VANEKA: 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
VANEKA
NACE 68.121, Development of residential building projects
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€262,501
2024 · €183,219+€79,282
Equity
€4.5m
2024 · €4.5m+€15,001
Cash
€16,449
2024 · €11,589+€4,859
Balance sheet total
€7.0m
2024 · €7.1m-€181,181
Largest movements
Assets
- Tangible fixed assets -€172,977
down €172,977 (-3.3%), from €5.3m to €5.1m
Equity and liabilities
- Short-term financial debts -€740,000
down €740,000 (-71.2%), from €1.0m to €300,000
- Other debts +€679,039
up €679,039 (+57.9%), from €1.2m to €1.9m
- Debts after one year -€100,000
down €100,000 (-88.9%), from €112,500 to €12,500
Income statement
- Gross operating margin +€84,681
up €84,681 (+13.0%), from €653,541 to €738,222
- Write-downs -€29,568
down €29,568, from €28,653 to -€914
- Taxes +€27,303
up €27,303 (+43.7%), from €62,453 to €89,757
- Financial income +€26,588
up €26,588 (+567.0%), from €4,689 to €31,277
of which Non-recurring financial income: +€27,012
- Financial charges +€25,983
up €25,983 (+22.9%), from €113,346 to €139,329
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
€183,219
Gross operating margin
+€84,681
Staff costs
+€1,764
Depreciation
-€15,975
Write-downs
+€29,568
Other operating charges
+€5,943
Financial income
+€26,588
Financial charges
-€25,983
Taxes
-€27,303
Result 2025
€262,501
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
+€1.2m
Investment
-€20,910
Financing
-€1.1m
Cash 2024
€11,589
From operations (derived)
+€1.2m
Net result for the year
+€262,501
Depreciation
+€193,887
Receivables within one year
+€13,071
Smaller working-capital items
-€642
Trade debts
-€7,799
Advances received
+€3,226
Other debts
+€679,039
Accrued charges and deferred income
+€19,986
Investment (derived)
-€20,910
Investment in fixed assets (net)
-€20,910
Financing
-€1.1m
Debts after one year
-€100,000
Current portion of long-term debt
-€50,000
Short-term financial debts
-€740,000
Contributions, distributions and other
-€247,500
Cash 2025
€16,449
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,142,236 | €6,961,055 | -€181,181 | -2.5% |
| Fixed assets | 21/28 | €5,268,237 | €5,095,260 | -€172,977 | -3.3% |
| Tangible fixed assets | 22/27 | €5,268,237 | €5,095,260 | -€172,977 | -3.3% |
| Land and buildings | 22 | €5,268,237 | €5,095,260 | -€172,977 | -3.3% |
| Current assets | 29/58 | €1,873,999 | €1,865,795 | -€8,205 | -0.4% |
| Stocks and contracts in progress | 3 | €1,815,911 | €1,815,911 | = | 0.0% |
| Stocks | 30/36 | €1,815,911 | €1,815,911 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €46,173 | €33,102 | -€13,071 | -28.3% |
| Trade receivables | 40 | €46,173 | €33,102 | -€13,071 | -28.3% |
| Cash at bank and in hand | 54/58 | €11,589 | €16,449 | +€4,859 | +41.9% |
| Deferred charges and accrued income | 490/1 | €327 | €334 | +€7 | +2.2% |
| Total equity and liabilities | 10/49 | €7,142,236 | €6,961,055 | -€181,181 | -2.5% |
| Equity | 10/15 | €4,496,430 | €4,511,431 | +€15,001 | +0.3% |
| Contributions | 10/11 | €107,111 | €107,111 | = | 0.0% |
| Capital | 10 | €105,000 | €105,000 | = | 0.0% |
| Issued capital | 100 | €105,000 | €105,000 | = | 0.0% |
| Outside capital | 11 | €2,111 | €2,111 | = | 0.0% |
| Share premium | 1100/10 | €2,111 | €2,111 | = | 0.0% |
| Revaluation surpluses | 12 | €131,066 | €131,066 | = | 0.0% |
| Reserves | 13 | €4,258,253 | €4,273,254 | +€15,001 | +0.4% |
| Non-distributable reserves | 130/1 | €10,500 | €10,500 | = | 0.0% |
| Legal reserve | 130 | €10,500 | €10,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €21,567 | €21,567 | = | 0.0% |
| Distributable reserves | 133 | €4,226,187 | €4,241,188 | +€15,001 | +0.4% |
| Amounts payable | 17/49 | €2,645,806 | €2,449,624 | -€196,182 | -7.4% |
| Amounts payable after more than one year | 17 | €112,500 | €12,500 | -€100,000 | -88.9% |
| Financial debts | 170/4 | €112,500 | €12,500 | -€100,000 | -88.9% |
| Amounts payable within one year | 42/48 | €2,394,950 | €2,278,782 | -€116,169 | -4.9% |
| Current portion of amounts payable after more than one year | 42 | €150,000 | €100,000 | -€50,000 | -33.3% |
| Financial debts | 43 | €1,040,000 | €300,000 | -€740,000 | -71.2% |
| Credit institutions | 430/8 | €1,040,000 | €300,000 | -€740,000 | -71.2% |
| Trade debts | 44 | €20,755 | €12,957 | -€7,799 | -37.6% |
| Suppliers | 440/4 | €20,755 | €12,957 | -€7,799 | -37.6% |
| Advances received on contracts in progress | 46 | - | €3,226 | +€3,226 | |
| Taxes, remuneration and social security | 45 | €10,895 | €10,260 | -€635 | -5.8% |
| Taxes | 450/3 | €6,533 | €5,783 | -€749 | -11.5% |
| Remuneration and social security | 454/9 | €4,362 | €4,477 | +€114 | +2.6% |
| Other amounts payable | 47/48 | €1,173,300 | €1,852,339 | +€679,039 | +57.9% |
| Accrued charges and deferred income | 492/3 | €138,356 | €158,342 | +€19,986 | +14.4% |
| Non-recurring operating income | 76A | €9,050 | - | -€9,050 | |
| Remuneration, social security and pensions | 62 | €24,326 | €22,561 | -€1,764 | -7.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €177,912 | €193,887 | +€15,975 | +9.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €28,653 | -€914 | -€29,568 | |
| Other operating charges | 640/8 | €68,322 | €62,380 | -€5,943 | -8.7% |
| Gross operating margin | 9900 | €653,541 | €738,222 | +€84,681 | +13.0% |
| Operating profit (loss) | 9901 | €354,328 | €460,309 | +€105,980 | +29.9% |
| Financial income | 75/76B | €4,689 | €31,277 | +€26,588 | +567.0% |
| Recurring financial income | 75 | €491 | €67 | -€424 | -86.3% |
| Non-recurring financial income | 76B | €4,198 | €31,210 | +€27,012 | +643.4% |
| Financial charges | 65/66B | €113,346 | €139,329 | +€25,983 | +22.9% |
| Recurring financial charges | 65 | €113,346 | €139,329 | +€25,983 | +22.9% |
| Profit (loss) for the period before taxes | 9903 | €245,672 | €352,258 | +€106,586 | +43.4% |
| Income taxes | 67/77 | €62,453 | €89,757 | +€27,303 | +43.7% |
| Profit (loss) for the period | 9904 | €183,219 | €262,501 | +€79,282 | +43.3% |
| Profit (loss) for the period to be appropriated | 9905 | €183,219 | €262,501 | +€79,282 | +43.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.