VANERMEN: 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.
VANERMEN
Largest movements
- Tangible fixed assets +€16,984
new in 2025: €16,984
- Cash -€1,707
down €1,707 (-9.0%), from €19,032 to €17,325
mainly Investment in fixed assets (net) (-€17,000) and Net result for the year (-€2,009)
- Receivables within one year +€1,224
up €1,224 (+38.0%), from €3,216 to €4,439
of which Other amounts receivable: +€3,024
- Trade debts +€18,543
up €18,543 (+6521.2%), from €284 to €18,827
- Profit (loss) carried forward -€2,009
down €2,009 (-91.8%), from -€2,188 to -€4,197
- Other operating charges -€265
down €265 (-58.8%), from €451 to €186
- Gross operating margin -€131
down €131 (-9.5%), from -€1,386 to -€1,517
- Taxes -€33
down €33 (-19.2%), from €174 to €141
- Depreciation +€16
new in 2025: €16
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €22,248 | €38,749 | +€16,501 | +74.2% |
| Fixed assets | 21/28 | - | €16,984 | +€16,984 | |
| Tangible fixed assets | 22/27 | - | €16,984 | +€16,984 | |
| Furniture and vehicles | 24 | - | €16,984 | +€16,984 | |
| Current assets | 29/58 | €22,248 | €21,764 | -€484 | -2.2% |
| Amounts receivable within one year | 40/41 | €3,216 | €4,439 | +€1,224 | +38.0% |
| Trade receivables | 40 | €1,800 | €0 | -€1,800 | -100.0% |
| Other amounts receivable | 41 | €1,416 | €4,439 | +€3,024 | +213.6% |
| Cash at bank and in hand | 54/58 | €19,032 | €17,325 | -€1,707 | -9.0% |
| Total equity and liabilities | 10/49 | €22,248 | €38,749 | +€16,501 | +74.2% |
| Equity | 10/15 | €21,789 | €19,780 | -€2,009 | -9.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €5,385 | €5,385 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €3,526 | €3,526 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,188 | -€4,197 | -€2,009 | -91.8% |
| Amounts payable | 17/49 | €459 | €18,968 | +€18,510 | +4034.8% |
| Amounts payable within one year | 42/48 | €459 | €18,968 | +€18,510 | +4034.8% |
| Trade debts | 44 | €284 | €18,827 | +€18,543 | +6521.2% |
| Suppliers | 440/4 | €284 | €18,827 | +€18,543 | +6521.2% |
| Taxes, remuneration and social security | 45 | €174 | €141 | -€33 | -19.2% |
| Taxes | 450/3 | €174 | €141 | -€33 | -19.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €16 | +€16 | |
| Other operating charges | 640/8 | €451 | €186 | -€265 | -58.8% |
| Gross operating margin | 9900 | -€1,386 | -€1,517 | -€131 | -9.5% |
| Operating profit (loss) | 9901 | -€1,837 | -€1,718 | +€119 | +6.5% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €135 | €150 | +€15 | +11.1% |
| Recurring financial charges | 65 | €135 | €150 | +€15 | +11.1% |
| Profit (loss) for the period before taxes | 9903 | -€1,972 | -€1,868 | +€104 | +5.3% |
| Income taxes | 67/77 | €174 | €141 | -€33 | -19.2% |
| Profit (loss) for the period | 9904 | -€2,146 | -€2,009 | +€137 | +6.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,146 | -€2,009 | +€137 | +6.4% |
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 4 October 2026 via checked.be.