VANCOUVER: 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.
VANCOUVER
Largest movements
- Receivables within one year -€1.1m
down €1.1m (-41.4%), from €2.7m to €1.6m
of which Other amounts receivable: -€969,038
- Deferred charges and accrued income -€750,000
down €750,000 (-44.1%), from €1.7m to €950,000
- Stocks and contracts +€142,042
up €142,042 (+10.7%), from €1.3m to €1.5m
- Other debts -€3.4m
down €3.4m (-94.4%), from €3.6m to €204,507
- Trade debts +€1.8m
up €1.8m (+37.4%), from €4.7m to €6.5m
- Profit (loss) carried forward -€512,905
down €512,905 (-18.7%), from -€2.7m to -€3.3m
- Debts after one year +€492,440
new in 2025: €492,440
- Financial charges -€466,475
down €466,475 (-70.5%), from €662,075 to €195,600
- Financial income -€180,383
down €180,383 (-59.6%), from €302,843 to €122,460
- Gross operating margin +€79,771
up €79,771 (+27.1%), from -€294,568 to -€214,797
- Other operating charges +€36,658
up €36,658 (+19.9%), from €183,923 to €220,581
- Taxes +€4,387
new in 2025: €4,387
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 | €5,739,414 | €4,008,381 | -€1.7m | -30.2% |
| Current assets | 29/58 | €5,739,414 | €4,008,381 | -€1.7m | -30.2% |
| Stocks and contracts in progress | 3 | €1,325,100 | €1,467,142 | +€142,042 | +10.7% |
| Stocks | 30/36 | €1,325,100 | €1,467,142 | +€142,042 | +10.7% |
| Amounts receivable within one year | 40/41 | €2,708,751 | €1,587,901 | -€1.1m | -41.4% |
| Trade receivables | 40 | €1,203,259 | €1,051,447 | -€151,812 | -12.6% |
| Other amounts receivable | 41 | €1,505,492 | €536,454 | -€969,038 | -64.4% |
| Cash at bank and in hand | 54/58 | €5,563 | €3,339 | -€2,224 | -40.0% |
| Deferred charges and accrued income | 490/1 | €1,700,000 | €950,000 | -€750,000 | -44.1% |
| Total equity and liabilities | 10/49 | €5,739,414 | €4,008,381 | -€1.7m | -30.2% |
| Equity | 10/15 | -€2,674,483 | -€3,187,388 | -€512,905 | -19.2% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €6,150 | €6,150 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,742,133 | -€3,255,038 | -€512,905 | -18.7% |
| Amounts payable | 17/49 | €8,413,898 | €7,195,770 | -€1.2m | -14.5% |
| Amounts payable after more than one year | 17 | - | €492,440 | +€492,440 | |
| Financial debts | 170/4 | - | €492,440 | +€492,440 | |
| Amounts payable within one year | 42/48 | €8,413,898 | €6,703,330 | -€1.7m | -20.3% |
| Financial debts | 43 | €50,860 | €0 | -€50,860 | -100% |
| Credit institutions | 430/8 | €50,860 | €0 | -€50,860 | -100% |
| Trade debts | 44 | €4,731,078 | €6,498,823 | +€1.8m | +37.4% |
| Suppliers | 440/4 | €4,731,078 | €6,498,823 | +€1.8m | +37.4% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €3,631,960 | €204,507 | -€3.4m | -94.4% |
| Other operating charges | 640/8 | €183,923 | €220,581 | +€36,658 | +19.9% |
| Gross operating margin | 9900 | -€294,568 | -€214,797 | +€79,771 | +27.1% |
| Operating profit (loss) | 9901 | -€478,491 | -€435,378 | +€43,113 | +9.0% |
| Financial income | 75/76B | €302,843 | €122,460 | -€180,383 | -59.6% |
| Recurring financial income | 75 | €302,843 | €122,460 | -€180,383 | -59.6% |
| Financial charges | 65/66B | €662,075 | €195,600 | -€466,475 | -70.5% |
| Recurring financial charges | 65 | €662,075 | €195,600 | -€466,475 | -70.5% |
| Profit (loss) for the period before taxes | 9903 | -€837,723 | -€508,518 | +€329,205 | +39.3% |
| Income taxes | 67/77 | - | €4,387 | +€4,387 | |
| Profit (loss) for the period | 9904 | -€837,723 | -€512,905 | +€324,818 | +38.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€837,723 | -€512,905 | +€324,818 | +38.8% |
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 20 October 2026 via checked.be.