VANCOPLAS: 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.
VANCOPLAS
Largest movements
- Tangible fixed assets -€19,761
down €19,761 (-26.2%), from €75,503 to €55,742
of which Furniture and vehicles: -€11,933
- Receivables within one year +€15,120
up €15,120 (+744%), from €2,032 to €17,152
of which Other amounts receivable: +€9,901
- Cash -€6,283
down €6,283 (-7.4%), from €85,067 to €78,785
mainly Contributions, distributions and other (-€141,161) and Receivables within one year (-€15,120)
- Stocks and contracts +€3,480
up €3,480 (+50.0%), from €6,957 to €10,438
- Other debts +€118,639
up €118,639 (+11,725%), from €1,012 to €119,651
- Reserves -€113,874
down €113,874 (-80.7%), from €141,161 to €27,287
- Trade debts -€10,364
down €10,364 (-58.8%), from €17,636 to €7,272
- Gross operating margin +€47,868
up €47,868 (+30.1%), from €158,773 to €206,641
- Staff costs +€26,639
up €26,639 (+23.6%), from €112,981 to €139,620
- Depreciation +€5,154
up €5,154 (+29.8%), from €17,305 to €22,459
- Taxes +€4,138
up €4,138 (+68.5%), from €6,046 to €10,184
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 | €177,426 | €171,282 | -€6,144 | -3.5% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €80,832 | €60,884 | -€19,948 | -24.7% |
| Intangible fixed assets | 21 | €229 | €43 | -€186 | -81.4% |
| Tangible fixed assets | 22/27 | €75,503 | €55,742 | -€19,761 | -26.2% |
| Plant, machinery and equipment | 23 | €23,337 | €15,545 | -€7,791 | -33.4% |
| Furniture and vehicles | 24 | €47,123 | €35,189 | -€11,933 | -25.3% |
| Other tangible fixed assets | 26 | €5,043 | €5,007 | -€37 | -0.7% |
| Financial fixed assets | 28 | €5,100 | €5,100 | = | 0.0% |
| Current assets | 29/58 | €96,594 | €110,398 | +€13,804 | +14.3% |
| Stocks and contracts in progress | 3 | €6,957 | €10,438 | +€3,480 | +50.0% |
| Stocks | 30/36 | €6,957 | €10,438 | +€3,480 | +50.0% |
| Amounts receivable within one year | 40/41 | €2,032 | €17,152 | +€15,120 | +744% |
| Trade receivables | 40 | - | €5,219 | +€5,219 | |
| Other amounts receivable | 41 | €2,032 | €11,933 | +€9,901 | +487% |
| Cash at bank and in hand | 54/58 | €85,067 | €78,785 | -€6,283 | -7.4% |
| Deferred charges and accrued income | 490/1 | €2,537 | €4,023 | +€1,486 | +58.6% |
| Total equity and liabilities | 10/49 | €177,426 | €171,282 | -€6,144 | -3.5% |
| Equity | 10/15 | €144,161 | €30,287 | -€113,874 | -79.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €141,161 | €27,287 | -€113,874 | -80.7% |
| Distributable reserves | 133 | €141,161 | €27,287 | -€113,874 | -80.7% |
| Amounts payable | 17/49 | €33,265 | €140,995 | +€107,731 | +324% |
| Amounts payable within one year | 42/48 | €33,265 | €140,995 | +€107,731 | +324% |
| Trade debts | 44 | €17,636 | €7,272 | -€10,364 | -58.8% |
| Suppliers | 440/4 | €17,636 | €7,272 | -€10,364 | -58.8% |
| Taxes, remuneration and social security | 45 | €14,617 | €14,072 | -€545 | -3.7% |
| Taxes | 450/3 | €11,828 | €6,301 | -€5,527 | -46.7% |
| Remuneration and social security | 454/9 | €2,789 | €7,771 | +€4,983 | +179% |
| Other amounts payable | 47/48 | €1,012 | €119,651 | +€118,639 | +11,725% |
| Remuneration, social security and pensions | 62 | €112,981 | €139,620 | +€26,639 | +23.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,305 | €22,459 | +€5,154 | +29.8% |
| Other operating charges | 640/8 | €4,430 | €3,320 | -€1,109 | -25.0% |
| Gross operating margin | 9900 | €158,773 | €206,641 | +€47,868 | +30.1% |
| Operating profit (loss) | 9901 | €24,057 | €41,242 | +€17,185 | +71.4% |
| Financial income | 75/76B | €32 | €71 | +€39 | +119% |
| Recurring financial income | 75 | €32 | €71 | +€39 | +119% |
| Financial charges | 65/66B | €3,815 | €3,842 | +€28 | +0.7% |
| Recurring financial charges | 65 | €3,815 | €3,842 | +€28 | +0.7% |
| Profit (loss) for the period before taxes | 9903 | €20,275 | €37,471 | +€17,196 | +84.8% |
| Income taxes | 67/77 | €6,046 | €10,184 | +€4,138 | +68.5% |
| Profit (loss) for the period | 9904 | €14,229 | €27,287 | +€13,057 | +91.8% |
| Profit (loss) for the period to be appropriated | 9905 | €14,229 | €27,287 | +€13,057 | +91.8% |
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 15 October 2026 via checked.be.