VANECOL: what changed
VANECOL
Largest movements
- Cash -€8,512
down €8,512 (-3.5%), from €245,439 to €236,927
mainly Investment in fixed assets (net) (-€10,760) and Receivables within one year (-€4,598)
- Receivables within one year +€4,598
up €4,598 (+34.0%), from €13,538 to €18,136
of which Trade receivables: +€5,370
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin -€37,917
down €37,917 (-76.9%), from €49,298 to €11,381
- Taxes -€9,413
down €9,413 (-100%), from €9,413 to €0
- Financial charges -€2,364
down €2,364 (-58.5%), from €4,044 to €1,680
- Other operating charges +€1,239
up €1,239 (+245%), from €505 to €1,745
- Depreciation +€614
up €614 (+8.7%), from €7,095 to €7,708
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 | €350,630 | €349,878 | -€752 | -0.2% |
| Fixed assets | 21/28 | €91,654 | €94,705 | +€3,051 | +3.3% |
| Tangible fixed assets | 22/27 | €91,654 | €94,705 | +€3,051 | +3.3% |
| Land and buildings | 22 | €87,010 | €91,862 | +€4,852 | +5.6% |
| Plant, machinery and equipment | 23 | €4,644 | €2,843 | -€1,800 | -38.8% |
| Current assets | 29/58 | €258,976 | €255,173 | -€3,803 | -1.5% |
| Amounts receivable within one year | 40/41 | €13,538 | €18,136 | +€4,598 | +34.0% |
| Trade receivables | 40 | €3,630 | €9,000 | +€5,370 | +148% |
| Other amounts receivable | 41 | €9,908 | €9,136 | -€772 | -7.8% |
| Cash at bank and in hand | 54/58 | €245,439 | €236,927 | -€8,512 | -3.5% |
| Deferred charges and accrued income | 490/1 | - | €111 | +€111 | |
| Total equity and liabilities | 10/49 | €350,630 | €349,878 | -€752 | -0.2% |
| Equity | 10/15 | €294,109 | €294,356 | +€248 | +0.1% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €275,559 | €275,806 | +€248 | +0.1% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €273,704 | €273,951 | +€248 | +0.1% |
| Amounts payable | 17/49 | €56,522 | €55,522 | -€1,000 | -1.8% |
| Amounts payable within one year | 42/48 | €52,550 | €53,951 | +€1,400 | +2.7% |
| Trade debts | 44 | €486 | €288 | -€199 | -40.8% |
| Suppliers | 440/4 | €486 | €288 | -€199 | -40.8% |
| Taxes, remuneration and social security | 45 | €1,181 | €0 | -€1,181 | -100% |
| Taxes | 450/3 | €1,181 | €0 | -€1,181 | -100% |
| Other amounts payable | 47/48 | €50,883 | €53,663 | +€2,780 | +5.5% |
| Accrued charges and deferred income | 492/3 | €3,971 | €1,572 | -€2,400 | -60.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,095 | €7,708 | +€614 | +8.7% |
| Other operating charges | 640/8 | €505 | €1,745 | +€1,239 | +245% |
| Gross operating margin | 9900 | €49,298 | €11,381 | -€37,917 | -76.9% |
| Operating profit (loss) | 9901 | €41,698 | €1,928 | -€39,770 | -95.4% |
| Financial charges | 65/66B | €4,044 | €1,680 | -€2,364 | -58.5% |
| Recurring financial charges | 65 | €4,044 | €1,680 | -€2,364 | -58.5% |
| Profit (loss) for the period before taxes | 9903 | €37,654 | €248 | -€37,406 | -99.3% |
| Income taxes | 67/77 | €9,413 | €0 | -€9,413 | -100% |
| Profit (loss) for the period | 9904 | €28,240 | €248 | -€27,993 | -99.1% |
| Profit (loss) for the period to be appropriated | 9905 | €28,240 | €248 | -€27,993 | -99.1% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.