VANELO CONCEPT: 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.
VANELO CONCEPT
Largest movements
- Tangible fixed assets +€13,426
up €13,426 (+365%), from €3,677 to €17,104
of which Furniture and vehicles: +€13,814
- Stocks and contracts -€7,416
down €7,416 (-14.6%), from €50,935 to €43,519
- Receivables within one year -€5,003
down €5,003 (-51.8%), from €9,658 to €4,655
of which Trade receivables: -€5,733
- Intangible fixed assets +€4,923
new in 2026: €4,923
- Cash -€1,015
down €1,015 (-33.6%), from €3,017 to €2,002
mainly Investment in fixed assets (net) (-€22,209) and Other debts (-€17,796)
- Profit (loss) carried forward +€26,674
up €26,674 (+16.7%), from -€159,700 to -€133,026
- Other debts -€17,796
down €17,796 (-24.1%), from €73,897 to €56,102
- Tax, wage and social debts -€10,875
down €10,875 (-42.0%), from €25,904 to €15,029
of which Remuneration and social security: -€6,536
- Debts after one year +€9,974
new in 2026: €9,974
- Trade debts -€7,805
down €7,805 (-52.3%), from €14,926 to €7,121
- Staff costs -€4,876
no longer reported in 2026 (was €4,876)
- Gross operating margin -€4,202
down €4,202 (-11.8%), from €35,661 to €31,458
- Depreciation +€2,935
up €2,935 (+317%), from €925 to €3,860
- Financial income +€2,809
up €2,809 (+3,353%), from €84 to €2,892
of which Non-recurring financial income: +€2,697
- Financial charges -€1,645
down €1,645 (-35.7%), from €4,602 to €2,958
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €67,528 | €72,480 | +€4,952 | +7.3% |
| Fixed assets | 21/28 | €3,677 | €22,026 | +€18,349 | +499% |
| Intangible fixed assets | 21 | - | €4,923 | +€4,923 | |
| Tangible fixed assets | 22/27 | €3,677 | €17,104 | +€13,426 | +365% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €592 | €14,405 | +€13,814 | +2,335% |
| Other tangible fixed assets | 26 | €3,086 | €2,698 | -€387 | -12.6% |
| Current assets | 29/58 | €63,851 | €50,454 | -€13,397 | -21.0% |
| Stocks and contracts in progress | 3 | €50,935 | €43,519 | -€7,416 | -14.6% |
| Stocks | 30/36 | €50,935 | €43,519 | -€7,416 | -14.6% |
| Amounts receivable within one year | 40/41 | €9,658 | €4,655 | -€5,003 | -51.8% |
| Trade receivables | 40 | €5,966 | €233 | -€5,733 | -96.1% |
| Other amounts receivable | 41 | €3,692 | €4,421 | +€730 | +19.8% |
| Cash at bank and in hand | 54/58 | €3,017 | €2,002 | -€1,015 | -33.6% |
| Deferred charges and accrued income | 490/1 | €240 | €279 | +€38 | +15.8% |
| Total equity and liabilities | 10/49 | €67,528 | €72,480 | +€4,952 | +7.3% |
| Equity | 10/15 | -€47,200 | -€20,526 | +€26,674 | +56.5% |
| Contributions | 10/11 | €112,500 | €112,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€159,700 | -€133,026 | +€26,674 | +16.7% |
| Amounts payable | 17/49 | €114,728 | €93,006 | -€21,721 | -18.9% |
| Amounts payable after more than one year | 17 | - | €9,974 | +€9,974 | |
| Financial debts | 170/4 | - | €9,974 | +€9,974 | |
| Amounts payable within one year | 42/48 | €114,728 | €83,032 | -€31,696 | -27.6% |
| Current portion of amounts payable after more than one year | 42 | €0 | €4,780 | +€4,780 | |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €14,926 | €7,121 | -€7,805 | -52.3% |
| Suppliers | 440/4 | €14,926 | €7,121 | -€7,805 | -52.3% |
| Taxes, remuneration and social security | 45 | €25,904 | €15,029 | -€10,875 | -42.0% |
| Taxes | 450/3 | €19,368 | €15,029 | -€4,339 | -22.4% |
| Remuneration and social security | 454/9 | €6,536 | - | -€6,536 | |
| Other amounts payable | 47/48 | €73,897 | €56,102 | -€17,796 | -24.1% |
| Remuneration, social security and pensions | 62 | €4,876 | - | -€4,876 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €925 | €3,860 | +€2,935 | +317% |
| Other operating charges | 640/8 | €1,034 | €860 | -€174 | -16.9% |
| Non-recurring operating charges | 66A | €4,155 | - | -€4,155 | |
| Gross operating margin | 9900 | €35,661 | €31,458 | -€4,202 | -11.8% |
| Operating profit (loss) | 9901 | €24,671 | €26,739 | +€2,068 | +8.4% |
| Financial income | 75/76B | €84 | €2,892 | +€2,809 | +3,353% |
| Recurring financial income | 75 | €84 | €195 | +€111 | +133% |
| Non-recurring financial income | 76B | €0 | €2,697 | +€2,697 | |
| Financial charges | 65/66B | €4,602 | €2,958 | -€1,645 | -35.7% |
| Recurring financial charges | 65 | €4,602 | €2,958 | -€1,645 | -35.7% |
| Profit (loss) for the period before taxes | 9903 | €20,152 | €26,674 | +€6,521 | +32.4% |
| Profit (loss) for the period | 9904 | €20,152 | €26,674 | +€6,521 | +32.4% |
| Profit (loss) for the period to be appropriated | 9905 | €20,152 | €26,674 | +€6,521 | +32.4% |
Source: filed annual accounts (NBB), financial years ended 28 February 2025 and 28 February 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.