VANCOMAR: 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.
VANCOMAR
Largest movements
- Cash +€147,199
up €147,199 (+9.4%), from €1.6m to €1.7m
mainly Net result for the year (+€380,028) and Depreciation (+€24,567)
- Tangible fixed assets +€44,289
up €44,289 (+210.1%), from €21,084 to €65,373
of which Furniture and vehicles: +€41,853
- Reserves +€205,068
up €205,068 (+13.1%), from €1.6m to €1.8m
- Gross operating margin -€150,726
down €150,726 (-22.2%), from €679,244 to €528,518
- Taxes -€41,674
down €41,674 (-19.3%), from €216,418 to €174,744
- Financial income +€29,691
up €29,691 (+157.4%), from €18,861 to €48,552
- Depreciation +€11,680
up €11,680 (+90.6%), from €12,887 to €24,567
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 | €1,941,975 | €2,141,269 | +€199,294 | +10.3% |
| Fixed assets | 21/28 | €21,084 | €65,373 | +€44,289 | +210.1% |
| Tangible fixed assets | 22/27 | €21,084 | €65,373 | +€44,289 | +210.1% |
| Plant, machinery and equipment | 23 | - | €2,436 | +€2,436 | |
| Furniture and vehicles | 24 | €21,084 | €62,937 | +€41,853 | +198.5% |
| Current assets | 29/58 | €1,920,891 | €2,075,897 | +€155,006 | +8.1% |
| Amounts receivable within one year | 40/41 | €150,714 | €154,999 | +€4,285 | +2.8% |
| Trade receivables | 40 | €150,714 | €150,156 | -€558 | -0.4% |
| Other amounts receivable | 41 | - | €4,843 | +€4,843 | |
| Current investments | 50/53 | €188,598 | €183,663 | -€4,935 | -2.6% |
| Cash at bank and in hand | 54/58 | €1,567,529 | €1,714,727 | +€147,199 | +9.4% |
| Deferred charges and accrued income | 490/1 | €14,050 | €22,507 | +€8,457 | +60.2% |
| Total equity and liabilities | 10/49 | €1,941,975 | €2,141,269 | +€199,294 | +10.3% |
| Equity | 10/15 | €1,665,035 | €1,870,103 | +€205,068 | +12.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €1,561,613 | €1,766,680 | +€205,068 | +13.1% |
| Distributable reserves | 133 | €1,561,613 | €1,766,680 | +€205,068 | +13.1% |
| Profit (loss) carried forward | 14 | €83,423 | €83,423 | = | 0.0% |
| Provisions and deferred taxes | 16 | €38,598 | €33,663 | -€4,935 | -12.8% |
| Provisions for liabilities and charges | 160/5 | €38,598 | €33,663 | -€4,935 | -12.8% |
| Environmental obligations | 163 | €38,598 | €33,663 | -€4,935 | -12.8% |
| Amounts payable | 17/49 | €238,342 | €237,504 | -€838 | -0.4% |
| Amounts payable within one year | 42/48 | €87,842 | €87,004 | -€838 | -1.0% |
| Trade debts | 44 | €635 | €0 | -€635 | -100.0% |
| Suppliers | 440/4 | €635 | €0 | -€635 | -100.0% |
| Taxes, remuneration and social security | 45 | €85,285 | €87,004 | +€1,719 | +2.0% |
| Taxes | 450/3 | €83,285 | €85,004 | +€1,719 | +2.1% |
| Remuneration and social security | 454/9 | €2,000 | €2,000 | = | 0.0% |
| Other amounts payable | 47/48 | €1,922 | €0 | -€1,922 | -100.0% |
| Accrued charges and deferred income | 492/3 | €150,500 | €150,500 | = | 0.0% |
| Non-recurring operating income | 76A | - | €9,050 | +€9,050 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,887 | €24,567 | +€11,680 | +90.6% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€1,292 | -€4,935 | -€3,644 | -282.1% |
| Other operating charges | 640/8 | €1,365 | €257 | -€1,108 | -81.2% |
| Gross operating margin | 9900 | €679,244 | €528,518 | -€150,726 | -22.2% |
| Operating profit (loss) | 9901 | €666,283 | €508,629 | -€157,654 | -23.7% |
| Financial income | 75/76B | €18,861 | €48,552 | +€29,691 | +157.4% |
| Recurring financial income | 75 | €18,861 | €48,552 | +€29,691 | +157.4% |
| Financial charges | 65/66B | €1,698 | €2,409 | +€712 | +41.9% |
| Recurring financial charges | 65 | €1,698 | €2,409 | +€712 | +41.9% |
| Profit (loss) for the period before taxes | 9903 | €683,447 | €554,772 | -€128,675 | -18.8% |
| Income taxes | 67/77 | €216,418 | €174,744 | -€41,674 | -19.3% |
| Profit (loss) for the period | 9904 | €467,029 | €380,028 | -€87,001 | -18.6% |
| Profit (loss) for the period to be appropriated | 9905 | €467,029 | €380,028 | -€87,001 | -18.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 December 2024 and 30 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.