Vancorp: what changed
Vancorp
Largest movements
- Receivables after one year -€380,000
no longer reported in 2025 (was €380,000)
- Tangible fixed assets +€311,680
up €311,680 (+24.6%), from €1.3m to €1.6m
of which Land and buildings: +€290,987
- Cash -€66,191
down €66,191 (-27.0%), from €245,328 to €179,136
mainly Contributions, distributions and other (-€765,073) and Investment in fixed assets (net) (-€404,475)
- Receivables within one year -€24,169
down €24,169 (-11.7%), from €206,941 to €182,772
of which Other amounts receivable: -€159,277
- Profit (loss) carried forward -€456,924
down €456,924 (-37.4%), from €1.2m to €765,113
- Debts after one year +€201,477
up €201,477 (+35.6%), from €565,911 to €767,388
of which Financial debts: +€201,077
- Other debts +€55,071
up €55,071 (+26.5%), from €207,656 to €262,727
- Short-term financial debts +€42,543
up €42,543 (+113%), from €37,760 to €80,302
- Gross operating margin +€288,454
up €288,454 (+103%), from €281,404 to €569,858
- Taxes +€53,467
up €53,467 (+111%), from €48,057 to €101,524
- Other operating charges +€42,128
up €42,128 (+761%), from €5,538 to €47,666
- Depreciation +€24,237
up €24,237 (+35.4%), from €68,508 to €92,745
- Financial charges +€8,594
up €8,594 (+51.5%), from €16,693 to €25,286
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,120,800 | €1,953,723 | -€167,077 | -7.9% |
| Fixed assets | 21/28 | €1,273,801 | €1,585,531 | +€311,730 | +24.5% |
| Tangible fixed assets | 22/27 | €1,269,271 | €1,580,951 | +€311,680 | +24.6% |
| Land and buildings | 22 | €1,104,283 | €1,395,270 | +€290,987 | +26.4% |
| Plant, machinery and equipment | 23 | - | €1,096 | +€1,096 | |
| Furniture and vehicles | 24 | €145,501 | €165,098 | +€19,597 | +13.5% |
| Other tangible fixed assets | 26 | €19,487 | €19,487 | = | 0.0% |
| Financial fixed assets | 28 | €4,530 | €4,580 | +€50 | +1.1% |
| Current assets | 29/58 | €846,999 | €368,192 | -€478,807 | -56.5% |
| Amounts receivable after more than one year | 29 | €380,000 | - | -€380,000 | |
| Other amounts receivable | 291 | €380,000 | - | -€380,000 | |
| Amounts receivable within one year | 40/41 | €206,941 | €182,772 | -€24,169 | -11.7% |
| Trade receivables | 40 | €38,506 | €173,614 | +€135,108 | +351% |
| Other amounts receivable | 41 | €168,435 | €9,158 | -€159,277 | -94.6% |
| Current investments | 50/53 | €4,300 | €4,227 | -€73 | -1.7% |
| Cash at bank and in hand | 54/58 | €245,328 | €179,136 | -€66,191 | -27.0% |
| Deferred charges and accrued income | 490/1 | €10,430 | €2,056 | -€8,374 | -80.3% |
| Total equity and liabilities | 10/49 | €2,120,800 | €1,953,723 | -€167,077 | -7.9% |
| Equity | 10/15 | €1,241,035 | €784,038 | -€456,997 | -36.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Revaluation surpluses | 12 | €399 | €326 | -€73 | -18.3% |
| Profit (loss) carried forward | 14 | €1,222,036 | €765,113 | -€456,924 | -37.4% |
| Amounts payable | 17/49 | €879,765 | €1,169,685 | +€289,920 | +33.0% |
| Amounts payable after more than one year | 17 | €565,911 | €767,388 | +€201,477 | +35.6% |
| Financial debts | 170/4 | €565,911 | €766,988 | +€201,077 | +35.5% |
| Other amounts payable | 178/9 | - | €400 | +€400 | |
| Amounts payable within one year | 42/48 | €313,854 | €402,296 | +€88,442 | +28.2% |
| Current portion of amounts payable after more than one year | 42 | €53,274 | €53,474 | +€200 | +0.4% |
| Financial debts | 43 | €37,760 | €80,302 | +€42,543 | +113% |
| Credit institutions | 430/8 | €37,760 | €80,302 | +€42,543 | +113% |
| Trade debts | 44 | €14,165 | €3,793 | -€10,372 | -73.2% |
| Suppliers | 440/4 | €14,165 | €3,793 | -€10,372 | -73.2% |
| Taxes, remuneration and social security | 45 | €1,000 | €2,000 | +€1,000 | +100% |
| Taxes | 450/3 | €1,000 | €2,000 | +€1,000 | +100% |
| Other amounts payable | 47/48 | €207,656 | €262,727 | +€55,071 | +26.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €68,508 | €92,745 | +€24,237 | +35.4% |
| Other operating charges | 640/8 | €5,538 | €47,666 | +€42,128 | +761% |
| Gross operating margin | 9900 | €281,404 | €569,858 | +€288,454 | +103% |
| Operating profit (loss) | 9901 | €207,358 | €429,446 | +€222,088 | +107% |
| Financial income | 75/76B | €10,703 | €5,440 | -€5,263 | -49.2% |
| Recurring financial income | 75 | €10,240 | €5,440 | -€4,799 | -46.9% |
| Non-recurring financial income | 76B | €464 | - | -€464 | |
| Financial charges | 65/66B | €16,693 | €25,286 | +€8,594 | +51.5% |
| Recurring financial charges | 65 | €16,693 | €25,286 | +€8,594 | +51.5% |
| Profit (loss) for the period before taxes | 9903 | €201,369 | €409,600 | +€208,231 | +103% |
| Income taxes | 67/77 | €48,057 | €101,524 | +€53,467 | +111% |
| Profit (loss) for the period | 9904 | €153,312 | €308,076 | +€154,764 | +101% |
| Profit (loss) for the period to be appropriated | 9905 | €153,312 | €308,076 | +€154,764 | +101% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.