VANEFLON: 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.
What changed
VANEFLON
NACE 20.110, Manufacture of chemicals and chemical products
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€2.4m
2024 · €2.3m+€145,928
Equity
€2.2m
2024 · €2.3m-€108,706
Cash
€103,308
2024 · €674,462-€571,154
Balance sheet total
€8.3m
2024 · €6.9m+€1.4m
Largest movements
Assets
- Receivables within one year +€1.4m
up €1.4m (+98.0%), from €1.4m to €2.8m
of which Other amounts receivable: +€1.4m
- Tangible fixed assets +€1.3m
up €1.3m (+117.0%), from €1.1m to €2.4m
of which Assets under construction and advance payments: +€1.6m
- Receivables after one year -€654,543
down €654,543 (-55.6%), from €1.2m to €522,335
- Cash -€571,154
down €571,154 (-84.7%), from €674,462 to €103,308
mainly Contributions, distributions and other (-€2.6m) and Investment in fixed assets (net) (-€1.7m)
Equity and liabilities
- Short-term financial debts +€1.0m
new in 2025: €1.0m
- Debts after one year +€955,260
new in 2025: €955,260
- Trade debts -€247,763
down €247,763 (-38.0%), from €651,697 to €403,934
- Other debts -€220,010
down €220,010 (-7.9%), from €2.8m to €2.6m
- Reserves -€175,337
down €175,337 (-8.3%), from €2.1m to €1.9m
of which Tax-exempt reserves: -€175,337
Income statement
- Turnover +€433,793
up €433,793 (+3.8%), from €11.4m to €11.9m
- Staff costs +€244,961
up €244,961 (+8.9%), from €2.8m to €3.0m
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.
Result 2024
€2.3m
Turnover
+€433,793
Other operating income
-€13,006
Goods and materials
-€70,236
Services and other goods
-€67,142
Staff costs
-€244,961
Depreciation
-€72,775
Write-downs
+€41,022
Other operating charges
-€31,547
Other operating items
+€194,202
Financial income
-€12,863
Financial charges
+€13,931
Taxes
-€47,191
Deferred taxes and other
+€22,701
Result 2025
€2.4m
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.
From operations
+€1.6m
Investment
-€1.7m
Financing
-€556,285
Cash 2024
€674,462
From operations (derived)
+€1.6m
Net result for the year
+€2.4m
Depreciation
+€366,269
Receivables after one year
+€654,543
Stocks and contracts
+€69,383
Receivables within one year
-€1.4m
Deferred charges and accrued income
+€22,601
Provisions
-€58,446
Trade debts
-€247,763
Tax, wage and social debts
+€41,596
Other debts
-€220,010
Accrued charges and deferred income
-€13,408
Investment (derived)
-€1.7m
Investment in fixed assets (net)
-€1.7m
Financing
-€556,285
Debts after one year
+€955,260
Current portion of long-term debt
+€38,456
Short-term financial debts
+€1.0m
Contributions, distributions and other
-€2.6m
Cash 2025
€103,308
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,893,954 | €8,280,933 | +€1.4m | +20.1% |
| Fixed assets | 21/28 | €1,191,045 | €2,488,949 | +€1.3m | +109.0% |
| Intangible fixed assets | 21 | €34,786 | €24,404 | -€10,382 | -29.8% |
| Tangible fixed assets | 22/27 | €1,118,323 | €2,426,609 | +€1.3m | +117.0% |
| Land and buildings | 22 | €25,753 | €23,063 | -€2,690 | -10.4% |
| Plant, machinery and equipment | 23 | €1,028,993 | €747,714 | -€281,279 | -27.3% |
| Furniture and vehicles | 24 | €33,884 | €65,006 | +€31,122 | +91.8% |
| Other tangible fixed assets | 26 | €29,693 | €26,443 | -€3,250 | -10.9% |
| Assets under construction and advance payments | 27 | - | €1,564,383 | +€1.6m | |
| Financial fixed assets | 28 | €37,936 | €37,936 | = | 0.0% |
| Affiliated companies | 280/1 | €37,928 | €37,928 | = | 0.0% |
| Participating interests | 280 | €37,928 | €37,928 | = | 0.0% |
| Other financial fixed assets | 284/8 | €8 | €8 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €8 | €8 | = | 0.0% |
| Current assets | 29/58 | €5,702,909 | €5,791,984 | +€89,075 | +1.6% |
| Amounts receivable after more than one year | 29 | €1,176,877 | €522,335 | -€654,543 | -55.6% |
| Other amounts receivable | 291 | €1,176,877 | €522,335 | -€654,543 | -55.6% |
| Stocks and contracts in progress | 3 | €2,339,440 | €2,270,057 | -€69,383 | -3.0% |
| Stocks | 30/36 | €2,339,440 | €2,270,057 | -€69,383 | -3.0% |
| Raw materials and consumables | 30/31 | €1,039,746 | €880,160 | -€159,586 | -15.3% |
| Work in progress | 32 | €126,218 | €118,884 | -€7,334 | -5.8% |
| Finished goods | 33 | €899,846 | €1,027,493 | +€127,647 | +14.2% |
| Goods purchased for resale | 34 | €273,630 | €243,520 | -€30,110 | -11.0% |
| Amounts receivable within one year | 40/41 | €1,435,383 | €2,842,139 | +€1.4m | +98.0% |
| Trade receivables | 40 | €1,161,900 | €1,189,965 | +€28,065 | +2.4% |
| Other amounts receivable | 41 | €273,483 | €1,652,174 | +€1.4m | +504.1% |
| Cash at bank and in hand | 54/58 | €674,462 | €103,308 | -€571,154 | -84.7% |
| Deferred charges and accrued income | 490/1 | €76,746 | €54,145 | -€22,601 | -29.4% |
| Total equity and liabilities | 10/49 | €6,893,954 | €8,280,933 | +€1.4m | +20.1% |
| Equity | 10/15 | €2,342,753 | €2,234,047 | -€108,706 | -4.6% |
| Contributions | 10/11 | €211,000 | €211,000 | = | 0.0% |
| Capital | 10 | €211,000 | €211,000 | = | 0.0% |
| Issued capital | 100 | €211,000 | €211,000 | = | 0.0% |
| Reserves | 13 | €2,107,567 | €1,932,230 | -€175,337 | -8.3% |
| Non-distributable reserves | 130/1 | €21,100 | €21,100 | = | 0.0% |
| Legal reserve | 130 | €21,100 | €21,100 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,042,389 | €1,867,052 | -€175,337 | -8.6% |
| Distributable reserves | 133 | €44,078 | €44,078 | = | 0.0% |
| Profit (loss) carried forward | 14 | €24,185 | €90,817 | +€66,631 | +275.5% |
| Provisions and deferred taxes | 16 | €677,899 | €619,454 | -€58,446 | -8.6% |
| Deferred taxes | 168 | €677,899 | €619,454 | -€58,446 | -8.6% |
| Amounts payable | 17/49 | €3,873,302 | €5,427,432 | +€1.6m | +40.1% |
| Amounts payable after more than one year | 17 | - | €955,260 | +€955,260 | |
| Financial debts | 170/4 | - | €955,260 | +€955,260 | |
| Credit institutions | 173 | - | €955,260 | +€955,260 | |
| Amounts payable within one year | 42/48 | €3,851,340 | €4,463,618 | +€612,278 | +15.9% |
| Current portion of amounts payable after more than one year | 42 | - | €38,456 | +€38,456 | |
| Financial debts | 43 | - | €1,000,000 | +€1.0m | |
| Credit institutions | 430/8 | - | €1,000,000 | +€1.0m | |
| Trade debts | 44 | €651,697 | €403,934 | -€247,763 | -38.0% |
| Suppliers | 440/4 | €651,697 | €403,934 | -€247,763 | -38.0% |
| Taxes, remuneration and social security | 45 | €424,643 | €466,239 | +€41,596 | +9.8% |
| Taxes | 450/3 | €119,272 | €138,024 | +€18,752 | +15.7% |
| Remuneration and social security | 454/9 | €305,371 | €328,215 | +€22,844 | +7.5% |
| Other amounts payable | 47/48 | €2,775,000 | €2,554,990 | -€220,010 | -7.9% |
| Accrued charges and deferred income | 492/3 | €21,962 | €8,554 | -€13,408 | -61.1% |
| Operating income | 70/76A | €11,419,037 | €12,034,026 | +€614,989 | +5.4% |
| Turnover | 70 | €11,441,299 | €11,875,092 | +€433,793 | +3.8% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€73,889 | €120,313 | +€194,202 | |
| Other operating income | 74 | €51,628 | €38,621 | -€13,006 | -25.2% |
| Operating charges | 60/66A | €8,677,106 | €9,122,745 | +€445,639 | +5.1% |
| Goods for resale, raw materials and consumables | 60 | €3,599,914 | €3,670,150 | +€70,236 | +2.0% |
| Purchases | 600/8 | €3,776,684 | €3,480,454 | -€296,230 | -7.8% |
| Change in stocks: decrease (increase) | 609 | -€176,770 | €189,696 | +€366,465 | |
| Services and other goods | 61 | €1,967,944 | €2,035,086 | +€67,142 | +3.4% |
| Remuneration, social security and pensions | 62 | €2,756,806 | €3,001,767 | +€244,961 | +8.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €293,494 | €366,269 | +€72,775 | +24.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €11,405 | -€29,616 | -€41,022 | |
| Other operating charges | 640/8 | €47,542 | €79,089 | +€31,547 | +66.4% |
| Operating profit (loss) | 9901 | €2,741,931 | €2,911,281 | +€169,350 | +6.2% |
| Financial income | 75/76B | €77,293 | €64,431 | -€12,863 | -16.6% |
| Recurring financial income | 75 | €77,293 | €64,431 | -€12,863 | -16.6% |
| Income from current assets | 751 | €76,807 | €58,280 | -€18,527 | -24.1% |
| Other financial income | 752/9 | €486 | €6,150 | +€5,664 | +1164.7% |
| Financial charges | 65/66B | €62,872 | €48,941 | -€13,931 | -22.2% |
| Recurring financial charges | 65 | €62,872 | €48,941 | -€13,931 | -22.2% |
| Debt charges | 650 | €4,695 | €18,301 | +€13,606 | +289.8% |
| Other financial charges | 652/9 | €58,177 | €30,640 | -€27,537 | -47.3% |
| Profit (loss) for the period before taxes | 9903 | €2,756,353 | €2,926,771 | +€170,418 | +6.2% |
| Transfer from deferred taxes | 780 | €35,744 | €58,446 | +€22,701 | +63.5% |
| Income taxes | 67/77 | €496,731 | €543,922 | +€47,191 | +9.5% |
| Taxes | 670/3 | €503,366 | €543,922 | +€40,556 | +8.1% |
| Tax adjustments and reversals of tax provisions | 77 | €6,635 | €0 | -€6,635 | -100.0% |
| Profit (loss) for the period | 9904 | €2,295,366 | €2,441,294 | +€145,928 | +6.4% |
| Transfer from tax-exempt reserves | 789 | €107,233 | €175,337 | +€68,104 | +63.5% |
| Profit (loss) for the period to be appropriated | 9905 | €2,402,599 | €2,616,631 | +€214,032 | +8.9% |
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 6 October 2026 via checked.be.