VANCOU: 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.
VANCOU
Largest movements
- Receivables within one year +€10,362
up €10,362 (+67.4%), from €15,369 to €25,730
of which Trade receivables: +€9,841
- Cash -€6,489
down €6,489 (-28.4%), from €22,842 to €16,353
mainly Receivables within one year (-€10,362) and Debts after one year (-€8,706)
- Tangible fixed assets -€5,100
down €5,100 (-11.8%), from €43,202 to €38,102
of which Furniture and vehicles: -€5,813
- Debts after one year -€8,706
down €8,706 (-28.6%), from €30,430 to €21,724
- Trade debts +€7,242
up €7,242 (+195.5%), from €3,704 to €10,945
- Other debts -€4,097
down €4,097 (-55.3%), from €7,411 to €3,314
- Profit (loss) carried forward +€3,693
up €3,693 (+27.7%), from €13,312 to €17,004
- Advances received +€1,450
new in 2025: €1,450
- Gross operating margin +€12,239
up €12,239 (+170.4%), from €7,183 to €19,422
- Taxes +€1,514
up €1,514 (+303.0%), from €500 to €2,014
- Financial charges -€302
down €302 (-13.9%), from €2,164 to €1,863
- Purchases and services -€295
down €295 (-0.4%), from €79,713 to €79,418
- Financial income +€267
new in 2025: €267
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 | €81,672 | €80,561 | -€1,111 | -1.4% |
| Fixed assets | 21/28 | €43,202 | €38,102 | -€5,100 | -11.8% |
| Tangible fixed assets | 22/27 | €43,202 | €38,102 | -€5,100 | -11.8% |
| Plant, machinery and equipment | 23 | €22,427 | €23,140 | +€713 | +3.2% |
| Furniture and vehicles | 24 | €20,775 | €14,962 | -€5,813 | -28.0% |
| Current assets | 29/58 | €38,470 | €42,459 | +€3,990 | +10.4% |
| Amounts receivable within one year | 40/41 | €15,369 | €25,730 | +€10,362 | +67.4% |
| Trade receivables | 40 | €15,369 | €25,209 | +€9,841 | +64.0% |
| Other amounts receivable | 41 | - | €521 | +€521 | |
| Cash at bank and in hand | 54/58 | €22,842 | €16,353 | -€6,489 | -28.4% |
| Deferred charges and accrued income | 490/1 | €259 | €376 | +€117 | +45.2% |
| Total equity and liabilities | 10/49 | €81,672 | €80,561 | -€1,111 | -1.4% |
| Equity | 10/15 | €25,712 | €29,404 | +€3,693 | +14.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Outside capital | 11 | €12,400 | - | -€12,400 | |
| Other | 1109/19 | €12,400 | - | -€12,400 | |
| Profit (loss) carried forward | 14 | €13,312 | €17,004 | +€3,693 | +27.7% |
| Amounts payable | 17/49 | €55,960 | €51,157 | -€4,803 | -8.6% |
| Amounts payable after more than one year | 17 | €30,430 | €21,724 | -€8,706 | -28.6% |
| Financial debts | 170/4 | €30,430 | €21,724 | -€8,706 | -28.6% |
| Amounts payable within one year | 42/48 | €25,530 | €29,432 | +€3,902 | +15.3% |
| Current portion of amounts payable after more than one year | 42 | €8,327 | €8,706 | +€378 | +4.5% |
| Financial debts | 43 | €349 | €204 | -€144 | -41.4% |
| Credit institutions | 430/8 | €349 | €204 | -€144 | -41.4% |
| Trade debts | 44 | €3,704 | €10,945 | +€7,242 | +195.5% |
| Suppliers | 440/4 | €3,704 | €10,945 | +€7,242 | +195.5% |
| Advances received on contracts in progress | 46 | - | €1,450 | +€1,450 | |
| Taxes, remuneration and social security | 45 | €5,739 | €4,812 | -€927 | -16.2% |
| Taxes | 450/3 | €5,739 | €4,812 | -€927 | -16.2% |
| Other amounts payable | 47/48 | €7,411 | €3,314 | -€4,097 | -55.3% |
| Goods, raw materials, services and sundry goods | 60/61 | €79,713 | €79,418 | -€295 | -0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,617 | €9,840 | +€224 | +2.3% |
| Other operating charges | 640/8 | €1,491 | €1,437 | -€54 | -3.6% |
| Non-recurring operating charges | 66A | €420 | €842 | +€422 | +100.4% |
| Gross operating margin | 9900 | €7,183 | €19,422 | +€12,239 | +170.4% |
| Operating profit (loss) | 9901 | -€4,345 | €7,302 | +€11,647 | |
| Financial income | 75/76B | - | €267 | +€267 | |
| Recurring financial income | 75 | - | €267 | +€267 | |
| Financial charges | 65/66B | €2,164 | €1,863 | -€302 | -13.9% |
| Recurring financial charges | 65 | €2,164 | €1,863 | -€302 | -13.9% |
| Profit (loss) for the period before taxes | 9903 | -€6,509 | €5,707 | +€12,215 | |
| Income taxes | 67/77 | €500 | €2,014 | +€1,514 | +303.0% |
| Profit (loss) for the period | 9904 | -€7,008 | €3,693 | +€10,701 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,008 | €3,693 | +€10,701 |
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 3 October 2026 via checked.be.