VANGUY: 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.
VANGUY
Largest movements
- Receivables within one year +€126,805
up €126,805 (+1,244%), from €10,197 to €137,003
of which Trade receivables: +€110,993
- Cash -€1,631
down €1,631 (-54.5%), from €2,995 to €1,364
mainly Receivables within one year (-€126,805)
- Trade debts +€92,786
new in 2025: €92,786
- Other debts +€20,361
up €20,361 (+230%), from €8,861 to €29,222
- Profit (loss) carried forward +€10,936
up €10,936, from -€5,818 to €5,118
- Gross operating margin +€18,200
up €18,200, from -€5,733 to €12,467
- Taxes +€1,241
new in 2025: €1,241
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.
Derived cash bridge
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 | €13,192 | €138,367 | +€125,175 | +949% |
| Current assets | 29/58 | €13,192 | €138,367 | +€125,175 | +949% |
| Amounts receivable within one year | 40/41 | €10,197 | €137,003 | +€126,805 | +1,244% |
| Trade receivables | 40 | €10,197 | €121,190 | +€110,993 | +1,088% |
| Other amounts receivable | 41 | - | €15,813 | +€15,813 | |
| Cash at bank and in hand | 54/58 | €2,995 | €1,364 | -€1,631 | -54.5% |
| Total equity and liabilities | 10/49 | €13,192 | €138,367 | +€125,175 | +949% |
| Equity | 10/15 | €4,182 | €15,118 | +€10,936 | +261% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,818 | €5,118 | +€10,936 | |
| Amounts payable | 17/49 | €9,010 | €123,248 | +€114,239 | +1,268% |
| Amounts payable within one year | 42/48 | €9,010 | €123,248 | +€114,239 | +1,268% |
| Trade debts | 44 | - | €92,786 | +€92,786 | |
| Suppliers | 440/4 | - | €92,786 | +€92,786 | |
| Taxes, remuneration and social security | 45 | €148 | €1,241 | +€1,092 | +737% |
| Taxes | 450/3 | €148 | €1,241 | +€1,092 | +737% |
| Other amounts payable | 47/48 | €8,861 | €29,222 | +€20,361 | +230% |
| Other operating charges | 640/8 | €100 | €120 | +€20 | +20.0% |
| Gross operating margin | 9900 | -€5,733 | €12,467 | +€18,200 | |
| Operating profit (loss) | 9901 | -€5,833 | €12,347 | +€18,180 | |
| Financial charges | 65/66B | €141 | €170 | +€30 | +21.1% |
| Recurring financial charges | 65 | €141 | €170 | +€30 | +21.1% |
| Profit (loss) for the period before taxes | 9903 | -€5,974 | €12,177 | +€18,151 | |
| Income taxes | 67/77 | - | €1,241 | +€1,241 | |
| Profit (loss) for the period | 9904 | -€5,974 | €10,936 | +€16,910 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,974 | €10,936 | +€16,910 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.