VANGEEL: what changed
What changed
VANGEEL
NACE 56.111, Full-service restaurants
filed annual accounts (NBB)
Net result for the year
-€1,588
2024 · -€6,947+€5,360
Equity
€71,849
2024 · €73,436-€1,588
Cash
€39,957
2024 · €26,965+€12,993
Balance sheet total
€858,961
2024 · €792,075+€66,886
Largest movements
Assets
- Receivables within one year +€67,683
up €67,683 (+13.6%), from €499,194 to €566,877
of which Other amounts receivable: +€43,979
- Tangible fixed assets -€24,231
down €24,231 (-11.7%), from €207,570 to €183,339
of which Other tangible fixed assets: -€18,662
- Stocks and contracts +€16,086
up €16,086 (+47.5%), from €33,893 to €49,979
- Cash +€12,993
up €12,993 (+48.2%), from €26,965 to €39,957
mainly Tax, wage and social debts (+€78,213) and Depreciation (+€40,428)
Equity and liabilities
- Debts after one year -€84,867
down €84,867 (-41.8%), from €202,840 to €117,973
- Tax, wage and social debts +€78,213
up €78,213 (+72.0%), from €108,618 to €186,831
of which Remuneration and social security: +€51,054
- Trade debts +€37,460
up €37,460 (+14.6%), from €256,816 to €294,276
- Advances received +€34,444
new in 2025: €34,444
Income statement
- Gross operating margin +€14,094
up €14,094 (+2.3%), from €602,539 to €616,633
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.
Result 2024
-€6,947
Gross operating margin
+€14,094
Staff costs
+€560
Depreciation
-€2,264
Write-downs
+€1,102
Other operating charges
-€1,005
Financial income
+€27
Financial charges
-€5,394
Taxes
-€1,759
Result 2025
-€1,588
raises the resultlowers the result
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.
From operations
+€111,932
Investment
-€17,780
Financing
-€81,159
Cash 2024
€26,965
From operations (derived)
+€111,932
Net result for the year
-€1,588
Depreciation
+€40,428
Stocks and contracts
-€16,086
Receivables within one year
-€67,683
Deferred charges and accrued income
+€7,228
Trade debts
+€37,460
Tax, wage and social debts
+€78,213
Advances received
+€34,444
Other debts
-€485
Investment (derived)
-€17,780
Investment in fixed assets (net)
-€17,780
Financing
-€81,159
Debts after one year
-€84,867
Current portion of long-term debt
-€3,590
Short-term financial debts
+€7,298
Cash 2025
€39,957
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €792,075 | €858,961 | +€66,886 | +8.4% |
| Fixed assets | 21/28 | €210,035 | €187,387 | -€22,648 | -10.8% |
| Intangible fixed assets | 21 | - | €2,483 | +€2,483 | |
| Tangible fixed assets | 22/27 | €207,570 | €183,339 | -€24,231 | -11.7% |
| Plant, machinery and equipment | 23 | €26,251 | €25,003 | -€1,248 | -4.8% |
| Furniture and vehicles | 24 | €7,612 | €3,291 | -€4,321 | -56.8% |
| Other tangible fixed assets | 26 | €173,707 | €155,045 | -€18,662 | -10.7% |
| Financial fixed assets | 28 | €2,465 | €1,565 | -€900 | -36.5% |
| Current assets | 29/58 | €582,040 | €671,574 | +€89,534 | +15.4% |
| Stocks and contracts in progress | 3 | €33,893 | €49,979 | +€16,086 | +47.5% |
| Stocks | 30/36 | €33,893 | €49,979 | +€16,086 | +47.5% |
| Amounts receivable within one year | 40/41 | €499,194 | €566,877 | +€67,683 | +13.6% |
| Trade receivables | 40 | €171,709 | €195,413 | +€23,704 | +13.8% |
| Other amounts receivable | 41 | €327,485 | €371,464 | +€43,979 | +13.4% |
| Cash at bank and in hand | 54/58 | €26,965 | €39,957 | +€12,993 | +48.2% |
| Deferred charges and accrued income | 490/1 | €21,988 | €14,761 | -€7,228 | -32.9% |
| Total equity and liabilities | 10/49 | €792,075 | €858,961 | +€66,886 | +8.4% |
| Equity | 10/15 | €73,436 | €71,849 | -€1,588 | -2.2% |
| Contributions | 10/11 | €24,789 | €24,789 | = | 0.0% |
| Reserves | 13 | €507 | €507 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €507 | €507 | = | 0.0% |
| Profit (loss) carried forward | 14 | €48,140 | €46,552 | -€1,588 | -3.3% |
| Amounts payable | 17/49 | €718,639 | €787,112 | +€68,474 | +9.5% |
| Amounts payable after more than one year | 17 | €202,840 | €117,973 | -€84,867 | -41.8% |
| Financial debts | 170/4 | €202,840 | €117,973 | -€84,867 | -41.8% |
| Amounts payable within one year | 42/48 | €515,799 | €669,139 | +€153,341 | +29.7% |
| Current portion of amounts payable after more than one year | 42 | €88,457 | €84,867 | -€3,590 | -4.1% |
| Financial debts | 43 | €51,024 | €58,321 | +€7,298 | +14.3% |
| Credit institutions | 430/8 | - | €10,739 | +€10,739 | |
| Other loans | 439 | €51,024 | €47,583 | -€3,441 | -6.7% |
| Trade debts | 44 | €256,816 | €294,276 | +€37,460 | +14.6% |
| Suppliers | 440/4 | €256,816 | €294,276 | +€37,460 | +14.6% |
| Advances received on contracts in progress | 46 | - | €34,444 | +€34,444 | |
| Taxes, remuneration and social security | 45 | €108,618 | €186,831 | +€78,213 | +72.0% |
| Taxes | 450/3 | €25,555 | €52,714 | +€27,159 | +106% |
| Remuneration and social security | 454/9 | €83,063 | €134,117 | +€51,054 | +61.5% |
| Other amounts payable | 47/48 | €10,885 | €10,401 | -€485 | -4.5% |
| Remuneration, social security and pensions | 62 | €546,911 | €546,351 | -€560 | -0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,164 | €40,428 | +€2,264 | +5.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,102 | €0 | -€1,102 | -100% |
| Other operating charges | 640/8 | €3,860 | €4,866 | +€1,005 | +26.0% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €602,539 | €616,633 | +€14,094 | +2.3% |
| Operating profit (loss) | 9901 | €12,502 | €24,988 | +€12,486 | +99.9% |
| Financial income | 75/76B | €4,029 | €4,056 | +€27 | +0.7% |
| Recurring financial income | 75 | €4,029 | €4,056 | +€27 | +0.7% |
| Financial charges | 65/66B | €23,545 | €28,940 | +€5,394 | +22.9% |
| Recurring financial charges | 65 | €23,545 | €28,940 | +€5,394 | +22.9% |
| Profit (loss) for the period before taxes | 9903 | -€7,015 | €104 | +€7,119 | |
| Income taxes | 67/77 | -€67 | €1,692 | +€1,759 | |
| Profit (loss) for the period | 9904 | -€6,947 | -€1,588 | +€5,360 | +77.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,947 | -€1,588 | +€5,360 | +77.1% |
Next steps
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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 4 November 2026 via checked.be.