VANICO MANAGEMENT: 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.
VANICO MANAGEMENT
Largest movements
- Receivables within one year -€28,935
down €28,935 (-54.1%), from €53,528 to €24,593
of which Trade receivables: -€31,264
- Cash +€9,642
up €9,642 (+414.1%), from €2,329 to €11,971
mainly Receivables within one year (+€28,935) and Provisions (+€9,334)
- Deferred charges and accrued income +€617
up €617 (+38.5%), from €1,605 to €2,222
- Trade debts -€10,367
down €10,367 (-83.2%), from €12,454 to €2,088
- Provisions +€9,334
new in 2025: €9,334
- Tax, wage and social debts -€8,982
down €8,982 (-52.8%), from €17,008 to €8,025
of which Taxes: -€8,558
- Profit (loss) carried forward -€8,249
down €8,249 (-58.5%), from €14,095 to €5,846
- Other debts -€833
no longer reported in 2025 (was €833)
- Provisions +€9,334
new in 2025: €9,334
- Financial income +€631
up €631 (+104.3%), from €605 to €1,237
- Gross operating margin +€449
up €449 (+2.1%), from €21,269 to €21,718
- Other operating charges +€419
up €419 (+70.6%), from €594 to €1,013
- Taxes +€222
up €222 (+3.7%), from €5,947 to €6,169
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 | €59,997 | €40,900 | -€19,097 | -31.8% |
| Fixed assets | 21/28 | €2,536 | €2,114 | -€422 | -16.6% |
| Tangible fixed assets | 22/27 | €2,536 | €2,114 | -€422 | -16.6% |
| Furniture and vehicles | 24 | €1,180 | €923 | -€257 | -21.8% |
| Other tangible fixed assets | 26 | €1,355 | €1,191 | -€165 | -12.2% |
| Current assets | 29/58 | €57,461 | €38,786 | -€18,675 | -32.5% |
| Amounts receivable within one year | 40/41 | €53,528 | €24,593 | -€28,935 | -54.1% |
| Trade receivables | 40 | €31,868 | €603 | -€31,264 | -98.1% |
| Other amounts receivable | 41 | €21,660 | €23,990 | +€2,330 | +10.8% |
| Cash at bank and in hand | 54/58 | €2,329 | €11,971 | +€9,642 | +414.1% |
| Deferred charges and accrued income | 490/1 | €1,605 | €2,222 | +€617 | +38.5% |
| Total equity and liabilities | 10/49 | €59,997 | €40,900 | -€19,097 | -31.8% |
| Equity | 10/15 | €29,702 | €21,453 | -€8,249 | -27.8% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €12,607 | €12,607 | = | 0.0% |
| Distributable reserves | 133 | €12,607 | €12,607 | = | 0.0% |
| Profit (loss) carried forward | 14 | €14,095 | €5,846 | -€8,249 | -58.5% |
| Provisions and deferred taxes | 16 | - | €9,334 | +€9,334 | |
| Provisions for liabilities and charges | 160/5 | - | €9,334 | +€9,334 | |
| Other liabilities and charges | 164/5 | - | €9,334 | +€9,334 | |
| Amounts payable | 17/49 | €30,295 | €10,113 | -€20,182 | -66.6% |
| Amounts payable within one year | 42/48 | €30,295 | €10,113 | -€20,182 | -66.6% |
| Trade debts | 44 | €12,454 | €2,088 | -€10,367 | -83.2% |
| Suppliers | 440/4 | €12,454 | €2,088 | -€10,367 | -83.2% |
| Taxes, remuneration and social security | 45 | €17,008 | €8,025 | -€8,982 | -52.8% |
| Taxes | 450/3 | €16,084 | €7,525 | -€8,558 | -53.2% |
| Remuneration and social security | 454/9 | €924 | €500 | -€424 | -45.9% |
| Other amounts payable | 47/48 | €833 | - | -€833 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €271 | €422 | +€151 | +55.6% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €9,334 | +€9,334 | |
| Other operating charges | 640/8 | €594 | €1,013 | +€419 | +70.6% |
| Gross operating margin | 9900 | €21,269 | €21,718 | +€449 | +2.1% |
| Operating profit (loss) | 9901 | €20,404 | €10,949 | -€9,455 | -46.3% |
| Financial income | 75/76B | €605 | €1,237 | +€631 | +104.3% |
| Recurring financial income | 75 | €605 | €1,237 | +€631 | +104.3% |
| Financial charges | 65/66B | €134 | €171 | +€36 | +27.1% |
| Recurring financial charges | 65 | €134 | €171 | +€36 | +27.1% |
| Profit (loss) for the period before taxes | 9903 | €20,875 | €12,015 | -€8,860 | -42.4% |
| Income taxes | 67/77 | €5,947 | €6,169 | +€222 | +3.7% |
| Profit (loss) for the period | 9904 | €14,928 | €5,846 | -€9,082 | -60.8% |
| Profit (loss) for the period to be appropriated | 9905 | €14,928 | €5,846 | -€9,082 | -60.8% |
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.