €2,369 | -€500 | -17.4% |
| Profit (loss) for the period before taxes | 9903 | €355,904 | €142,218 | -€213,686 | -60.0% |
| Income taxes | 67/77 | €23,482 | €65,835 | +€42,353 | +180% |
| Profit (loss) for the period | 9904 | €332,422 | €76,383 | -€256,039 | -77.0% |
| Profit (loss) for the period to be appropriated | 9905 | €332,422 | €76,383 | -€256,039 | -77.0% |
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 16 October 2026 via checked.be.